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

[Shaggy]

Think this is going to get ugly

 

[GOSBTS]

I think most fans don't understand all these financial rules. Seems us Citizens are becoming experts lol.

Talking to a Brighton fan the other day I asked if he was worried about Brighton having to pay interest on the clubs loads ?
He replied no we won't have to pay an interest on them as they are loads from the owner !

Brighton fan here, just thought I'd provide a bit of perspective on our situation from our end in case anyone is interested.

The APT rules were only introduced in December 2021, so my understanding is that they would only apply from that point (do let me know if I'm wrong about that though). So, looking at the last three FFP accounting periods:

Period ending 23/24: accounts aren't published yet for last season, but we were in the Europa league. I believe that UEFA's rules already have a mechanism for applying FMV interest rates to shareholder loans, so assuming we complied with their (stricter) rules we shouldn't be at any risk for the premier league's

Period ending: 22/23: we made headline profits of over £90m over these three years, so even if you applied 10% interest rates to our shareholder loans for the 21/22 and 22/23 seasons we'd still have made a profit. Can't see any risks for this period

Period ending 21/22: Some risk for this period. We made headline losses of ~£96m over the 3 years, so if you apply a 10% interest rate for the 21/22 season it would bring the losses to ~136m, which is obviously over the £115m limit. However, a few points to consider are:

1) that headline £96m loss doesn't include allowable PSR deductions like youth/infrastructure/women's spending or covid losses. The relevant losses for the purposes of PSR are likely to be considerably lower

2) that 10% interest rate is likely to be a massive overestimate as most of our shareholder loans are from the low interest rate 0.5% base rate period. I've just applied a 10% rate to the full loans here as a worst case scenario

3) The APT rules were introduced in December 2021, so if they only apply from that point the interest applied to our loans in 21/22 will only need to account for slightly over half the year instead of the full year

So overall, I think there's a good chance we'll be fine for the period ending 21/22 as well.


Considering the potential rule change more generally, it's actually a change I welcome. As much as I trust our owner, I'm very uncomfortable with the idea of the club being in any significant debt due to our history. The club has actually wanted to start repaying Bloom for several years, but until 22/23 he'd always refused as there were more important things to spend money on and no cost to the club of leaving the loans there. If the rule changes alter that equation, we'll hopefully start to put a lot more focus on paying down his loans and become debt free in a much shorter time period.

 

[Cobwebcat]

Have I not said that I’m a Newcastle United fan?
We were already hated before our takeover.
It is both funny and infuriating watching fans of other clubs on the likes of Reddit all claim they had respect for our fans, and liked us before our takeover.
Absolutely fucking bullshit, we used to get called deluded, demanding etc, with Sky, and TalkSport etc all cherry picking the wallpapers coming out of social clubs a to put on their stations and re-enforce this view.
Actually it’s ironic that the other clubs fans who were wishing we did a Leeds when we got relegated, are now the ones defending these PSR rules with the defence that it would prevent us from doing a Leeds.

It’s about time your club grew a pair rather than hiding behind City.

Most of your fans base still think we are the enemy…STILL…and that True Geordie is one of them. I mean how thick can people be?

 

[Chris-NCL]

It’s about time your club grew a pair rather than hiding behind City.

Most of your fans base still think we are the enemy…STILL…and that True Geordie is one of them. I mean how thick can people be?

Most of our fans are right behind Man City and cheering you guys on.

You watch True Geordie?
No one watches him.

 

[Cobwebcat]

Most of our fans are right behind Man City and cheering you guys on.

You watch True Geordie?
No one watches him.

Well they need to speak up a bit. It’s taken them long enough and if you hadn’t been bought out all we would hear is 115 and how much bigger you are than City…which I still hear a lot from your fans…which is a stupid argument either way.

He has enough followers whether I watch him or not.

We warned you what would happen, and now it has, your owners need to be more proactive. If you just sit there they will roll right over you.

 

[Stoned Rose]

Does anyone know how this is related to the trials?
Does anyone know what are those proposed amendments that the club claims are "unlawful"?

Do some reading you scouse ****.

 

[Stoned Rose]

Have I not said that I’m a Newcastle United fan?
We were already hated before our takeover.
It is both funny and infuriating watching fans of other clubs on the likes of Reddit all claim they had respect for our fans, and liked us before our takeover.
Absolutely fucking bullshit, we used to get called deluded, demanding etc, with Sky, and TalkSport etc all cherry picking the wallpapers coming out of social clubs a to put on their stations and re-enforce this view.
Actually it’s ironic that the other clubs fans who were wishing we did a Leeds when we got relegated, are now the ones defending these PSR rules with the defence that it would prevent us from doing a Leeds.

Not sure anyone has ever been arsed about Newcastle, never mind hate them.

 

[Brightwell’s left peg]

I disagree. I happen to think that some of the "big" or "successful" (as you say) clubs exert great, great control over what the Premier League decides Fair Market Value is and how it should be changed. Some "successful" PL clubs do that to help themselves and ruin their rivals.

By less successful, I meant less successful than City…so basically all of them.

 

[nmc]

I lived in Newcastle for 34 years you have always been deluded

I lived in Newcastle in the mid 80’s. The ‘Toons’ support was pretty sparse at that time when Jack Charlton was at the helm.

 

[richardtheref]

I live in Durham and worked in Newcastle for 20 years. Most of Geordies I know want City relegated to none league