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

[Manchester_lalala]

These accusations are getting really tiresome. We will never go a season without having to put up with media getting a sniff of any wrong doing. That 16 million fine in the summer must of made the journalist think that christmas had came early.

 

[SPIDERBOY]

It's about time now'that city start banning these cunts from the stadium.

 

[Prestwich_Blue]

It's about time now'that city start banning these c**ts from the stadium.

And that would stop them writing shit how exactly?

 

[SPIDERBOY]

It's about time now'that city start banning these c**ts from the stadium.

And that would stop them writing shit how exactly?

No,it wouldn't mate,not one bit....I just think they should fuck them off.

 

[Marvin]

It's good that City are being scrutinised by the media ...... means we are getting under the skin of their target readers

 

[Centurions]

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.

When you say "missed" is it not more likely "deliberately ignored"?

 

[Centurions]

Not sure whether this is a genuine story or not.

We know that City's accounts will be scrutinised for 2013-14 as part of the settlement agreement that was made last Summer.

The fact about us moving staff to CFG has Nick Harris lifted from Swiss Rambles excellent blog about our latest financial statement <a class="postlink" href="http://swissramble.blogspot.se/search/label/Manchester%20City" onclick="window.open(this.href);return false;">http://swissramble.blogspot.se/search/l ... ter%20City</a> the cnut then contacted UEFA and asked if they were aware of this...

I think there is little chance UEFA wouldn't have been aware of it. Given the way they screwed us in the summer, I suspect we'll be running most things by them now to ensure they don't fuck us over again. Nick Harris likes to think this is a Watergate moment, when patently it's not.

Since we "failed" FFP they've been scrutinising our books every 6 months and since the CFG was formed at the start of last season(?), UEFA know everything about it.
They may still be trying to work out the ramifications of it all however.

Just another non story used to fill column inches and as click bait.

 

[Didsbury Dave]

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.

Correct mate. Simple, standard procedure.

For the layman, if one of our staff now spends half of his time working on stuff for NYCFC, then MCFC end up paying half his salary and NYCFC the other half. MCFC pay CFG (accounting wise) for his services, and so do NYCFC.

I repeat. There is nothing to see here. Sensationalist headline with nothing behind it.

 

[blueinsa]

Whilst im confident there is nothing to see here, you can understand concerns given UEFA's abilty to shift the goalposts as and when they want.

That said, if they tried that trick again im sure we wouldnt take another pinch like last year.

 

[Prestwich_Blue]

Here's what the accounts say:

Transactions during the year ended 31 May 2014 with City Football Marketing Limited, a fellow subsidiary of City Football Group Limited, consisted of the sale of intangible assets of £nil (2013: £11,566,000), provision of other services of £723,000 (2013: £nil) and recharges for costs incurred providing services for the benefit of the Company totalling £6,025,000 (2013: £750,000). A balance of £17,409,000 is included in debtors due within one year (2013: £14,428,000).

Transactions during the year ended 31 May 2014 with City Football Services Limited, a fellow subsidiary of City Football Group Limited, consisted of the sale of intangible assets of £nil (2013: £10,887,000), provision of other services of £34,000 (2013: £nil) and recharges for costs incurred providing services for the benefit of the Company totalling £4,106,000 (2013: £1,118,000). A balance of £17,213,000 is included in debtors due within one year (2013: £13,100,000).

So MCFC Ltd were recharged £10,125,000 for services provided by CFML & CMSL. And 'Other External Charges' increased by over £16m, which we must assume includes all of that recharge.