UEFA FFP investigation - CAS decision to be announced Monday, 13th July 9.30am BST

[Blue Feather]

I would love to be a fly on the wall in the directors offices of clubs like Man Utd, Real Madrid and Barcelona. As they discuss with their respective bankers on how they can help them pay their wage bill With all their debt problems and next to no money coming in, in the next couple of weeks maybe even months. What I want to know is how are they going to service their debts. Alaso what will UEFA do about it. Afterall they (that is UEFA will one day have to charge them all with breaking FFP). They can only be getting bigger by the day, with wages having to be paid out to the players right throughout their respective clubs.

Nice but UEFA will make up another fictitious rule to protect them under something like CVP (Co-Vid Protection)

 

[WRicko]

I think she's absolutely right in her opinion.
Business continuity insurance is cheap to buy (when there isn't a pandemic) and any reasonable level of commercial management would have ensured they had it in place.
Not having it in place is a deliberate act, you set your insurances, you choose what you do insure for and what you don't. The rule of thumb is that you can choose to not insure against risks that you can handle yourself but you always insure against risks that you can't handle. In the same way that a lot of people don't insure push bikes or mobile phones but almost everybody insures their property - and those that choose to pocket the money instead of insuring their homes have nobody else to blame other than themselves if their roof blows off and they can't afford the repairs.
From the sound of things, a lot of clubs don't have adequate or appropriate insurances in place and that's their entirely their own deliberate doing. They chose to take bigger dividends by not insuring and then they expect others to bail them out and, in my opinion, they can go whistle.
If some if them go out of business then that'll be a self-enacted cull of the stupid and the more astutely managed / less greedy clubs will continue.
It's a meritocracy whereby those who merit survival do so and those that don't don't, because they don't deserve to.

Even the best insurance wont cover this look at whats happening with travel insurance and smaller business that are closing. They are not covered because its a pandemic or Force Majeure

 

[WRicko]

Demands are growing that Premier League clubs should allocate some of their broadcast revenues to smaller clubs to help them survive. Henry Winter has done two pages on it in today's Times. No one has pointed out yet that, even if clubs wanted to do this, they couldn't because they would breach FFP rules. The football authorities hate investment but love debt. If they want to help the smaller clubs perhaps they should just borrow a huge amount of money and give it to the smaller clubs creating a huge pot of debt. That would be fine under FFP. What a farce.

A fair few big clubs are now more profitable than in the past could afford to something right now and not breach FFP it might not be sufficient depending on the affects of the virus and it might be that they cannot afford to once the virus has affect them also but your statement seems somewhat simplistic and the answer to the question about affordability not knowable at this time

 

[nmc]

I would love to be a fly on the wall in the directors offices of clubs like Man Utd, Real Madrid and Barcelona. As they discuss with their respective bankers on how they can help them pay their wage bill With all their debt problems and next to no money coming in, in the next couple of weeks maybe even months. What I want to know is how are they going to service their debts. Alaso what will UEFA do about it. Afterall they (that is UEFA will one day have to charge them all with breaking FFP). They can only be getting bigger by the day, with wages having to be paid out to the players right throughout their respective clubs.

There’s a long history of Spanish banks being soft on Real Madrid and Barcelona - soft loans at favourable rates or zero interest. I honestly don’t think a Spanish banking institution would call in the debts of Real or Barca... they are National Institutions with too much influence - so no one will want to upset them.

 

[nmc]

Scudamore donating five million he received would be a good start, seeing as he collected plenty of money doing his job and when he left his job, rather than the five million requested for ‘services’ rendered.

Quickly followed up by the worlds highest paid union boss as I believe Taylor is, donating some cash.

Taylor’s annual remuneration is circa £2m.

 

[bluealf]

I think she's absolutely right in her opinion.
Business continuity insurance is cheap to buy (when there isn't a pandemic) and any reasonable level of commercial management would have ensured they had it in place.
Not having it in place is a deliberate act, you set your insurances, you choose what you do insure for and what you don't. The rule of thumb is that you can choose to not insure against risks that you can handle yourself but you always insure against risks that you can't handle. In the same way that a lot of people don't insure push bikes or mobile phones but almost everybody insures their property - and those that choose to pocket the money instead of insuring their homes have nobody else to blame other than themselves if their roof blows off and they can't afford the repairs.
From the sound of things, a lot of clubs don't have adequate or appropriate insurances in place and that's their entirely their own deliberate doing. They chose to take bigger dividends by not insuring and then they expect others to bail them out and, in my opinion, they can go whistle.
If some if them go out of business then that'll be a self-enacted cull of the stupid and the more astutely managed / less greedy clubs will continue.
It's a meritocracy whereby those who merit survival do so and those that don't don't, because they don't deserve to.

Good for you, don't come knocking when you want support for your main cause.

 

[blueyorkie]

I don't expect FFP to be applied strictly this season, and probably next. It'll be impossible to work out and unwind.
They might come up a with a fudge system, and I can see clubs taking advantage.

Sounds a possible outcome

 

[asahartford1]

Taylor’s annual remuneration is circa £2m.

No bonuses ?

 

[cleavers]

No bonuses ?

You have to actually "do" something to get bonuses.

 

[asahartford1]

You have to actually "do" something to get bonuses.

Yep Scudomore left