PL charge City for alleged breaches of financial rules

johnny crossan said:
Premier League’s financial rules are broken, says Crystal Palace co-owner

John Textor says it makes no sense that billionaires face limits on what they can spend to improve their clubs and believes that Nottingham Forest should not be deducted points for breaking rules

Martyn Ziegler

Chief Sports Reporter

Thursday February 29 2024, 7.00pm, The Times

Textor, Palace’s largest shareholder, said that the Premier League’s financial rules make it harder for the smaller clubs in the top flight to catch up with the largest teams

Crystal Palace’s largest shareholder John Textor has criticised the Premier League’s financial rules saying they prevent smaller clubs from competing against richer rivals.

The American businessman, who owns 45 per cent of Palace, said it was “not right” for Nottingham Forest to be docked points — Forest are facing a points deduction after accepting they breached Profitability and Sustainability Rules (PSR) last season — and sympathised with the club’s owner Evangelos Marinakis.

Everton have already been docked six points and are facing another hearing for a PSR breach.

Asked about PSR, Textor said: “It’s clear that they’re built to make sure that clubs who do not drive significant revenues cannot catch up.

“It doesn’t matter if you have a billion dollars of cash in a wheelbarrow, you’re not allowed to spend it. Does that make any sense? Marinakis has plenty of money to fund his team but he’s not allowed to. If he spends too much and does what the fans want, somebody comes along and docks him points? That’s not right

“Financial Fair Play is a fraud of a term, to say it’s about sustainability. The sustainability issue is a fraudulent issue. Sustainability should be about the quality of your balance sheet, not ratios against your profit and loss. Nobody actually thinks that makes sense.

“If you have a billion pounds of cash and you’re sustainable — more sustainable than most clubs in the league — but you’re not allowed to spend this, everybody should be saying this, it doesn’t make sense.

Forest, who are owned by Marinakis, could be docked points after admitting breaking the league’s financial rules

“We have got three billionaires in our ownership group, maybe more. We’re not allowed to spend at the level of teams that are in the top six. Josh Harris has no trouble with money, he just bought an NFL team [the Washington Commanders], he owns the [Philadelphia] 76ers [basketball team]. But Steve [Parish, co-owner and chairman] is not allowed to go out and spend that kind of money, he gets docked points and sent to the second division.

“I’m just saying you cannot have a rule that says somebody who has the money is not allowed to spend it because their club isn’t big enough. Yet how do you get big ever?

Textor was speaking after addressing the FT Business of Football Summit in London, where he raised the issue of PSR, suggesting they may be anti-competitive.

He added: “I’ve got to somehow find a way to put Crystal Palace against Erling Haaland, and if you have an injury at Palace, you don’t get to pull a £15 million player off the bench, you’ve got to take someone from your academy, because you can’t afford to have that [£15 million] player on your bench. That is not sport. Is anyone really having fun with this? It’s broken.”
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He names Haaland but forgets to name City as the reason the rules were made in the first place?
 
jrb said:
The richest football league in the world is stopping the richest club owners from spending their personal money and wealth, if they want to spend it, on their teams.
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Football is the only industry which apparently doesn't want external investment. The PL is playing into the hands of people like Tebas who hates English football and wants to damage it as much as possible. It is a form of self harm.
 
hgblue said:
This is what I was on about when I said the Everton and Forest situations were good news for us. Up until now our claims about the nature and motivations behind FFP were falling on deaf ears. Rival supporters didn't really give a shit about FFP because they presumed it wasn't going to effect them. In so far as our complaints about it showed up on their radar they just wrote them off as a case of sour grapes because we were on the receiving end. Plus, probably a bit of jealousy on their part that we had seemingly won the footballing lottery and who doesn't like to see a strong rival get cut down to size. Well now the wider footballing community is waking up to the reality of FFP and this can only help us in the court of public opinion.
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City are still being blamed for it by everton and forest fans.
 
The ATP tennis circuit has just announced a huge sponsorship deal with the Saudi Public Investment Fund. No doubt this will trigger the BBC's intrepid sports reporter Dan Roan into action.

I can just hear him now, on the phone to his Editor....


Dan.."Yeah, if you could just book me on an Emirates business class to Riyadh asap ?"

Editor.."No problem Dan, will do, and how about the Ritz Carlton Hotel, fancy a suite as usual ?"

Dan.. "Sounds good, I love a bit of winter sun. While I'm over there Ill find a tennis court to stand on and waffle on to camera about sports washing for 5 mins, should look good on the main news and the web site"

Editor.."Awesome, Dan as always..."

Dan.."Looks like a good opportunity to have another dig at City and few 115 references wouldn't go amiss, mustn't forget the usual City deny any wrong doing at the end"

Editor.."Do you think you should mention ManU have received £100m+ from Saudi Telecom over the last 10 years"

Dan.."No, not a good idea it would only confuse the viewers"

Editor.."How about mentioning Arsenal have received £200m+ from the UAE airline Emirates ? in the last 20 years"

Dan.."I dont think it would be helpful, we need to keep it simple, I might throw a dig or two at Newcastle if you like"

Editor.."Oh yes please Dan have a go at the magpies, those bastards knocked Liverpool out of the Champs League in Jurgen's last year, btw for the return flight would Etihad Airways be OK, biz class as usual ?.

Dan.."Absolutely, I love flying with Etihad.."
 
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HelloCity said:
Came off twitter over a year ago and feel much better for it. The bombardment of negativity made me feel like crap.
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Done the same a week ago. Great to have that negativity out of my life. Its a toxic place and was making me feel like crap as well. Going down rabbit holes trying to defend our club was a pure waste of time
 
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