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

[give it to gordon]

They could still have passed UEFA’s FFP even with notional interest on loans deducted. Presumably they did. If the loans were declared

So two sets of books ! One for the pl and one for UEFA

 

[slbsn]

City say the rules are null and void. Why are they not?

s.2(4) of the Competition Act - the decision to bring in the rules was unlawful, therefore prohibited, therefore void.

Yes, City say that is their position. But the PL's position is clearly the opposite. My view is either the Tribunal will find a way to get to say everything pre 2024 are binding or the teams will easily pass a regime equivalent to the original APT at the first opportunity.

 

[slbsn]

The original APT rules have gone. They're unlawful too.

That is not decided. The Tribunal has not opined or gone that far.

 

[slbsn]

I assume the interest payments on directors loans (circa 10 per cent) will be applied to PSR calculations going forward and not retrospectively ?

5-10 per cent I assume, yes.

 

[waspish]

No 2 separate points. 2024 amendments, will go. Shareholder loans going forward will be FMVed for market interest rates.

Will that be for loans now clubs have or they going to put in the rules that only loans from say November 1st are FMVed?

 

[slbsn]

Will that be for loans now clubs have or they going to put in the rules that only loans from say November 1st are FMVed?

Nobody knows - I suspect for the 25/26 calculation is most likely by way of some transitional allowance

 

[freshie]

No fan of Panja but that's a bit of a cheap shot bearing in mind @slbsn himself was saying the judgment was a score draw or a slight City win until recently.

Have to own up when you get something wrong. I do it all the time :)

You've completely missed the point - well done

 

[Bobby Taylor's Pub Team]

No fan of Panja but that's a bit of a cheap shot bearing in mind @slbsn himself was saying the judgment was a score draw or a slight City win until recently.

Have to own up when you get something wrong. I do it all the time :)

cheap shot : an act of deliberate roughness against a defenseless opponent

I had to double take there, you serious?

 

[The Stockport Iniesta]

Nobody knows - I suspect for the 25/26 calculation is most likely by way of some transitional allowance

Any idea on the timeliness about when we are going to hear about costs awarded? And about City's claim for compensation?

 

[Stoned Rose]

Don’t leave out @gordondaviesmoustache, he will be upset.

You disrespectful motherfuckers.

 

[Vic]

That is not decided. The Tribunal has not opined or gone that far.

The Tribunal declares
(i) that the APT Rules are unlawful on account of being in breach of sections 2 and 18 of the Competition Act 1998 because they exclude from their scope shareholder loans and for no other reason

What more is needed?

 

[Prestwich_Blue]

Source?

It was in the document.

 

[slbsn]

The Tribunal declares
(i) that the APT Rules are unlawful on account of being in breach of sections 2 and 18 of the Competition Act 1998 because they exclude from their scope shareholder loans and for no other reason

What more is needed?

For them to be deemed null and void as well as unlawful. I’m no Competition law expert but it seems from what I’ve read to be unclear what the answer is. In those circumstances, I think the Tribunal would find a way to limit the damage to the original APT rules. As I have said even if they are null and void, the replacement regime will be implemented in line with 2021 APT. But of course, I may be completely wrong and APT may never return. Just giving a view.

 

[Prestwich_Blue]

Like CAS.

Not quite. At CAS the two parties had to agree on the chair. For the PL tribunal it was the two panel members who picked the chair. I don't believe City or the PL had any say in it.

 

[KS55]

It was in the document.

Cheers. I was unaware.

 

[Colnago]

5-10 per cent I assume, yes.

@slbsn could I ask what is the advantage of having shareholders loans. rather than equity, in the context of Arsenal, Brighton etc.? Is it just that equity level is subject to fluctuation (share price) and also it is easier to extract your cash if need be (ie for other business purposes)...or are there other more nuanced advantages, such as different tax implications?

 

[Phil1]

Panja should be getting zilch respect on this forum after spending many years writing biased and dishonest articles about our club at the behest of others who don’t have our best interests at heart.
He has used every opportunity to paint us in the worst possible light and has been a fucking snide **** whilst doing it.
He’s one of a handful who have been paid shills.
He gets nothing but contempt from me the disingenuous parasite.

 

[Champions again in 2012]

Odd take. A journalist who is claiming to be objective (to the extent Panja is) should not try to mislead his audience by pushing a narrative as one thing when it is, in my view, misleading, preliminary and incomplete. He did that by pushing first a questionable summary re the databank (I stand by that he has good sources as does Delaney etc) and then exaggerating Leaf's summary. When I then pointed this out, he made a false allegation that I was punching down on a lawyer. It is not punching down to suggest to Panja that when his chosen lawyer on the subject, says something very different from his initial take, that Panja has a responsibility to broadcast that update to his audience as an objective journalist. You may disagree but it is hardly punching down. I am engaging with him on his journalism and objectivity not his legal understanding.

Victimising bloody journalists. You cannot make it up

 

[gordondaviesmoustache]

Panja should be getting zilch respect on this forum after spending many years writing biased and dishonest articles about our club at the behest of others who don’t have our best interests at heart.
He has used every opportunity to paint us in the worst possible light and has been a fucking snide **** whilst doing it.
He’s one of a handful who have been paid shills.
He gets nothing but contempt from me the disingenuous parasite.

Well said that man!

 

[Prestwich_Blue]

For them to be deemed null and void as well as unlawful. I’m no Competition law expert but it seems from what I’ve read to be unclear what the answer is. In those circumstances, I think the Tribunal would find a way to limit the damage to the original APT rules. As I have said even if they are null and void, the replacement regime will be implemented in line with 2021 APT. But of course, I may be completely wrong and APT may never return. Just giving a view.

My view is increasingly coming round to the conclusion that the 3 members of the tribunal were founding members of the Stanley Unwin Appreciation Society and are sat there pissing themselves laughing at the chaos and confusion they've caused.

But like you, I could be completely wrong.