Financial Fair Play (general thread)

[Wheeler Dealer]

Can a club take the Premier League to a civil court of law , I don't know but apparently at a recent PL meeting one club did threaten legal action over a rule change.
Perhaps someone could argue that the PL is guilty of negligence in enforcing it's own rules and take them to court.
Still would like to know how Boehly & Co found out about the illegal undercover payments by Abramovitch owned companies before they had even signed the deal to buy Chelsea and the PL & UEFA were unable to unearth any illegal dealings by Abramovitch ever since he has been in charge at Chelsea.

Abramovich

 

[SirHarryHotspur]

Anyway, where are our financial results . Are they trying to hide them or are they going to be announced with a flourish before kick off today.

I am wondering the same , should be published by tomorrow however the penalty for being up to month late with publishing for a private limited company is £150 and then rises, hardly going to impact the transfer fund.

 

[SirHarryHotspur]

Maybe they did but shoved it under the carpet. Some newspapers had stuff on Abramovich and the owners decided against publishing because they thought he might sue them into oblivion. That was from Matt Lawton, now of the Times , chief investigative reporter. Said that after Abramovich left Chelsea.
This is why countries should never own a club, too much influence and you cannot get at them
Chelsea was akin to Russia owning Chelsea. It was certainly Russias money, not his.
The City decision will be very, very interesting . Government will no doubt get involved, .

Have to wait and see on City, as far as I know there was no evidence of the Government putting any pressure in the UEFA/City case but the Chelsea saga is different as RA was a sanctioned person and Chelsea were only allowed to carry on under special licence from the Government, they were not allowed to sell tickets etc.

A fantasy theory of what may have happened.

On 7th May the cost of buying Chelsea is agreed but Boehly and Co with due diligence discover the undercover payments that should have gone through the Chelsea books .

Boehly goes to the government and says we have found these underhand dealings in Chelsea , you want to see Chelsea sold and we are happy to buy the club but why should we as owners be under the threat of points deduction/Europe ban for something that a rogue owner is responsible for.

On 16th May , Government insider announces deal close to collapse in BBC timeline

Maybe the Government then goes to the PL & UEFA for a little talk.

24th May Premier League agrees deal, Government then agree deal, which goes through on 28th May .

Later it is announced , Boehly held back £100million from his purchase of Chelsea amid concerns the club could inherit “unforeseen liabilities”, that to me sounds like a deal has been done.

Chelsea then report themselves, UEFA deal with case very quickly and on the same day that Juventus get banned from Europe , Chelsea are given a substantial fine with the words "incomplete financial reporting under the club’s previous ownership" " a financial contribution of €10 million to fully resolve the reported matters"

If the running of the club since the takeover results in breaking PSR rules then that will be down to Boehly & Co.

Chelsea's £4.25bn takeover completed

Chelsea's £4.25bn sale to a consortium led by American investor Todd Boehly and private equity firm Clearlake Capital is completed.

www.bbc.co.uk

 

[$hoguN]

Deny it & add another 10 points simply for the audacity. They breached the rule out of their own sheer stupidity. Accepted the same offer 2 months later than one they rejected from a different club which would have had them in compliance. Idiots.

Think this is a little harsh. They were non-compliant for a single game prior to selling Brennan to us. Just because someone else bid the cash it didn’t mean Brennan would be willing to join them.

3 points was probably where they should have landed and the appeal might get them there

 

[Misfit]

You want harsh? I'd go the German route. Your books are in order before the season even starts or you don't get a license to compete in the league.

I see that as fair and reasonable though.

Potatoes potahtoes I suppose.

 

[Nine while nine]

You want harsh? I'd go the German route. Your books are in order before the season even starts or you don't get a license to compete in the league.

I see that as fair and reasonable though.

Potatoes potahtoes I suppose.

It pleases me intensely that 'the German route' turns out to be...

an auto-ban

 

[Marty]

You want harsh? I'd go the German route. Your books are in order before the season even starts or you don't get a license to compete in the league.

I see that as fair and reasonable though.

Potatoes potahtoes I suppose.

Or the Spanish route where your wage cap for the upcoming season is set according to your accounts in the most recent season and if you exceed the cap you can't register players.

 

[Misfit]

Or the Spanish route where your wage cap for the upcoming season is set according to your accounts in the most recent season and if you exceed the cap you can't register players.

Yes. The mess several clubs have got themselves into has called for drastic measures. The PL so far seems to want to go the doing the bare minimum/looking like you're doing something route without addressing the issue properly. A handful of points here and there after the fact. Meh.

Now maybe this is just the lag, the calm before the storm if you will, but a lifetime of watching the PL's actions makes many, myself included, sceptical.

And this is before we get to their laughable efforts wrt fit and proper tests concerning owners etc.

 

[dovahkiin]

leicester

 

[Spriggan]

leicester

I can't open these links, but I'm sure that they echo the financials that Leicester reported this morning; a 215 million pound loss over the last 3 seasons! I hope they get hammered!

 

[Marty]

Brighton are such a massive contrast to these shitshow clubs in just about every possible way.

 

[Yid-ol]

Brighton are such a massive contrast to these shitshow clubs in just about every possible way.

Haven't they made 150-200 million on player sales in the last couple of seasons? Well run and also able to fleece some clubs (Chelsea) for players also!

 

[Spriggan]

Haven't they made 150-200 million on player sales in the last couple of seasons? Well run and also able to fleece some clubs (Chelsea) for players also!

Yep, 121.4 million. Very well run club, as are we.

 

[dovahkiin]

but they(brighton) still owe the owner 375m or something like that

 

[SirHarryHotspur]

From last year...

People have to be 'sensible' to acknowledge Albion cannot rely on Tony Bloom forever

A finance expert has said people have to be “sensible” to acknowledge that Albion cannot rely on the generosity of owner Tony Bloom for ever.

www.theargus.co.uk

 

[Spriggan]

but they(brighton) still owe the owner 375m or something like that

They do but they've paid it down to 373.3 from 406.5 million, which doesn't seem like a huge deduction, but considering the huge cost of running Premier League club, they are steadily reducing the debt and staying within PSR/FFP. Paul Barber has done a great job of running the club, but then he worked with DL and was part of the sustainable model we have in place.

 

[dovahkiin]

They do but they've paid it down to 373.3 from 406.5 million, which doesn't seem like a huge deduction, but considering the huge cost of running Premier League club, they are steadily reducing the debt and staying within PSR/FFP. Paul Barber has done a great job of running the club, but then he worked with DL and was part of the sustainable model we have in place.

they would have to keep selling players for crazy fees though

 

[luRRka]

I can't open these links, but I'm sure that they echo the financials that Leicester reported this morning; a 215 million pound loss over the last 3 seasons! I hope they get hammered!

They're at 116% wages to revenue. Jesus

 

[Spriggan]

they would have to keep selling players for crazy fees though

To a degree, yes, but they seem to be very well run financially, so I can see them paying off the debt without drastic sales, unlike Cheatski have to do.

 

[Spriggan]

They're at 116% wages to revenue. Jesus

Yep, they're pretty much screwed every which way they turn. So, so sad..........................................