PL charge City for alleged breaches of financial rules

[spinney]

Really, it's time to bite the bullet on financial rules, scrap the whole lot and start again with things that are important to sustainability: proactive loan management, proactive funding of losses and ownership of grounds, for example. Increased competition in two to three years. The top clubs have to meet UEFA FFP anyway.

Eeexakerlee !

 

[Ste68]

Or how about having financial rules but ones that actually protect clubs properly, which would include monitoring debt and understanding how these debts, short or long term, will be managed.

Because that issue forced Portsmouth into administration, nearly forced us into administration and killed Bury completely. In all those cases, the current regulations were, or would have been, totally ineffective in preventing that.

I conker

 

[old blue]

I conker

Thanks William. :-)

 

[denislawsbackheel]

I conker

Not that old chestnut

 

[Ric]

I only skim read it but I think it was saying that the new law comes into effect on January 1st. Not necessarily that any legal proceedings will start then.

 

[StillBluessinceHydeRoad]

Really, it's time to bite the bullet on financial rules, scrap the whole lot and start again with things that are important to sustainability: proactive loan management, proactive funding of losses and ownership of grounds, for example. Increased competition in two to three years. The top clubs have to meet UEFA FFP anyway.

This must seem eminent good sense to most City fans but unfortunately cost control measures will not be agreed on here but in the much less dispassionate atmosphere of PL meetings and votes. The sad fact is that not all PL clubs agree on what is important to sustainability or even on which club's sustainability is important. I believe several clubs don't even see why they can't simply re-enact the old rules! They are unlikely to vote to recognise low or no interest loans as ATP's. Then there is the PL which seems quite happy abusing its dominant position and has hardly been a shining example of an even handed governing body.

But the real nightmare scenario might grow out of your last sentence - "the top clubs have to meet UEFA FFP anyway". Let us suppose that rules which satisfy the requirements of the PL and our laws are introduced. We are then to assume that these meet the requirements of UEFA's FFP and that UEFA's FFP meets the requirements of EU competition law, which is identical to ours. This is at least open to doubt and the road could be open to years of legal wrangling, to the detriment of the game on a continental scale.

I agree with your sentiments, but "biting the bullet" doesn't seem tickle the taste buds of many clubs, the PL or UEFA.

 

[StillBluessinceHydeRoad]

How about just scrapping any financial rules and just operate an open market like in all walks of business.

It didn't suit the cartel a decade ago, it doesn't suit them now and they form an influential group of votes in the PL.

 

[Colin Bells Boots]

The Who and Won't Get Fooled Again just came on my Spotify and I pissed my self as I immediately thought of those daft fuckers !

 

[halfcenturyup]

This must seem eminent good sense to most City fans but unfortunately cost control measures will not be agreed on here but in the much less dispassionate atmosphere of PL meetings and votes. The sad fact is that not all PL clubs agree on what is important to sustainability or even on which club's sustainability is important. I believe several clubs don't even see why they can't simply re-enact the old rules! They are unlikely to vote to recognise low or no interest loans as ATP's. Then there is the PL which seems quite happy abusing its dominant position and has hardly been a shining example of an even handed governing body.

But the real nightmare scenario might grow out of your last sentence - "the top clubs have to meet UEFA FFP anyway". Let us suppose that rules which satisfy the requirements of the PL and our laws are introduced. We are then to assume that these meet the requirements of UEFA's FFP and that UEFA's FFP meets the requirements of EU competition law, which is identical to ours. This is at least open to doubt and the road could be open to years of legal wrangling, to the detriment of the game on a continental scale.

I agree with your sentiments, but "biting the bullet" doesn't seem tickle the taste buds of many clubs, the PL or UEFA.

That's why the PL needs a CEO that only puts up votes that are for the benefit of the game and why the IR should make sure that happens.

Let's face it, the current PSR and APT rules are unlawful and unenforceable and so there currently is no PSR and APT. A strong CEO could start fresh and achieve something really good, especially if there is a block of seven clubs controlling what the cartel is up to.

 

[StillBluessinceHydeRoad]

The only financial rules should be concerning debt

Debt is permitted as a means of raising capital for investment in all sectors of the economy. It may run into difficulties if it were part of a series of regulations to guarantee sustainability, but "the cartel" would certainly vote against any restrictions on debt. That in turn may lead to action from clubs who would question why debt was allowed but owner investment was limited quite severely. So, difficulty passing the rules and legal wrangles if they did get passed. The problem is that nearly everyone sees the need for regulation but none can agree on those measures which are required.