PL charge City for alleged breaches of financial rules

[Antwerp City]

All valid points.

I’d wager the person who comes in after Masters comments on inheriting a bloated workforce due to self inflicted regulations/ legal case work.

Going to be Musk, isn’t it?

 

[mexico1970]

The issue with banning a media representative is that they are entitled to be be at games as part of the media contract so unless the club can prove they have over stepped the mark then it becomes difficult However, we should offer them the absolute minimum to what they are entitled to according to the contract and nothing more

I reckon the club would have no problem proving that some of these writers have over stepped the mark, the publication they work for may still have access but banning an individual person should have presented no problem for the club.

They just didn't/don't do it.

 

[mike1923]

"If you overshoot your legal fees budget by £50 million, it’s either a failure to properly estimate the magnitude of the case you’re pursuing, or a case of shutting their eyes, covering their ears, and pretending that overspending simply doesn’t matter."

How do they explain to the board we have evidence of Khaldoon saying I’d rather spend £50m on legal fees……..so we budgeted £8m…..

Could you explain about the missing or unaccounted millions is there any idea what this could be? Unsubstantiated gossip is ok ;)

If only they had rules to regulate their spending!

Incompetent cunts

 

[SilverFox2]

It's almost as if the PL needs some rules on spending applying to them...

Perhaps a simple P and L problem where the PL had a surplus in their accounts of 50 million and asked for a missing invoice.
Man U kindly "produced" the Covid invoice that matched this amount which accidentally helped the PL rules as well.

It is alleged Chelsea offered a hotel as well but the PL had other plans for this generous offer.

Obviously when the legal overspend occured it causes problems. A junior accountant forgot to increase the budget.

 

[KS55]

We don’t have much info. In fairness, the 20
Shareholders are going to have some strong views if the spending was too high. I guess regulation has greatly increased, there are very many foreign broadcast partners, they are planning to bring quite a lot more in house on the media side etc. Nevertheless it does seem that it is perhaps become bloated

One wonders if they have the expertise to bring international media in house.
I’m not sure they gain anything this way.
IMG is a tried and trusted world wide operation.

 

[slbsn]

One wonders if they have the expertise to bring international media in house.
I’m not sure they gain anything this way.
IMG is a tried and trusted world wide operation.

For starters a big team will TUPE over so they will have most of the people on Day 1. The key question is why it is worth it. IMG currently do the nuts and bolts of producing matches. Filming, studio stuff, etc. They are market leaders. The question is even if the PL can do it slightly cheaper in house, so what? What value is there in owning that part of the value chain. It’s not as if they need it to make the programming even if they created Premflix. And it’s not as if they can take their programming expertise and sell to other leagues. So why bother?

Presumably, there is a model in one of the US leagues they want to follow.

 

[mcfcphil]

For starters a big team will TUPE over so they will have most of the people on Day 1. The key question is why it is worth it. IMG currently do the nuts and bolts of producing matches. Filming, studio stuff, etc. They are market leaders. The question is even if the PL can do it slightly cheaper in house, so what? What value is there in owning that part of the value chain. It’s not as if they need it to make the programming even if they created Premflix. And it’s not as if they can take their programming expertise and sell to other leagues. So why bother?

Presumably, there is a model in one of the US leagues they want to follow.

I think it reflects a general chaos in the organisation.

This is an established 30+ year business increasing headcount at the rate you would expect from a venture backed scale up.

This growth happened during covid and if you also consider a fair chunk of the existing employees will have moved on in that period, you’ve got an incredibly green workforce.

Increasing headcount to that level is really difficult even when it’s done in a controlled way via TUPE.

We know the PL is woefully inadequate when it comes to to policy and procedures so it further supports the view that the organisation is a complete mess and as a result is making extremely poor and naive strategic decisions (ie, going after City for 115 in the manner they did).

 

[halfcenturyup]

Personally my best guess is legal related spend but spend not specifically credited as legal spend. Just hard to see what else could be. But I’m told definitively I am wrong!

Was there a corresponding increase in accruals, in which case it's most likely provisions, or are accruals in line with last year in which case the extra expenses would have been paid before the year end?

I suppose I could look myself, but I am a lazy bastard .....

 

[halfcenturyup]

Obviously when the legal overspend occured it causes problems. A junior accountant forgot to increase the budget.

It's always the accountant's fault :(

 

[Gorton_Tubster]

Let's face it, the PL is run like legacy Utd are run. Old style approach to football and its politics. Expectations that the old ways will suffice in the modern world. No depth to their business model.

I personally think the PL is on its last legs unless they change for the future. Some other league is going to take over whilst we are tying ourselves up in knots.

 

[slbsn]

Was there a corresponding increase in accruals, in which case it's most likely provisions, or are accruals in line with last year in which case the extra expenses would have been paid before the year end?

I suppose I could look myself, but I am a lazy bastard .....

No - accruals in the PL accounts are predominantly what’s owed to clubs not operating expenses. No sign of material provisions either that I can see. Nor what was described in the explanation in the front end. Take a look - see if you can see what it could be

 

[cheekybids]

For starters a big team will TUPE over so they will have most of the people on Day 1. The key question is why it is worth it. IMG currently do the nuts and bolts of producing matches. Filming, studio stuff, etc. They are market leaders. The question is even if the PL can do it slightly cheaper in house, so what? What value is there in owning that part of the value chain. It’s not as if they need it to make the programming even if they created Premflix. And it’s not as if they can take their programming expertise and sell to other leagues. So why bother?

Presumably, there is a model in one of the US leagues they want to follow.

You’d think the value they want from bringing it in house could be solved in the TV contract negotiations.

I’ve worked for many CEOs from Engineering, Acounting or Sales & Marketing. I can hand on heart say it’s always the S&M CEOs who fuck it up, employ so many people that no one knows what the fuck they are doing.

 

[SilverFox2]

It's always the accountant's fault :(

That adds up.

Many years ago i was advised that in business, accountants calculate whether the years trading has been profitable or not so if you start thinking like an accountant you are more likely to make money.

The suspense account is always there waiting for the balancing invoice.

 

[blue b4 the moon]

I would let them in, get them up some stairs, and push them off the CB stand roof.

Makes financial sense to convert the press area into a Tunnel 2 club and shift the fuckers into SS1/SS3 with a voucher for food & drink and some tables on the concourse roped off for them so we could all wave.... A sort of 2025 feeding the Chimps type thing.

 

[TShed]

Did the Nation of Comedy react well to the “one charge and you fucked it up” yesterday

 

[Prophet of Doom]

Different yep, the media sucked up to him the rags were the positive story and the income generators for them so, they bowed down to them Look at the slime ball BBC, he refused to give them interviews and the club were fined each week as a result then when the retired they sucked up to him and did a nice documentary

It always made my toes curl that journalists that had endured decades of being bullied and humiliated by Ferguson would go all gooey when he said a kind word at their final press conference.

Not a back bone between any of the journos on the Utd beat for 20+ years.

A disgusting bully yet barely a bad word written about him.

 

[Prophet of Doom]

Perhaps a simple P and L problem where the PL had a surplus in their accounts of 50 million and asked for a missing invoice.
Man U kindly "produced" the Covid invoice that matched this amount which accidentally helped the PL rules as well.

It is alleged Chelsea offered a hotel as well but the PL had other plans for this generous offer.

Obviously when the legal overspend occured it causes problems. A junior accountant forgot to increase the budget.

You might be hearing a little bit more in the future about Utd and their fudged Covid figures.

 

[halfcenturyup]

No - accruals in the PL accounts are predominantly what’s owed to clubs not operating expenses. No sign of material provisions either that I can see. Nor what was described in the explanation in the front end. Take a look - see if you can see what it could be

I have to ask how definitive is your definitive answer that it isn't legal fees?

As you say, the directors report mentions three causes for the expense increase: new personnel, wider football support and legal fees. The first two come nowhere near explaining a 23% increase. It's hard to see past legal fees really ....

Maybe they are making fraudulent statements in the accounts? :)

 

[M12Blue]

Makes financial sense to convert the press area into a Tunnel 2 club and shift the fuckers into SS1/SS3 with a voucher for food & drink and some tables on the concourse roped off for them so we could all wave.... A sort of 2025 feeding the Chimps type thing.

Could we not get an old shipping container outside the stadium and fit it with a TV and kettle.

 

[SilverFox2]

You might be hearing a little bit more in the future about Utd and their fudged Covid figures.

To be clear I am not an accountant so it is possible my post may not be enrrirely accurate. However, their trading affairs are a bit like Man U where profits cover everything. that is until they don't.