Coming home to roost, be afraid, be very afraid

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Esox Lucius
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Re: Coming home to roost, be afraid, be very afraid

Post by Esox Lucius » Sun Sep 08, 2019 12:56 pm

222gers wrote:
Sun Sep 08, 2019 11:16 am
Esox Lucius wrote:
Sun Sep 08, 2019 9:40 am
Ther is also the matter of the Club Charter introduced last Summer whereby the EFL have a "commitment to run EFL Clubs to the highest possible standards in a professional manner and with the utmost integrity."
https://www.efl.com/news/2018/june/efl- ... -round-up/
Hmm, fine words butter no parsnips. I imagine Derby and the rest of them will get away with it while if we overspend by three pence, they'll be on us in two shakes of a crying baby.
I don't think Steve Gibson, at the least, will be letting the EFL sweep this under the carpet. They are already under pressure from the mishandling of the Bury, Coventry, Blackpool & Bolton owners controversies.
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Re: Coming home to roost, be afraid, be very afraid

Post by UxbridgeR » Mon Sep 09, 2019 8:43 am

Esox Lucius wrote:
Fri Sep 06, 2019 12:11 pm
White Duck wrote:
Fri Sep 06, 2019 10:15 am
Very little chance of anything happening against these 'big' clubs. The EFL want to be seen to be doing something but it will probably lead to the loophole being closed and nothing else.
There isn't a loophole. It was a fraudulent declaration of the fair market value of the stadium. I don't think Steve Gibson is going to let slide by either, he wants sanctions. They have just fined Huddersfield for what was no more than an advertising joke which backfired, I can't see fraudulent FFP claims being ignored. They may close the loophole which allows Rooney to be sponsored by a betting company, thereby covering his real wages whilst Derby pay him a very basic salary to stay within FFP regulations.
That remains to be proved. If it does transpire that they've materially misrepresented the value of the stadium in their accounts, then that's surely a legal matter and would have potential consequences that go beyond FFP. I would imagine that what constitutes " a fair market value" could keep opposing legal teams occupied for quite some time. As we know, these things can drag on for years.

I think it's a bit harsh to blame the EFL for these kind of breaches. Who could have anticipated that clubs would be prepared to actually sell their grounds to avoid punishment ? In football, as in any other area of life, there will be always be those who will explore every possible loophole to circumvent the rules, if they perceive it will give them a competitive or financial advantage.

Personally, I wouldn't be happy if I were a fan of any of those clubs, seeing their grounds sold to avoid a one-off punishment. It could well come back to haunt them.
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Re: Coming home to roost, be afraid, be very afraid

Post by Esox Lucius » Mon Sep 09, 2019 12:45 pm

AFAIK that was the conclusion of of a journalist who had used some sort of financial specialist who, based on examples in the filed, concluded that Pride Park had been over valued by a factor of either 2.4 or 2.8. I can't remember the figure accurately as I read the article a few months ago when it first came to light that Steve Gibson was raising hell over it.
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Re: Coming home to roost, be afraid, be very afraid

Post by QPR_John » Mon Sep 09, 2019 2:50 pm

UxbridgeR wrote:
Mon Sep 09, 2019 8:43 am
Esox Lucius wrote:
Fri Sep 06, 2019 12:11 pm
White Duck wrote:
Fri Sep 06, 2019 10:15 am
Very little chance of anything happening against these 'big' clubs. The EFL want to be seen to be doing something but it will probably lead to the loophole being closed and nothing else.
There isn't a loophole. It was a fraudulent declaration of the fair market value of the stadium. I don't think Steve Gibson is going to let slide by either, he wants sanctions. They have just fined Huddersfield for what was no more than an advertising joke which backfired, I can't see fraudulent FFP claims being ignored. They may close the loophole which allows Rooney to be sponsored by a betting company, thereby covering his real wages whilst Derby pay him a very basic salary to stay within FFP regulations.
That remains to be proved. If it does transpire that they've materially misrepresented the value of the stadium in their accounts, then that's surely a legal matter and would have potential consequences that go beyond FFP. I would imagine that what constitutes " a fair market value" could keep opposing legal teams occupied for quite some time. As we know, these things can drag on for years.

I think it's a bit harsh to blame the EFL for these kind of breaches. Who could have anticipated that clubs would be prepared to actually sell their grounds to avoid punishment ? In football, as in any other area of life, there will be always be those who will explore every possible loophole to circumvent the rules, if they perceive it will give them a competitive or financial advantage.

Personally, I wouldn't be happy if I were a fan of any of those clubs, seeing their grounds sold to avoid a one-off punishment. It could well come back to haunt them.
If nothing else it shows the FL to be naive and for that they can be blamed. They anticipated above market value sponsorship deals so really cannot be excused for missing this. They messed up with FFP it is as simple as that

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Re: Coming home to roost, be afraid, be very afraid

Post by the big IP » Mon Sep 09, 2019 10:38 pm

Nothing is going to happen to these clubs, swept under the carpet as usual. Look what Wolves did in the championship

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Re: Coming home to roost, be afraid, be very afraid

Post by dm » Fri Sep 13, 2019 7:55 am

The latest on this is Steve Gibson and Middlesbrough are looking to sue the English Football League over it's failure to enforce its own financial rules with regard to Derby County’s purchase of their own stadium.

Something may yet be done over the financial chicanery of EFL clubs.

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Re: Coming home to roost, be afraid, be very afraid

Post by Esox Lucius » Fri Sep 13, 2019 11:06 am

dm wrote:
Fri Sep 13, 2019 7:55 am
The latest on this is Steve Gibson and Middlesbrough are looking to sue the English Football League over it's failure to enforce its own financial rules with regard to Derby County’s purchase of their own stadium.

Something may yet be done over the financial chicanery of EFL clubs.
Steve Gibson made it quite clear that he thinks some clubs are cheating and he is prepared to back his judgement. Perhaps some support from other clubs might make it clear to the EFL that football fans have had enough.
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Re: Coming home to roost, be afraid, be very afraid

Post by ZENITH R » Fri Sep 13, 2019 11:50 am

Saturday 9th November 1968: QPR V Burnley in the First Division - I saw the Hoops for the first time and my obsession began!

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Re: Coming home to roost, be afraid, be very afraid

Post by dm » Fri Sep 13, 2019 12:29 pm

Our past financial failings and the FFP fine still leaves a bitter taste but we've taken our medicine and moved on. In the light of this and other recent club horror stories, it feels rather good to be on a better footing both on and off the field.

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Re: Coming home to roost, be afraid, be very afraid

Post by UxbridgeR » Fri Nov 15, 2019 8:41 am

I see Sheffield Wednesday have now been charged with misconduct following the sale of their ground. I'm sure Derby and Reading will also be under investigation.

https://www.bbc.co.uk/sport/football/50418776
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Re: Coming home to roost, be afraid, be very afraid

Post by White Duck » Fri Nov 15, 2019 12:36 pm

UxbridgeR wrote:
Fri Nov 15, 2019 8:41 am
I see Sheffield Wednesday have now been charged with misconduct following the sale of their ground. I'm sure Derby and Reading will also be under investigation.

https://www.bbc.co.uk/sport/football/50418776
I see a long investigation ahead followed by a points deduction towards the end of the season that takes them from mid table with nothing to play for down to slightly lower in mid table with no chance of relegation. That's them told.
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Re: Coming home to roost, be afraid, be very afraid

Post by Damien » Fri Nov 22, 2019 10:06 pm

White Duck wrote:
Fri Nov 15, 2019 12:36 pm
UxbridgeR wrote:
Fri Nov 15, 2019 8:41 am
I see Sheffield Wednesday have now been charged with misconduct following the sale of their ground. I'm sure Derby and Reading will also be under investigation.

https://www.bbc.co.uk/sport/football/50418776
I see a long investigation ahead followed by a points deduction towards the end of the season that takes them from mid table with nothing to play for down to slightly lower in mid table with no chance of relegation. That's them told.
nailonhead

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