remember arthur mann
Well-Known Member
Re: City & FFP (continued)
Ask Dom !
shinpads said:
Ask Dom !
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City & FFP | 2020/21 Accounts released | Revenues of £569.8m, £2.4m profit (p 2395)
- Thread starter Marvin
- Start date
M18CTID
Well-Known Member
Re: City & FFP (continued)
As things stand, it's all rather chaotic. On the one hand we were being told by all and sundry in the media that we'd been duly punished, were the only club not accepting the punishment meted out, and UEFA would go public on the announcements as to which clubs had fallen foul and their respective punishments at the start of this week.
Then, contrary to everything that had gone on before, on Monday Infantino said the process was still ongoing regarding the 9 clubs, and they were hopeful that everything would be sorted in time for the start of next season! Fucking hell, that's some serious shift in the expected timeline and it really makes you wonder what the hell is going on.
I don't know whether to interpret this as good or bad news!
As things stand, it's all rather chaotic. On the one hand we were being told by all and sundry in the media that we'd been duly punished, were the only club not accepting the punishment meted out, and UEFA would go public on the announcements as to which clubs had fallen foul and their respective punishments at the start of this week.
Then, contrary to everything that had gone on before, on Monday Infantino said the process was still ongoing regarding the 9 clubs, and they were hopeful that everything would be sorted in time for the start of next season! Fucking hell, that's some serious shift in the expected timeline and it really makes you wonder what the hell is going on.
I don't know whether to interpret this as good or bad news!
George Hannah
Well-Known Member
Re: City & FFP (continued)
<a class="postlink" href="http://www.independent.co.uk/sport/football/premier-league/how-are-bigspending-manchester-city-set-to-pass-uefas-financial-fair-play-rules-9097609.html" onclick="window.open(this.href);return false;">http://www.independent.co.uk/sport/foot ... 97609.html</a>
It seems inconceivable that City will not have thought through and analysed the kind of scrutiny that the Club Financial Control Body will submit their accounts to. The expertise City have amassed includes Financial Fair Play specialists – Alex Byars and Martyn Hawkins joined from the Deloitte sports business, which helped Uefa set up the FFP legislation. But a pass or a fail by Uefa will provoke the same controversy which has accompanied City throughout their rapid journey to the top
<a class="postlink" href="http://www.independent.co.uk/sport/football/premier-league/how-are-bigspending-manchester-city-set-to-pass-uefas-financial-fair-play-rules-9097609.html" onclick="window.open(this.href);return false;">http://www.independent.co.uk/sport/foot ... 97609.html</a>
Re: City & FFP (continued)
Wouldn't surprise me that the sticking point is the secrecy surrounding the Image Rights...Martin Samuel has alluded to them already and has luckily kept his mouth shut...and it wouldn't surprise me that the club won't tell UEFA who they are to, as they are leakier than Titanic when hit by an iceberg...within hours "someone" would leak who it is to and it would be in the public domain...
Wouldn't surprise me that the sticking point is the secrecy surrounding the Image Rights...Martin Samuel has alluded to them already and has luckily kept his mouth shut...and it wouldn't surprise me that the club won't tell UEFA who they are to, as they are leakier than Titanic when hit by an iceberg...within hours "someone" would leak who it is to and it would be in the public domain...
Didsbury Dave
Well-Known Member
- Joined
- 1 Feb 2007
- Messages
- 38,146
Re: City & FFP (continued)
That article shows you how much of our revenue is actually fudged.
George Hannah said:It seems inconceivable that City will not have thought through and analysed the kind of scrutiny that the Club Financial Control Body will submit their accounts to. The expertise City have amassed includes Financial Fair Play specialists – Alex Byars and Martyn Hawkins joined from the Deloitte sports business, which helped Uefa set up the FFP legislation. But a pass or a fail by Uefa will provoke the same controversy which has accompanied City throughout their rapid journey to the top
<a class="postlink" href="http://www.independent.co.uk/sport/football/premier-league/how-are-bigspending-manchester-city-set-to-pass-uefas-financial-fair-play-rules-9097609.html" onclick="window.open(this.href);return false;">http://www.independent.co.uk/sport/foot ... 97609.html</a>
That article shows you how much of our revenue is actually fudged.
john@staustell
Well-Known Member
- Joined
- 21 Dec 2009
- Messages
- 1,784
Re: City & FFP (continued)
You have to suspect though that the expansion of the 'company' to other continents seems to be a curved ball UEFA weren't expecting!
Didsbury Dave said:George Hannah said:It seems inconceivable that City will not have thought through and analysed the kind of scrutiny that the Club Financial Control Body will submit their accounts to. The expertise City have amassed includes Financial Fair Play specialists – Alex Byars and Martyn Hawkins joined from the Deloitte sports business, which helped Uefa set up the FFP legislation. But a pass or a fail by Uefa will provoke the same controversy which has accompanied City throughout their rapid journey to the top
<a class="postlink" href="http://www.independent.co.uk/sport/football/premier-league/how-are-bigspending-manchester-city-set-to-pass-uefas-financial-fair-play-rules-9097609.html" onclick="window.open(this.href);return false;">http://www.independent.co.uk/sport/foot ... 97609.html</a>
That article shows you how much of our revenue is actually fudged.
You have to suspect though that the expansion of the 'company' to other continents seems to be a curved ball UEFA weren't expecting!
Re: City & FFP (continued)
Im never quite sure how to take these stories. If they are twisted to make us look bad and this is normal accounting practice for ffootball clubs, or are we actually just creating stuff to up our income. It certainly makes our accounts look extremely dodgy.
Didsbury Dave said:George Hannah said:It seems inconceivable that City will not have thought through and analysed the kind of scrutiny that the Club Financial Control Body will submit their accounts to. The expertise City have amassed includes Financial Fair Play specialists – Alex Byars and Martyn Hawkins joined from the Deloitte sports business, which helped Uefa set up the FFP legislation. But a pass or a fail by Uefa will provoke the same controversy which has accompanied City throughout their rapid journey to the top
<a class="postlink" href="http://www.independent.co.uk/sport/football/premier-league/how-are-bigspending-manchester-city-set-to-pass-uefas-financial-fair-play-rules-9097609.html" onclick="window.open(this.href);return false;">http://www.independent.co.uk/sport/foot ... 97609.html</a>
That article shows you how much of our revenue is actually fudged.
Im never quite sure how to take these stories. If they are twisted to make us look bad and this is normal accounting practice for ffootball clubs, or are we actually just creating stuff to up our income. It certainly makes our accounts look extremely dodgy.
Neville Kneville
Well-Known Member
Re: City & FFP (continued)
Why is that ?
Do other big companies not do stuff like this ?
willipp said:Didsbury Dave said:George Hannah said:<a class="postlink" href="http://www.independent.co.uk/sport/football/premier-league/how-are-bigspending-manchester-city-set-to-pass-uefas-financial-fair-play-rules-9097609.html" onclick="window.open(this.href);return false;">http://www.independent.co.uk/sport/foot ... 97609.html</a>
That article shows you how much of our revenue is actually fudged.
Im never quite sure how to take these stories. If they are twisted to make us look bad and this is normal accounting practice for ffootball clubs, or are we actually just creating stuff to up our income. It certainly makes our accounts look extremely dodgy.
Why is that ?
Do other big companies not do stuff like this ?
I'm With Stupid
Well-Known Member
- Joined
- 6 May 2013
- Messages
- 20,537
Re: City & FFP (continued)
I don't think it's normal practice for football clubs, but it's certainly common for multinational corporations looking to avoid tax. Starbucks UK has never made a profit in 15 years in the UK, for example, instead paying "image rights" to a company based in a far lower tax country to keep their official profits down. Dodgy as fuck, but crucially, still legal. Personally, I have no problem with City using dodgy accounting to get round what are essentially corrupt as fuck regulations.willipp said:Didsbury Dave said:George Hannah said:<a class="postlink" href="http://www.independent.co.uk/sport/football/premier-league/how-are-bigspending-manchester-city-set-to-pass-uefas-financial-fair-play-rules-9097609.html" onclick="window.open(this.href);return false;">http://www.independent.co.uk/sport/foot ... 97609.html</a>
That article shows you how much of our revenue is actually fudged.
Im never quite sure how to take these stories. If they are twisted to make us look bad and this is normal accounting practice for ffootball clubs, or are we actually just creating stuff to up our income. It certainly makes our accounts look extremely dodgy.
Didsbury Dave
Well-Known Member
- Joined
- 1 Feb 2007
- Messages
- 38,146
Re: City & FFP (continued)
I'm not playing devils advocate here, but it's obvious that the club 'cook the books' to a degree to get through FPP. Remember that the £21m paid for intellectual property will be ultimately accounted for as an outgoing on the books of the subsidiary clubs, and this will presumably be covered by adug as a conversion to stock at some point. So ultimately the sheikh pays it.
The way our turnover has rocketed is not a true reflection of the growth of the club. That's not to say I don't support them doing it, I do 100%, because I believe FFP to be morally wrong. But there's a very glib 'this club will be in profit soon' acceptance of our finances which isn't wholly grounded in truth.
willipp said:Didsbury Dave said:George Hannah said:<a class="postlink" href="http://www.independent.co.uk/sport/football/premier-league/how-are-bigspending-manchester-city-set-to-pass-uefas-financial-fair-play-rules-9097609.html" onclick="window.open(this.href);return false;">http://www.independent.co.uk/sport/foot ... 97609.html</a>
That article shows you how much of our revenue is actually fudged.
Im never quite sure how to take these stories. If they are twisted to make us look bad and this is normal accounting practice for ffootball clubs, or are we actually just creating stuff to up our income. It certainly makes our accounts look extremely dodgy.
I'm not playing devils advocate here, but it's obvious that the club 'cook the books' to a degree to get through FPP. Remember that the £21m paid for intellectual property will be ultimately accounted for as an outgoing on the books of the subsidiary clubs, and this will presumably be covered by adug as a conversion to stock at some point. So ultimately the sheikh pays it.
The way our turnover has rocketed is not a true reflection of the growth of the club. That's not to say I don't support them doing it, I do 100%, because I believe FFP to be morally wrong. But there's a very glib 'this club will be in profit soon' acceptance of our finances which isn't wholly grounded in truth.