- 26 Jan 2006
- Wherever I lay my hat that's my home
You're adding 2+2 and coming up with something other than 4. You're mixing up the Companies Act with a set of reporting rules for a private organisation.OK, I'll try it this way.
If the CAS find we have a case to answer and uphold the ban, effectively that investigation by senior judges finds that the books were cooked and implies breaches of the Companies Act. However they are not empowered to take action under that Act so will do nothing other than submit their findings to the two parties. City and UEFA. They may issue some brief of an overview of the proceedings with the outcome in their reports.
If Etihad gave us £5m and we reported that as £50m, we'd be inflating our revenue and profits by £45m. That could well be an offence under the Companies Act. It would certainly be a breach of FFP.
If, however, Etihad pay us £50m even though only £5m was "their" money and the rest came from Sheikh Mansour or the Executive Council, as long as we record that as a £50m receipt, then we've committed no offence under Company law. We may have breached FFP in certain circumstances though.