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

[Hart of the Matter]

Re: I love FFP - Cartel United and Media Monkeys

Yeah. Had a great time but loads of Geordie Rags and Dippers came out of the woodwork. At least the Tarquin had a london wideboy accent. Calling them all a cartel really wound them up. The more wound up they got the more they lost the plot. It got very heated with loads of people chipping in. I owned them all by the end :-)

 

[Thaksinssoldier]

Re: City & FFP (continued)

G14-driven, true. Protect the cartel at all costs.

I bet Randy Lerner regrets voting for FFP. Slashed the value of his asset

He didn't.

Yes, he did. Aston Villa were one of the most vocal champions of Premiership FFP. It was a horrendous business decision by Lerner, as it meant selling the club at a good profit(on par with past takeovers in prem) would be next to impossible for them. He'll make a slight profit or breakeven at best, as anyone buying Villa wont be able to invest heavily to rise up the table. It's catch 22 and a lot of clubs were too short sighted to realise it at the time. I hope it costs those owners millions.

 

[adrianr]

Re: City & FFP (continued)

It's the same for everyone else. The difference is that our shit sandwich has a lot more sugar than most others, as we'll have one of the highest revenue streams in Europe in the next couple of years.

And this is another reason why we potentially don't nor ever wanted to defeat FFP (Unless it became obvious it was going to stop us competing in Europe full stop). Like it or not FFP rules probably as of now but certainly in 2 seasons time are going to do exactly as intended - Solidify the positions of the top clubs around Europe. Difference being we're going to be one of them.

We have the handy back up of being fucking loaded should Dupont defeat it anyway of course, but if nothing else changes we're still sitting prettier than most. Ferran/Khaldoon/Mansour will ensure our revenue streams outstrip everyone else's, along with our ventures in the states and Melbourne, and FFP will ensure we can still out spend our opponents.

So that's it then? Our objections to FFP were motivated purely by self interest? Now that it looks like we're alright Jack, nobody gives a fuck about the fact that these regulations will prevent the dream that we've all enjoyed happening to anybody else?

Woaahh easy mate that's not what I'm saying. I fully believe the fans of any club should be able to experience what we have, without a shadow of a doubt, and I'm 100% against any cartel protectionist bullshit. But this is the real world, and yes I believe everything we've done regarding FFP so far (and will do in the future) is motivated purely by self interest. It's Mansour's fortune, he's not investing it for the good of Villa, or Stoke, or Sunderland, it's all for City. And he stands a better chance of getting that investment back if FFP goes ahead as planned, providing we're on the right side of the fence (which it sounds like from now on we will be). We don't have to like it, but it's the reality.

I also think those of you now saying 'Fuck them they voted for it' are being a little unfair. I don't know any football fan who voted for FFP, or against it. This is board room driven. Yes many fans have been uneducated as to it's pitfalls but you can't expect widespread knowledge on a subject that's been very (deliberately) City focused.

 

[goalmole]

Re: City & FFP (continued)

G14-driven, true. Protect the cartel at all costs.

The PL needed a two-thirds majority for the fine details of the wage restraints and cap on losses — to be added to the rulebook.

That was 14 clubs in favour, 1 abstained

I'll say again, no-one voted for UEFA's rules - the rules we're actually discussing here. The Premier League rules haven't even kicked in yet.

They haven't as yet kicked in but they have been voted in.

 

[MCC]

Re: I love FFP - Cartel United and Media Monkeys

Yeah. Had a great time but loads of Geordie Rags and Dippers came out of the woodwork. At least the Tarquin had a london wideboy accent. Calling them all a cartel really wound them up. The more wound up they got the more they lost the plot. It got very heated with loads of people chipping in. I owned them all by the end :-)

Geordie rags? Do they exist?

 

[Zin 'messiah' Zimmer]

Re: City & FFP (continued)

So that's it then? Our objections to FFP were motivated purely by self interest? Now that it looks like we're alright Jack, nobody gives a fuck about the fact that these regulations will prevent the dream that we've all enjoyed happening to anybody else?

Those same clubs voted for it, why the fuck would you give a shit when measured against ignorance????

Because I believe FFP in it's current format to be anticompetitive and bad for the game, because it ensures that the elite clubs will dominate by virtue of their superior financial resources. I thought that when it looked like FFP was going to be bad for City, and I still think that now that it looks like FFP isn't going to be that bad for City. It's called having a principled stance on an important issue, some of you should try it ;).

And yet the men who write cheques chose to ignore these 'principles' - what you should realise is that the world is bent and however admirable a man with principles is, he isn't driving my kind of boat!!!!!

 

[hgblue]

Re: City & FFP (continued)

Those same clubs voted for it, why the fuck would you give a shit when measured against ignorance????

Because I believe FFP in it's current format to be anticompetitive and bad for the game, because it ensures that the elite clubs will dominate by virtue of their superior financial resources. I thought that when it looked like FFP was going to be bad for City, and I still think that now that it looks like FFP isn't going to be that bad for City. It's called having a principled stance on an important issue, some of you should try it ;).

And yet the men who write cheques chose to ignore these 'principles' - what you should realise is that the world is bent and however admirable a man with principles is, he isn't driving my kind of boat!!!!!

Fair enough, fuck 'em then ;).

 

[goalmole]

Re: City & FFP (continued)

They DID vote for the premier league FFPR though...

The fans didn't tho

The fans don't own the club.

 

[Zin 'messiah' Zimmer]

Re: City & FFP (continued)

Because I believe FFP in it's current format to be anticompetitive and bad for the game, because it ensures that the elite clubs will dominate by virtue of their superior financial resources. I thought that when it looked like FFP was going to be bad for City, and I still think that now that it looks like FFP isn't going to be that bad for City. It's called having a principled stance on an important issue, some of you should try it ;).

And yet the men who write cheques chose to ignore these 'principles' - what you should realise is that the world is bent and however admirable a man with principles is, he isn't driving my kind of boat!!!!!

Fair enough, fuck 'em then ;).

Mate it wasn't a dig, in an ideal world everyone would do and say the same, unfortunately this vote highlighted that true greed from current owners, they've never had it so good with tv revenues and commercial opportunity, why would they want to hand that over to a dirty oil magnate??? What it has highlighted for me is that certain clubs aren't arsed about competing, just counting the coppers.... Did someone say arsenal??? (:

 

[CITYBOY1000]

Re: City & FFP (continued)

Just read somewhere that we get two thirds of the fine back (about £32m) if we comply and meet UEFA's expectations in the next 3 years. Is that true?

I think its suspended so we only have to pay it if we don't comply

Strictly speaking we don't pay UEFA, they withhold the 60m euros from this season and next season's CL payments and then refund 40m when we comply with FFP in the 13/14 and 14/15 accounting periods. That's how I read it.

No mate. We don't get 60m euros withheld. We didn't even get much more than half that anyway for being in the competition.

1. We lose 10m euros from this season.
2. We lose 10m euros from next season.
3. We have our debt allowance for FFP reduced from 30m to 10m for the next financial year.
4. We have our debt allowance for FFP reduced from 30m to 20m for the financial year after next.
5. We have our Champs League squad reduced to 21 from 25. Nobody seems sure whether the 8 player home grown rule still applies or whether it will be reduced proportionately.
6. We have a wage freeze on our wages for the next financial year so far as the Champs League group is concerned.
7. There is a cap on our spending for the next financial year in the order of £60 million. However, nobody is clear whether this allows for amortisation or whether it includes wages as well.

The reasoning behind 3 and 4 is that it will make it tougher to break even and we might face further sanctions if we end up like this year. However, our owners are saying we break even this year to 31st May 2014 so it won't affect us.

However, we are not having anything more than 20m euros withheld and that is staged over 2 years.

There is no £50m or £60m fine and there will therefore be no refund.