PL charge City for alleged breaches of financial rules

[GaudinoMotors]

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No inveigling you Jim.

 

[Keeper!]

He seems to have become a lot smarter about a lot of things since @slbsn has been going on Talksport, despite his pathetic growling. Maybe there is some hope for him after all.

Disagree he openly mocks Stefan.

 

[Keeper!]

Amazing their own fans can see though this madness yet Simon thinks it's a good business model.

 

[halfcenturyup]

You're right and I already knew that. Doh. The employees (or most of them) at one of the spun-off companies came back onto City's books. In my defence, it was late when I posted that.

Oh :). I didn't know that. But it probably makes sense that all those 2013 arrangements were unwound at the same time? Iirc, it ties into the year when Fordham's accounts become dormant, I think?

 

[BerkshireBlue]

Update to the Fordham issue: There was something at the back of my mind about this so I went back to check something.

Our wage bill increased by over 30% for no apparent reason from 2016 to 2017. I couldn't understand or explain this at the time, as we'd won nothing in Pep's first season, so it couldn't be performance related, but I'd take a guess that this was the Fordham payments going onto the club wage bill. That doesn't necessarily mean they weren't declared to UEFA though.

The increase was aboit £65m from 2016's £197m, so around a third, which suggests all the Fordham payments from 2013 onwards were accumulated for that increase, as about £12-13m per annum seemed to be going through Fordham.

That means Fordham was not an issue after the 2016 financial year.

The Fordham thing for me will be or should be time barred anyway. Surely the Premier League knew of it way before 2018 (UEFA certainly did) and it's not a fraud situation it's a proper business transaction method. So we'd only need to show they knew about it and then the statute of limitations apply.

 

[Churchlawtonblue]

Disagree he openly mocks Stefan.

He interupts him, but I dont think hes bright enough to mock Stefan in a credible way, as Stefans understanding of football finance and governance is clearly much greater than Jordans.

 

[halfcenturyup]

Disagree he openly mocks Stefan.

Of course he does. He isn't going to acknowledge someone more knowledgeable than he is. Doesn't mean he doesn't listen and take on board what is said. Most of all be wants to be right in the end, no matter how he gets there. Then he can say "I have been saying this all along".

 

[bobbyowenquiff]

Despite one or two on this forum saying he was actually quite smart, he's always come across as limited in his understanding of many things to me and this backtracking just substantiated that. Throwing in a few big words ala Joey Barton does not make a person intelligent.

He’s a classic bluffer.

 

[jimharri]

No inveigling you Jim.

You're on a roll* this morning.



*Other bread products are available.

 

[halfcenturyup]

The Fordham thing for me will be or should be time barred anyway. Surely the Premier League knew of it way before 2018 (UEFA certainly did) and it's not a fraud situation it's a proper business transaction method. So we'd only need to show they knew about it and then the statute of limitations apply.

I don't think we know enough about the Fordham contracts and how they were fulfilled and paid and accounted for or any other clauses like the underwriting, or about Touré and how his contracts were accounted for, to be able to come to a conclusion on the image rights. We will have yo wait for the findings of the panel, I think.

One thing of which I am certain: these issues will have no effect on the true and fair view given by the accounts (which is all I care about, really) because the numbers just aren't material enough, but there may be some issues around disclosure to the PL. We really can't say based on the little we know, I think.