So all this jumping for joy that posters are doing is a waste of time.
City still do not accept the rules and are awaiting the tribunals written verdict.
Yes I understand that bit. I'm talking about last night's tweet.The APT rules were rolled back to a previous version as we successfully challenged the revised rules and clubs now have to pay market rate on shareholder loans increasing their costs. It’s a win.
The outstanding issue is how to treat existing shareholder loans ie do they incur retroactive costs.
Least that’s my understanding.
Not really a waste of time imo. It shows we won the APT case as it’s reverted back to the 2021 version with some added caveats about Director loansSo all this jumping for joy that posters are doing is a waste of time.
City still do not accept the rules and are awaiting the tribunals written verdict.
I can’t find 1 article so far on the news from last night.
The PL has been well and truly beaten.
Any decent journalist needs to question how and why the PL, with its army of lawyers would push through illegal rules. Allowing certain clubs an unfair advantage through interest free loans which specifically discriminate against clubs with Muslim owners.
This also completely fucks up the PL claims of victory and shows city were open and honest with everything they said in regard to this case.
If Lord Pannick had dropped a pen whilst delivering his closing statement had been leaked it would be plastered all over the news.
Spurs probably secured that loan when the BOE base rate was minuscule, it's 4.75%, no way would 3% be available now.If you rely on commercial lenders that specialise it seems in loaning money to football clubs like MCKENZIE ( spelling) who in effect take a charge over future income such as gate receipts, TV revenue, and transfer income then we have a realistic measure for clubs like Leicester & Everton .
You then have another example where the likes of Spurs consolidated all their borrowings which included stadium build costs and day to day cash flow debt where they were able to secure a rate of less than 3%
However if you rely on high street banks where you are probably talking about 6-10% then that’s a whole different matter.
It’s like we’re inching towards victory. If we get the tribunal ruling we want it’s a win that even the Premier League can’t spin a win out of it.Not really a waste of time imo. It shows we won the APT case as it’s reverted back to the 2021 version with some added caveats about Director loans
However, the tribunal may still say it’s all null & void from 2021 (I think) as the interest on the loans still isn’t being applied for the 3 previous PSR years
I could be talking absolute shite, but the part about not applying the interest for the previous 3 years sounds exactly the same reasons the tribunal ruled them as being u lawful
Please don’t take my word for it tho, as it know fuck all about the law :)
Not really a waste of time imo. It shows we won the APT case as it’s reverted back to the 2021 version with some added caveats about Director loans
However, the tribunal may still say it’s all null & void from 2021 (I think) as the interest on the loans still isn’t being applied for the 3 previous PSR years
I could be talking absolute shite, but the part about not applying the interest for the previous 3 years sounds exactly the same reasons the tribunal ruled them as being u lawful
Please don’t take my word for it tho, as it know fuck all about the law :)
Well seeing as CITY are being charged under rules which didn't even exist when we allegedly broke them.......The APT rules were rolled back to a previous version as we successfully challenged the revised rules and clubs now have to pay market rate on shareholder loans increasing their costs. It’s a win.
The outstanding issue is how to treat existing shareholder loans ie do they incur retroactive costs.
Least that’s my understanding.
might be my fault the jails are full as i'm no one and i know fuck all about the law.No wonder the jails are over crowded when no one knows fuck all about the law.