Financial Fair Play investigation

[catcherintherye]

You clearly haven't read what I said or understood it

You still think CAS will be involved?

I dont know, as I have no idea of Evertons plan.

 

[Damo_1878]

We can all see you have mate. You've gone from no business can take another to court- to yes they can as long as they feel they have a just cause.

That's a backtrack. It's not an insult though, it's a strength to change your mind when faced with compelling evidence. Its admirable. Good for you.

I never said no business can take another to court

I said the Premier League member clubs cannot take the league to court unless they have cause. If the rulebook is followed they have none.

 

[davek]

Did you enjoy reading Bill Kenwright's introduction to the accounts Dave?

View attachment 207736

I read it, yes. I must say I thought he hit the right tone in terms of the overall position we're in. Good summary. Of course he is in large part why we're in this mess and he neglects to state that. He's hanging on until the summer when I think there'll be a huge shake up if we stay up. Moshiri knows this farce cant continue.

 

[gwladysnight]

I dont know, as I have no idea of Evertons plan.

We haven't got a plan.

We are claiming uncrystallized losses but three years on are still trying to quantify our losses. It makes the dog ate my homework look like a credible defence.

 

[Damo_1878]

I read it, yes. I must say I thought he hit the right tone in terms of the overall position we're in. Good summary. Of course he is in large part why we're in this mess and he neglects to state that. He's hanging on until the summer when I think there'll be a huge shake up if we stay up. Msohiri knows this farce cant continue.

I disagree on the tone

It was all me me me me me me me with him. Yet again.

 

[rochdaleblue]

All the noises from media suggest we are in for a points deduction, I've seen administration mentioned if relegated. Other clubs fans are lapping it up.

I hate this board for what they have done to us.

We’ve absolutely nothing to show for the expenditure on the pitch, at
least Leeds had champions league semi finals and where in contention at the top of the league. We’ve had nothing but failure and disappointment on the pitch and ultimately the club’s ability to operate in the future, is being jeopardised by the boards running of the club.

 

[Mrk]

Which is why they may launch a legal action alongside the process. What have they got to lose?

Sadly it wouldn't even get to court mate - you can't sue for something that hasn't happened and hasn't caused any kind of damages. All we'd lose is more money in legal fees and any remaining pride we have when we get laughed at by the legal system too.

 

[indieman1]

All the noises from media suggest we are in for a points deduction, I've seen administration mentioned if relegated. Other clubs fans are lapping it up.

I hate this board for what they have done to us.

That last sentence really is everything here in a nutshell. No hope of things getting better until they are removed.

 

[catcherintherye]

The point is that the Guardian ran an article stating that BDO were resigning. Both EFC and Moshiris denied that and stated they were still our auditors. That clearly wasn't the case.

As for the write-downs. They are entirely based upon us providing accurate information.

The main point though is that the only way we pass P&S is if the Premier League accepts our claim for uncrystallized COVID losses.

From the latest accounts.

Please note the table above does not include uncrystallised COVID-19
pandemic related losses arising from the significant deterioration in the
player trading market. The ability of the Club to generate material profits on
player trading, which also yields significant wage and amortisation savings
due to the players no longer being contracted to the Club, has unquestionably
resulted in a material and negative impact on the Club across the last three
reporting periods.
The Club is continuing to assess the uncrystallised financial impact caused
by the COVID-19 pandemic and the Board of Directors strongly believe that
a further substantial financial loss, not reflected in the £90.4m cumulative
crystallised figure referred to above, has been incurred by the Club


Three years on we can't even quantify those losses. We are continuing to assess. That is embarrassing.

I mean it's interesting but ultimately irrelevant. I don't know when they knew that BDO would resign, it may well have been after those comments. The issue here isnt who they have doing their accounts, it's the boards competence to run the club/business.

I dont actually think the uncrystalised losses matter. We are seemingly in breach with them. But in general, businesses regularly do write downs. Its perfectly normal.

The club should be able to detail those losses though. I agree with that. This stuff is not tough.

 

[Damo_1878]

Sadly it wouldn't even get to court mate - you can't sue for something that hasn't happened and hasn't caused any kind of damages. All we'd lose is more money in legal fees and any remaining pride we have when we get laughed at by the legal system too.

100% this.

 

[catcherintherye]

I never said no business can take another to court

I said the Premier League member clubs cannot take the league to court unless they have cause. If the rulebook is followed they have none.

You said they could only go to court unless both sides consent. That's not how law works.

But look, it seems like we both agree. Clubs can take the league to court if they feel they have cause, and neither of us seem convinced the club would have cause. But theoretically they could.

 

[gwladysnight]

Which is why they may launch a legal action alongside the process. What have they got to lose?

We can't launch a legal action.

We have absolutely no grounds.

 

[Mrk]

For what it's worth, I don't think we'll get a points deduction - it would open a huge can of worms for the premier league. It'll be a big fine and some kind of restrictions on playing staff (transfer ban and/or squad limits).

 

[Damo_1878]

You said they could only go to court unless both sides consent. That's not how law works.

But look, it seems like we both agree. Clubs can take the league to court if they feel they have cause, and neither of us seem convinced the club would have cause. But theoretically they could.

In this case that is the case. Arbitration firstly. As that is specified in the Premier League rulebook. A legal contract.

They cannot go to other jurisdictions either. Just the England and Wales legal system.

So no CAS for you son

 

[catcherintherye]

We can't launch a legal action.

We have absolutely no grounds.

Well we could launch legal action.

At present there are no grounds. If the PL are sensible with sentencing, and proportionate to other offences (the majority of Uefas sentences for breaches have been findings under £1m) then I see no reason why that would change.

If they are seen to be "making an example of us" that situation may change.