PL charge City for alleged breaches of financial rules

[dickie davies]

It's not looking good for us so don't build your hopes up.

Is this the same spiv who said last week City wasn't offering any defence of 51 of the charges?

 

[Gaz (FMwkdsoul)]

Is this the same spiv who said last week City wasn't offering any defence of 51 of the charges?

yep

 

[bridgeno1]

But they give no details on repayment or interest, unless I missed it, which is unusual no?

Here's what they've been paying in interest vs what BOE base rates were at the time. Note the loan was given as a way of refinancing existing debt for the stadium as opposed to being used to buy players.

I'd say any independent auditor may query why the interest % paid in 2022-23 was lower vs previous periods when the BOE base rate was higher TBH. I doubt Arsenal were offered a 0% balance transfer deal on their credit card.

 

[halfcenturyup]

Here's what they've been paying in interest vs what BOE base rates were at the time. Note the loan was given as a way of refinancing existing debt for the stadium as opposed to being used to buy players.

I'd say any independent auditor may query why the interest % paid in 2022-23 was lower vs previous periods when the BOE base rate was higher TBH.

View attachment 134521

That's interesting, but I meant in the actual accounts. Back when I was an accountant, that was a requirement, iirc.

 

[bridgeno1]

That's interesting, but I meant in the actual accounts. Back when I was an accountant, that was a requirement, iirc.

Yeah fair enough. I don't know unless it's buried in with all the other costs of finance figures and is presented as a single overall cost in the P&L.

 

[BerkshireBlue]

I haven't had much free time recently but I had a quick look at Brighton & Arsenal's accounts. Brighton declare Bloom's loans as an RPT but the Arsenal accounts I looked at don't. I think there's a holding company accounts I didn't look at so I'll do that tonight.

But if Arsenal aren't declaring owner loans as an RPT then surely they're not submitting accurate accounts, which is what we've been charged with, and where the charges specifically mention related parties.

great work

 

[bridgeno1]

We could end up in a doomsday scenario where City get done on the 115 and get points deducted, Arsenal and Liverpool get done for Shareholder loans and likewise get points taken off, Villa, Spurs, Newcastle etc get done for not properly accounting for commercial revenues and also get a points deduction and the Rags end up winning the PL by default!

#Sireriktenhag

 

[Colin Bells Boots]

Yeah fair enough. I don't know unless it's buried in with all the other costs of finance figures and is presented as a single overall cost in the P&L.

A problem highlighted perhaps with so much " buried " deep within, being the " supposed purpose " for the instigation for the charges.

Perhaps certain , more favoured clubs, have more to conceal than the party actually being villified as being the criminal.

Football management is clearly a very secretive and questionable business for some.

Allies ready to assist in the process become very valuable assets - again with figures not shown within the company accounts.

But hey what do I know as a supporter ?

 

[BerkshireBlue]

I believe Arsenal have £248m in shareholder loans, of which £62.5m are submitted annually as part of PSR calculations.

and what was the interest charged to Asrenal on that £248m

 

[BerkshireBlue]

We could end up in a doomsday scenario where City get done on the 115 and get points deducted, Arsenal and Liverpool get done for Shareholder loans and likewise get points taken off, Villa, Spurs, Newcastle etc get done for not properly accounting for commercial revenues and also get a points deduction and the Rags end up winning the PL by default!

#Sireriktenhag

only by the PL allowing their financial cheating as well remember