headhunter Posted April 15, 2013 Report Share Posted April 15, 2013 Since it looks like we appear to be gold plating the legislative requirements associated with FFP I thought I would try to clarify in my own mind what it's all about. I don't know if anybody else has read this article but I thought it explained it well: http://www.financialfairplay.co.uk/resources/wsc0001.pdf I haven't seen the accounts for last year (July 2012) but SL could show his commitment to this club by doing an Abramovich and converting all his loans into equity. It would be a start to planning for the future. Link to comment Share on other sites More sharing options...
Mendip City Posted April 16, 2013 Report Share Posted April 16, 2013 Since it looks like we appear to be gold plating the legislative requirements associated with FFP I thought I would try to clarify in my own mind what it's all about. I don't know if anybody else has read this article but I thought it explained it well: http://www.financialfairplay.co.uk/resources/wsc0001.pdf I haven't seen the accounts for last year (July 2012) but SL could show his commitment to this club by doing an Abramovich and converting all his loans into equity. It would be a start to planning for the future. That's what I don't get.... SL can wipe the slate clean and change the business model. Trouble is the model is being changed (young players, no/low fees etc) but the business is still saddled with a massive debt. Link to comment Share on other sites More sharing options...
BS34Red Posted April 16, 2013 Report Share Posted April 16, 2013 Previously in league one our losses were around 5-6 million a year so if we can then we should be able to get within the 8 million. What I'm concerned about is in league one and two the accounts are updated regularly. So say we are on the limit of our budget and one of our gk's get injured and the other gets sent off and banned for 3 games. We then can't bring in a replacement. I understand the rules and agree with them however I feel the transfer window should be scrapped so teams have a means of raising money to fund emergency signings. Link to comment Share on other sites More sharing options...
headhunter Posted April 16, 2013 Author Report Share Posted April 16, 2013 That's what I don't get.... SL can wipe the slate clean and change the business model. Trouble is the model is being changed (young players, no/low fees etc) but the business is still saddled with a massive debt. Your last comment is not correct ("....business is still saddled with a massive debt") - if Lansdown converts his loans into shares the debt is extinguished. Link to comment Share on other sites More sharing options...
exiledinwatford Posted April 16, 2013 Report Share Posted April 16, 2013 Interesting. See the bit about QPR? When they were Champions they lost £25m and would have been charged another £17m in a special tax which would have been divided amonst the compliant clubs. Link to comment Share on other sites More sharing options...
headhunter Posted April 16, 2013 Author Report Share Posted April 16, 2013 Interesting. See the bit about QPR? When they were Champions they lost £25m and would have been charged another £17m in a special tax which would have been divided amonst the compliant clubs. That spreading of the monies levied on the defaulting clubs amongst those that are compliant seems a very fair way of doing things rather than it disappearing into a bottomless pit. Link to comment Share on other sites More sharing options...
grove park city Posted April 16, 2013 Report Share Posted April 16, 2013 So Cardiff City having spent wildly to buy the Championship were on their last set of figures £83,000,000 in debt having lost £13.5 million last year . So do they get fined , transfer block or points deducted for completely taking the piss. Link to comment Share on other sites More sharing options...
ashton_fan Posted April 16, 2013 Report Share Posted April 16, 2013 Previously in league one our losses were around 5-6 million a year so if we can then we should be able to get within the 8 million. What I'm concerned about is in league one and two the accounts are updated regularly. So say we are on the limit of our budget and one of our gk's get injured and the other gets sent off and banned for 3 games. We then can't bring in a replacement. I understand the rules and agree with them however I feel the transfer window should be scrapped so teams have a means of raising money to fund emergency signings. The 8 million limit isn't relevant in League One, it only counts if we manage to stay in the Championship. In League One the only rule is that the wage bill mustn't exceed 60% of the club's turnover, if it does then there is a transfer embargo on the club (as happened to Swindon earlier this season). Link to comment Share on other sites More sharing options...
downendcity Posted April 16, 2013 Report Share Posted April 16, 2013 So Cardiff City having spent wildly to buy the Championship were on their last set of figures £83,000,000 in debt having lost £13.5 million last year . So do they get fined , transfer block or points deducted for completely taking the piss. No, they get promotion to the riches of the premier league! The really frustrating thing is that with the bottomless pit of money that will slosh around the prem next season after the latest Sky deal, Cardiff will sort out their finances at a stroke. Even if they are then relegated the parachute payments will put them in a different financial league to most of the championship. I do wonder whether financial fair play is an oxymoron, as ffp seems to me to be creating an ever growing divide between the various divisions and no mopre so than the prem. How long before we see a Severnside derby again? Link to comment Share on other sites More sharing options...
grove park city Posted April 16, 2013 Report Share Posted April 16, 2013 No, they get promotion to the riches of the premier league! The really frustrating thing is that with the bottomless pit of money that will slosh around the prem next season after the latest Sky deal, Cardiff will sort out their finances at a stroke. Even if they are then relegated the parachute payments will put them in a different financial league to most of the championship. I do wonder whether financial fair play is an oxymoron, as ffp seems to me to be creating an ever growing divide between the various divisions and no mopre so than the prem. How long before we see a Severnside derby again? That's my take on it a super elite closed shop wads of cash for the big boys .Cardiff stick 2 fingers up to the taxman with their Sky money even if they come back down they continue to shop at Harvey Nicholls while City go through the sale rail at Primark. Link to comment Share on other sites More sharing options...
redcityman Posted April 16, 2013 Report Share Posted April 16, 2013 As far as I see it FFP was forced on the league by the top clubs with the backing of the premiership, we know finances needed sorting in football, but this was set up to stop anyone with money buying a unsuccessful club and turning into a Blackburn of twenty years ago. If they wanted finances sorted properly they could set wage caps in all leagues, but while we have players earning hundreds of thousands of pounds at Manu, Man City, Chelsea and so on the gap is just going to get wider. Closed shop via the back door. Link to comment Share on other sites More sharing options...
grove park city Posted April 16, 2013 Report Share Posted April 16, 2013 Won't be long until the Prem resembles the Scottish Prem same old teams sharing the title,Champions league placings and FA Cup as pointed out until some sort of wage cap comes in the ordinary League sides have no chance. Link to comment Share on other sites More sharing options...
Aizoon Posted April 16, 2013 Report Share Posted April 16, 2013 Won't be long until the Prem resembles the Scottish Prem same old teams sharing the title,Champions league placings and FA Cup as pointed out until some sort of wage cap comes in the ordinary League sides have no chance. Which, of course, is exactly what they intend. Link to comment Share on other sites More sharing options...
Monkeh Posted April 16, 2013 Report Share Posted April 16, 2013 As far as I see it FFP was forced on the league by the top clubs with the backing of the Premier League, we know finances needed sorting in football, but this was set up to stop anyone with money buying a unsuccessful club and turning into a Blackburn of twenty years ago. If they wanted finances sorted properly they could set wage caps in all leagues, but while we have players earning hundreds of thousands of pounds at Manu, Man City, Chelsea and so on the gap is just going to get wider. Closed shop via the back door. the prem league had nothing to do with it, it was decided and voted in by football league clubs only with a vast majority voting in favour Link to comment Share on other sites More sharing options...
friendlygas Posted April 16, 2013 Report Share Posted April 16, 2013 The fact is there are more little fish than big fish in the Football League and the FPP definitely favours the little fish but IMO does bring an element of sense to the bigger clubs and hopefully prevent or at least lessen the number of Portsmouth's in the League. Link to comment Share on other sites More sharing options...
downendcity Posted April 16, 2013 Report Share Posted April 16, 2013 As far as I see it FFP was forced on the league by the top clubs with the backing of the Premier League, we know finances needed sorting in football, but this was set up to stop anyone with money buying a unsuccessful club and turning into a Blackburn of twenty years ago. If they wanted finances sorted properly they could set wage caps in all leagues, but while we have players earning hundreds of thousands of pounds at Manu, Man City, Chelsea and so on the gap is just going to get wider. Closed shop via the back door. The big clubs don't want outside interference with players wages as they aren't bothered about the financial imbalance between ManU and, say, Wigan. What the big clubs are concerned about is their ability to compete with Barca, Real Madrid, Bayern etc. etc. and that means competing for the best players and that means offering top wages. Part of me really wants a European super league set up sooner rather than later, and once ManU , ManC, Arsenal, Chelsea et al have bu99ered off, then lock the door behind them and don't let them back. Get back to a football league with uniform rules for all clubs and that does not reward clubs for failure with huge parachute payments for relegation. As to your last point. With so many American owners I wonder how long it will before they look the NFL operation, i.e. no relegation from and no promotion to the league - a real closed shop that ensures that it is only the rich that get richer. Link to comment Share on other sites More sharing options...
grove park city Posted April 16, 2013 Report Share Posted April 16, 2013 Which, of course, is exactly what they intend. Ahh yes the New World Order wipe out the plebs leaving everything to the rich few Link to comment Share on other sites More sharing options...
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