PL charge City for alleged breaches of financial rules

Prestwich_Blue said:
Yes, I'd say that was the case. It was the same for us after we moved to the Etihad in 2003. We borrowed long to finance short-term expenditure, then Wardle & Makin had to pump in a few million a year. We had to sell SWP to raise cash, when Wardle declined to put any more in.

That charlatan Mackintosh used to say "our debts are manageable" but we couldn't cover the interest out of our profits (we made small losses before interest) let alone the capital that we we due to start paying,

Shinawatra nearly put us into administration when we couldn't meet the second instalment on Sven's transfer dealings. It seems they're going the same way.
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Although the Glaziers want 6bn would this leave the rags vulnerable to a Hicks & Gillet Lfc situation where the banks were forcing bankruptcy & FSG got them on the cheap
 
I’m delighted for them, as Arsehole Wenger said, theirs is a better business model than City’s.
He was proved to be correct.
Or maybe not.
 
Prestwich_Blue said:
Over the 6 months to December their gross finance costs were £22m. Their Operating Loss (before Finance Costs) was £6.2m.They can't even cover a penny of their finance costs from profits.

They claim their debt is "manageable" but adapting your example, in their case the bloke is earning £87k, spending £90k, plus he's paying about £10k interest alone on his debts. It's the end of their third quarter today. I suspect they'll be searching down the back of any couches. They didn't hold an investor call for those half-year results.

The reason is almost certainly that they'd have to report that they're fucking skint.
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My man.
 
Prestwich_Blue said:
Over the 6 months to December their gross finance costs were £22m. Their Operating Loss (before Finance Costs) was £6.2m.They can't even cover a penny of their finance costs from profits.

They claim their debt is "manageable" but adapting your example, in their case the bloke is earning £87k, spending £90k, plus he's paying about £10k interest alone on his debts. It's the end of their third quarter today. I suspect they'll be searching down the back of any couches. They didn't hold an investor call for those half-year results.

The reason is almost certainly that they'd have to report that they're fucking skint.
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Why are they not being investigated? Why don’t City write one of the “infamous letters to the PL” insisting they are investigated in the same way as we have been. Give them something to get their teeth into for another 4 years!
The fact that nothing happens to the rags makes me think we’re going to be found guilty by PL simply because they want that outcome.
 
CC1 said:
Why are they not being investigated? Why don’t City write one of the “infamous letters to the PL” insisting they are investigated in the same way as we have been. Give them something to get their teeth into for another 4 years!
The fact that nothing happens to the rags makes me think we’re going to be found guilty by PL simply because they want that outcome.
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Can’t stand the kunts but, What have they done wrong?


We only being investigated because of the hacked emails then cas never settled it so the premier on mass instigated we get looked at at because cas didn’t do actually settle anything really!
 
CC1 said:
Why are they not being investigated? Why don’t City write one of the “infamous letters to the PL” insisting they are investigated in the same way as we have been. Give them something to get their teeth into for another 4 years!
The fact that nothing happens to the rags makes me think we’re going to be found guilty by PL simply because they want that outcome.
Click to expand...
This is a point I've made numerous times about FFP. Who cares that a club made a £100m profit three years ago but reported losses of £40m then £60m in the next two years? According to FFP, that club have broken even despite the fact that alarm bells should be ringing furiously.

If FFP had been in place in 2008, we'd have passed it, despite the fact we didn't have the cash to pay for the transfers we'd done the previous summer. That damn nearly sent us into administration. What fucking use is FFP in that case?

Despite having decent revenue, united have burned through over £60m cash in 3 months just from operations, before paying a penny for transfers. Whereas we've probably generated around £100m. They've had to borrow a furhter £100m and may well have borrowed a lot more in the last three months. The PL should be doing what La Liga did to Barca, going over their books with a fine-tooth comb and forcing them to reduce their outgoings.

It's quite possible that the Glazers are in panic mode, as they don't have the cash to support them and the borrowed money is running out. Of course they want a quick sale. The club is a financial basket case.

Rather than a banner showing how long it is since they won the league, perhaps we should get one we could adjust every three months (when they publish accounts) that shows their debt. It'll need to be a big one though.
 
waspish said:
Can’t stand the kunts but, What have they done wrong?


We only being investigated because of the hacked emails then cas never settled it so the premier on mass instigated we get looked at at because cas didn’t do actually settle anything really!
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The 115 charges are not just as a result of hacked emails. I’m sure if they were able to examine the rags’ accounts in the same way as they have ours - they really would find REAL evidence of false accounting
 
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