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

Cue hoards of giddy rags and dippers predicting the end of City. Close your eyes lads and pretend it's 1992 again!
 
BlueAnorak said:
The Belgian Court recommended a provisional judgement to stop the reduction in the the 3 year FFP deficit from €45m to €30m for season 2016/17 - that is the bit that has been rejected.
There still has to be a full hearing.
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So how does that affect us this season?
 
Ric said:
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Without reading beyond this thread, it seems that the Belgian court has essentially attempted to impose a remedy on a court above and is thus acting ultra vires.

In any event, the European Court [ECJ?] will doubtless have decided that it needs to consider all the evidence before the final determination is made and then consider, if FFP effectively 'loses', what the appropriate remedy should be.

In English, the Belgium court can't tell the EU court what the punishment is before the EU court has made a decision after hearing both sides of the story.

I may be wrong as I have not read anything about it, of course.
 
coleridge said:
Without reading beyond this thread, it seems that the Belgian court has essentially attempted to impose a remedy on a court above and is thus acting ultra vires.

In any event, the European Court [ECJ?] will doubtless have decided that it needs to consider all the evidence before the final determination is made and then consider, if FFP effectively 'loses', what the appropriate remedy should be.

In English, the Belgium court can't tell the EU court what the punishment is before the EU court has made a decision after hearing both sides of the story.

I may be wrong as I have not read anything about it, of course.
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Ooh, I love it when you get all technical.
 
aguero93:20 said:
It doesn't, we're under a condition of our settlement to make a loss of -£10m or better.
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Indeed - It does kick in the season after (2016/17) where we can only make an FFP loss of €30m in EUROS over ALL the preceding three seasons - i.e. 2014/15, 2015/16 & 2016/17.
The good news is that for the first of these we had to have broken even (or be in profit) for FFP.
The bad news is that the £-€ exchange rate is shit.
 
aguero93:20 said:
Not really, that puts us in a much stronger position than European clubs.
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Not really on topic but relevant to exchange rates I saw that MUFC accounts saw a jump of about £5m cost simply because of the £ > $ conversion rate changing.
Not an expert in this field but surely banks deal with negotiating a fixed rate that allows the borrower / lender risk to be out of the equation and allows the payback period to be known for that period.
 
aguero93:20 said:
They specify the amount in one currency afaik and you get lucky or you don't.
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Ok you may be right Ag but certainly when I was involved with a different sector of business we expected to receive dollars from USA over a prolonged period on a monthly basis.
The bank who dealt with our normal transactions agreed to give us a fixed rate for those transactions so that we could get on with manufacturing and they could take the risk (for a fee of course ) regarding forward receipt of dollars.
In other words stick to knitting and let those who deal with money take forward risks and get on with making a long term contract pay over a long period.

The alternative is that your whole contract can be undermined by fluctuations in exchange rates.
 
Stephenhakin said:
Can anyone with any legal knowledge explain what this means?
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Uefa are talking bollocks, the case hasn't been thrown out, it's yet to be heard. A preliminary judgement was rejected. That's equivalent to a murder trial being put back and the defendants lawyer celebrating his client's acquittal.
 
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