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Coppello

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Coppello last won the day on July 21 2019

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  1. Cheers @Mr Popodopolous, I had a read this morning on the way into work it's a good article but there's a couple of points I'd disagree with. Ultimately, when signing the directors report in the financial statements, management have to take responsibility for the accounting judgements. They've signed the report stating they're required to do the following: Select suitable accounting policies for the Company's financial statements and apply them consistently Make judgments and accounting estimates that are reasonable and prudent; State whether UK accounting standards have been followed, subject to any material departures disclosed in the FS; They haven't selected suitable accounting policies expected of a Company of its nature, given they've departed from the common practice in industry. The key judgments related to the amortisation and the stadium valuation are not reasonable and prudent. Based on this, I struggle to see how they've complied with UK Companies Act requirements. Secondly, I struggle to see how the stadium transaction has complied with the relevant accounting standards given that related parties transactions are required to be at an arms length. I appreciate that an 'independent valuer' was engaged but the auditor should've challenged this as it is clearly extortionate compared to any of revaluations which were conducted in recent years by other clubs. I think a further investigation would no doubt show that it's not an arm length and a significantly smaller gain should be recognised. The EFL should've moved a lot quicker than this given that Sheffield Wednesday, Villa, Reading and Birmingham had time to get their stadium valued and finalise all of the paperwork to complete the transaction. The whole sage is a complete mess and does highlight how inept the EFL have been under Harvey's tenure with regards to financial sustainability. I don't have a problem with stadium revaluations in general given that they often get written down significantly despite them still being in use. Selhurst Park had a carrying value of around £4m in the prior year set of financial statements but it's clearly worth a lot more. The sale and leaseback transactions are clearly against the spirit of sustainability and it's something both the EFL and the directors need to be accountable for. The EFL should create it's own accounting guidance to ensure that we have a one size fits all policy for all clubs. It should be their interpretation of the UK accounting framework and outline the principles in which the clubs prepare their financial statement from a UK accounting standards perspective (UK GAAP) and a the FFP requirements. The EFL should appoint the independent valuer on their behalf to ensure that we have a consistent application across the board. I could go on but I'm pretty certain we were all saying this 12 months ago!
  2. Fair comment, when I posted it I didn't really twig that it was Holocaust Memorial Day, not that it excuses it as it was a cheap gag and shouldn't have been made regardless. Apologies if it caused any offence.
  3. That's it. It undermines the genuine efforts of people trying to enhance women's rights in the UK and overseas. It makes a mockery of equality and she should realise that her comments cause a lot of damage.
  4. It's ironic that someone named Ann Francke has the societal awareness of someone who has spent several years in attic.
  5. It looks good and shows we have reasonably strong headroom. I wouldn't be surprised to see our wage bill increase significantly this year with Williams, Kalas and Palmer signed permanently and us covering Afobe's salary. Don't forget that any transfer fees that we do incur this January will only impact the P&L by the amortised amount and the salary etc so I wouldn't rule out the signing of Ivan Toney for a significant sum.
  6. Yeah, @reddevil is correct. Only an element of the player purchases from this summer would hit the P&L and therefore impact FFP. This would be the amortisation element of it and therefore we would have a little more headroom, particularly with Webster's sale being recognised in the 19/20 accounts.
  7. The financial benefits would be huge and would take us to the next level. It would make us more of an attractive proposition upon relegation for signing players as we'd finally be referred to as a Premier League team. There's a lot of benefits which are hard to overlook but I am also apprehensive. One of the biggest downsides for me would be losing 'our' club and residents of Bristol who have never been to the Gate jump on the back of our success, only to piss off when we go down. This is one of the reasons, from a selfish perspective, I wasn't too disappointed at the Shrewsbury result. Being based in London and having other commitments at the weekend, I'm not a season ticket holder. The thought of someone going to big games who weren't interested in us when we were in League One is upsetting. Of course, having larger crowds puts more money into the club but I don't like the idea of actual fans missing out. I also believe a lot of clubs fall into a trap and struggle to motivate high paid players who were purchased on promotion and are unwilling to play in the Championship. As someone mentioned, newly promoted clubs attract mercenaries from overseas who are only interested in playing in the top flight, only to not be interested post relegation. Relegated sides often struggle as a result.
  8. An example of how ridiculous agents fees have become is the Aaron Ramsey to Juventus deal which happened in the summer. Ramsey's agent David Baldwin had been advising the player to consider his options for a little while and when he heard that Juventus were interested, he jumped at the chance. As Baldwin doesn't speak Italian, he struggled to transact the deal so got a friend and fellow agent Iain Moody involved to negotiate on his behalf. Moody spent a few months negotiating the move and when it was finally signed, amazingly Juventus paid David Baldwin £6m for doing next to nothing. Iain Moody wanted his share of the fees so approached David for his cut which was laughed out of the door. He explained the situation to Juve who said they'd arrange something, so he assumed he would get very little. How much did they transfer him? £1 million. The system is a joke and is damaging football. A footballer with an average level of intelligence could negotiate and transact the deal themselves, it really is quite straightforward. Interestingly, 16 year old Jude Bellingham of Birmingham City is on the verge of a big money move. His Dad, who was a decent amateur footballer and quite senior in the police force has now become his agent to stop him being misled (or to pocked some cash himself!)
  9. Following on from my post yesterday, they're currently 2-0 down at home to Burnley. No doubt he'll be proud of the fact his team got to share a pitch with a side like the Clarets.
  10. After their Carabao Cup home loss to Man City, he said the following "“You know, when you play Man City in the Carabao Cup and they put their strongest team out, you know you’ve gone places … “So, I didn’t take that too badly, you know? I took it as a compliment that they came out with their best players.” This was after being 3-0 down at the break at home in a derby and City rested Aguero, David Silva, Jesus, Ederson and both Sane and Laporte were injured too. To be a Manchester United manager and to make those comments is scandalous. I can imagine Fergie wanting him out asap.
  11. I’d cry if I was forced to lead Plymouth out too. Fair play to the kid, it’s moments like that where the unbreakable bond with football is made. Mine was watching Bristol City v Chesterfield for some reason!
  12. A Sunday roasting sponsored by @southvillekiddy.
  13. We need answers now mate, the club isn’t going to run itself. If Maggie Instagrammed a photo of Steve stuffing a chicken he’d be criticised for not putting his all into running the club. The comments would be full of people criticising his choice of poultry and where it was farmed ‘why are you shopping in Waitrose when you can get more for your money in European Aldi’ and ‘we don’t need a chicken, we need a goose’.
  14. Why don’t you answer my question? I’m genuinely intrigued who you would appoint.
  15. Yeah but you would've have identified him before Leeds did - apologies if you have but I haven't gone through your posting history to check your suggestions. Secondly, you would be hard pushed to attract him here given his credentials and the reputation of our club on the world stage. Out of interest, who is the next Bielsa and who would you appoint tomorrow? Just so you can reference it in the future to support your argument.
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