PL charge City for alleged breaches of financial rules

[jaiguruKun]

Isn't that just because nobody can put any sort of figure on potential liabilities at this stage? IE there's no way of knowing what sort of fine or liability we'd hold should the allegations be upheld. If it was a straight case of " if you've breached rule X, Y or Z then that's a £100m fine" they'd be there?

Asking because you and others know more about this stuff than me.

There was no way of knowing in previous years but the case was always mentioned in the annual accounts.

 

[John Wayne]

That's more interesting than anything else.

The club is required to disclose, and the auditors are required to check, if there are any contingent liabilities unless the possibility of them crystallising is remote. If they are possible they should be noted. If they are probable, they should be provided for.

The fact the club doesn't mention the allegations at all, and the auditors are presumably happy with that, means they all think they are bullshit.

I'm not sure it's about the club thinking they are 'bullshit'. The club thought they were bullshit at the time of last year's report but nevertheless referenced them. It's about the likelihood of the charges carrying any significant penalties. It makes you wonder what has changed between 22-23 and 23-24. For all of the column inches about 115, nobody outside of the proceedings knows anymore than they did it on 6th February 2023.

 

[Ballosteve]

Morning stefan,have talk shite invited you on to discuss these results ?

 

[dadnlad]

So what does this mean to me .
Expect season ticket price increase

 

[halfcenturyup]

So, does the club know something about the verdict, having not made reference to possible financial impact of the 115/130 charges?

No. But it means the directors, and the auditors, consider any financial impact, or any impact likely to affect the club's continuation, to be unlikely.

Iirc my accounting correctly.

 

[halfcenturyup]

We’ve not been cautious we’ve made sporting & business decisions based on the same metrics we have done for years. Since 2008 we’ve continually invested in the infrastructure of the club to grow & make the club sustainable & currently close to a $300m extension.

For the last 10 years we’ve been attacked for 1 reason only, we are an incredible outfit. Our owners have told us we have nothing to worry about. We were banned for 2 years from the Champions league & CAS found no evidence of wrong doing & UEFA had broken their own rules to ban us. Yet after all that the premier league who have been found to treat us unlawfully, unfairly & unreasonably have conjured up 130 charges which Khaldoon has told us is bollocks & judging on the last 2 times we’ve been in front of panels it’s under control.

We’ve been hit by a perfect storm of injuries nothing else.

Pep likes a small squad & let’s anyone (except Bernardo) go as soon as they bring a valuation to the club whether they are seasoned professionals or prospects. That system has worked perfectly, our style of football, happy camp has allowed us to win trophy’s at a rate never seen n England. We’ve had injuries in crucial areas but this season it took our spine.

So everything we have done in the past that has worked for us is being blamed or questioned at this moment.

We even gave the English Spanish players a month off to rest up & we were top of the league. An inform Kovacic allowed Rodri to rest. Lewis showed he was ready to take Walkers spot & Oscar Bobb was looking world class. KDB would play less like year before but Foden current player of the year can take over.

There was no reason to worry but now with hindsight fans are saying we must be worried about relegation as we needed 3 world class 6’s, should have signed 2 centre half’s & fucked off Stones & Ake, said no to Alvarez the player that fans started slagging off last year.

Stay cool like Khaldoon.

What he said.

 

[Bluewonder]

Isn't that just because nobody can put any sort of figure on potential liabilities at this stage? IE there's no way of knowing what sort of fine or liability we'd hold should the allegations be upheld. If it was a straight case of " if you've breached rule X, Y or Z then that's a £100m fine" they'd be there?

Asking because you and others know more about this stuff than me.

No, not quite.

If the value of any liability was known and probable it would be a provision.

If the value of any liability was unknown, but it was probable there would be a cost, it would be a contingent liability.

 

[halfcenturyup]

I’d guess not seeing as it’s been mentioned in previous accounts

Last year it was mentioned in Going Concern and commitments, which are two strange places. This year it would have been at least disclosed in contingent liabilities if management thought the chance of a financial sanction was anything other than unlikely. It hasn't been, so we can assume management, directors and auditors consider such a sanction unlikely.

 

[halfcenturyup]

I'm not sure it's about the club thinking they are 'bullshit'. The club thought they were bullshit at the time of last year's report but nevertheless referenced them. It's about the likelihood of the charges carrying any significant penalties. It makes you wonder what has changed between 22-23 and 23-24. For all of the column inches about 115, nobody outside of the proceedings knows anymore than they did it on 6th February 2023.

I was saying that last week, but now we have proof that the management, directors and auditors consider the chance of a financial penalty unlikely and that the whole case is no longer worthy of mention. That's quite a big change.

Everyone wanted more communication from the club. This seems quite important to me, especially at this time.

 

[Colin Bells Boots]

That's more interesting than anything else.

The club is required to disclose, and the auditors are required to check, if there are any contingent liabilities unless the possibility of them crystallising is remote. If they are possible they should be noted. If they are probable, they should be provided for.

The fact the club doesn't mention the allegations at all, and the auditors are presumably happy with that, means they all think they are bullshit.

Liked the post purely because it gives me reassurance that Masters and the cabal have failed miserably :)