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

[Toranaga sama]

FFS, It's Mark Ogden now.
http://www.telegraph.co.uk/sport/fo...r-City-finances-under-scrutiny-from-Uefa.html

Manchester City's finances are facing renewed Uefa scrutiny after it emerged that the complex structure of its City Football Group parent company is being investigated.

The Premier League champions, who were fined £16million and forced to play with a reduced Champions League squad by Uefa last year for breaking Financial Fair Play regulations, have endured accusations of duplicity in recent days over the contractual situation of Frank Lampard, who will spend the rest of the season at the Etihad Stadium after initially appearing only to be on loan from New York City FC until the end of December.

After proclaiming Lampard’s arrival last August as a loan, the club has now confirmed that the 36-year-old actually signed a year-long City contract, despite fans in New York and Manchester being led to believe that the midfielder had signed for the newly-formed MLS franchise, which is also controlled by CFG.

While the Premier League and City claim that no rules were broken in relation to Lampard, Uefa’s probe into the finances of CFG could lead to further FFP-related sanctions if evidence can be found to prove that the formation of subsidiary companies allowed the club to under-report losses in their 2013-14 accounts.

Two subsidiary companies – City Football Marketing Ltd and City Football Services Ltd – incurred costs, including wages, of £36.7million in the year to the end of May 2014, posting combined losses of £25.9million in that period.

A City spokesperson said: "The examination of the Club's structure and subsidiary companies is a scheduled and routine part of the UEFA monitoring process."

City, who believe themselves to be on course to meet Uefa’s FFP target this financial year having halved losses to £23million, increased their transfer spending on Sunday by agreeing a deal worth up to £28million for Swansea forward Wilfried Bony.

The arrival of Bony takes City’s spending during the winter and summer windows to £83million, with the full fee for Porto defender Eliaquim Mangala now being confirmed as £42million, rather than the £32m reported by the club at the time of his arrival.

I would be amazed if someone at the Club sanctioned us to spend £42M on one player.

This deal is kinda weird i would say. Our club said its £32M but Doyen said it's £42M.

 

[waspish]

City & FFP (continued)

What gets me is those teams who break even don't get there books looked at! What to say there ain't dodgy stuff in there accounts like chelsea who for the 1st time broke even when if they didn't there books would of been looked at! Dodgy and corrupt as fuck..

 

[cleavers]

42m for Mangala? Who confirmed it?

Mark Ogden, therefore it must be true.

 

[moomba]

Its all come from that Nick Harris. He's taken our £38.8m spending from the accounts and worked out his maths to presume the excess is Mangala. He claims the club will confirm that if called.

It's another story he was going on about a month ago, but is now seeing the light of day because of the Lampard mess.

 

[Victoria-bahs]

so your the CEO of the MCFC accountants....some shit newspaper Company call one of your clients liars and by de facto call your Company corrupt what would you do ?

This company try to hide behind freedom of speech.. but their lies are hurting your Company.

Every time they mention your name or your clients name with the said lies what is that Worth in Money loss to your Company ?

What sort of price / tarriff would you put on so such a Company so they stopped questioning your credientials..

Would you take this personal and claim against both the Company & the author who published such lies.


I know i would do via the Courts all Three tille they screamed, then twist it to the hilt .

 

[Newman Noggs]

42m for Mangala? Who confirmed it?

Mark Ogden, therefore it must be true.

I'm beginning to think Ogden is dangerously obsessed with us. Another title win or a set of accounts that shows a profit will surely be enough to send him over the edge. If he starts hanging around our New York hotel on the pre-season tour, I want the police called in.

 

[gordondaviesmoustache]

I wonder if City's prevailing reticence to take affirmative action against the scumbag media would be replicated by its auditors, whose integrity has also been implicitly impugned by that article.

 

[bluwes]

Wasn't the £42 million the figure we were quoted last January when we tried to buy both Fernando and Mangala together from Porto. There was talk that because of 3rd party ownership with Mangala we would pay £12 million for Fernando seperatley

 

[Dribble]

Wasn't the £42 million the figure we were quoted last January when we tried to buy both Fernando and Mangala together from Porto. There was talk that because of 3rd party ownership with Mangala we would pay £12 million for Fernando seperatley

That's how I understood it......

 

[I'm no cynic but...]

I always believed that FFP should have been challenged in the courts rather than City to "take a pinch". Although the moral ground might have been captured by the action that the club took, all that has happened is for our critics in the media, other clubs and the ignorant majority of supporters of other clubs who use forums such as the Daily Fail to continue to slag our club off. By taking the FFP issue to court, at least we could have cleared the air and just got on with the job unmolested.