PL charge City for alleged breaches of financial rules

[StillBluessinceHydeRoad]

Just seen that Etihad Airways are thinking of going on the stock market thingy. Apparently that is good news for us because it means Etihad Airways accounts will be open to everyone.

The article states that Etihad Airways wouldn't be doing this if they had committed fraud with City in the sponsorship deal.

City sponsors' plan deals big twist amid Premier League's 115 financial charges

Manchester City are facing 115 charges from the Premier League for breaking financial regulations but the club's owners could potentially navigate the charges with a fresh idea

www.mirror.co.uk

Although the same character has penned an article for the MEN which argues that opening up Etihad's books to the world could be a "bombshell" which proves der Spiegel claims that Etihad only actually paid £8 million of the sponsorship which "would breach financial rules set by both the Premier League and UEFA while it could also suggest a fraudulent conspiracy between City's top brass and Etihad executives according to one industry source." It does seem unlikely that Etihad would launch the IPO with an admission of fraud!

 

[Tracking back]

PB.

I asked the question. Don’t think it got a reply looking back. Do you know the reason or reasons why 1 of the 3 CAS Judges found City guilty? Was their reason/reasons ever stated in the judges final decisions? Thanks.

Probably a boyhood fan of one of the red top clubs. ;-)

 

[lancs blue]

PB.

I asked the question. Don’t think it got a reply looking back. Do you know the reason or reasons why 1 of the 3 CAS Judges found City guilty? Was their reason/reasons ever stated in the judges final decisions? Thanks.

CAS don't appear to publish details of minority verdicts.

 

[give it to gordon]

I still dont understand all this shit about the Etihad and City sponsorship. Why put money into another company for that company to than put it into Etihad Airways who than put it into City ?

Why didnt our owner just put money straight into City by one of his other companies.

Just copy Leicester City were the owner use his own company to sponsor the stadium and shirts.

It seems so much more simpler way of putting your own money into your own club. City are alleged to have gone round the houses to put money in, when Leicester way is so much easier.

Why not copy what Leicester have done ?

 

[Rory Bluelow]

Proud to say that my vocabulary and knowledge of law and accounting has increased exponentially by following this thread !

Indubitably, in an affirmative sense.

 

[Gaylord du Bois]

Probably a boyhood fan of one of the red top clubs. ;-)

Here he is.

 

[halfcenturyup]

PB.

I asked the question. Don’t think it got a reply looking back. Do you know the reason or reasons why 1 of the 3 CAS Judges found City guilty? Was their reason/reasons ever stated in the judges final decisions? Thanks.

Dissenting opinions weren't published, nor were details of who voted how. But it's a good guess that it was the "judge" chosen by UEFA who voted in their favour every time.

He also got one of his monkeys to write a piece in the German press about how the CAS award was completely wrong, iirc.

Presumably he likes being chosen by UEFA. You can't trust these bloody foreigners, of course.

 

[eastmanc]

We're giving the likes of Jerk Off Jordan enough rope to professionally hang themselves with. His hackneyed anti-City diatribes will have zero credibility left once this witchhunt is over.

Jordan isn't an accountant or lawyer & has based his entire anti-City ANALysis on "It's well known within football circles, blah, blah, blah". Fuckin bollocks! He's just making shit up, passing off his personal opinion as fact, & spreading spurious trash talk just to fill in his minutes on Talkshite.

Jordan on Friday was dismissing Stefan's view that the City's case will take time because of the severity and seriousness of the accusations against a multi billion pound organisation. He was saying that he didn't care what Stefan said and that football was suffering due to City stretching the case out and that he had brought case against someone, haven't got a clue who and it didn't take this time. What an idiot this man is.

 

[Rory Bluelow]

City spending £300m on the stadium so obviously don't think there's a risk of being found guilty.
Rags appointing berrada as CEO so they don't think there is a risk of city being guilty.
Etihad opening the books for the world to see so they don't have anything to hide.

Only one way this is going.

It’s looking very promising isn’t it. All the indicators seems to be pointing the right way,

 

[halfcenturyup]

You may be right from a legal perspective, but there are political dynamics at play here and things could unravel very quickly. None of us know what is actually going on behind the scenes we can only guess.

I am not so sure. My feeling is that the PL has to carry this through to the end. It would be organisational suicide not to. Even if Masters is removed, the PL will have to continue the process to its completion imho.

It's better (not by much in the current climate, granted) for the PL to fight and lose than to give up after a year of (effectively) tub-thumping.

 

[west didsblue]

All the football investments were transferred into an intermediate holding at cost. I was thinking at the time there must be something substantial planned to do that. Football investments in one holding , some new entertainment ventures (Sony? Disney?) in another, maybe? Maybe the Arena as well?

Float the football investments to raise funds for the others?

Exciting times coming, I think. If you like the wider picture, at least.

I think it was more a case of all the UK assets being transferred into a CFG intermediate holding company to keep things simpler from a tax perspective. Investments in each country are put into individual intermediate holding companies with CFG as the umbrella over all of them.

 

[jrb]

 

[halfcenturyup]

Jordan on Friday was dismissing Stefan's view that the City's case will take time because of the severity and seriousness of the accusations against a multi billion pound organisation. He was saying that he didn't care what Stefan said and that football was suffering due to City stretching the case out and that he had brought case against someone, haven't got a clue who and it didn't take this time. What an idiot this man is.

Did he explain exactly how football is suffering?

 

[KS55]

All the football investments were transferred into an intermediate holding at cost. I was thinking at the time there must be something substantial planned to do that. Football investments in one holding , some new entertainment ventures (Sony? Disney?) in another, maybe? Maybe the Arena as well?

Float the football investments to raise funds for the others?

Exciting times coming, I think. If you like the wider picture, at least.

Yes, they would not do that restructure for no reason. Watch this space.

 

[wolviedinho]

The IPO piece in the mail is way down the pecking order. Without even reading it, the fact it’s buried deep shows it ain’t good news for the red cartel and the media.

Hide any positive story. Anything negative goes and stays as top story.

 

[Gone for a Burton]

It's not just the risk of a miscarriage of justice the club have to avoid, it's the media witch hunt that has reached fever pitch.

If these charges are found to be unfounded and the case is dropped leading to MCFC being cleared and exonerated of any wrongdoing; does anyone really believe that the British media will except that outcome gracefully?

They'll be sharpening their knives and plotting a new narrative based on cover ups and payoffs.

That old adage springs to mind: "you're damned if you do and damned if you don't"

It feels to me that this smear campaign has nothing to do with seeking justice and everything to do with providing the media outlets, broadcasting media, pundits and footballing fraternity a legitimate way to avoid celebrating the collosal strides and achievements MCFC have achieved over the past fifteen years.

It's not just the risk of a miscarriage of justice the club have to avoid, it's the media witch hunt that has reached fever pitch.

If these charges are found to be unfounded and the case is dropped leading to MCFC being cleared and exonerated of any wrongdoing; does anyone really believe that the British media will except that outcome gracefully?

They'll be sharpening their knives and plotting a new narrative based on cover ups and payoffs.

That old adage springs to mind: "you're damned if you do and damned if you don't"

It feels to me that this smear campaign has nothing to do with seeking justice and everything to do with providing the media outlets, broadcasting media, pundits and footballing fraternity a legitimate way to avoid celebrating the collosal strides and achievements MCFC have achieved over the past fifteen years.

Over exaggeration of any negative...

Under appreciation of our remarkable achievements...

Bitterness,envy & denial i plain sight.....

The future is BLUE

It's not just the risk of a miscarriage of justice the club have to avoid, it's the media witch hunt that has reached fever pitch.

If these charges are found to be unfounded and the case is dropped leading to MCFC being cleared and exonerated of any wrongdoing; does anyone really believe that the British media will except that outcome gracefully?

They'll be sharpening their knives and plotting a new narrative based on cover ups and payoffs.

That old adage springs to mind: "you're damned if you do and damned if you don't"

It feels to me that this smear campaign has nothing to do with seeking justice and everything to do with providing the media outlets, broadcasting media, pundits and footballing fraternity a legitimate way to avoid celebrating the collosal strides and achievements MCFC have achieved over the past fifteen years.

 

[halfcenturyup]

I think it was more a case of all the UK assets being transferred into a CFG intermediate holding company to keep things simpler from a tax perspective. Investments in each country are put into individual intermediate holding companies with CFG as the umbrella over all of them.

You may be right (although I don't get the tax benefit), but, whatever happened, the capital of the new UK holding exactly equalled the cost of all the investments in CFG (it was a very precise number) which at that stage, I think, were all football-related assets.

 

[KS55]

In this country if you can afford it you absolutely do just that given the list of miscarriages of justice.

The risks are what determines the legal effort. Idiots who are saying City will be relegated are also questioning our need for a powerful legal team. Bonkers.

 

[eastmanc]

Did he explain exactly how football is suffering?

Er, no. Its one of his throw away soundbites. His has all his bases covered with this . On one hand he says City won't be found guilty and then on the other he says that we have a case to answer.

 

[LeonardoDaVnci]

City spending £300m on the stadium so obviously don't think there's a risk of being found guilty.
Rags appointing berrada as CEO so they don't think there is a risk of city being guilty.
Etihad opening the books for the world to see so they don't have anything to hide.

Only one way this is going.

And when the IR comes into place future CEOs of the PL will NEVER again be invited to the swamp or Klanfield for special cartel vetting interviews. Future Chairmen of the PL will NEVER again be self proclaimed life long season ticket holding rags. The strategic transfer of execs from the cartel clubs into "rule" forming parts of UEFA and FIFA will be treated with micro scrutiny by the IR.