PL charge City for alleged breaches of financial rules

A lot of dodgy sounding deals coming out of Chelsea. It would be easy to go down the cheat road and they are fucked but due to the shit thrown city’s way with no actual evidence I am going to defer from calling them out. They may have found workable ways around ffp and related ownership.

I hope they have tbh as the whole financial thing is fucking stupid, ill thought out and badly implemented.

Football is greedy and self serving. Once you start at that point, anything is possible with these cunts who “run”the “show”.
 
Last edited:
wolviedinho said:
A lot of dodgy sounding deals coming out of Chelsea. It would be easy to go down the cheat road and they are fucked but due to the shit thrown city’s way with no actual evidence I am going to defer from calling them out. They may have found workable ways around ffp and related ownership.

I hope they have tbh as the whole financial’ thing is fucking stupid, ill thought out and badly implemented.

Football is greedy and self serving. Once you start at that point, anything is possible with these cunts who “run”the “show”.
Click to expand...

Agree this hotel and car park sale must be fine with PSR or it wouldn't have been allowed so they found a loop hole!

I expect chelsea with there owners being pretty smart find a way to not fail PSR next season as well...
 
waspish said:
Agree this hotel and car park sale must be fine with PSR or it wouldn't have been allowed so they found a loop hole!

I expect chelsea with there owners being pretty smart find a way to not fail PSR next season as well...
Click to expand...
Also they probably got word from the American owners what they could and could not do last season and this season. The league will hide the announcement, they won’t be getting the 115 massacre we did but only because city turned into a winning machine with pep. They could take a gatecrasher every now and again but not a new gate keeper.

I have no problem with the chavs doing what they have to erm to get away with it.
 

wolviedinho said:
Also they probably got word from the American owners what they could and could not do last season and this season. The league will hide the announcement, they won’t be getting the 115 massacre we did but only because city turned into a winning machine with pep. They could take a gatecrasher every now and again but not a new gate keeper.

I have no problem with the chavs doing what they have to erm to get away with it.
Click to expand...

I’m with you it’s ridiculous but not necessarily wrong. I liken it to Barcelona selling future revenue to satisfy financial regulations now.

I also don’t see why Chelsea owners shouldn’t be the ones to buy it if it is a profitable business (hotel/ car park).

You do come back around to fair value etc. and also ensuring the revenue from this is not somehow added back into Chelsea’s accounts.

Then you have the elephant, how the hell does this help profit and sustainability as you have just got the owners to asset strip the company (where they would have been happy to invest).

We’re going to beat this and all that’s going to be left are the teams at the bottom breaching to try and move forward and ones in the middle hitting a glass ceiling.
 
Is there anything to stop Chelsea buying the hotel back for a quid and then selling it again the week after for 70m?

It would be very dodgy obviously but would there be anything in the rules that would actually stop it?
 
waspish said:
Agree this hotel and car park sale must be fine with PSR or it wouldn't have been allowed so they found a loop hole!

I expect chelsea with there owners being pretty smart find a way to not fail PSR next season as well...
Click to expand...
How do we know it’s allowed ? I thought these things happened then the premier league looked at them
 
117 M34 said:
Is there anything to stop Chelsea buying the hotel back for a quid and then selling it again the week after for 70m?

It would be very dodgy obviously but would there be anything in the rules that would actually stop it?
Click to expand...
Think it would run into issues, I can’t say for certain but there should be some market value rules with connected parties.

The more interesting question for me is what is stopping them buying it back through owner investment as development costs (which are not included in the PSR calculation.

So in theory could they buy it back for £70 million and as such then continue to be able to account for the revenue as income.

I don’t know for certain on any of this (mostly based on the fact these are ridiculous made up rules that are anti business so makes little to no sense). Be interested to know the view of the experts to see if I’m on the right track with my thinking.
 
Fuzzy80 said:
Think it would run into issues, I can’t say for certain but there should be some market value rules with connected parties.

The more interesting question for me is what is stopping them buying it back through owner investment as development costs (which are not included in the PSR calculation.

So in theory could they buy it back for £70 million and as such then continue to be able to account for the revenue as income.

I don’t know for certain on any of this (mostly based on the fact these are ridiculous made up rules that are anti business so makes little to no sense). Be interested to know the view of the experts to see if I’m on the right track with my thinking.
Click to expand...

I think profits on real estate sales aren't included in PSR profits / losses for the simple reason that infrastructure costs when they are built and depreciated aren't considered costs. So it doesn't matter who they sell too and for how much.

Edit: Apparently, I was wrong. The profits are excluded from EFL PSR, but it's allowed as profit under PL PSR. How fucking stupid is that? Add it to the list of "The PL doesn't know what it's doing!". So you can lose as much money as you want, as long as you strip the club of its assets to compensate. Sustainability my arse.

So I suppose the only issue is fair value (and this profit is the only reason they didn't fail PSR. Remarkable).
 
Last edited:
You must log in or register to reply here.
Unread Posts

Don't have an account? Register now and see fewer ads!

SIGN UP
Back
Top