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

[Shaggy]

Think this is going to get ugly

 

[GOSBTS]

I think most fans don't understand all these financial rules. Seems us Citizens are becoming experts lol.

Talking to a Brighton fan the other day I asked if he was worried about Brighton having to pay interest on the clubs loads ?
He replied no we won't have to pay an interest on them as they are loads from the owner !

Brighton fan here, just thought I'd provide a bit of perspective on our situation from our end in case anyone is interested.

The APT rules were only introduced in December 2021, so my understanding is that they would only apply from that point (do let me know if I'm wrong about that though). So, looking at the last three FFP accounting periods:

Period ending 23/24: accounts aren't published yet for last season, but we were in the Europa league. I believe that UEFA's rules already have a mechanism for applying FMV interest rates to shareholder loans, so assuming we complied with their (stricter) rules we shouldn't be at any risk for the premier league's

Period ending: 22/23: we made headline profits of over £90m over these three years, so even if you applied 10% interest rates to our shareholder loans for the 21/22 and 22/23 seasons we'd still have made a profit. Can't see any risks for this period

Period ending 21/22: Some risk for this period. We made headline losses of ~£96m over the 3 years, so if you apply a 10% interest rate for the 21/22 season it would bring the losses to ~136m, which is obviously over the £115m limit. However, a few points to consider are:

1) that headline £96m loss doesn't include allowable PSR deductions like youth/infrastructure/women's spending or covid losses. The relevant losses for the purposes of PSR are likely to be considerably lower

2) that 10% interest rate is likely to be a massive overestimate as most of our shareholder loans are from the low interest rate 0.5% base rate period. I've just applied a 10% rate to the full loans here as a worst case scenario

3) The APT rules were introduced in December 2021, so if they only apply from that point the interest applied to our loans in 21/22 will only need to account for slightly over half the year instead of the full year

So overall, I think there's a good chance we'll be fine for the period ending 21/22 as well.


Considering the potential rule change more generally, it's actually a change I welcome. As much as I trust our owner, I'm very uncomfortable with the idea of the club being in any significant debt due to our history. The club has actually wanted to start repaying Bloom for several years, but until 22/23 he'd always refused as there were more important things to spend money on and no cost to the club of leaving the loans there. If the rule changes alter that equation, we'll hopefully start to put a lot more focus on paying down his loans and become debt free in a much shorter time period.

 

[Cobwebcat]

Have I not said that I’m a Newcastle United fan?
We were already hated before our takeover.
It is both funny and infuriating watching fans of other clubs on the likes of Reddit all claim they had respect for our fans, and liked us before our takeover.
Absolutely fucking bullshit, we used to get called deluded, demanding etc, with Sky, and TalkSport etc all cherry picking the wallpapers coming out of social clubs a to put on their stations and re-enforce this view.
Actually it’s ironic that the other clubs fans who were wishing we did a Leeds when we got relegated, are now the ones defending these PSR rules with the defence that it would prevent us from doing a Leeds.

It’s about time your club grew a pair rather than hiding behind City.

Most of your fans base still think we are the enemy…STILL…and that True Geordie is one of them. I mean how thick can people be?

 

[Chris-NCL]

It’s about time your club grew a pair rather than hiding behind City.

Most of your fans base still think we are the enemy…STILL…and that True Geordie is one of them. I mean how thick can people be?

Most of our fans are right behind Man City and cheering you guys on.

You watch True Geordie?
No one watches him.

 

[Cobwebcat]

Most of our fans are right behind Man City and cheering you guys on.

You watch True Geordie?
No one watches him.

Well they need to speak up a bit. It’s taken them long enough and if you hadn’t been bought out all we would hear is 115 and how much bigger you are than City…which I still hear a lot from your fans…which is a stupid argument either way.

He has enough followers whether I watch him or not.

We warned you what would happen, and now it has, your owners need to be more proactive. If you just sit there they will roll right over you.

 

[Stoned Rose]

Does anyone know how this is related to the trials?
Does anyone know what are those proposed amendments that the club claims are "unlawful"?

Do some reading you scouse ****.

 

[Stoned Rose]

Have I not said that I’m a Newcastle United fan?
We were already hated before our takeover.
It is both funny and infuriating watching fans of other clubs on the likes of Reddit all claim they had respect for our fans, and liked us before our takeover.
Absolutely fucking bullshit, we used to get called deluded, demanding etc, with Sky, and TalkSport etc all cherry picking the wallpapers coming out of social clubs a to put on their stations and re-enforce this view.
Actually it’s ironic that the other clubs fans who were wishing we did a Leeds when we got relegated, are now the ones defending these PSR rules with the defence that it would prevent us from doing a Leeds.

Not sure anyone has ever been arsed about Newcastle, never mind hate them.

 

[Brightwell’s left peg]

I disagree. I happen to think that some of the "big" or "successful" (as you say) clubs exert great, great control over what the Premier League decides Fair Market Value is and how it should be changed. Some "successful" PL clubs do that to help themselves and ruin their rivals.

By less successful, I meant less successful than City…so basically all of them.

 

[nmc]

I lived in Newcastle for 34 years you have always been deluded

I lived in Newcastle in the mid 80’s. The ‘Toons’ support was pretty sparse at that time when Jack Charlton was at the helm.

 

[richardtheref]

I live in Durham and worked in Newcastle for 20 years. Most of Geordies I know want City relegated to none league

 

[South Stand Balti]

Does anyone know how this is related to the trials?
Does anyone know what are those proposed amendments that the club claims are "unlawful"?

I'm not sure what lawful or unlawful means anymore. That said, I do know that murdering 39 people is unlawful.

 

[Cobwebcat]

I live in Durham and worked in Newcastle for 20 years. Most of Geordies I know want City relegated to none league

Yep.They can’t, or don’t want to, connect the dots.

 

[toffee balls]

I live in Durham and worked in Newcastle for 20 years. Most of Geordies I know want City relegated to none league

Shallow

 

[Chappie]

Does anyone know how this is related to the trials?
Does anyone know what are those proposed amendments that the club claims are "unlawful"?

Shakespeare was a man of wit.
But Bluemoons Shakespeare talks a load of shit.
As he was walking past Saint Paul's a woman grabbed him by the balls
She said you look a man of pluck.
And all Bluemoon says get to fuck.

 

[KS55]

You might be surprised how much talking goes on up there! 8-16 hrs, no movies, and only so much you can eat!! ;-)

And George does the flying for you.

 

[KS55]

Name calling like this in correspondence usually means its prime purpose is PR -

• "rejects in the strongest possible terms the repeated and baseless assertions"
• "does not provide a credible basis to impugn..."
• "such threats are meritless, and advanced without any attempt to articulate a credible ground on which MCFC could seek to restrain the consultation process".
• “a tendentious and inaccurate interpretation” of the minutes of a call held with clubs last month.

Banned Roan couldn't resist quoting a few words of scouse hilarity from the dippers aged shill - comedy gold:

Rick Parry expressed concern at “a whole raft of competition law cases which are impacting on the way that we run the game"."To be looking over our shoulder all of the time with challenges from clubs if they don't like rules… the game will grind to a halt unless we find a solution for that” he told BBC Sport. "I have no problem with us having to be more professional. But it's the willingness of clubs at the drop of a hat to challenge the whole system.”"You have to question how long you can function effectively while that mentality exists, and we have to find a solution to that.”

Quite right Rick, don't want anybody noticing the cartel passing a shedload of bent rules to keep your redshirt employers in the gravy for the past decade do we?

Drop of a hat?.
City warned the PL of perceived illegality of the rules months in advance. As usual, they took no notice.

 

[KS55]

Ideally you don't want a situation like the one with Qatar Tourist Authority & PSG, where. the €200m per annum sponsorship is massively out of kilter with other deals.

The corrupt hand of Leterme.

 

[KS55]

15 percent share of the tv deal for Liverpool, Everton, Arsenal, Spurs and United. 10 percent share of the tv deal for the likes of City, Chelsea and Oldham back in 1992. That sounds fair.

When that deal came up for renewal, City amazingly voted in favour of it. Why?

 

[KS55]

I reckon Simon Cliff is trying to emulate Rodri's success, by going for this year's Balon D'Law.

He's definitely smashing it out of the park at the moment.

Guided by our KC’s no doubt.

 

[M18CTID]

It most likely was after UEFA fined us. Though I saw it as a warning that he nor City would accept any rules that were obviously set up to hamper the progress he and the owner had mapped out for City, from a near bankrupt club, to now one of the highest earners, debt free and profitable clubs in world football. The cartel chose to ignore the warning as they think they have the power to ruin any club. The gloves are now off and there can only be one winner, whoever that is, there will be no draw.

Maybe. However, we need to understand that Khaldoon/City don’t believe we’re above the law and can do what we want (unlike United fans!) so anything we challenge - like the APT rules - is in good faith. As such, I think the comment about spending tens of millions of pounds on lawyers would be specific to something UEFA did regarding the FFP rules that the club deemed to be unfair. @Prestwich_Blue wrote a cracking article about them changing things right near the end of the very first monitoring period. I think it was entitled “How UEFA moved the goalposts to shaft Manchester City”