Yorkshire news Sheffield Wednesday's Championship rivals hit out after EFL ruling PremierLeague-News.Com

PremierLeague-News.Com - Luton Town have released a statement confirming the club are under a temporary transfer embargo but have reassured supporters it will not affect their summer transfer plans

Yorkshire news Sheffield Wednesday's Championship rivals hit out after EFL ruling PremierLeague-News.Com

PremierLeague-News.Com - Luton Town have released a statement confirming the club are under a temporary transfer embargo but have reassured supporters it will not affect their summer transfer plans

Yorkshire news  Sheffield Wednesday's Championship rivals hit out after EFL ruling PremierLeague-News.Com
06 April 2021 - 10:30

PremierLeague-News.Com - Breaking Sport Transfer News ! Sheffield Wednesday's Championship rivals Luton Town have confirmed they have been placed under a temporary transfer embargo. A report in today's Daily Mail revealed that the mid-table Hatters, along with the Owls and eight other Championship clubs, had been handed out such a punishment after failing to submit their accounts for the 2019/20 season. It has led to claims the integrity of the competition has been seriously undermined and fears that some second-tier clubs are facing ‘financial Armageddon’. The Mail says Coventry City, Birmingham City, Blackburn Rovers, Cardiff City, Derby County, Huddersfield Town, Reading and Stoke City are the other clubs in question. The report suggests Huddersfield have now come off the list while Stoke are expected to follow suit. Yorkshire Live understands reports the English Football League have placed Wednesday under an embargo are accurate. It is understood the reason behind the embargo is that their accounts for the 2019/20 season have yet to be submitted after they were in turn delayed by the submission of the 2018/19 accounts and the ensuing disciplinary process that followed the club's points deduction appeal. It is thought there is no reason to panic and the club expect to be able to trade come the summer. Clubs have been hit hard financially during the pandemic with no income from crowds. There are growing fears that many clubs will be be unable to strengthen their squads for next season. The EFL declined to comment. A spokesperson said: “The league does not confirm the names of clubs placed under registration embargo.” Lutony, managed by Nathan Jones, have reassured supporters of their plans to strengthen in the summer transfer window, despite the EFL imposing an embargo on the club. Read More Related Articles Why Sheffield Wednesday have been hit with another transfer embargo Read More Related Articles Barry Bannan's epic display in Cardiff rout breathes new life into Sheffield Wednesday's season A statement on the Hatters website read: "Our first embargo for a decade is simply an anomaly brought about by an unsynchronised timing of financial reports due to the pandemic.

News source = PremierLeague-News.Com

. "Given the exceptionally difficult operating environment caused by the pandemic the requirement to continue to play “behind closed doors”, financial forecasts have rightly been scrutinised much more thoroughly and Companies House provided an extension of the statutory filing deadline to June to create sufficient time to complete this additional work accurately. Indeed, the club will publish unqualified accounts before the end of April. "However, EFL rules couldn't be adjusted to meet the Companies House extension and require that signed accounts still needed to be submitted in March, which the club was unable to achieve. The matter will be resolved as our auditors conclude the report in the next couple of weeks. Yorkshire Football App - Owls Yorkshire Live has launched a new dedicated football app to bring you the one stop shop for all Sheffield Wednesday news. Football Yorkshire brings you the latest transfer developments, live match coverage, injury updates and all the daily news from Hillsborough. You can customise the app to your own preferences and stay across everything you need to know, while joining the debate with Owls fans in our comments section. Download the app by clicking here https://smarturl.it/YorkshireFactbox "We would like to reassure all of our supporters that this situation will not affect any of the Club’s plans for the summer transfer window, which does not open until the end of the current season, and makes no difference to the day-to-day running of the Club currently. "There is certainly no 'financial Armageddon', as the article's headline sensationally claims, at Kenilworth Road." Like Luton, Coventry have also released a statement on Tuesday morning, confirming that they are currently operating under an embargo. The transfer market does not reopen until the summer. Read More Related Articles Every word Jamie Smith said on Cardiff City demolition job, Barry Bannan and Darren Moore Read More Related Articles Sheffield Wednesday player ratings: Barry Bannan and Adam Reach star in rampant Cardiff City win

Source = PremierLeague-News.Com

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