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

[The Stockport Iniesta]

Re: City & FFP (continued)

Should we as City supporters be taking a more proactive role in all this? Emails to UEFA, letting them know how we feel. Hopefully (touch wood) there will be Thousands of blues in the City centre on Monday, as well as loads of media, an ideal opportunity for a protest of some sorts, maybe a banner could be sorted? Or am I getting a bit Scouse?

 

[Chippy_boy]

Re: City & FFP (continued)

I don't think that you see that I agree with you
In a sane world all of what you say is true, understood by all parties, and we sail through FFP into the night

However, the world that UEFA and the cartel operate within is not sane, and far from fair, and we end up with the largest fine, but to who does it go, in the history of world sport.

No, I do. I get that you are agreeing. I was just reiterating because it's so incredibly bizarrely daft. (I since edited that part out actually).

UEFA might be bent as a 9 bob note ("might be"... LOL) but PWC aren't.

I was under the impression that UEFA have adopted IAS 24 but without the supporting guidance that goes with it?

Well they have cut and pasted IAS 24 RPT definitions into the FFP Rule Book.

 

[George Hannah]

Re: City & FFP (continued)

C'mon City spoil their party!!

 

[Marvin]

Re: City & FFP (continued)

We had until Friday to reach a settlement. Now it's Monday. Doesn't this imply negotiations?

 

[MancAl]

Re: City & FFP (continued)

David Gill's involvement in this puts me in mind of General Melchett being the Judge in the trial of the Flanders Pigeon Murderer in Blackadder Goes Forth.

Well done!

 

[cibaman]

Re: City & FFP (continued)

No, I do. I get that you are agreeing. I was just reiterating because it's so incredibly bizarrely daft. (I since edited that part out actually).

UEFA might be bent as a 9 bob note ("might be"... LOL) but PWC aren't.

I was under the impression that UEFA have adopted IAS 24 but without the supporting guidance that goes with it?

Well they have cut and pasted IAS 24 RPT definitions into the FFP Rule Book.

Yes they have. But as far as I know they don't actually say that they are adopting IAS 24 as the basis for establishing whether a transaction is a RPT. And if you just take the basic standard without all of the technical guidance its fairly vague. For example. the bit about close relatives simply states "This may include..." Its not set in tablets of stone. There doesn't seem to be anything in the FFP rules that requires them to adopt all of the guidance that the auditors use.

It would be extremely misleading for them to adopt IAS24 but not everything that goes with it. I'm not sure that the CAS would support that. But that might be UEFA's and PWC's get out.

 

[George Hannah]

Re: City & FFP (continued)

I was under the impression that UEFA have adopted IAS 24 but without the supporting guidance that goes with it?

Well they have cut and pasted IAS 24 RPT definitions into the FFP Rule Book.

Yes they have. But as far as I know they don't actually say that they are adopting IAS 24 as the basis for establishing whether a transaction is a RPT. And if you just take the basic standard without all of the technical guidance its fairly vague. For example. the bit about close relatives simply states "This may include..." Its not set in tablets of stone. There doesn't seem to be anything in the FFP rules that requires them to adopt all of the guidance that the auditors use.

It would be extremely misleading for them to adopt IAS24 but not everything that goes with it. I'm not sure that the CAS would support that. But that might be UEFA's and PWC's get out.

can the Etihad deal not be considered an RPT but still fair value?

 

[gordondaviesmoustache]

Re: City & FFP (continued)

Could it be argued at the CAS that if the Etihad deal is deemed to be a related party transaction, then we should be entitled to reevaluate it in an upwards direction as well as downwards for the purposes of FFP?

 

[Exeter Blue I am here]

Re: City & FFP (continued)

David Gill's involvement in this puts me in mind of General Melchett being the Judge in the trial of the Flanders Pigeon Murderer in Blackadder Goes Forth.

A great sketch......although I preferred the 'poo-poo' one

<a class="postlink" href="http://m.youtube.com/watch?v=_vafxnkWndI" onclick="window.open(this.href);return false;">http://m.youtube.com/watch?v=_vafxnkWndI</a>

 

[Centurions]

Re: City & FFP (continued)

Well they have cut and pasted IAS 24 RPT definitions into the FFP Rule Book.

Yes they have. But as far as I know they don't actually say that they are adopting IAS 24 as the basis for establishing whether a transaction is a RPT. And if you just take the basic standard without all of the technical guidance its fairly vague. For example. the bit about close relatives simply states "This may include..." Its not set in tablets of stone. There doesn't seem to be anything in the FFP rules that requires them to adopt all of the guidance that the auditors use.

It would be extremely misleading for them to adopt IAS24 but not everything that goes with it. I'm not sure that the CAS would support that. But that might be UEFA's and PWC's get out.

can the Etihad deal not be considered an RPT but still fair value?

Yes, I think they just consider it more closely for fair value.