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

Re: City & FFP (continued)

I think they are desperately scrambling around to try and make the rules fairer due to the legal challenge which i am sure they will eventually lose. A club is debt free but can't spend money and one that owes millions can spend almost as much as it wants due to them having been at the top for years and selling more merchandise worldwide.

No matter what they do they know PSG and ourselves are going to eventually dominate football and they have to get us onside at some point.
 
Re: City & FFP (continued)

tolmie's hairdoo said:
Just the usual lip service, I see nothing in these latest comments to believe that something that will negatively impact the likes of United, Barca and Madrid would come to pass.

Perhaps caps can be introduced, however, that would bring spending in relation to the level of debt?

So clubs aren't allowed to spend more than 10 per cent of their overall debt within a 12-month period?

A bit like the hardbrake they applied to ourselves, United would only be allowed to spend £40m.

If they increase debt by a further 10 per cent to create a dodge, clubs would be banned for spending for six months.

It would also be a good way of keeping wages in check across the board.

We're on easy street either way.

But we have £0 debt. 10% of £0 is £0! You've fucked us Tolm!
 
Re: City & FFP (continued)

What else can the G14+ and UEFA do ?

They are unwilling or unable to invest like ADUG globally and they have a legal challenge to their ruling body in UEFA together with a failing cartel in the form of a ''Barrier to Entry''.

Depends whether ADUG and PSG are going to get anything out of mondays meeting I suppose.
Sheik M. was probably outraged by the unfair allegations against his personal investment group so it depends on how he wants his inevitable revenge.
He is in it for the long game so perhaps he prefers to keep his powder dry preferring to influence others similar to the likes of Nissan to back the change he is funding.
The Nissan deal alone should have been a signal to UEFA that the world outside of the blatant cartel had noticed the ruse.

Perhaps an olive branch will be agreed but frankly I hope UEFA and its voting members still think they can make things difficult for City.

Just an opinion.
 
Re: City & FFP (continued)

It will be as interesting to me to see how the relationship between the ECA and UEFA changes, as it will surely have to.

At present a club can only have a voice in terms of UEFA policy via membership of the ECA,membership of which is more or less limited to clubs who have played in UEFA competitions recently.

That is a cartel in the making.
 
Re: City & FFP (continued)

Chippy_boy said:
ColinLee said:
Chippy_boy said:
All very true, unfortunately.

Their finance costs are now running at around £26m/year (compared to £117m/year at its peak) and they are fundamentally a very profitable business.
Which is why debt was never part of the original FFP regulations (once the cartel had had a word), the rags for one (probably Madrid and Barca too) wouldn't have been able to spend as they have in the last 3 years.

Yep.

And as I said a few posts back, funny how it's being considered by UEFA now the scum have got theirs under control. David Gill's evil paw prints are all over this. Doubtless he's got other "pro United, anti-other club" adjustments up his sleeve.
Even if it didn't go quite right for them, they would just sell off another chunk of non-voting, non-interest bearing shares to gullible American investors on the NYSE. That would wipe out the debt and the Glazer family would still hold full control of the business.

Call me a cynic if you like...
 
Re: City & FFP (continued)

Financially & commercially they may be sound but on the pitch there're shit. So this is where 4 other clubs can fuck it all up for them. Just need a 4th club to join ourselves, rentboys & tarquins in the top 4 for the next few seasons.
 
Re: City & FFP (continued)

This whole episode is yet another example of how inadequate football's institutions, both formal and informal, are for the needs of the second decade of the third millennium and how incapable Michel Platini is of providing the leadership football so badly needs.

UEFA is not a governing body at all, but a conspirator among others. It has made no attempt to launch a process of discussion to analyse what the problems facing football are and what are the ways of dealing with them effectively. What has it done to deal with hooliganism? Racism? Finance? In the first two it has grumbled from the touch line, then hindered and hampered the efforts of clubs trying seriously to deal with them, then finally begrudgingl taken completely ineffective action to "stamp it out". Action on racism is so ineffective we have black players calling for a boycott of the world cup! A world cup which sees UEFA, as part of the "football family" cuddled up with one of the world's great homophobes into the bargain.
Then there's FFP where UEFA makes no pretence at impartiality. Without question, without a trace of doubt, it accepts that the authoritative voice of European football clubs is Karl-Heinz Rumenigge, in his latest regeneration as fuhrer of the G14. UEFA does with a glad heart what Karl-Heinz and those of the G14 who still count want without question. We'll clobber the investors not the debtors and tell everyone it's to "prevent another Leeds" and tell them this is for the good of football, and we'll promote representatives of these clubs to important posts in UEFA so there'll be no argument. Debt is good: investment is bad. Platini never asks himself whether the ECA actually represents 270-odd clubs, or whether it even tries!

This isn't all Platini's fault, but much of it is. He made a name for himself by organising the world cup of 1998, but in France all he did was destroy his reputation. The tournament was a great success, it made a profit (better than breaking even) and it did this by selling the French football watching public to corporate USA, all prominent features built into FFP ten years later! But FFP was even more cunning - it got the G14 off his back by giving them what they wanted, so he had no embarassing break away to explain. This time he sold out every other club and their fans to save his position, because everyone is now obliged to make a profit. His aim now, though, appears to be to revenge himself on those who threatened him in 2006, and who he had to appease with FFP - and he seems to think Sheikh Mansour and the Qataris might be his allies. Some mistake! Sheikh Mansour may just explain to him the difference between leadership and intrigue.

Just as he ruined the world cup of 1998 so he is ruining the champions' league. UEFA sees it as a cash cow, and sees the TV companies as essential allies which bring in the (corporate American?) sponsors. Platini needs the clubs to take it seriously and so the prize money increases. This has made every European league less and less competitive so that the same teams qualify year after year, and to satisfy the needs of national TV companies we now get those same teams in the same groups. Brilliant. The seeding - again for "political" reasons - is the ultimate Platiniism, that confirms his "reign" as a unique blend of Macchiavelli and Lewis Carroll
 
Re: City & FFP (continued)

Slightly off topic.

Can anyone explain what Business Tax Credits are?

The type of Tax Credits the Glazers have been using to make an operating loss, into an profit for United, over the last few years.(2/3?)

Before the tax credit the team had a little-changed loss of 6.1 million pounds for the first quarter. The team said the credit is related to a corporate restructuring

Manchester United said its 2013 net income was distorted by a one-off tax credit of £155.2m, which it received from “US deferred tax assets". Had it not received that, the club would have made a loss of £8.8m in 2013.

Why don't, or why haven't City used Business Tax Credits? Or do they?

Thanks.
 

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