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Coppello

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  1. Applying accounting rules, profit on transactions with related parties should be at an arms length. Given that they’ve had an independent valuation, who have determined that the fair value of Pride Park is £80m (which is farcical), they’ve technically worked within the rules. The problem is that transactions with related parties can be genuine and it can’t always be genuine. For example, we can the rugby club rent for the use of Ashton Gate in the accounts of the stadium. We’ve actually charged rent at an arms length and it’s fair for them to pay for the use of the stadium. What they’ve done is the financial equivalent of scoring a goal when a player is down injured; there’s no rules against it but it’s unethical. Unless the EFL enforce a change in rules, the same thing will continue to happen. Legally, I don’t think the EFL can ask them to strike it off this years accounts. What I think they can do is scrutinise the accounts and appoint a surveyor to conduct another valuation. I have absolutely no idea how they can reach £80m for a 20 year old stadium built on a converted rubbish tip in Derbyshire.
  2. @Downend City The EFL have their own accountants which monitor and scrutinise the FFP submissions of clubs. Part of it is based on the financial statements which are audited by an external accounting firm and should provide assurance that they meet the relevant accounting standards. However, there are several deductions made to the accounts to make them more in line with the FFP requirements and the auditors will not look at this as they’re looking at them from a completely legal view. The figures reported in the accounts, less the deductions, will then be scrutinised by the EFL’s accountants. They will have limited information on how the deducted items have been made up, for example they have limited oversight over the total academy spend, the deductions for women’s football, community spend etc. which makes their job a little harder. However, the most contentious piece of the reporting is the forecasts submitted for the upcoming year(s). The auditors will not review these and therefore the whole review is performed by the EFL and this is where the scope for creative accounting increases significantly. In the Premier League, the forecasts are heavily scrutinised and if you report significant profits from player trading, they threaten to hold your hand through the transfer window.
  3. Yeah, it wasn't exactly groundbreaking stuff but he did say quite a few things which did make me think. I agree with your point in terms of failing the PL FFP requirements, it is bloody hard to do. At the same time, they're marking you pretty tightly and query many of the numbers that go into your forecast. At the club I work at, the PL contact us with queries each week despite there being significant headroom. With a culture as poor as it seems with the EFL, I can't imagine that they can oversee the activities of 72 clubs that closely.
  4. I had an interesting conversation with a former Finance Director of a Championship club last regarding the state of the EFL at the moment. He described the FFP reporting as farcical and indicated that the finance department of the EFL were pretty incompetent. Often he would phone the EFL's office, who are based in Preston, and ask Tad Detko (FD of EFL) queries regarding the reporting requirements. In a thick Lancashire accent, Tad would often respond with, "If it doesn't take the piss, I'm happy". It sums up the league's culture towards financial fair play and clubs have pushed their luck more and more. It is quite a contrast to the Premier League who are in constant communication with clubs and drive the reporting requirements. It sounds like those in charge of FFP at the EFL are simply not competent and perhaps do not have the capacity to monitor all 72 clubs.
  5. Conversely, you could argue that the opposite is true as two of the promoted clubs (Cardiff and Fulham) have been relegated straight away. Fulham were getting hammered most weeks and only picked up a more respectable points total once they had been mathematically relegated and the pressure was off.
  6. I watched Leeds u23s a few weeks ago against a Premier League outfit. They looked absolutely class and really took the game to the other team despite many of them being well below 23. I didn’t know that stat at the time though - it’s bloody impressive.
  7. The exciting Palace announcement will be made at 1pm...
  8. Given that Leko is in the frame to take a spot kick, this man is desperate to take a penalty and make himself a hero.
  9. I feel like Villa have made about seven changes!
  10. Kodjia, Adomah, Leko and Tammy all on the pitch. It's like a Bristol City forwards friends' reunited evening.
  11. Dean Elgar always seems to get runs against us. Such a dangerous player and how I wish he was back.
  12. Fair play to him, that is a fantastic thread. The football league and premier league are clearly failing in their duties to promote financial sustainability. I can't imagine how hard it must be to operate or own a League Two club in the north west with some massive Premier League clubs on your doorstep and the amount of football which is televised these days. It can't be long before more of these historic clubs at the bottom of the ladder cease to exist.
  13. ITK on this one. It will be announced this week.
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