PL charge City for alleged breaches of financial rules

chris85mcfc said:
I don't even think Jordan is stupid enough to think there could ever be another Enron scandal, purely due to the regulations (Sarbanes-Oxley) that were brought in, to prevent something like this happening again in the future.

To think a global institution as big as CFG, would be trying their luck, is literally one of the stupidest comparisons I've ever heard, and it makes it worse coming from someone I thought was highly experienced and educated.

You just don't get level headed discussions on that show, which is why Stefan brought a breath of fresh air to it, albeit it only for half an hour.
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SOX is only for American companies or those that operate in America. An Enron could happen, but it would need to be a large company that didn't operate in USA. Besides there are plenty of other ways for companies and their external auditors to mess it all up.
 
Mostly click bait headlines from Reach. Nothing new there. They start with relegation in the headline and end with how hard it would be to prove and placate that many people inside and outside the club of being dishonest.

The headlines should read more accurately as. City could face relegation, but PL on shakey ground
 
PSmyth07 said:
Not being naive though but where does it say relegation is the outcome? I thought it was just hyperbole from other fans/media as there were 115 charges? If they condensed them in to the 5 or 6 categories of charges, would relegation ever have been mentioned?

If the verdict does go against us I strongly doubt relegation would loom
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We are talking about fraud and deception on an industrial scale.
If the charges are proven, relegation would be the least of our worries. Some people could even face prosecution and others banned from football for life.
That's why Stefan added that he believes that City will be cleared because it is almost impossible to prove such cases.
 
Prestwich_Blue said:
Just settling down for the evening, happened to glance at the MEN and saw this: https://www.manchestereveningnews.c...all-news/gary-neville-makes-man-city-28466761

To spare you reading this pile of drivel, in stark contrast to Stefan, those three titans of football finance - Gary Neville, Jamie Carragher and Ian Wright - talk about our case on a podcast.

Neville opines that it's imperative for the PL to bring forward their case against us as soon as possible. I'll come back to him in a minute.

Wright (and I've got a lot of time for Wright when I forget that he was behind the furore that saw Garry Cook resign) also felt that the club owed it to the players and fans to clear their name. Carragher's comment was that we should be looking to fix this straight away and that our continued effort to drag it out made it worse.

Zero awareness about the seriousness of the charges, the need to get it right and no recognition that it's the PL who've spent 4 years, soon to be 5, dragging this investigation out. not us.

Back to Neville now. To his credit, he's against FFP and thinks wealthy owners should be able to spend money on their clubs, but if you were a cynic you could put that down to him having one eye on the millions in Salford City's bank account he can't spend due to the EFL's version of FFP.

He also understands it's a lot more complex, bless him, but is annoyed that Masters has said they've set a date but won't say when. He assumes that means it's a way off and that's not good (at least in his eyes). Again he clearly doesn't understand the PL rule about confidentiality.

Then he talks about our offences, offering his opinion that it's about when we moved some staff and functions out of City and into separate companies. There's never been any suggestion that's part of the charges, and he clearly doesn't understand that CFM and CFS (assuming those are the companies he's referring to) cross-charged their services to the CFG clubs. So we certainly reduced wages, but also increased operating expenses. In addition, UEFA changed FFP rule to bring any such companies within City's 'reporting perimeter' (which may not have been fair if they're providing services and being paid by clubs like NYCFC, who are outside UEFA's 'perimeter'.

He also talked about Mancini's contract, although he admitted that he wasn't sure about the details, believing he was being paid in the Middle East (not the Gulf, which would have been correct) for personal appearances

And people listen to this ill-informed, or just plain wrong, nonsense and treat it as gospel. It's like asking Lord Pannick, or one of his eminent colleagues, to coach Kevin de Bruyne, or getting an accountant to tell Lewis Hamilton where his driving was going wrong.
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Gary Neville is on the same level as Simon Jordan. An absolute know nowt, who actually believes his opinion carries weight, credibility and merit. Both have an ego as big as their mouths but only speak absolute utter bollocks on subjects they have no knowledge, understanding or experience of at all. He’s a complete and total ****.
 
PPT said:
Gary Neville is on the same level as Simon Jordan. An absolute know nowt, who actually believes his opinion carries weight, credibility and merit. Both have an ego as big as their mouths but only speak absolute utter bollocks on subjects they have no knowledge, understanding or experience of at all. He’s a complete and total ****.
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Reading between the lines, I'm guessing you might not be a fan of Gary's?
 
Blue Pete said:
SOX is only for American companies or those that operate in America. An Enron could happen, but it would need to be a large company that didn't operate in USA. Besides there are plenty of other ways for companies and their external auditors to mess it all up.
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There's a UK version of Sox now mate, albeit it wasn't really in place to the degree it is now, 10+ years ago.

I'd also imagine a club as multi national as ours, tries to adhere to as many national corporate governance regulations as reasonably possible.
 
cheekybids said:
I think he believed it. I think it really dawned on him at the end of Stefan’s reasoning…… I think many will have finally seen it & thought wtf have we done. I think the Athletic has finally realised it & that’s why the last week there has been a shift from them.

Maybe the simple question of ‘what is different between Everton & City’s case’ has made a few realise.
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a change of rules in offing so media now starting to point out flaws and how much betterer the new system will be for mardarses
 
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