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

[Prestwich_Blue]

Re: City & FFP (continued)

Tried to read it all, but being as thick as pig sh1t or a Roy Keane as we call it round here, couldn't understand it.
If my neighbour Mr Wenger won the lottery ,paid off his morgage and cleared his debts, then me who is up to my neck in debt without a pot to piss in, can ask the government to fine him ? Does this sum it up ?

That's about it but let's introduce another analogy.

The government tells people it's going to introduce a law to keep house prices in line with wages and limit personal debt. It says that the plan is that you can only borrow 3 times your income when you take out a mortgage.

However rich people with big mortgages lobby them to change it. Then you, who earns 50k a year but have inherited a large sum of money, go along to buy a £1m house for cash. You get told that you can't buy the house because it's more than 3 times your income. You protest that you've got the cash and don't need a mortgage and that the law is supposed to be about how much you borrow but to no avail.

That's the situation we're in.

 

[dctid]

Re: City & FFP (continued)

We will either pay it or get kicked out UEFA wont back down

Logically we could afford a year or so out of the CL dont see any other option.

 

[LoveCity]

Re: City & FFP (continued)

Simon (Mullock) says:

Manchester City face expulsion from Champions League over FFP as they fight on

Manchester City are heading for a Financial Fair Play showdown with UEFA.

The Blues, who will claim the Premier League title for the second time in three years if they avoid defeat against West Ham today, have refused to accept a punishment for allegedly breaching financial regulations.

The deadline to accept a £50million fine and restrictions on their Champions League squad expired on Friday night.

City’s fate will now be decided by UEFA’s club financial control body, which has the power to expel them from European competition.

But the club’s Abu Dhabi-based owners are now committed to take their fight all the way to the Court of Arbitration for Sport. City have attempted to cut losses since FFP was introduced and expected their efforts to comply would be recognised by UEFA.

But the refusal of senior club officials to publicly acknowledge FFP – the regulations were not even mentioned in City’s annual accounts – is a clear indication of their belief that the regulations contravene European law.

City’s lawyers have been building a case to destroy FFP in its current guise for the last three years.

And their resolve has been strengthened further by a belief that Qatar-owned French club Paris Saint-Germain have been treated more favourably by UEFA.

 

[SkyBlueCanuck]

Re: City & FFP (continued)

Tried to read it all, but being as thick as pig sh1t or a Roy Keane as we call it round here, couldn't understand it.
If my neighbour Mr Wenger won the lottery ,paid off his morgage and cleared his debts, then me who is up to my neck in debt without a pot to piss in, can ask the government to fine him ? Does this sum it up ?

That's about it but let's introduce another analogy.

The government tells people it's going to introduce a law to keep house prices in line with wages and limit personal debt. It says that the plan is that you can only borrow 3 times your income when you take out a mortgage.

However rich people with big mortgages lobby them to change it. Then you, who earns 50k a year but have inherited a large sum of money, go along to buy a £1m house for cash. You get told that you can't buy the house because it's more than 3 times your income. You protest that you've got the cash and don't need a mortgage and that the law is supposed to be about how much you borrow but to no avail.

That's the situation we're in.

quite apt, PB. that's a very good way to break this down. pity that the pundits on the tube or in the fishwraps won't put it half so clearly as that.

 

[adrianr]

Re: City & FFP (continued)

Tried to read it all, but being as thick as pig sh1t or a Roy Keane as we call it round here, couldn't understand it.
If my neighbour Mr Wenger won the lottery ,paid off his morgage and cleared his debts, then me who is up to my neck in debt without a pot to piss in, can ask the government to fine him ? Does this sum it up ?

That's about it but let's introduce another analogy.

The government tells people it's going to introduce a law to keep house prices in line with wages and limit personal debt. It says that the plan is that you can only borrow 3 times your income when you take out a mortgage.

However rich people with big mortgages lobby them to change it. Then you, who earns 50k a year but have inherited a large sum of money, go along to buy a £1m house for cash. You get told that you can't buy the house because it's more than 3 times your income. You protest that you've got the cash and don't need a mortgage and that the law is supposed to be about how much you borrow but to no avail.

That's the situation we're in.

A fantastic analogy. Should be stickied for those unsure what all this mess is about.

 

[cookster]

Re: City & FFP (continued)

Simon (Mullock) says:

Manchester City face expulsion from Champions League over FFP as they fight on

Manchester City are heading for a Financial Fair Play showdown with UEFA.

The Blues, who will claim the Premier League title for the second time in three years if they avoid defeat against West Ham today, have refused to accept a punishment for allegedly breaching financial regulations.

The deadline to accept a £50million fine and restrictions on their Champions League squad expired on Friday night.

City’s fate will now be decided by UEFA’s club financial control body, which has the power to expel them from European competition.

But the club’s Abu Dhabi-based owners are now committed to take their fight all the way to the Court of Arbitration for Sport. City have attempted to cut losses since FFP was introduced and expected their efforts to comply would be recognised by UEFA.

But the refusal of senior club officials to publicly acknowledge FFP – the regulations were not even mentioned in City’s annual accounts – is a clear indication of their belief that the regulations contravene European law.

City’s lawyers have been building a case to destroy FFP in its current guise for the last three years.

And their resolve has been strengthened further by a belief that Qatar-owned French club Paris Saint-Germain have been treated more favourably by UEFA.

More made up guess work by a kite flying lying Journo. You get the drift...

 

[Damocles]

Re: City & FFP (continued)

Simon (Mullock) says:

Manchester City face expulsion from Champions League over FFP as they fight on

Manchester City are heading for a Financial Fair Play showdown with UEFA.

The Blues, who will claim the Premier League title for the second time in three years if they avoid defeat against West Ham today, have refused to accept a punishment for allegedly breaching financial regulations.

The deadline to accept a £50million fine and restrictions on their Champions League squad expired on Friday night.

City’s fate will now be decided by UEFA’s club financial control body, which has the power to expel them from European competition.

But the club’s Abu Dhabi-based owners are now committed to take their fight all the way to the Court of Arbitration for Sport. City have attempted to cut losses since FFP was introduced and expected their efforts to comply would be recognised by UEFA.

But the refusal of senior club officials to publicly acknowledge FFP – the regulations were not even mentioned in City’s annual accounts – is a clear indication of their belief that the regulations contravene European law.

City’s lawyers have been building a case to destroy FFP in its current guise for the last three years.

And their resolve has been strengthened further by a belief that Qatar-owned French club Paris Saint-Germain have been treated more favourably by UEFA.

More made up guess work by a kite flying lying Journo. You get the drift...

Nope, Mullock is currently the number 1 source for City stuff

 

[Claytop]

Re: City & FFP (continued)

Simon (Mullock) says:

More made up guess work by a kite flying lying Journo. You get the drift...

Nope, Mullock is currently the number 1 source for City stuff

Indeed. I like the part about building a case to destroy FFP for the past 3 years.

We got this, I'm confident.

 

[dctid]

Re: City & FFP (continued)

Simon (Mullock) says:

More made up guess work by a kite flying lying Journo. You get the drift...

Nope, Mullock is currently the number 1 source for City stuff

There is too much stuff being leaked and its consistent - 50M we aint paying etc etc

 

[Gaylord du Bois]

Re: City & FFP (continued)

It's beginning mimic this seasons Game Of Thrones.