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

[Stoned Rose]

They can bring in what they fucking want.

Our owners will put them in their pockets like they've done with FFP1.

 

[Prestwich_Blue]

That would have to be reported in our accounts as a related party transaction would it not?

Just had a look, the only transaction in our accounts between us and one of the other clubs is a small loan to NYCFC.

Interesting titbit this. In July last year we set up a new company, City Football UK Holdings Ltd, which is owned by CFG. I wonder if this is an attempt to ring-fence the UK part of the group from the other parts?

 

[Fat Chance]

Viewing figures not attendances was the question.

the figure of 654m viewers was banded around after the monday night (vinny boom) derby win.

 

[SilverFox2]

Interesting titbit this. In July last year we set up a new company, City Football UK Holdings Ltd, which is owned by CFG. I wonder if this is an attempt to ring-fence the UK part of the group from the other parts?

Hi PW, are Holding Companies the usual way to transfer losses to a member Company that makes profits ?
In other words is it just to ensure that profits are retained within the Group whilst expansion occurs rather than be taxed for the profit ?

Apologies if I misunderstand the motives.

 

[aguero93:20]

Hi PW, are Holding Companies the usual way to transfer losses to a member Company that makes profits ?
In other words is it just to ensure that profits are retained within the Group whilst expansion occurs rather than be taxed for the profit ?

Apologies if I misunderstand the motives.

You don't need a holding company to do it. It's easier to just cross-charge. A holding company is just the legal entity over several related companies. This new company just looks like we're separating Mcfc by a further degree from the other clubs.

 

[BlueAnorak]

I have thought for a while that the football services and football club elements of City Group's UK business would have to be assembled into one UK based reporting entity to comply with probable additional FFP regulations.

 

[Prestwich_Blue]

I have thought for a while that the football services and football club elements of City Group's UK business would have to be assembled into one UK based reporting entity to comply with probable additional FFP regulations.

FFP regulations already treat subsidiaries/associated companies as part of the reporting perimeter if they provide "football related services".

 

[SWP's back]

Not in premier league history we don’t

Spurs at Wembley have that this season.

Not if you actually bother to read his post.

 

[BlueAnorak]

FFP regulations already treat subsidiaries/associated companies as part of the reporting perimeter if they provide "football related services".

I know. But such a reorganisation makes it obvious to anyone - it also allows for other businesses to be attached to the same reporting entity. e.g. businesses operaring within 1.5m of our ground - including whatever attractiom is built behind the east stand.

 

[aguero93:20]

I know. But such a reorganisation makes it obvious to anyone - it also allows for other businesses to be attached to the same reporting entity. e.g. businesses operaring within 1.5m of our ground - including whatever attractiom is built behind the east stand.

All they have to do with any other business is stick our badge on it.