This guy determined we will fail FFPR

[JoeMercer'sWay]

http://www.financialfairplay.co.uk/latest-news/all-eyes-on-manchester-city-s-ffp-results

Love your comments at the bottom of the article PB. Awesome.

Prestwich_Blue • 5 days ago −
Where do I start with this nonsense. "Experts" are supposed to know what they're talking about and Thompson clearly doesn't. Will Rickson has used comments I made in another forum on this rubbish.

You would have more credibility if you didn't make snide and misleading remarks about financial disclosures. No club has to disclose anything more than the law and accounting standards require them to. City, as has been pointed out, voluntarily publish accounts as though they are a public company, which other privately owned clubs like Chelsea & Liverpool don't do. United, with companies based in Delaware & the Cayman Islands, certainly wouldn't if it wasn't for the disclosure requirements of the 2010 bond issue. The accounts are on the website for everyone to see. Clubs don't have to disclose FFP related statements in the same way they don't have to disclose their tax returns. So having a go at City for somehow hiding this information is complete bullshit. You're not of the Red persuasion by any chance are you? How about you do some disclosure yourself and tell us who you support? At least be objective.

Do you understand the concept of "related party transactions"? These are accounting requirements that ALL companies have to report, not just new UEFA requirements. UEFA wording is exactly the same as the relevant accounting standard. Etihad IS NOT, repeat IS NOT a related party to Manchester City or its parent company. So UEFA have no say in the matter. It's part of a company's responsibility to declare a related party transaction in their accounts and any deviation from fair market value. The sale of IP rights, which was done in order to centralise those rights worldwide, was rightly declared as such, as it involved a sale to a connected entity.

You also don't understand the process. Clubs report their figures to their national licencing body who audit them, not to UEFA. UEFA can audit the process of the national body and, I believe, individual submissions. They do not and will not make any decision on fair value.

The wages paid under contracts signed prior to June 1st 2010 has been stated to be £80m by Manchester City when they released their 2011/12 accounts. As admirable as Swiss Ramble's blog is, why would you take a guess by him over what City have already stated? As has already been pointed out, you can deduct that from allowable expenses in the 2011/12 accounts only on two conditions.

The first is the one you highlighted of an improving trend. That will clearly be met, not least due to the BT Sports PL deal. The other condition, which you didn't mention, is that it can only be deducted if it makes the difference between passing and failing FFP. Let's look at that then.

As you say, City's allowable loss for 2011/12 will be £82m (97-15). In 2012/13, the £15m is likely to be higher due to work done on the new campus and remediation work on other areas around the stadium itself. Therefore it's a reasonable bet we'll be able to deduct at least £20m. Losses are actually forecast to be around the £50m mark (the CEO has said this previously) so that's an allowable loss for 2012/13 of £30m. You're wrong about the addback of impairment and almost certainly wrong about the sale of IP rights. I suspect your "source" is actually brown and in a bottle in the training ground restaurant.

So that's an aggregate loss of £112m, which is obviously way outside the £38m which is acceptable.

So can we use the wages deduction if this is the case? At £80m, it brings the loss down to £32m and therefore makes the difference between passing and failing. So it's allowable and it's likely that City will actually pass FFP, which will no doubt be to your intense disappointment. And even if they don't, they will be able to demonstrate a clear route to break-even, which should be enough to satisfy UEFA.

But of course you never admit to being wrong. I might have some respect for you if you had the humility to do so, instead of insisting that the bullshit you peddle as "expert opinion" is correct.

The guy is a clown.

PB is one of our most respected Mods I'll have you know.

top and bottom.

 

[BlueAnorak]

Ha Ha.
Colin (PB) knows which particular Ed (Case) I was talking about...

 

[City Raider]

Mandela/World Cup draw - should we expect something today?

 

[adrianr]

Mandela/World Cup draw - should we expect something today?

Oooh you cynic! ;)

 

[unexpected item]

Quote from an interview with Plattini (google translated) from here http://futbol.as.com/futbol/2013/12/03/internacional/1386029365_507071.html

- Do not believe the exaggerated by sponsorship payment shirts or a certain stage in clubs owned by magnates is a way to haggle the Financial Fair Play?

-There is an independent commission that studies these cases. UEFA have devices to detect if there turns to the rules, and monitors to ensure compliance with the Financial Fair Play. (Platini warns that the first decisions on Financial Fair Play will arrive next spring, in April or May, and may have surprises).

 

[BluessinceHydeRoad]

I've actually enjoyed this thread which is unusual because most discussion on the subject rouses me to fury. Of course, this discussion includes contributions from City fans who have detailed knowledge of both the rules and our club's finances and we've had contributions from Swiss Ramble who combines knowledge, experience and objectivity. I tend to take the view that those responsible for our club know what they're doing and have never shown any concern at all about our ability to comply. That's good enough for me.

I am cynical about the intentions of those who "are convinced" or "know.End of. Fact" that we we will fail FFPR. It all smacks of the kind of disaster scenario they have wished on us since September 2008. We all know the past manifestations about the Sheikh "walking away", about no-one "who's any good" ever signing for us, our lack of "istry and tradition" and now it's UEFA who are going to "sort us out". In fact, this argument is like all the others in that it prepares the ground for its own failure - if City comply it can only be because of some cosy and corrupt deal with UEFA which will invalidate our trophies. Or the courts will bail City out and destroy such honourable clubs as... Having seen, one after another, every argument that the "City project" can't possibly succeed washed down the drain, they now put their fading hopes in the seedy rule changes of a desperate cartel. Having failed on the pitch they pray for success off it!

"This guy" seems little different to those who have gone before - limited knowledge of the rules, limited knowledge of finance and accounting, absolutely no knowledge of City's finances or City as a club. I'll put my faith firmly in the Sheikh and those who run the club.

 

[The Flash]

"This guy" seems little different to those who have gone before - limited knowledge of the rules, limited knowledge of finance and accounting, absolutely no knowledge of City's finances or City as a club. I'll put my faith firmly in the Sheikh and those who run the club.

Loved your post BSHR, but the end paragraph is a brilliant summing-up of the no-mark, know-nothing who purports to be some kind of financial expert.

His reputation has been dismantled on this thread and I am thoroughly looking forward to the next set of financials being published to put the final nail in his coffin.

How he can come up with an FFP calculator when he doesn't have a clue how it all works is also laughable.

 

[Newman Noggs]

Quote from an interview with Plattini (google translated) from here http://futbol.as.com/futbol/2013/12/03/internacional/1386029365_507071.html

- Do not believe the exaggerated by sponsorship payment shirts or a certain stage in clubs owned by magnates is a way to haggle the Financial Fair Play?

-There is an independent commission that studies these cases. UEFA have devices to detect if there turns to the rules, and monitors to ensure compliance with the Financial Fair Play. (Platini warns that the first decisions on Financial Fair Play will arrive next spring, in April or May, and may have surprises).

[/quote

Great thread with superb contributions that have convinced me that we'll comply with the rules as written. What still concerns me is the flagrant corruption at UEFA and the Grey areas that can be interpreted according to the desired outcome. The above comments suggest that some outcomes are already known but, apparently, not announced. True the aggrieved party can resort to Court, but how much damage can be done before that would be resolved ?

 

[LoveCity]

If we failed it in the first year, so what? It's a slap on the wrist to start. Long-term, we'll be laughing at these agenda-driven policies.

 

[aguero93:20]

Quote from an interview with Plattini (google translated) from here http://futbol.as.com/futbol/2013/12/03/internacional/1386029365_507071.html

- Do not believe the exaggerated by sponsorship payment shirts or a certain stage in clubs owned by magnates is a way to haggle the Financial Fair Play?

-There is an independent commission that studies these cases. UEFA have devices to detect if there turns to the rules, and monitors to ensure compliance with the Financial Fair Play. (Platini warns that the first decisions on Financial Fair Play will arrive next spring, in April or May, and may have surprises).

[/quote

Great thread with superb contributions that have convinced me that we'll comply with the rules as written. What still concerns me is the flagrant corruption at UEFA and the Grey areas that can be interpreted according to the desired outcome. The above comments suggest that some outcomes are already known but, apparently, not announced. True the aggrieved party can resort to Court, but how much damage can be done before that would be resolved ?

wherever UEFA believe they have grey areas, eu law and uk law is very, very clear and concise on these areas and doesn't give them any room to maneuver. with regards to shirt sponsorship etc, manure, real et al have signed bigger deals than us in the intervening time period, rendering any interpretation of any sponsorships we have redundant. don't forget that one of the current chief financial officers at the club helped to write the ffp legislation and any confidence expressed by ferran soriano and Khaldoon al mulbarak more than likely stems from his consultation. the bt deal also should help us to show a clear path to break-even if one didn't exist already as our tv revenues are set to skyrocket. as for platini, he's clueless on financial matters and anything he says in interviews is a politician at work, shameless posturing to increase his own stature. as things stand with ffp, we have bigger revenues and lower expenditure than psg, so his hands are tied with regards to handing out any punishment to us unless he wants to crucify his home countries flagship club and his sons employers.
in other words "chill, winston"