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

[jaiguruKun]

I can't see the club taking any further sanctions lying down again. So if Platini, Gill and their cohorts want to try it on, I don't see it as a bad thing as it will bring us closer to the tipping point when the "Rules" will be exposed for what they really are.

 

[Essex blue]

To be honest the losses of the CFG group shouldnt impact on us for FFP.

If uefa decide we are liable for the losses then we are also likely to benefit from any future profits so no worries there.

My big concern is fallout over lampard and third party ownership. This could really cost us our place in the champs league if we are deemed to have done a West Ham (to a lesser degree)

 

[Chippy_boy]

I am not an accountant, and freely admit to knowing next to nothing about the ins and outs of football finance.

I have full and complete confidence that the club will not fall foul of any underhanded accounting practices. A) because it would be a cluster fuck of truly monumental proportions to be "found out" and then failing ffp for the second year running. And B) because as others have mentioned our accounts are signed off by professional and long standing accountancy organisations.

That said, so were Tesco's accounts, and we all now know that they were not above board and are being investigated by the SFO.

If, and I stress the word "if" however, the club were to fail FFP again this year (highly highly doubtful I agree), then very serious questions would need to be asked of Sorriano and Bergiristain. Questions that would probably result in them leaving the club.

The above doesn't consider the possibility that we may fail because UEFA change the rules again, or the interpretation of them. Like how they stitched us up last time.

 

[Brendan110_0]

To be honest the losses of the CFG group shouldnt impact on us for FFP.

If uefa decide we are liable for the losses then we are also likely to benefit from any future profits so no worries there.

My big concern is fallout over lampard and third party ownership. This could really cost us our place in the champs league if we are deemed to have done a West Ham (to a lesser degree)

He's signed a pre contract for NYCFC August 15. Our player until then according to premier league. Nothing to see here, just papers digging for dirt as usual, we told a white lie to sell tickets at NYCFC that is all.

 

[jaiguruKun]

To be honest the losses of the CFG group shouldnt impact on us for FFP.

If uefa decide we are liable for the losses then we are also likely to benefit from any future profits so no worries there.

My big concern is fallout over lampard and third party ownership. This could really cost us our place in the champs league if we are deemed to have done a West Ham (to a lesser degree)

There is no issue over third party ownership as he was not contracted to NYCFC. He is 100 % an MCFC player.

 

[Chippy_boy]

To be honest the losses of the CFG group shouldnt impact on us for FFP.

If uefa decide we are liable for the losses then we are also likely to benefit from any future profits so no worries there.

My big concern is fallout over lampard and third party ownership. This could really cost us our place in the champs league if we are deemed to have done a West Ham (to a lesser degree)

He's signed a pre contract for NYCFC August 15. Our player until then according to premier league. Nothing to see here, just papers digging for dirt as usual, we told a white lie to sell tickets at NYCFC that is all.

Am I the only one who thinks that was (a) pretty shoddy practice and (b) legally questionable? Is it ridiculous in America, the most litigious of societies, to imagine a class action lawsuit from a group of disgruntled NYCFC season ticket holders who could reasonably claim we obtained their money by deception? It's all a bit shady if you ask me.

 

[Brendan110_0]

Just to add, we PASSED the last monitoring period. Non story, everyone knew the staff were put under the CFG payment system - even UEFA.

 

[Prestwich_Blue]

I assume that the perceived problem is that we put costs through CFS and CMS which were therefore kept off MCFC's books. But the point he seems to have missed is that those wages paid from the subsidiaries was cross charged to City. So in City's books wages went down but operating expenses went up by over £10m, which presumably is the cross-charge of those wages.

 

[City_Sean]

I assume that the perceived problem is that we put costs through CFS and CMS which were therefore kept off MCFC's books. But the point he seems to have missed is that those wages paid from the subsidiaries was cross charged to City. So in City's books wages went down but operating expenses went up by over £10m, which presumably is the cross-charge of those wages.

PB, regarding FFP, how much can we realistically spend this summer?

 

[Prestwich_Blue]

I assume that the perceived problem is that we put costs through CFS and CMS which were therefore kept off MCFC's books. But the point he seems to have missed is that those wages paid from the subsidiaries was cross charged to City. So in City's books wages went down but operating expenses went up by over £10m, which presumably is the cross-charge of those wages.

PB, regarding FFP, how much can we realistically spend this summer?

That's one of those "How long is a piece of string?" questions. Depends on revenue, who we sell, how much wages and amortisation we can free up, etc.