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

[Marvin]

US Crude down to $49

 

[gordondaviesmoustache]

Are you Simon Brodkin in disguise?

He's a bit much of an attention seeker for my liking.

 

[coleridge]

He's a bit much of an attention seeker for my liking.

I know. Jealousy is a terrible thing.

 

[gordondaviesmoustache]

I know. Jealousy is a terrible thing.

I'm envious of people who don't get jealous.

 

[SilverFox2]

Not really, that puts us in a much stronger position than European clubs.

Not really on topic but relevant to exchange rates I saw that MUFC accounts saw a jump of about £5m cost simply because of the £ > $ conversion rate changing.
Not an expert in this field but surely banks deal with negotiating a fixed rate that allows the borrower / lender risk to be out of the equation and allows the payback period to be known for that period.

 

[aguero93:20]

Not an expert in this field but surely banks deal with negotiating a fixed rate that allows the borrower / lender risk to be out of the equation

They specify the amount in one currency afaik and you get lucky or you don't.

 

[SilverFox2]

They specify the amount in one currency afaik and you get lucky or you don't.

Ok you may be right Ag but certainly when I was involved with a different sector of business we expected to receive dollars from USA over a prolonged period on a monthly basis.
The bank who dealt with our normal transactions agreed to give us a fixed rate for those transactions so that we could get on with manufacturing and they could take the risk (for a fee of course ) regarding forward receipt of dollars.
In other words stick to knitting and let those who deal with money take forward risks and get on with making a long term contract pay over a long period.

The alternative is that your whole contract can be undermined by fluctuations in exchange rates.

 

[Stephenhakin]

http://www.theguardian.com/football/2015/jul/22/eu-supreme-court-rejects-ffp-challenge-uefa

 

[Stephenhakin]

http://www.theguardian.com/football/2015/jul/22/eu-supreme-court-rejects-ffp-challenge-uefa

Can anyone with any legal knowledge explain what this means?

 

[aguero93:20]

Can anyone with any legal knowledge explain what this means?

Uefa are talking bollocks, the case hasn't been thrown out, it's yet to be heard. A preliminary judgement was rejected. That's equivalent to a murder trial being put back and the defendants lawyer celebrating his client's acquittal.