Keith Moon
Well-Known Member
Arsenal did the same thing with Emirates when they went short of cash, got 100% of the first Emirates deal upfront.
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PL charge City for alleged breaches of financial rules
- Thread starter ayrshire_blue
- Start date
With regards to the Etihad sponsorship being "friendly", I'm sure that quite early in this thread @Prestwich_Blue has said that in one particular year (think it was the termination of Mancini's contract) that City asked for some of the following year's money
It all worked out as the agreed amount over the period of the sponsorship, but City received something like £80m one season and a reduced amount the next
Having a friendly deals with sponsors is not a crime anyway.
I remember talk years ago about adidas or Nike (can’t remember who at the time) helping United fund buying Ronaldo back.
Based on it being a win/win, Etihad having a 10 year sponsor deal to get maximum value front loading made sense.
As did a drip fund so to speak
IIRC during the podcast when harris was talking about the etihad deal, he eluded to as you point out about the irregular amounts being that the deal was increasing with several new deals being signed off and he questioned the fair market value aspect of it, however, @slbsn seemed to agree that this was the case and argue with him it is very difficult to determine fair market value. Stefan didn't appear to correct him with what you are stating here.That wasn't specifically set out in black and white iirc but even if not, it's a pretty safe assumption. In their submission to CAS, City talked about the 'accruals basis' of accounting, which is separate to the cash payments. That means if Etihad contract to pay us £60m a year over 10 years, we'll record £60m a year in the accounts, regardless of whether the cashflow is £60m a year.
If Etihad paid us £200m in year one, we'd still show that as £60m revenue, with £140m as deferred revenue. If they paid us nothing the following year, we'd again show £60m revenue, but with deferred revenue of £80m.
So when Harris was going on about us under-declaring the Etihad revenue, when he added up three years cash receipts and divided by three, he clearly had no idea about accruals accounting. The timing of the cashflow is irrelevant.
I may be wrong and would gladly stand corrected.
Gone for a Burton
Well-Known Member
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Masters is nothing more than a shiny suited consultant, who's training at Boston,McKinsey etc included not having an opinion an anything, and blowing in the wind like a paper kite.They must have spoken to all the candidates who turned the job down. Some of them may have spoken. Dinnage may have signed an NDA. I suspect the recruitment process for Masters goes to the heart of this whole saga. City must have checked this out.
I've met many of them over many years, most of whom couldn't run a bath.
Masters would've fitted the cartels 'Masters Master Plan' perfectly.
The weak, pasty faced jellyturd has been rope a doped from day one and won't survive irrespective of the outcome of the case.
If the previous applicants/appointee were subpoenad to appear in front of the new IR & Commons Committee for Sport under oath, the revelations could be very damaging to the integrity of some of our 'rivals'.
Could an appropriately worded and timed mail to a friendly MP start the process.
Over to you intellectuals !!
Elbow beards
Well-Known Member
Fuck me, you need a PhD in accountancy and corporate fraud to be a City fan now. My head hurts.
journolud
Well-Known Member
The opposite, you should need those things before doing a shallow dive into the charges or otherwise referencing them. I’m happy just to trust the process. And the clever chaps on here who explain it for those open to that.
That can’t be right as they are planning an IPO for which an authentic audit is necessary.They do now but that is only based upon what is released. They only started to release their accounts in recent years in response to US pressure on anti-competition grounds, none of them are audited properly.
Scruffy Jim says “ We can do dodgy stuff for ever, cos we are Yoonited.”Todd Boehly & Scruffy Jim say hi & we’re doing our dodgy stuff early ;)
The independent regulator says “Not so fast, Scruffy.”
City are planning to take half the season off and just do paperwork. Accruals accounting will give us plenty of points to win the PL again. The PL will give us 30 of next season’s points.Fuck me, you need a PhD in accountancy and corporate fraud to be a City fan now. My head hurts.