PL charge City for alleged breaches of financial rules

Prestwich_Blue said:
Great post. There's Etisalat as well, but CAS dealt with that even though it was time-barred. And even UEFA were ok with that once Etisalat had reimbursed ADUG. So as you say, there's absolutely no mileage there.
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Is this possibly where they can get us,?UEFA where OK with it but did we not tell the Premier League, from the uneducated it does look like us paying our own sponsorship which the dodgy Piers Morgan montage threw up.
 
pauls said:
Is this possibly where they can get us,?UEFA where OK with it but did we not tell the Premier League, from the uneducated it does look like us paying our own sponsorship which the dodgy Piers Morgan montage threw up.
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We didn't have to tell the PL anything, other than submit our audited accounts, which CAS said were correct and the sponsorship was properly funded and fair value.
 
pauls said:
Is this possibly where they can get us,?UEFA where OK with it but did we not tell the Premier League, from the uneducated it does look like us paying our own sponsorship which the dodgy Piers Morgan montage threw up.
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I think you misunderstand what happened. It was all set out in the CAS award: the club signed a sponsorship at fair value with Etisalat, services were provided in full but for a two year period payments from Etisalat were held up by finalisation of a new contract. During that period, services were provided under a legally binding heads of agreement, invoices were properly issued and were recorded as income in the accounts.

The only tricky thing is that, iirc, the new contract stipulated that Etisalat should pay monies to ADUG and ADUG should transfer the money to the club (unclear as to why, probably UAE fiscal reasons, but a contract is a contract). For these two years, ADUG paid the money to the club in advance of the receipt of the money from Etisalat. These are the payments the idiot Morgan is talking about. At the end of the two years, once the new contract was finalised, ADUG had received the money from Etisalat.

To me, this is a big nothing burger. The sponsorship revenue was genuine, at fair value under legally binding contracts, and properly recorded in the accounts. There is nothing in this that affects the true and fair view given by the accounts. Quite the opposite. Taking the money out of revenue and putting it into equity would NOT give a true and fair view.
 
halfcenturyup said:
I think you misunderstand what happened. It was all set out in the CAS award: the club signed a sponsorship at fair value with Etisalat, services were provided in full but for a two year period payments from Etisalat were held up by finalisation of a new contract. During that period, services were provided under a legally binding heads of agreement, invoices were properly issued and were recorded as income in the accounts.

The only tricky thing is that, iirc, the new contract stipulated that Etisalat should pay monies to ADUG and ADUG should transfer the money to the club (unclear as to why, probably UAE fiscal reasons, but a contract is a contract). For these two years, ADUG paid the money to the club in advance of the receipt of the money from Etisalat. These are the payments the idiot Morgan is talking about. At the end of the two years, once the new contract was finalised, ADUG had received the money from Etisalat.

To me, this is a big nothing burger. The sponsorship revenue was genuine, at fair value under legally binding contracts, and properly recorded in the accounts. There is nothing in this that affects the true and fair view given by the accounts. Quite the opposite. Taking the money out of revenue and putting it into equity would NOT give a true and fair view.
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All covered here in this article by David Conn. City were up front about ADUG paying the money and it being reimbursed later. Not exactly the behaviour of having something to hide. Ultimately it didn't get considered by CAS due to the time-barring though so I guess we don't know for sure which way that would've gone. However, if there was any wrongdoing on the part of the club surely they would've come up with an easier get out than being so up front about it!

www.theguardian.com

Mansour's payments and a U-turn by Uefa: key Manchester City findings | David Conn

Court of arbitration for sport judgment also finds no Uefa bias and shows why an alleged FFP breach was unsubstantiated
www.theguardian.com www.theguardian.com
 
jrb said:
Probably nothing more than click-bait bullshit, but it got me clicking.

Ex-Everton chief Keith Wyness has claimed Man City have an astonishing team of 30 in-house lawyers as they fight 115 potential breaches of Premier League rules.

The 66-year-old, who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs, revealed the Toffees didn’t have a dedicated legal representative during his tenure at the club.

www.footballinsider247.com

Ex-Everton CEO blown away by what he's heard about Man City FFP case

Football Insider has been told by ex-Everton CEO Keith Wyness that Man City could have up to 30 in-house lawyers as they fight 115 potential breaches of Premier League rules.
www.footballinsider247.com www.footballinsider247.com
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I am sure our legal team works for the entire CFG. We have thousands of employees and lots of complex legal requirements. Keith Wyness won't get much work as a consultant if he continues to show such a total lack of discretion.
 
Jam Tomorrow said:
Let’s face it, deep down we know this will be a kangaroo court, our fate has already been decided. ‘The balance of probability’ is the equivalent of ‘clear and obvious’ in VAR that allows thinly veiled cheating. If the media leaks are correct nothing will happen this season, my best guess is our punishment will be handed down next season in time for any appeal to be complete by the end of next season. Make no mistake they want us out of the Premier League and have the power to do it.

sorry for the gloomy assessment but I think we have all been kidding ourselves if we think this is similar to the CAS appeal, that was truly independent, this one isn’t.
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The PL have passed it to an independent commission comprised of KC not much different that CAS

To expel City from the PL will take some extraordinary judgement and wont happen
 
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M18CTID said:
Exactly. Even if we were guilty of the Mancini stuff, I don't see how we've gained an advantage given we were making eye-watering losses at the time and the "arrangement" pre-dated FFP.

I will add that I don't believe we've done anything massively untoward on that one (or any of the others for that matter) and as I said the other week, it looks like the arrangement was not for our benefit but to help Mancini in terms of not having to pay full UK tax. If anything, it looks like one for HMRC to look at but it seems even they're of the opinion that there's nothing to see here, given that this has been in the public domain for 5 years now and there have been no stories since of the taxman turning up and kicking City's door down.
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Not widely reported in the mainstream media but our neighbours in Trafford and Newcastle United are being investigated by HMRC Both have included provisions in their accounts Remember this when City are accused of cheating

Recent examples of HMRC investigations include both Manchester United and Newcastle United, who stated in their most recent financial accounts** that they are currently subject to investigations by HMRC

Pellegrini was fined for tax avoidance

www.uhy-uk.com

Tax investigations into UK football clubs recover £125m, more than doubling the previous year’s total of £59m

Read the latest insights from UHY Hacker Young: Tax investigations into UK football clubs recover £125m, more than doubling the previous year’s total of £59m
www.uhy-uk.com www.uhy-uk.com
 
Gordyola said:
The PL have passed it to an independent commission comprised of KC not much different that CAS

To expel City from the PL will take some extraordinary judgement and wont happen
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If they can do it they will. Once the initial appeal has completed any legal action will take years.
 
M18CTID said:
Not sure if they're both linked to be honest but it would be piss funny if they were!
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Billionaires only get in trouble when they piss off richer & more powerful billionaires.

I’m sure Joe Lewis is a fucking wrongun & what’s he in trouble for? Giving love interests & friends tip offs.
 
Gordyola said:
Not widely reported in the mainstream media but our neighbours in Trafford and Newcastle United are being investigated by HMRC Both have included provisions in their accounts Remember this when City are accused of cheating

Recent examples of HMRC investigations include both Manchester United and Newcastle United, who stated in their most recent financial accounts** that they are currently subject to investigations by HMRC

Pellegrini was fined for tax avoidance

www.uhy-uk.com

Tax investigations into UK football clubs recover £125m, more than doubling the previous year’s total of £59m

Read the latest insights from UHY Hacker Young: Tax investigations into UK football clubs recover £125m, more than doubling the previous year’s total of £59m
www.uhy-uk.com www.uhy-uk.com
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United have been at it for years. They pay virtually no tax in the UK and invest virtually nothing in the Greater Manchester community. They are a despicable organisation but apparently our business model is unsuitable.

www.theguardian.com

Now Man Utd stand accused over low level of corporation tax

Club says figures for last six years do not take any deferred payment of corporation tax into account
www.theguardian.com www.theguardian.com
 
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