Man_City_Loyal
Well-Known Member
That's him ;-)
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PL charge City for alleged breaches of financial rules
- Thread starter ayrshire_blue
- Start date
That's him ;-)
Centurions
Well-Known Member
Hence the ellipsis?Todd B is the CEO of both involved
BlueAnorak
Well-Known Member
- Joined
- 31 Oct 2010
- Messages
- 27,855
They'll be fine if the other company is not a third party or they could have got better value elsewhere.they've sold the hotel to their own owners.
Sounds proper dodgy
wolviedinho
Well-Known Member
A lot of dodgy sounding deals coming out of Chelsea. It would be easy to go down the cheat road and they are fucked but due to the shit thrown city’s way with no actual evidence I am going to defer from calling them out. They may have found workable ways around ffp and related ownership.
I hope they have tbh as the whole financial thing is fucking stupid, ill thought out and badly implemented.
Football is greedy and self serving. Once you start at that point, anything is possible with these cunts who “run”the “show”.
I hope they have tbh as the whole financial thing is fucking stupid, ill thought out and badly implemented.
Football is greedy and self serving. Once you start at that point, anything is possible with these cunts who “run”the “show”.
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A lot of dodgy sounding deals coming out of Chelsea. It would be easy to go down the cheat road and they are fucked but due to the shit thrown city’s way with no actual evidence I am going to defer from calling them out. They may have found workable ways around ffp and related ownership.
I hope they have tbh as the whole financial’ thing is fucking stupid, ill thought out and badly implemented.
Football is greedy and self serving. Once you start at that point, anything is possible with these cunts who “run”the “show”.
Agree this hotel and car park sale must be fine with PSR or it wouldn't have been allowed so they found a loop hole!
I expect chelsea with there owners being pretty smart find a way to not fail PSR next season as well...
wolviedinho
Well-Known Member
Also they probably got word from the American owners what they could and could not do last season and this season. The league will hide the announcement, they won’t be getting the 115 massacre we did but only because city turned into a winning machine with pep. They could take a gatecrasher every now and again but not a new gate keeper.Agree this hotel and car park sale must be fine with PSR or it wouldn't have been allowed so they found a loop hole!
I expect chelsea with there owners being pretty smart find a way to not fail PSR next season as well...
I have no problem with the chavs doing what they have to erm to get away with it.
Also they probably got word from the American owners what they could and could not do last season and this season. The league will hide the announcement, they won’t be getting the 115 massacre we did but only because city turned into a winning machine with pep. They could take a gatecrasher every now and again but not a new gate keeper.
I have no problem with the chavs doing what they have to erm to get away with it.
I’m with you it’s ridiculous but not necessarily wrong. I liken it to Barcelona selling future revenue to satisfy financial regulations now.
I also don’t see why Chelsea owners shouldn’t be the ones to buy it if it is a profitable business (hotel/ car park).
You do come back around to fair value etc. and also ensuring the revenue from this is not somehow added back into Chelsea’s accounts.
Then you have the elephant, how the hell does this help profit and sustainability as you have just got the owners to asset strip the company (where they would have been happy to invest).
We’re going to beat this and all that’s going to be left are the teams at the bottom breaching to try and move forward and ones in the middle hitting a glass ceiling.
How do we know it’s allowed ? I thought these things happened then the premier league looked at themAgree this hotel and car park sale must be fine with PSR or it wouldn't have been allowed so they found a loop hole!
I expect chelsea with there owners being pretty smart find a way to not fail PSR next season as well...
Think it would run into issues, I can’t say for certain but there should be some market value rules with connected parties.Is there anything to stop Chelsea buying the hotel back for a quid and then selling it again the week after for 70m?
It would be very dodgy obviously but would there be anything in the rules that would actually stop it?
The more interesting question for me is what is stopping them buying it back through owner investment as development costs (which are not included in the PSR calculation.
So in theory could they buy it back for £70 million and as such then continue to be able to account for the revenue as income.
I don’t know for certain on any of this (mostly based on the fact these are ridiculous made up rules that are anti business so makes little to no sense). Be interested to know the view of the experts to see if I’m on the right track with my thinking.