City & FFP | 2020/21 Accounts released | Revenues of £569.8m, £2.4m profit (p 2395)

[SilverFox2]

Re: City & FFP (continued)

City's website reports this under the "What the papers say" section.
It's from the daily mirror.
Enough said.

Thanks for reassurance, I always get a little neurotic on wet Thursday afternoons.

 

[Prestwich_Blue]

Re: City & FFP (continued)

The crazy thing about FFP is this. Take a club, which has €200m turnover and spends €10m a year on allowable expenses.

This club has no debt and makes €25m a year profit. The owner puts nothing in as it's self-sufficient. Clearly they're a well run club and will be fine for FFP. Then they get taken over by new owners who take on €500m debt at 8% which is secured on the assets of the club, pay out €40m a year in interest and make a €15m a year loss. That loss would have been much higher but they sold off the top 3 or 4 players at the club for a decent profit. The owner still puts no money in. Despite being in huge debt that risks the club's future, they're OK for FFP.

Then another new owner comes in, pays off the debt but has to replace the good players sold by the previous owners so the club make a loss of €16m. It's OK as this loss is caused by high player amortisation and they generate a positive cash flow so the owner doesn't need to put money in. Yet they fail FFP.

 

[HolisticJim]

Re: City & FFP (continued)

Not sure if this is a Conspiracy Theory or Reality.

City have agreed to a slightly watered down FFP Penalty which restricts our wages bill, player purchase options and CL numbers.
The FFP regs were introduced (according to Mr Platini) at the request of established senior Clubs in Europe.

We learn that PSG want Yaya then on today's City website we are apparently bracing ourselves for approaches for 3 of our players from other senior European Clubs.

Is there some sort of concerted effort being made by as many senior Clubs as possible to disrupt our Team when we will be disadvantaged by penalties or is this the price of success ?

Sorry, slightly off thread topic but hopefully still relevant.

City's website reports this under the "What the papers say" section.
It's from the daily mirror.
Enough said.

Still an interesting question though...and a fair assumption.

 

[M18CTID]

Re: City & FFP (continued)

Bullshitting Rag laughably taking the moral high ground over on the Caf when talking about our owner - as if anyone believes that this lying **** is a member of Amnesty International. I bet the sanctimonious prick fills his car with fuel that originated in Abu Dhabi and has no issue watching the F1 when it's broadcasting live from the Yas Marina circuit:

Barca84 said:

I'm a member of Amnesty International and also have a problem with Guantanamo Bay as well as your owners and all humans rights violators. This discussion is about City as uncomfotable as that may be for you.

Manchester Dan said: ↑

You're restricting a view to countries though with definitive boundaries, but that's not the way the world works. Every individual takes advantage of shocking human rights conditions around the world, be that through the items you buy, the holidays you enjoy, or even the place you work - I work for the very company that you just mentioned for selling Typhoon jets all over the world, which includes contracts with Saudi Arabia and discussions with UAE - does that make me a supporter of the regimes that are in place in all of these different parts of the world?

Barca84 said:

You need to take a look at a map. Then you need to take a look at what you buy, where you go on holiday and who you work for. I work for an organisation thats committed to a focus on human rights and social justice. Thats a choice I made and am not part of the arms manufacturing industry.

Assuage your guilt whichever way you can blues.

And the money shot from Manchester Dan - nails the twat good and proper lol:

If you're going to stop buying things that are a byproduct of poor human rights then your house is going to be very empty, you're not going to have any clothes to wear, and your food bill is going to be through the roof - the very laptop or phone you are using to post on this forum is most likely the end product of workers in extremely poor conditions. You're trying to take the high ground on something that is impossible to avoid. Let me clarify that this isn't me defending poor human rights, it's a huge problem, but you're trying to apportion guilt on to City fans for supporting our club (which was here long before our current owners), when you yourself are a contributing factor to the problem, as are we all.

Let's move on from this, given it has absolutely no place in this thread - if you're concerned then you can make a Human Rights discussion in the general forum.

 

[Newman Noggs]

Re: City & FFP (continued)

Bullshitting Rag laughably taking the moral high ground over on the Caf when talking about our owner - as if anyone believes that this lying **** is a member of Amnesty International. I bet the sanctimonious prick fills his car with fuel that originated in Abu Dhabi and has no issue watching the F1 when it's broadcasting live from the Yas Marina circuit:

Barca84 said:

I'm a member of Amnesty International and also have a problem with Guantanamo Bay as well as your owners and all humans rights violators. This discussion is about City as uncomfotable as that may be for you.

Manchester Dan said: ↑

You're restricting a view to countries though with definitive boundaries, but that's not the way the world works. Every individual takes advantage of shocking human rights conditions around the world, be that through the items you buy, the holidays you enjoy, or even the place you work - I work for the very company that you just mentioned for selling Typhoon jets all over the world, which includes contracts with Saudi Arabia and discussions with UAE - does that make me a supporter of the regimes that are in place in all of these different parts of the world?

Barca84 said:

You need to take a look at a map. Then you need to take a look at what you buy, where you go on holiday and who you work for. I work for an organisation thats committed to a focus on human rights and social justice. Thats a choice I made and am not part of the arms manufacturing industry.

Assuage your guilt whichever way you can blues.

Assuage your self-righteous, glory-hunting, pompous, pontificating, narcissistic, holier-than-thou tendencies whichever way you can reds.

 

[taconinja]

Re: City & FFP (continued)

Is that fellow a Barcelona fan? If so, how does he feel about his own shirt sponsors?

 

[Blue Haze]

Re: City & FFP (continued)

How does he feel about his shirt manufacturer's sweat shops?

 

[Prestwich_Blue]

Re: City & FFP (continued)

How does he feel about his shirt manufacturer's sweat shops?

Or the Official Airline Partner Aeroflot?

 

[M18CTID]

Re: City & FFP (continued)

Is that fellow a Barcelona fan? If so, how does he feel about his own shirt sponsors?

He's a United fan - I'm guessing the Barca84 refers to them beating Barca on their way to the 1984 European Cup Winner's Cup semi-final. Regardless, Manchester Dan and Red Rover (to his credit) both put him straight by saying if one is going to go down the moral route of citing human rights abuses, etc, then you have to be whiter than white yourself because pretty much anything we own could've been manufactured in conditions that are deemed to have violated someone's human rights. It wouldn't surprise me if this particular clown was posting his sanctimonious shit while wearing a United shirt that was produced in a sweat-shop somewhere in SE Asia.

 

[Newman Noggs]

Re: City & FFP (continued)

Can one of the accountants on here answer me this please ? Presumably once we move into profit we have access to huge lump sums by way of loans should we need them. Putting it simplistically, if we make a profit of £30m a year we could borrow £300m at 10% p.a. because, we can service the loan and we would still break even. Effectively what United have done.

if so, then can an owner/investor pay off that loan on behalf of the club without that falling foul of ffpr ? If not, wouldn't that mean an investor buying a club would be saddled with existing debt incurred by the previous owner and having to pay it off from earnings ? I'm thinking united here.