PL charge City for alleged breaches of financial rules

Prestwich_Blue said:
This is entirely the point. What Chelsea have been doing is like pawning the family silver to maintain their lifestyle. It's the complete antithesis of 'sustainability'.

Their 2024 accounts (for Chelsea FC Holdings, not the football club) have only just been filed (at the last possible moment) so aren't yet visible publicly, but looking at their 2023 accounts showed they generated £173.5m from their operations at holding company level.

They then spent a net £545m on players (that's just cash paid and received), which was financed by net borrowing of £425.5m. That's like taking out a mortgage to buy a new car, or pay for a holiday. These borrowings appear to have come from another company and the holding company has lent over £1.2bn to its subsidiary companies (interest free apparently). That is worth about £100m a year to them, applying a reasonable rate of notional interest.

No financial framework worth its salt should be allowing the shifting of assets around to disguise excessive spending that genuinely threatens the future existence of the club. FFP isn't great, but it doesn't allow this. PSR is a complete joke.
Click to expand...
I keep reading that chelsea have used a loophole to escape sanction but surely they have operated within, albeit poorly drafted, the regulations
 
thomas1307 said:
is there any way i can block ever seeing football 365 article again the sheer amount of articles just off the punishment for city is ridiculous
Click to expand...
Those click bait articles keeps the likes of that fat bastard rent-a-quote Keith Wyness in pies irrespective if there is any truth in any of those risible pieces of "journalism". Otherwise the poor bastard would be skint and wouldn't have a pot to piss in
 
thomas1307 said:
is there any way i can block ever seeing football 365 article again the sheer amount of articles just off the punishment for city is ridiculous
Click to expand...
letmegooglethat.com

How To Block Accounts On X

For those who think it's easier to annoy you than to Google 'How to block accounts on x' themselves.
letmegooglethat.com letmegooglethat.com
 
Gorton_Tubster said:
Remind me again (In the context of Chelsea financial shenanigans) of what City are actually accused of? Paying Mancini a few extra thousands of pounds in 2012? Illegal purchase of Yaya Toure? Over-paying sponsors by a couple of million(All multiplied by x years = 115) I mean its so fkin stark when compared to what Chelsea are doing.

Its a virtual drop in the ocean in comparison to what other clubs are actually being left to get away with.
Click to expand...
Exactly, but we are direct rivals to the Rossa Cartel cloobs and therefore the bogeyman that must be stopped at all costs
 
bobbyowenquiff said:
The drafting and re-drafting of the Judges's statement takes all the time. It will be as long as a book but much more complicated to edit. Every sentence will be poured over. This is a high stakes situation. Whoever "loses" this case could face commercial and personal reputational disaster. The Judges' cant afford to get even the smallest bit of their statement wrong. If they did it would destroy their own personal reputations. And then there is the tricky situation of how both parties communicate to the public what has happened after the result. The PR battle is almost as important as the legal decison.
Click to expand...
Why is this final drafting so difficult?
Surely they are not now trying to justify their decisions. I can understand all the legal stuff before a decision is made which can be written up by others whilst fresh in their minds.
 
SilverFox2 said:
Why is this final drafting so difficult?
Surely they are not now trying to justify their decisions. I can understand all the legal stuff before a decision is made which can be written up by others whilst fresh in their minds.
Click to expand...

To understand why this might be, I suggest you read the relatively recent High Court judgment in the ENRC/Dechert/SFO dispute. That dispute contained some similarly serious allegations, although in many ways it was arguably less complex. It took a long time to produce.

 
Metalartin said:
The number of football fans who think the Chelsea investigation is over and it's been settled with a financial fine(wasn't that merely a rumour because of what happened with UEFA?), tells you how differently their scandal has been handled by the sports media. That includes most Chelsea fans, who give Stefan absolute pelters in the talksport comments, every time he is on. Most of them believe that issue has been dealt with and have proceeded to put their feet up.

I'm not really fuming at Chelsea or at the PL being slow(nothing new), especially since we don't know the full extent of what has been discovered and what the PL will do about it. It's the absolute frauds who've been putting City through the cosh every chance they get since 2018. They've put the fanbase through the ringer and even took shots at them on occasion. We shouldn't ever forget their part in it.

They don't seem to care at all about the things they claimed were the utmost importance when it was City in their crosshairs. No pressure on the PL to give updates on the investigation. The rumour that it was going to result in a settlement wasn't met with the uproar/end of football hyperbole we know it would be met with if it was City in their shoes. No weekly/monthly discussions on what punishment Chelsea should get. The frauds don't give a shit.

Clear and obvious.
Click to expand...
The simple reason is they haven't stopped the cartel winning trophies
 
Braggster said:
To understand why this might be, I suggest you read the relatively recent High Court judgment in the ENRC/Dechert/SFO dispute. That dispute contained some similarly serious allegations, although in many ways it was arguably less complex. It took a long time to produce.

Click to expand...
Thanks my friend.
I note that all the headings etc end up with something called "final conclusions" .
I presume this means a verdict?
If so it follows a pattern of doing all the legal stuff then reaching a conclusion based presumably on all the stuff on previous pages.

Does the PL v City case follow this example?
 
Éireannach Gorm said:

Nobody even cares about us…
Click to expand...

haha

City is massive. Even our neighbours in Trafford are trying to hitch on to the most successful manc team.

I would take this as a win.

The mighty Red Sox are irrelevant.

We need to be marketing the hell out of the 115/130 when cleared.

Properly rub everyone’s nose in it.
 
wolviedinho said:
haha

City is massive. Even our neighbours in Trafford are trying to hitch on to the most successful manc team.

I would take this as a win.

The mighty Red Sox are irrelevant.

We need to be marketing the hell out of the 115/130 when cleared.

Properly rub everyone’s nose in it.
Click to expand...
£115 for a family stand ticket through Viagogo?
 
Braggster said:
To understand why this might be, I suggest you read the relatively recent High Court judgment in the ENRC/Dechert/SFO dispute. That dispute contained some similarly serious allegations, although in many ways it was arguably less complex. It took a long time to produce.

Click to expand...
Note how long they gave the parties to check for typos (although someone did tell me today that City's expectation is that they would receive the decision the same day as release). 1 whole month!
 
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