City launch legal action against the Premier League | Club & PL reach settlement | Proceedings dropped (p1147)

[Colin Bells Boots]

Yes, I’m sure there’s nothing dodgy about their deals with Chevrolet, TeamViewer and SnapDragon.

Every savvy investor will now be buying shares in SnapDragon as they are such a major supplier of common household items :)

 

[burning blue soul]

It's laughable that the PL are trying to claim victory.

Well, they can keep patting themselves on the back all the way up to writing us a 50m quid check for damages.

 

[bobbyowenquiff]

Just goes to show how little he and other rival fans understand.

He really is thick isn’t he?

 

[DeepBlueSea]

I’m an Ipswich fan, so I’ve got no particular horse in this race. But from that neutral perspective, it’s so damn good to see fans of the ‘big’ clubs trying desperately to have the moral high ground. They tried to fix the system, to make sure that no one else could *ever* legally match their financial firepower. That’s all they cared about. Being on top and STAYING on top in perpetuity. Feck everyone else. All this ridiculous moralising, pretending to care about principles of law, when it’s really about not letting anyone else join your elite club. It’s transparent, and I hope the cards continue to fall in City’s favour with this legal action.

 

[Wardley Blue]

“Unlawful “
Can of worms now opened

CTID

Perhaps the Premier League will now employ lawyers that know the law!

 

[Gone for a Burton]

MASS CANCELLATION OF BBC TV LICENCE....NOW.

It takes 5 minutes.

Let the know they've poked the blue bear.

DO IT NOW !!

Just listened to Roan writhing, twisting, shuffling like Chemical Ali.

CANCEL YOUR TV LICENCE NOW !!

 

[maurizio]

'We only won in "(2) specific areas" apparently, according to Dan Roan on the news just now. Have they not glanced at the judges summary? Unlawful rules ..

 

[Skrastins]

 

[Magicpole]

Does anyone have a list of the clubs with the dodgy 0% shareholder loans?

I know a team that have done and keep doing that. Can I grass them up to UEFA?

 

[Trevor Morley's Tache]

Looking forward to the PiGMOL turning the screw on us...

 

[Victorinodennistua]

The PL are embarrassed. They should be.

Do we win a trophy for this? If so I’ll need to book a day off.

 

[SebastianBlue]

Does anyone have a list of the clubs with the dodgy 0% shareholder loans?

From the Times article about the ruling:

As I said months ago, and immediately after the ruling was released, it is a real head scratcher why many clubs—especially Arsenal—where so intent on undermining our challenge both privately and publicly…

 

[Colin Bells Boots]

Not least because the PL is supposed to be non partisan and represent ALL its clubs not just a small cabal.

How fucking naive are you ? :)

 

[N1985]

They can knock it off the £120 million we're about to sue them for

 

[SebastianBlue]

Looking forward to the PiGMOL turning the screw on us...

I would actually welcome that as it would make it fairly easy to build a case for officiating corruption and collusion.

 

[Magicpole]

How fucking naive are you ?

He did say, supposed to. He knows it’s a crock, would be my bet.

 

[BlueMonkey79]

Can't wait for sunbed Charlie's comments on Talksport tomorrow.

 

[MCFC1993]

Just be turned into equity or some business jargon shite like that

Yeah I figured they would do that but puts them in the shitter in the long run. That's essentially how they've managed to compete.

 

[alib]

The BBC are predictably pathetic in their reporting of this…….best they stick to what they do best……protecting peadophiles

 

[TedofChume]

When did this whole owner interest free loans become apparent as something we were challenging? I dont remember ever hearing about this before but it feels like this as significant as anything im reading in all of this.

I know when FSG bought Liverpool, there were two debts to pay to Kop Holdings (a fabricated loan of Hicks and Gillette) and Nat West. I can't remeber which way round it was, they were both around £220 & £240m. FSG settled one as their purchase of the club, then settled the other by lending Liverpool the money at a discretionary rate of 0.5% a year. It seems FSG had taken mortgage out on Anfield (now a separate company to Liverpool FC) at a market rate to fund this. Bearing in mind at the same time Sullivan and co were lending West Ham money at a Fair market Value of 8%, it struck me that 7.5% of £220-240m was £16-17m a year saving, and that was owner investment. It allowed Liverpool to reduce the FSG loan and almost pay it off (down to £70m) before Klopp and Covid came along. I have always oncsiderd this to be "financial doping" by the back door. An extra £16m x 3 years on PSR would make a massive difference to whether they stay within £105m loss. I never understood how they could get away with it.

UPDATE:
I've done the rough calculations here now:

The seedy side of Liverpool’s Financial Manipulations – low interest loans - ManCityStuff

The full effect of interest free loans and how it distorts competition in England and Europe In my post Liverpool Financial Doping on 08 June 2023, I first referenced Liverpool's financial doping practices on this page, and today's ruling has made it clear that the exclusion of owners' loans and...

mancitystuff.co.uk