The HSBC Letter

Discussion in 'The Hornets' Nest - Watford Chat' started by PSYCHO 1, Oct 24, 2016.

  1. Bonkingbob

    Bonkingbob First Year Pro

    Wouldn't a points deduction be best applied in the event of obtaining a footballing advantage? I'm not sure that a transfer of ownership between two family members would make a huge difference on the pitch (unless you sign messi on a Player/owner contract)
     
  2. Godfather

    Godfather bricklayer extraordinaire

    It's an absolutely victimless crime, that much is certain.
     
  3. Nnnn

    Nnnn First Team

    Well I for one will never buy the Telegraph again so that'll show them. Erm...not that I've ever bought one. But I definitely won't now. Barstewards.
     
  4. Nnnn

    Nnnn First Team

    That's slightly worrying. I can't say I've seen any comments on all this from the FA or Prem. Is there a link?
     
  5. Nnnn

    Nnnn First Team

    Especially if we beat Hell at the weekend & go above ManUre in the table. We need to be stopped for the good of the beautiful game.
     
  6. Hornet23

    Hornet23 First Team

    Really, what did you expect when you started this thread?
     
  7. UEA_Hornet

    UEA_Hornet First Team Captain

    Yes, it's in the Telegraph article. The EFL intend to hand over whatever they get to the FA apparently.
     
  8. We hate 48

    We hate 48 Reservist

    The letter is not addressed to the EFL-its to Hornets Investments Ltd. Privity of contract-how can a third party -the EFL-rely on that

    It says it has sufficient financial resources so that if needed HSBC could issue a cash backed unsecured bank guarantee-but is the guarantee unsecured or cash backed-it cannot be both-it is either secured by cash or its unsecured

    And nothing has emerged to say that a guarantee was ever issued so on the strength of a letter that purports to say that as at that date it had resources to cover the whole season seems hardly "cast iron"-if the EFL had doubts it should have asked for a guarantee otherwise what if the money was withdrawn the next day-15 July 2014 then the club would not have had the resources to complete fixtures over the next 10 months

    The EFL reliance on a letter not addressed to them, was inconsistent in the nature of the guarantee that could be issued and was hardly cast iron about resources over the next 10 months, looks weak
     
  9. GoldCoastHornet

    GoldCoastHornet Academy Graduate

  10. miked2006

    miked2006 Premiership Prediction League Proprietor


    Expert? Let's get him!
     
  11. IRB

    IRB THe artist formally know as ImRonBurgundy?

    New bombshell from the Telegraph:

    http://www.telegraph.co.uk/football/2016/10/25/watford-probed-over-vast-number-of-foreign-loan-signings/

    Watford were once probed for tax info by HMRC Andy the dispute was ultimately settled in the club's favour

    #dontbuythet*legraph
     
  12. TomH

    TomH First Year Pro

    They're really trying to throw shade our way aren't they.

    That article may as well read as 'company asked questions over tax, company provides information and shows everything is as it should be'. You would probably find any big company up and down the country at some point has been asked similar questions related to their tax affairs. It's such a non-story and probably only exclusive because it hasn't been worth anyone reporting it.
     
  13. Diamond

    Diamond First Team

    Starting to get the proper hump with the Telegraph. This is the same paper that absolutely slated us under GT and labelled us long ball, and this is the same paper that will absolutely wet themselves when we beat their beloved Tottenham.
     
  14. hornmeister

    hornmeister Tired

    The lack of comment ability is what annoys me the most.

    I'd like to be able to say that becasue the previous owner shafted us, and the EFL did nothing to prevent that and actually penalised us for it, we were under a transfer embargo so had to use the loan system.

    It's a classic case of knowing a little about a subject, presenting a biased side in the interest of gaining clicks. I'm actually considering censoring the word telegraph from this site so they don't get and clicks through from us anymore.
     
  15. Today's Tele story is absolutely laughable.

    Did they get abuse for Jonathan Liew's article the other week - is that why they don't like us?
     
  16. Roger Irrelevant

    Roger Irrelevant Reservist

    This from a paper owned by the Channel Island dwelling Barclay brothers.
    Peter Oborne was spot on about the Telegraph.

    It is also the paper with the most upheld IPSO complaints.

    Maybe someone there has a hidden agenda against our club. Though this is pure speculation.
     
  17. Otter

    Otter Gambling industry insider

    When the Allardyce story broke there was a rumour that the Telegraph had more dirt, the next target was the Barnsley assistant manager and then they disclosed a conversation with Hasslebaink; then it was revealed that it was a fib that the reporter had loads of other juicy stuff. So either (a) the Telegraph have indeed run out of $hit to uncover or (b) the $hit they had concerned a big club and were advised not to print it; either way their football corruption line has gone quiet so they're appearing to beef up this story to be bigger than it really is. I'm not saying this shouldn't be taken seriously but in the grand scheme of things this is not corruption nor did the club gain from it, and it's highly likely that the Pozzo's and Duxbury and possibly Riva didn't know about it.
     
  18. Levon

    Levon Squad Player

    HMRC: These foreign loans look dodgy. We want to see your tax filings.
    Watford: Uh, okay, sure.
    HMRC: *studies filings*
    HMRC: Yep, all seems in order. Thank you for your cooperation.

    Two years later:
    Telegraph: Hurr durr Watford are a dodgy club, look at this blatant wrongdoing, dodgy Italian owners, foreign players, Britain First, clean up football etc etc
     
  19. onion8837

    onion8837 Reservist

    Complete non-article. They must be getting desperate already
     
  20. Cassetti's Beard

    Cassetti's Beard First Team

    Poor Telegraph, they really thought they had a 'big scoop' here, I can only imagine Ben Rumsby (Journalist) actually thought people would care about little old Watford. Had it been Chelsea, Liverpool, United etc. then perhaps they'd get a bit of traction going. I don't it think it even trended on tw@tter. Today's article reeks of further desperation from a very desperate journalist.
     
    Last edited: Oct 26, 2016
  21. onion8837

    onion8837 Reservist

    Have had a little chat with Ben on Twitter. ****.
     
  22. Hearing tomorrow's big reveal is that Gino was once given a parking ticket.

    However, it was successfully appealed.
     
  23. Levon

    Levon Squad Player

    No, they won't report that until 2019.
     
  24. No, this was when he took over; he briefly stopped on Vicarage Road.
     
  25. UEA_Hornet

    UEA_Hornet First Team Captain

    In fairness that only happened because the Queen wrote him a lovely character reference letter.
     
  26. wfcmoog

    wfcmoog Tinpot

    Tax fraud. Worrying if true
     
  27. IRB

    IRB THe artist formally know as ImRonBurgundy?

    Big if true
     
  28. Nnnn

    Nnnn First Team

  29. UEA_Hornet

    UEA_Hornet First Team Captain

    The FA chairman has chipped in now:



    Reads like a fairy tale to me. Why would the EFL suddenly now be reviewing paperwork relating a low profile internal change of ownership structure at a club which left their competition 18 months ago?
     
  30. I Blame Pozzo

    I Blame Pozzo First Team

    Mr Clarke would be better off making a complete pig's ear of the England appointment,like his predecessors have, rather than comment on this old pile of crud.
     
  31. hornmeister

    hornmeister Tired

    Mr Clarke would be better off not using the term misfeasance twice in one paragraph. It make him sound like an arse.
     
  32. I Blame Pozzo

    I Blame Pozzo First Team

    Just so!

    My dictionary doesn't even include it once!
     
  33. Aberystwyth_Hornet

    Aberystwyth_Hornet Squad Player

    Interesting he worked for them at the time, if it causes him embarrassment then I think we will have the book thrown at us
     
  34. Godfather

    Godfather bricklayer extraordinaire

    As I said I suspect there may be an element collusion here ... it wouldn't surprise me one bit if it turns out the letter was actually "drafted" on some EFL back office computer.
     

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