PL charge City for alleged breaches of financial rules

KS55 said:
He alleges that City hide losses in other companies, presumably CFG.
Forbes alleged the same thing a few years ago but their article was taken down within the hour when they learned that CFG made losses in the US from businesses that Forbes missed in reading their accounts. CFG took over a loss making 5-a-side league for example.
Click to expand...

It's clearly CFG he's referencing. The initial reaction has to be that it's bullshit.

CFG owns clubs in multiple countries along with a number of other allied businesses. Very few of them make a profit.

City do. We're the most successful club in the most popular domestic sporting competition on the planet. Whoever would have thought we might be able to run at a surplus?

Obviously we must be relying on the clandestine concealment of losses in Mumbai City and Palermo. How else could we stay in the black?

(Sarcasm, in case anyone's in any doubt.)
 
Apparently Tebas said the complaint had been made under the foreign subsidies regulation. That covers foreign goverments giving money to companies in the EU and distorting the market.
How does that equate to hiding losses?

competition-policy.ec.europa.eu

About

The Foreign Subsidies Regulation in a nutshell
competition-policy.ec.europa.eu competition-policy.ec.europa.eu
 
Yawn. This complaint was filed in 2023 so why are we just hearing about it now? La Liga via Tebas filed a complaint to UEFA in 2022, what his problem. Suggest he looks closer to home about the financing of certain Spanish clubs.
 
KS55 said:
He alleges that City hide losses in other companies, presumably CFG.
Forbes alleged the same thing a few years ago but their article was taken down within the hour when they learned that CFG made losses in the US from businesses that Forbes missed in reading their accounts. CFG took over a loss making 5-a-side league for example.
Click to expand...

Here is a Forbes article that is still up.
I've only skimmed it but needs one of the accounting experts for explainer. Presumably all legal - it's what big companies do?

www.forbes.com

Has Manchester City Offloaded $100M Of Expenses To New York City FC And Melbourne City FC?

In November, Man City announced a 3rd straight year of profit. However, Manchester City is one part of the City Football Group and the financial statements for the latter have just been released. The report begs the question - is City's profit down to offloading expenses to the likes of NYCFC?
www.forbes.com www.forbes.com
 
waspish said:
Doesn't it say it's an on going case against us since 2023 though?
Click to expand...
Tebas is the one who said it’s ongoing because he hasn’t heard from the EU Commission since the complaint went in in 2023.

That’s probably because they stuck the complaint in the fucking shredder…..after spending all day pissing their sides about it!
 
M18CTID said:
Tebas is the one who said it’s ongoing because he hasn’t heard from the EU Commission since the complaint went in in 2023.

That’s probably because they stuck the complaint in the fucking shredder…..after spending all day pissing their sides about it!
Click to expand...
That case probably got dismissed by the EU commission
He just jealous we won the champions league
 
Pablo ZZZ Peroni said:
Here is a Forbes article that is still up.
I've only skimmed it but needs one of the accounting experts for explainer. Presumably all legal - it's what big companies do?

www.forbes.com

Has Manchester City Offloaded $100M Of Expenses To New York City FC And Melbourne City FC?

In November, Man City announced a 3rd straight year of profit. However, Manchester City is one part of the City Football Group and the financial statements for the latter have just been released. The report begs the question - is City's profit down to offloading expenses to the likes of NYCFC?
www.forbes.com www.forbes.com
Click to expand...

It's perfectly legal and accounted for as it should be.

Considering we are the more established club you would expect overheads and losses to be higher on more recent acquisitions that haven't delivered the same results or return yet.

Tebas is just a ****. And the media would usually just ignore such unfounded nonsense but as it relates to us they love it.
 
KS55 said:
He alleges that City hide losses in other companies, presumably CFG.
Forbes alleged the same thing a few years ago but their article was taken down within the hour when they learned that CFG made losses in the US from businesses that Forbes missed in reading their accounts. CFG took over a loss making 5-a-side league for example.
Click to expand...
I'm a little out of date with the reasons to form Holding Companies but in my day say 15 to 20 years ago it had a tax benefit to allow profit in one company to be offset in losses in another.
All perfectly legal of course to allow a Holding Company to continue starting and funding new companies at different stages of business plan development.
Perhaps Mr T does not understand taxation.
 
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