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

[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.

 

[Centurions]

The Forest fan is not a happy bunny. Shame.

Didn't take Sandra long to make a tit of himself again, did it?

 

[OntarioBlue]

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…

I’m assuming there’s nothing stopping owners converting debt to equity ?

 

[Trevor Morley's Tache]

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

That's exactly why I'm looking forwards to it. ;-)

 

[i8rags]

victory is victory

 

[ufo]

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…

Remember nose digging sleeping bag economics scientist?

 

[burning blue soul]

I don’t see this as the massive win it’s portrayed as unless we can book those 2 sponsorships that were rejected as not FMV, isn’t that the whole point? Can anyone explain what will happen with these now?

Yes. The investment amount has just doubled :)

 

[Skrastins]

Good

 

[Stoned Rose]

The look on Khaldoun's face on the MEN headlines email says it all:

Man City damages, PSR chaos, Arsenal issue - what next for Premier League

Manchester City's victory in key aspects of their legal battle with the Premier League could have far-reaching consequences

www.manchestereveningnews.co.uk

Love how we’ve stuck the boot in on the tarquins.

And who’d be thought the “fantastically well run” Brighton were doing it all on the sly.

 

[Centurions]

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

As long as it's Masters who has to present it.