27 Jun 2014 16:41:45
RC Lens - the French club owned by pending Sheffield Wednesday buyer Hafiz Mammadov - has had its promotion to Ligue Un suspended due to discrepancies in its budget for next season.
Lens have been informed by the National Directorate of Management Control (DNCG)- the financial regulation body of French football - that they will not be permitted to enter the top flight due to ‘insufficient financial guarantees. ’
The problem appears to revolve around a figure of ten million euros (around £7. 99m) which has not been transferred into the club’s accounts from major shareholder Mammadov in Arzerbaijan.
Club president Gervais Martel immediately announced an appeal against the decision and insists he is confident the suspension will be lifted.
Martel insists the issue has arisen due to a public holiday in Azerbaijan which caused a delay in the cash transfer and ensured it arrived after the DNCG made their judgement.
He said: “I went to spend a few days in Baku to set this up.
“What I can say today is that it is unfortunate that this decision is made in a matter of a day, on a payment date.
“But one simple reason: yesterday, June 26, it was the feast of the Armed Azerbaijan.
“It was a holiday and sending the funds was tabled on the 25th was not effective on the 26th for this reason, and it has not arrived.
“DNCG applied it’s regulations.
“I have absolutely no worries.
“We will appeal to the DNCG and we will provide all documents at the appropriate time.
“This is unfortunate but it is not very serious. â€
The club have appealed both to the French Football Federation (FFF) and the DNCG over the decision. The appeal is expected to be heard on July 3 or July 9.
Mammadov’s potential takeover of the Owls is currently undergoing the ratification process with the Football League.
This is what it says in the star and they fully explained why the situation has arisen and how it's going to be rectified so nothing at all to worry about.
Onwards and upwards and always look on the bright side a life WAWAW
1.) 27 Jun 2014
It's like us having a bank holiday. Surely the new pending owner or who ever deals with his finances must have known that the money would be delayed which would then cause the problem. This all sounds very suspect to me. Maybe the F. A know something too which is why the takeover hasn't been rubber stamped. When else have takeovers of clubs become such a drama? I wouldn't be surprised if it doesn't happen hence why Milan says he's sticking around.
2.) 27 Jun 2014
27 Jun 2014 18:50:33
Know that's a post. hope it don't effect us in any way the got to admit I am a bit nervous know
3.) 27 Jun 2014
The ratification proesstakes 3 weeks minimum less than this was hoping, so no delay. Football league ratification can take 3 months. Second postsounds like one of those geezers on herewho want Wednesday to fail.
4.) 27 Jun 2014
Just because you don't agree with me why does that mean that I want Wednesday to fail? I've got my own opinions mate which I'm entitled to. No I don't think the takeover will happen but if I'm wrong I doubt any money worth talking about will be made available for so called big signings. I say this through concern and nothing less.
RevOwl
5.) 27 Jun 2014
Sounds like a banking error that shouldn't have happened but did and this has been blown out of proportion. It seems like the French FA have been a bit quick on the trigger in applying sanctions and I have the feeling the ban will be overturned and I don't see this effecting our takeover.
6.) 27 Jun 2014
I get that the bank holiday thing is an absolutely school boy mistake that no serious business man would allow to happen.
This takeover is far from being a drama (until today though). It happened very quickly after it became public knowledge and the fl signing it off as final hasn't taken that long yet.
I'm still hugely optimistic about the future, but would rather this hadn't happened.
7.) 27 Jun 2014
Another shambles, and before I get I smell pork or what ever rubbish, I am a true owl, season ticket for last 6 years and I know this season is going to be another relegation battle end of, odd new signing maybe, and usual loan siginging to save us end of!
8.) 27 Jun 2014
How come people are so negative about the takeover. Good things come to people who wait, so the saying says.
9.) 28 Jun 2014
28 Jun 2014 11:00:32
If the first post was that it's just been announced by FIFA, the Queen and News at Ten that the 5 richest people in the world have formed a syndicate to buy Wednesday and turn us into the biggest club in the world. Then the next 5 posts would be we are doomed, relegation next season, no new signings blah blah negative blah. Half of you are so indoctrinated in failure that you would be better off supporting United
10.) 28 Jun 2014
We will find out shortly what the real story is but it is no surprise to me that Mr M manages his cashflow tightly by making big payments as late as possible. That is good business practice. It is easy to be righteous about administrative errors but they happen all the time in big business even with the best of intentions and it is easy to see how someone overlooked a mismatch between Azerbaijzan and French banking days. I'm not ready to read anything untoward into this yet although obviously with our history of tricksters and sharks sniffing around the club, it is natural to be on our guard. Keep the faith - next week will reveal the truth!
11.) 28 Jun 2014
I think all will be fine with the pending take over, but we need to be patient and realise success maybe a good few seasons away yet. don't be surprised if its another long nail biting season. uto. halifax owl.