PL charge City for alleged breaches of financial rules

SilverFox2 said:
Don't you think we could and can afford our heavy fines whereas United are in just a bit of financial trouble at the moment.

Historically they have not had to worry about servicing their massive debt so its only right we should understand this and help them get back to pretending that only investment is a crime.
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The real issue for me is exactly that ! United are the only premier league team who broke the rules during covid when every side lost huge income due to empty grounds ! They have £850m of dept now, owe £200m in outstanding transfer fees and for the first time I can remember have had to work to a transfer budget ! They have not attracted any significant new sponsership deals in over 2 years ! I think theve got bigger finance problems then the media and themselves are making out ! The Glazere are demanding £6b if they sell the club and are only getting offers from interested parties of about £5b because to clear the dept is going to cost them the thick end of another £1b before they can even begin to throw cash at anything else ! To quote Mr Simon Jordon United's unofficial press officer "They have incredible commercial income due to the historic and unrivaled history of being the biggest club in the world ". Well Simon why have they just failed to meet FFP ? they have debts that are becoming unmanageable ! They posting income of £630m last year their dept is £850m and rising they owe £200m to other clubs I'm no financial expert but if you have debts of over £1b in total compared to income of £630m ?? They service the loan dept of £850m by paying of of the yearly interest rates so the dept increase each year rather like paying the minimum payment of a credit card each month. The media can spin what they like this club has bigger problems they are prepared to admit.
 
Jacko1956 said:
The real issue for me is exactly that ! United are the only premier league team who broke the rules during covid when every side lost huge income due to empty grounds ! They have £850m of dept now, owe £200m in outstanding transfer fees and for the first time I can remember have had to work to a transfer budget ! They have not attracted any significant new sponsership deals in over 2 years ! I think theve got bigger finance problems then the media and themselves are making out ! The Glazere are demanding £6b if they sell the club and are only getting offers from interested parties of about £5b because to clear the dept is going to cost them the thick end of another £1b before they can even begin to throw cash at anything else ! To quote Mr Simon Jordon United's unofficial press officer "They have incredible commercial income due to the historic and unrivaled history of being the biggest club in the world ". Well Simon why have they just failed to meet FFP ? they have debts that are becoming unmanageable ! They posting income of £630m last year their dept is £850m and rising they owe £200m to other clubs I'm no financial expert but if you have debts of over £1b in total compared to income of £630m ?? They service the loan dept of £850m by paying of of the yearly interest rates so the dept increase each year rather like paying the minimum payment of a credit card each month. The media can spin what they like this club has bigger problems they are prepared to admit.
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Just wait until the try to re-finance the debt, interest rates across the world are much higher now, they'll sink under this, could even go bust!
 
Jacko1956 said:
The real issue for me is exactly that ! United are the only premier league team who broke the rules during covid when every side lost huge income due to empty grounds ! They have £850m of dept now, owe £200m in outstanding transfer fees and for the first time I can remember have had to work to a transfer budget ! They have not attracted any significant new sponsership deals in over 2 years ! I think theve got bigger finance problems then the media and themselves are making out ! The Glazere are demanding £6b if they sell the club and are only getting offers from interested parties of about £5b because to clear the dept is going to cost them the thick end of another £1b before they can even begin to throw cash at anything else ! To quote Mr Simon Jordon United's unofficial press officer "They have incredible commercial income due to the historic and unrivaled history of being the biggest club in the world ". Well Simon why have they just failed to meet FFP ? they have debts that are becoming unmanageable ! They posting income of £630m last year their dept is £850m and rising they owe £200m to other clubs I'm no financial expert but if you have debts of over £1b in total compared to income of £630m ?? They service the loan dept of £850m by paying of of the yearly interest rates so the dept increase each year rather like paying the minimum payment of a credit card each month. The media can spin what they like this club has bigger problems they are prepared to admit.
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You are probably right on all your well made points.
I think that the insistence of the older historically wealthy clubs in taking large sums from football sector has allowed City to grow its brand.
Suddenly our business plan has proved to be financially superior to the special case that football was supposed to be.

Catching up is proving expensive for our enemies at a time their owners should stop their yearly dividends and stabilise the real financial boat for a few years but will they?
I doubt it and they will rely on hope and rule changes against us to stop the cash drain in our direction.

By all means service a debt but there is no value in not paying it off when you can if only to have insurance against potential income problems.
 
rice10 said:
If this has been asked and I have missed it, my apologies.

When we “failed” FFP back in 2014 was it not for roughly the same thing, failing to break even? Seems a huge disparity in fines, or am I missing something obvious?
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WRicko said:
Yes asked before for comparison but not getting one. Guess it depends on the amounts involved and they will argue Covid mitigation but we would argue new rules new club at the top table heading in the right directions.

Also should be dependent on revenue small clubs small fines that clearly not the case here but don’t know exactly how much United earn now or us back then.
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In 2014 we failed FFP by a considerable amount, about £80m iirc. However there was a get-out clause in FFP at the time that meant if you met certain conditions, even if you failed FFP you wouldn't be sanctioned.

We were on course to meet those conditions, but UEFA moved the goalposts, meaning
instead of being just inside the allowable amount, we were about £2m over it. And for that £2m, a situation that UEFA had manufactured, we were fined about £16m, along with other sanctions.
 
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Prestwich_Blue said:
In 2014 we failed FFP by a considerable amount, about £80m iirc. However there was a get-out clause in FFP at the time that meant if you met certain conditions, even if you failed FFP you wouldn't be sanctioned.

We were on course to meet those conditions, but UEFA moved the goalposts, meaning
instead of being just inside the allowable amount, we were about £2m over it. And for that £2m, a situation that UEFA had manufacture, we were fined about £16m, along with other sanctions.
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C'mon PB, it was €60m. If the all knowing Simon 'The Ronseal Man' Jordon says it was €60m, it was €60m.

No arguing. it was €60m as he likes to tell everyone. I know he says it was reduced for good behaviour but it was still €60m.
 
tregyblue61 said:
C'mon PB, it was €60m. If the all knowing Simon 'The Ronseal Man' Jordon says it was €60m, it was €60m.

No arguing. it was €60m as he likes to tell everyone. I know he says it was reduced for good behaviour but it was still €60m.
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It was 60 wasn't it? 30 paid, 30 suspended and not later paid?
 
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