New “UEFA Financial Sustainability” rules

[Gordyola]

Er, that'll be 'dumb'.
; )

How dum of me :)

 

[pardoeofftomexico]

It hasn't been resolved yet.

I believe HMRC has some interest in it as well as the football authorities. QPR tried to do the same and had to pay 1/3 of the debt as a fine.

It's explained well with an interview with a QC invovled in football here -

Clubs question if Abramovich can write off debt without breaking rules

Some Premier League clubs want the issue investigated, which could ultimately lead to a points deduction or the debt having to be repaid, complicating an already-complex transaction.

www.dailymail.co.uk

The two parties who are interested are the Government who have imposed sanctions and the Premier League whose rules could be broken. Not HMRC. In my view it is up to the two concerned parties to try to be sensible about it without harming the club. I am sure Abramovich would prefer to still be able to access his loans which he could have had repaid tax free on his eventual sale of the club.

 

[halfcenturyup]

The two parties who are interested are the Government who have imposed sanctions and the Premier League whose rules could be broken. Not HMRC. In my view it is up to the two concerned parties to try to be sensible about it without harming the club. I am sure Abramovich would prefer to still be able to access his loans which he could have had repaid tax free on his eventual sale of the club.

Surely, if the loans are really forgiven, then the amount forgiven is income to Chelsea from the accounting, and fiscal, point of view, so I would imagine HMRC do have an interest.

But, I suspect people are bandying around words like "forgiven" as an easy way of saying Abramovic didn't need the loan money repaying to him. Doesn't mean he won't get value in any purchase price, though. I doubt there will ever be any real clarity.

In any case, it's funny that the PL were so concerned about Mansour investing in City that they have tied themselves up in knots with how they treat loans converted to equity.

 

[Manc in London]

So these costs definitely can’t be excluded? Can’t believe the rags Chelsea and Barca wouldn’t have been given the heads up by uefa when they all clearly need hundreds of millions spending on their stadia ! Or are the likes of Gill not complicit in the ffp strategy designed to Cath the likes of us out?

Or maybe this was a move to annoy some of the SL breakaway clubs.

 

[Lord Blue]

It was less stressful back then when we expected to lose and winning was a pleasant bonus.

just scoring a goal was a pleasant bonus. Or not getting squished in the kippax.

 

[Lord Blue]

Because it was agreed to donate that amount to Ukraine that’s how they got around it I believe..

i think thats about the only acceptable answer

 

[pardoeofftomexico]

Surely, if the loans are really forgiven, then the amount forgiven is income to Chelsea from the accounting, and fiscal, point of view, so I would imagine HMRC do have an interest.

But, I suspect people are bandying around words like "forgiven" as an easy way of saying Abramovic didn't need the loan money repaying to him. Doesn't mean he won't get value in any purchase price, though. I doubt there will ever be any real clarity.

In any case, it's funny that the PL were so concerned about Mansour investing in City that they have tied themselves up in knots with how they treat loans converted to equity.

re HMRC: No, it is not trading income

 

[JGL07]

just scoring a goal was a pleasant bonus. Or not getting squished in the kippax.

It certainly would have been a pleasant surprise in Pearce’s last half season!

 

[MillionMilesAway]

Surely, if the loans are really forgiven, then the amount forgiven is income to Chelsea from the accounting, and fiscal, point of view, so I would imagine HMRC do have an interest.

But, I suspect people are bandying around words like "forgiven" as an easy way of saying Abramovic didn't need the loan money repaying to him. Doesn't mean he won't get value in any purchase price, though. I doubt there will ever be any real clarity.

In any case, it's funny that the PL were so concerned about Mansour investing in City that they have tied themselves up in knots with how they treat loans converted to equity.

It's already been accounted for on the books as 'income' as far as FFP is concerned - it makes no difference to FFP accounts whether it's a loan or equity.

A lot of Chelsea's debt is that much is from well before FFP. It also counts the costs of rebuilding/building which will be a significant wedge of it.

 

[khoitnm]

And we could call it something like 'Super League'

Yeah, I don't mind whatever it's called. As long as it's a good thing for football in general, then be it.

 

[Oyster28catcher]

So, iss there no future for FFP (Financial Fair Play)? All about the for FS (Financial Sustainability)? For FS? Clubs are expected to go to court and CAS and say that they did something "for FS". Like it.