PL charge City for alleged breaches of financial rules

[tweety]

Just bin ffp, football managed quite well in the previous 120 years. Brought in to hobble any new investment that threatened the G14.

 

[bobbyowenquiff]

Didn’t know where to put this. But FFP changing with the wind in Europe.

I’d joke that they’ll come after us for inflating the Sterling fee if I didn’t think they might..

UEFA to introduce emergency rule blocking clubs from inflating transfer fees

The governing body's executive committee are set to vote on amendments to financial fair play rules during meeting next week and reports suggests a new proposal in wake of Juventus scandal could see an end to clubs selling players for more than the market says they are worth

www.mirror.co.uk

Hilarious quote from Ceferin saying: "We can't have just five teams winning the Champions League all the time." But eight out of the last 12 seasons it has been won by the same three teams: Real Madrid, Barca, and Bayern. It is only the arrival of Chelsea and now City which has broken the monopoly. He must think fans are bloody stupid but don't expect anyone in the media to challenge him on his bogus claims.

 

[danielwood5]

White and Jordan discussing interview on TS now

Their opinion and intellectual insight is as much use as Bert and Ernie but not as entertaining.

 

[cheekybids]

Relax. PB was talking hypothetically.

Afaik, nobody is questioning the value of the sponsorships. And the club proved to CAS that ADUG didn't pay any money to Etihad.

(You can stop reading here if you like)

But, if you have a moment, just consider what the PL is suggesting. They are saying Etihad entered into a sponsorship agreement at fair value but could only pay 8 milion of it and had to get funds from ADUG for the other 60 million. This is the Etihad that is funded by the government of Abu Dhabi, not known to be short of cash, and that funded losses at that time of a billion a year. They would make that arrangement for 60 million? It doesn't make any sense to me, no matter what evidence they think they have.

Add to that my opinion, that, assuming we accept the sponsorship was at fair value, the accounts give a true and fair view just as they are, then even that doesn't really matter. For reference, the club's accounts don't have to be either accurate (no accounts are accurate, they all have things wrong with them), or give a true and fair view of the club's financial position for PL purposes. They have to give a true and fair view to any "normal" reader of the accounts, say someone potentially trying to invest in the club. To that reader of the accounts, showing a fair value sponsorship as equity would actually distort the view given by the accounts, because they wouldn't show the true potential for income generation. Even if Mansour, in my opinion, delivered bags of cash over to Etihad himself on the backseat of his Maserati. Because it is the fair value of the contract and the fact the contract was fulfilled by both parties that determines the true and fair accounting treatment, not how it was funded. The PL may want a different treatment for their purposes, but the accounts, imho, are fine just as they are.

It’s down to the racist view that “Arabs” are all the same.

Sheik Mansour can’t have a personal investment….

Etihad, Emirates & Qatar airlines were being accused by US airlines of being subsidised by state funding, no idea what’s wrong with that apart from disadvantaging US airlines. However, which is it?

 

[Gorton_Tubster]

It’s down to the racist view that “Arabs” are all the same.

Sheik Mansour can’t have a personal investment….

Etihad, Emirates & Qatar airlines were being accused by US airlines of being subsidised by state funding, no idea what’s wrong with that apart from disadvantaging US airlines. However, which is it?

Newcastle, City, Everton, all under serious investigations, all Middle Eastern owners.

 

[SebastianBlue]

Didn’t know where to put this. But FFP changing with the wind in Europe.

I’d joke that they’ll come after us for inflating the Sterling fee if I didn’t think they might..

UEFA to introduce emergency rule blocking clubs from inflating transfer fees

The governing body's executive committee are set to vote on amendments to financial fair play rules during meeting next week and reports suggests a new proposal in wake of Juventus scandal could see an end to clubs selling players for more than the market says they are worth

www.mirror.co.uk

Any such rules will be almost immediately struck down in the EU and UK for many reasons, but the most basic is determining “fair market value” for any given player at any given time—ignoring the basic principle that they are worth whatever entities are willing to pay to get their registration rights—is a ludicrously complex, inaccurate, and easily manipulated process.

It is a non-starter from a trade practices and freedoms perspective, especially after recent rulings concerning fair market sponsorship assessments.

This is the last desperate act before FFP is challenged en masse and scrapped altogether. It is a bone being thrown to teams to try to avoid a resurgence of momentum toward a Super League.

Ironically, it will just hasten it.

 

[Txiki Txiki Bang Bang]

Hilarious quote from Ceferin saying: "We can't have just five teams winning the Champions League all the time." But eight out of the last 12 seasons it has been won by the same three teams: Real Madrid, Barca, and Bayern. It is only the arrival of Chelsea and now City which has broken the monopoly. He must think fans are bloody stupid but don't expect anyone in the media to challenge him on his bogus claims.

I think Martin Samuel might have something to say about this.

 

[Damocles]

https://www.gov.uk/government/news/uae-to-invest-10-billion-in-priority-uk-industries

"Dear Mr Sunak,

Can you please explain why your nationally funded footballing body is accusing my brother and Vice President of being a fraudulent crook and liar? Is this the price of investment into your country?

Regards,
Sheikh Mohammed bin Zayed Al Nahyan
President of the UAE

Cc: Khaldoon Al Mubarak
CEO Mubadala Investment Company
Chairman City Football Group"

 

[Manx Blue]

Their opinion and intellectual insight is as much use as Bert and Ernie but not as entertaining.

Stadtler and Waldorf or however you spell their names

 

[Tracking back]

Do you mean Persil?

I said it was a household name.

I didn't say I could spell it. ;-)