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Management FFP / PSR Requirements & Breaches

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Nuts said:
Indeed. It was things like announcing a go kart track and then getting knocked out of the FA Cup by Sheffield's reserves that really boiled people's piss. Well, anybody with an ounce of passion.
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Equally; anyone with half a brain ought to have been able to separate the two and realise "LoL Beyonce/karts" was puerile rhetoric.
 
r-u-s-x said:
They don't. Reading the Everton forums they say that theirs are and has caused them to break and that's why they will overturn on appeal. Sounds like bollox but Hope they financed wrong and still get punished just to see the rage
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Yeh all that chat about interest payments on the stadium project just sounds like reaching for excuses.
 
Col_McCafferty said:
Ha, he really isn't.

I'm still Levy Out and always wil be, don't like nor trust the man.
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Always will be?

So if we continue on our current journey and end up with pots, you'll still want him out, even if he delivers EXACTLY what you've used as your reasoning for wanting him out?

Liking him is irrelevant. Surely if he delivers and, dare I say it, we end up as one of the biggest clubs in World Football, he'd have earned that trust?
 
Shadydan said:
Because most other owners seemingly tried to fast track their way to success.
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And many fans wanted that too. And if we did, and we were getting deducted point - the first person they would point a finger at is.........

Anyone can be pissed at the guy for his poor managerial appointments and player acquisition - its part and parcel of being an owner of a sports club.

But so is ensuring that the club is well run from a financial perspective and giving the fans a lasting platform to make money and be self-sufficient.
 
A Tuba said:
They are accused of using "stadium" loans to fund football expenditure. ENIC used around £400 million of club generated funds on the stadium before the financing and are using club funds to service the resulting debt for contrast.
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If we can sell stadium naming rights then we'll genuinely be a force with the ongoing income we have.
 
Ionman34 said:
I might be wrong here, but I don't think ignorance is a defence here. He would be expected to carry out due diligence before buying the club.

I've never heard of any serious businessman buying a business without a full appraisal of the accounts. If they'd done a proper job, then surely they'd have seen the anomalies in payments?

How dumb do you have to be to buy the club then, shortly afterwards, find those anomalies? We're talking about a multi Billion pound purchase here, you'd normally get forensic accountants all over the books for weeks before signing the contract.

I just cannot see how Boehly and his mob didn't know about them before he bought the club.
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I agree 100%, but this is football. It never seems to run exactly how real life does. It is a weird business where normal principles just never seem to apply.
 
Mostly wrong said:
There is some precedence in this type of case to say that Chelsea cannot escape punishment merely because the false accounting took place under the previous administration. Luton in their 30 point deduction season were handed the larger of their 2 points deductions for financial irregularities in the accounts from the previous administration, and despite appealing on the grounds that it was nothing to do with them, it was still upheld, because Luton had still benefitted from the false accounts. Although technically true that Clearlake are not culpable for Abramovich's crimes, if it can be proven the false accounting directly benefitted the team on the pitch, Chelsea Football Club is still the prime beneficiary of said false accounting, and any ill-gotten trophies they won in the process can argue to be unfairly contested. For that reason, I won't be surprised if they get the book thrown at them despite Boehly's cooperation with the investigation. Their rampant spending since the takeover won't have helped to take any attention off of them either.
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True it is not the owners that are held to account it is the club as an entity.
 
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