Financial Fair Play investigation

[catcherintherye]

It takes time to review them.

We arent the only club in the league.

It then takes time to submit them to an independent company, for them to review them.

If I murdered somebody yesterday and the Police came for me next year, could I say "You never caught me at the time I committed the crime, so let me free"?

Well they reviewed the latest accounts in a couple of weeks. Its actually quite quick to do if you outsource.

 

[Blue peter]

The covid year should have been ignored for p&s. The world shut down, games were stopped for a long period, the euros were cancelled. Games were played behind closed doors. Players got sick, some probably never got back to their previous level (Godfrey's situation being suspicious in this case). It's madness to me that they have taken that year into account.

'the rules apply the same to everyone' :
Covid would disproportionately affect some teams rather than others depending on myriad different circumstances. Perhaps we could have sold some of our high earners in that period. Even supposedly well run clubs were trying to furlough staff.

I'm not for one minute suggesting our board aren't divs, but that year was so anomalous in the football world (nothing like that has happened since the wars) that it seems completely mad to include that year in the financial rules.

We'll end up with a bigger punishment than the 6 clubs that tried to topple the league completely.

Agreed, and from what I understood they average two years encapsulating Covid but we made out our losses were a lot worse than the other PL teams, which itself is ridiculous, just clever accounting.

I was just wondering whether they have taken a more reflective view now that we are one accounting period free of Covid to more accurately assess whether those theoretica losses were indeed reflective and consistent with seasons pre and post.

 

[Goat]

I imagine lots of teams are going to be angry they get relegated and want to try and reverse that. Which is their right. It's a bit odd as theyve pretty much all outspent us for this period (the last 2 years) but I can understand them looking out for their interests.

What is not acceptable though, in any sort of liberal society, with any notion of due process and transparency, is a regulator to be guided by this sentiment.

As I indicated, it is a conflict of interest. You cannot expect a fair process where this exists, and only totalitarian states operate legal systems in such a way.

We can all be angry about lots of things. It doesnt give you the right to get guilt against someone on the basis of that. Theres a process to be followed.

Totalitarian states?????

Mate, we broke the rules, they arent pursuing us due to our religion, race or political leanings.

 

[roydo]

I think the biggest problem is, did the Premier League OK the accounts? Or did they just take them off us and say "We will get back to you".

No idea mate. But I do know that some time ago, Simon Jordan, (yeah, I know), after slamming the club/accounts, did change his tune after being put right on Twitter by "2 Evertonians" who "Knew their numbers" explained how the write offs were justified to the PL.

Reckon we can guess who one of those two was.

 

[Goat]

Well they reviewed the latest accounts in a couple of weeks. Its actually quite quick to do if you outsource.

They did?

I assume you can show some evidence of this?

 

[catcherintherye]

Yes they would and we have given them the ammunition to place pressure on the PL

Well if there's a conflict of interest, the process is wholly floored and should not proceed further.

 

[Damo_1878]

Yes. And if you go back to the first point, that set of accounts are not listed on that page, because the club hasnt released them yet.

Yes but the Premier League are in receipt of them. They were on or before 01 March 2023

 

[Damo_1878]

Well if there's a conflict of interest, the process is wholly floored and should not proceed further.

You literally have no evidence of that. Whatsoever

 

[Goat]

No idea mate. But I do know that some time ago, Simon Jordan, (yeah, I know), after slamming the club/accounts, did change his tune after being put right on Twitter by "2 Evertonians" who "Knew their numbers" explained how the write offs were justified to the PL.

Reckon we can guess who one of those two was.

We asked them to remove 180million for covid mate.

No other club even used half of that.

 

[MikeH72]

I always love these threads as it reveals how many accountants, sports lawyers and financial regulators there are amongst our fanbase. It's also amazing to me that the venn diagram of football tactics experts, transfer specialists and financial regulators overlap almost perfectly.

Or, maybe, just maybe, none of us have a scooby and all of these tense discussions are just droplets of urine in the breeze.

Clearly, we have been run very poorly, clearly there will be some sort of consequence, but I'll guarantee not a soul on here knows what it'll be.

You don’t have to be an accountant or a sports lawyer to know that losing £372m over a three year period is against the rules, it’s very simple actually.

 

[catcherintherye]

Totalitarian states?????

Mate, we broke the rules, they arent pursuing us due to our religion, race or political leanings.

I'm just giving an example of how due process should work, and shouldnt work.

 

[MIKE85]

Financial fair play was introduced supposedly to protect club when in fact the only thing it does is protecting the top 6 clubs in the country so that they could never be challenged. It is totally against competition...one day that rule will go.

If other PL clubs don't like the rules, they can amend the rules. It takes 14 votes for a change. So what's keeping them from amending them? They don't need the so-called top 6.

 

[cantlivewithem]

They werent passed, they were submitted and accepted.

Its not the same as passing them.

Considering FFP is a rolling 3 year window im not sure how you can keep saying "They passed our accounts", they didnt.

It is not a case of whether accounts for previous years were passed or not passed. AS each years begins a new 3 year rolling period. The covid adjusted accounts for 2020-21 and 2019-could have been acceptable to the Premier League when in conjunction with 2018-19's accounts but not in conjunction with the three rolling period that included 2021-22's accounts

 

[catcherintherye]

We asked them to remove 180million for covid mate.

No other club even used half of that.

It they had a problem with it, why did they not highlight it? And why were they telling clubs we had passed?

 

[catcherintherye]

You literally have no evidence of that. Whatsoever

I know. That's why I have asked the question and said "if".