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Futbol

Sheff Wed Players Not Paid Due To Chansiri Cashflow Issues

Sheffield Wednesday have failed to pay their players' wages for March due to cashflow problems suffered by owner Dejphon Chansiri. The club said it was a "temporary issue" due to debts owed to the 56-year-old Thai businessman, whose family control the Thai Union Group, the world's largest producer of canned tuna. Wednesday are 12th in the Championship - five points outside the play-off places - and face Hull City at home on Saturday. "Sheffield Wednesday can confirm a temporary issue with the payment of player salaries for the month of March," said a club statement. "This has occurred as a result of significant sums of money owed to the chairman's businesses which has in turn impacted on the club's immediate cashflow. "The chairman is working hard to resolve this situation at the earliest possible opportunity and in the meantime thanks everyone for their patience and understanding." The Professional Footballers' Association are aware of the Owls' issues and are in touch with the club's players. Chansiri headed up a Thai consortium which bought Wednesday from Milan Mandaric in January 2015, but his time in charge of the club has seen a number of financial challenges. In July 2019, Wednesday sold their Hillsborough stadium to Chansiri for about £60m in ensure they did not breach spending rules. Then in October 2023, Chansiri asked fans to raise £2m to help the club pay an outstanding debt to HM Revenue and Customs (HMRC) and cover wages. Last November, the Owls were placed under a registration embargo by the EFL over amounts owed to HMRC. Chansiri's stewardship of the club has been criticised by fans, who have protested at matches this season, while his relationship with manager Danny Rohl has become strained. A growing number of fans are angry and demanding answers after it emerged that, not for the first time during Chansiri's reign as Sheffield Wednesday owner, the Owls players have not been paid on time. Many are asking why the club sells season tickets in an early-bird window before Christmas yet by March, there isn't enough money to even pay wages? A statement claims it's down to "significant sums of money" being owed to Chansiri's other businesses, "impacting immediate cashflow". However, you get the sense patience for a lot of people has run out. The club was placed under a second registration embargo in 12 months by the EFL last November over amounts owed to HM Revenue and Customs. Now this. How financially sustainable is this club? What exactly is the future of Sheffield Wednesday? These are questions that need to be answered with more than just a statement. Fans are worried and some will feel embarrassed. They deserve answers. This latest admittance will lead to growing calls for Chansiri to sell the club. The Owls might be five points off the play-offs but they lack the solid base that typically accompanies teams challenging for the top flight. Fans dream of a Premier League return after 25 years but it's not realistic in this environment. The club is a long way off in terms of infrastructure and finances. It's the latest reason why a talented young manager in Danny Rohl, the club's greatest asset, may leave amid reported interest from elsewhere.

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News_Naija

Reduce Housing Sector Taxes, Operators Urge Govt

Stakeholders in the housing sector have said that the multiple taxes levied on the private sector were stifling the industry. The President, Association of Town Planning Consultants of Nigeria, Bisi Adedire, identified multiple taxation/levies on land across the ministry and agencies of government as issues affecting private sector operators in the built industry. He disclosed this at a two-day workshop in Ogun State themed, “The impact of emerging technologies on urban and regional planning: challenges and opportunities.” He said, “While the levies are necessary to enhance the capacity of the government to provide essential services to drive development, the burden hurts property developers, especially when they’re compelled to pay everything upfront while construction has not started on their plots of land. The Federal Government should look into it and adopt a system that would be beneficial to all stakeholders.” In a similar vein, an estate surveyor, Olorunyomi Alatise, said the multiplicity of taxation in the housing sector was one of the reasons people were reluctant to regularise their landed property. He said, “You just acquired a property and you are trying to process your Certificate of Occupancy, but at the point of doing this, part of the things you need is a tax clearance, and tax clearance is evidence that you do not owe the state. Also, you will pay capital gains tax, the tenement rate, which has been harmonised into the land use charge, and other taxes. By the time they itemise the different taxes you are to pay, you find out that it is a lot for someone that just acquired a property.” Meanwhile, the Permanent Secretary of the Ministry of Physical Planning and Urban Development, Lagos State, Oluwole Sotire, said the government has a responsibility to render service to the people it serves, but also noted that citizens, too, are expected to pay land taxes/levies. “We must first of all understand that citizens have to pay taxes or levies to the government. Whether it is equitable is another question. However, efforts should be made to involve proper stakeholders and the rest of the citizens to ensure beneficial planning and good governance,” he said. Speaking on planning regulations as something beneficial to everyone, he lamented that citizens, including individuals in government, sometimes latch onto the weak end of government to cut corners and contravene the planning regulations.. He added, “There is a case now even in Ogun State, just like a Certificate of Occupancy has been granted to a gentleman. They issued a C-of-O to one person for about 4.5 hectares of land at Otta. Before you know it, those we say are government officials at the land went ahead and cut part of it simply because the land has been lying fallow for a good number of years. “They believe it may be that the person is dead. They cut about half of the 2.2 hectares and issued another C-of-O. The case is still on the ground. We wrote a letter to the ministry stating that this C-of-O has been issued for the past 15 years by the government, and it is the same government that has issued another one that cuts across that portion of the land. “So, the fact that people know that I’m working on that site, they have to call to my attention that somebody has started constructing a fence around that place. We have submitted our letter to the government, the governor, the lands commissioner, and every other agency. Up till today, nothing has come out of it, and the guy(encroacher) is still developing that site. So, at times, the government can be a problem to society.” The Chief Executive Officer, Pelican Valley, Babatunde Adeyemo, advised the government to be more practical and realistic with land acquisition by always following due process as well as provide basic services or infrastructure necessary to ignite development in the acquired areas, warning that development would remain elusive in the estate until the right things are put in place. He said, “The rules are there. I think what we need to do is a strategic orientation. There should be proper orientation and enforcement for people to follow laid down rules and regulations because they are coined by people, the intellectuals, and the regulations didn’t fall from the sky, and once we are able to enforce that I believe we will be able to better the lives of people and the government. “The problem in Nigeria is not about policy formulation.  It is all about implementation. When formulating the policies, I always believe that people in authority – the President, governors, and ministers have advisers before they go into acquisition..Let me talk about the Muhammad Buhari Estate in Kobape. The problem here wasn’t all about acquisition, I believe it is the wrong implementation of acquisition. “We need to be more practical and strategic when we are doing land acquisitions. You don’t just go to clear villages when you can’t put infrastructure in place to ignite the development. Who is going to be the first person to live there?”

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Futbol

Bournemouth Reveal Kerkez Price Tag - Tuesday's Gossip

Bournemouth reveal Milos Kerkez price, Manchester City interested in Arsenal defender William Saliba and Cristiano Ronaldo's reported move to Inter Milan is not serious. Bournemouth want £45m for Hungary full-back Milos Kerkez, 21, amid interest from Liverpool. (The Times - subscription required), external Manchester City will try to sign Arsenal and France defender William Saliba this summer, with the 24-year-old also a target for Real Madrid. (Defensa Central - in Spanish), external AC Milan's Netherlands midfielder Tijjani Reijnders, 26, is also a target for Manchester City having already made contact with the Serie A club. (Teamtalk), external The possibility of 40-year-old Portugal forward Cristiano Ronaldo, whose contract with Saudi Pro-League side Al Nassr expires in the summer, joining Inter Milan for the Club World Cup is not a serious one for the Serie A club. (Tuttosport - in Italian), external Arsenal are considering Eintracht Frankfurt and France striker Hugo Ekitike, 22, as an alternative to Newcastle's Sweden goalscorer Alexander Isak, 25. (Daily Mirror), external Chelsea are not currently expecting to sign a new first-team goalkeeper in the summer. Blues boss Enzo Maresca will instead allow 25-year-old Serbian Djordje Petrovic, currently on loan with Strasbourg, and highly-rated Belgian Mike Penders, 19, who is joining from Genk, to challenge for the spot. (Telegraph - subscription required), external Arsenal and England winger Bukayo Saka will enter new contract talks, with the Gunners' new sporting director Andrea Berta keen for the 23-year-old to sign a new long-term deal. (Fabrizio Romano), external Barcelona say their Spain midfielder Pedri is not up for sale amid reports linking him with Manchester City, who believe the 22-year-old would be the ideal replacement for Kevin de Bruyne. (Marca - in Spanish), external Former Tottenham managing director Fabio Paratici is set to become AC Milan's sporting director in June when the 52-year-old Italian's current ban from football activities in his homeland ends. (Calciomercato - in Italian), external

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News_Naija

SEC Warns Influencers, Bloggers Against Promoting Unregistered Schemes

The Securities and Exchange Commission has warned influencers, bloggers, and celebrities to desist from promoting unregistered investment schemes or risk legal consequences. In a statement made available to our correspondent on Sunday, the warning follows the enactment of the Investments and Securities Act 2025, which was signed into law by President Bola Tinubu. The new law explicitly defines Ponzi schemes and empowers the Commission to impose a minimum fine of N20m and a jail term of 10 years on promoters of such schemes. Speaking on the new provisions, the SEC’s Director-General, Emomotimi Agama, said that the Commission is working closely with the Economic and Financial Crimes Commission, the Nigeria Police Force, and other law enforcement agencies to investigate and prosecute violators. “The law also targets influencers and bloggers who promote fraudulent schemes, with clear penalties including imprisonment. We are therefore using this medium to warn such persons to desist from promoting unregistered entities,” Agama said. He noted that the SEC is intensifying its crackdown on Ponzi operators following the collapse of CBEX, a digital investment platform accused of defrauding Nigerians of over N1.3tn. CBEX reportedly lured investors with promises of unrealistic returns and false claims of global affiliations. “We will shut down their operations and the promoters will be made to face the full weight of the law,” Agama stated. According to the SEC boss, the ISA 2025 also brings digital assets under the regulatory oversight of the commission for the first time. He said virtual assets are now officially recognised as securities, and as such, Virtual Asset Service Providers and Digital Asset Exchanges are mandated to register with the SEC and comply with relevant rules. Agama emphasised that education remains a key part of the SEC’s strategy to protect Nigerian investors. “We have launched a podcast where we educate and enlighten Nigerians on the dangers of investing in unregistered schemes,” he said, adding that the commission is also pushing capital market education into schools and universities. The commission advised the public to always verify the registration status of any investment scheme with the SEC before parting with their funds. “Once it is too good to be true, it certainly is not true,” he warned. He also revealed that the SEC has established specialised departments to monitor market activities, conduct inspections, and detect early signs of fraud. “We have a monitoring department. We also do onsite inspections. Once we hear anything, we do something,” he said. Agama reiterated the SEC’s commitment to investor protection and market development. “The capital market helps you to democratise wealth for everybody. The ISA 2025 thus represents a significant step forward in protecting Nigerian investors and fostering a resilient financial market,” he said. The PUNCH reported that the Securities and Exchange Commission has issued a fresh warning to Nigerians, declaring that all investment and digital asset platforms not registered with the Commission are operating illegally.