City launch legal action against the Premier League | City win APT case (pg901)

[Victorinodennistua]

The PL are embarrassed. They should be.

Do we win a trophy for this? If so I’ll need to book a day off.

 

[SebastianBlue]

Does anyone have a list of the clubs with the dodgy 0% shareholder loans?

From the Times article about the ruling:

As I said months ago, and immediately after the ruling was released, it is a real head scratcher why many clubs—especially Arsenal—where so intent on undermining our challenge both privately and publicly…

 

[Colin Bells Boots]

Not least because the PL is supposed to be non partisan and represent ALL its clubs not just a small cabal.

How fucking naive are you ? :)

 

[N1985]

They can knock it off the £120 million we're about to sue them for

 

[SebastianBlue]

Looking forward to the PiGMOL turning the screw on us...

I would actually welcome that as it would make it fairly easy to build a case for officiating corruption and collusion.

 

[Magicpole]

How fucking naive are you ?

He did say, supposed to. He knows it’s a crock, would be my bet.

 

[BlueMonkey79]

Can't wait for sunbed Charlie's comments on Talksport tomorrow.

 

[MCFC1993]

Just be turned into equity or some business jargon shite like that

Yeah I figured they would do that but puts them in the shitter in the long run. That's essentially how they've managed to compete.

 

[alib]

The BBC are predictably pathetic in their reporting of this…….best they stick to what they do best……protecting peadophiles

 

[TedofChume]

When did this whole owner interest free loans become apparent as something we were challenging? I dont remember ever hearing about this before but it feels like this as significant as anything im reading in all of this.

I know when FSG bought Liverpool, there were two debts to pay to Kop Holdings (a fabricated loan of Hicks and Gillette) and Nat West. I can't remeber which way round it was, they were both around £220 & £240m. FSG settled one as their purchase of the club, then settled the other by lending Liverpool the money at a discretionary rate of 0.5% a year. It seems FSG had taken mortgage out on Anfield (now a separate company to Liverpool FC) at a market rate to fund this. Bearing in mind at the same time Sullivan and co were lending West Ham money at a Fair market Value of 8%, it struck me that 7.5% of £220-240m was £16-17m a year saving, and that was owner investment. It allowed Liverpool to reduce the FSG loan and almost pay it off (down to £70m) before Klopp and Covid came along. I have always oncsiderd this to be "financial doping" by the back door. An extra £16m x 3 years on PSR would make a massive difference to whether they stay within £105m loss. I never understood how they could get away with it.

UPDATE:
I've done the rough calculations here now:

The seedy side of Liverpool’s Financial Manipulations – low interest loans - Man City Stuff

The full effect of interest free loans and how it distorts competition in England and Europe In my post Liverpool Financial Doping on 08 June 2023, I first referenced Liverpool's financial doping practices on this page, and today's ruling has made it clear that the exclusion of owners' loans and...

mancitystuff.co.uk