6 + 2 Point Deductions

[ToffeeTim]

It is not a GAAP figure so the PL don’t need to follow GAAP.

The expense wasn’t allowed last year, what has changed?

If its capitalised its not treated as an expense in the accounts.

 

[Leylo]

Cant remember the presenter's name but he just stated that he never thought before that EFC were being targeted by the PL, but he does now.

Welcome back David

 

[matty1878]

Doesn't have a date on it Matty , could happen anytime.

oh f sake so they actually can

 

[Nymzee]

I'm obviously very annoyed about all this but I can't lie, watching Matty try wrap his head around this is quality content.

 

[Norwegian Cow]

Can we still fight the 6 pointer considering that forest got a much lower point deduction, or is that a closed door?

 

[Nymzee]

Can we still fight the 6 pointer considering that forest got a much lower point deduction, or is that a closed door?

Closed.

 

[Amokachi1995]

oh f sake so they actually can

Any points deduction this season needs to be wrapped up by 24th May. So would need time for another hearing plus appeal all done by then. Which feels unlikely.

 

[MIKE85]

Anyone broken down where the £16mill came from?

Last time it was £9mill if mitigations were considered (which they weren't).

This?

 

[LouReedwalkonthewildside]

Have they even started proceedings against City?

The independent panel hearing to review the case is due to start later this year, albeit Premier League chief Richard Masters refused to disclose the exact date when asked by a government committee in January.

 

[pedro789]

We congratulated ourselves for getting for getting 6pts.

Any other club would've gone nuclear.

PL now showed what a travesty the 10/6 PTS was.

 

[street end]

The premier league wanted to deduct us 5 points, probably the most corrupt league in the world.

 

[kenada_blue]

This?

No, I mean as breakdowns to reach that figure. The Esk etc were adamant we were within the threshold for those accounts, now suddenly it's £16+million over.

The last hearing the £9mill/£19.5mill was broken down (interest, player x etc).

 

[Jokerdan]

#bluelivesmatter

Let's get it on!

 

[msb]

I’m right on the brink of packing it in. More points deductions and the possibility of further charges is just too much, bad enough football being crap without all this shizzle.

 

[Gerryor]

I've never seen that audited numbers are the starting point to calculate the Adjusted Earnings Before Tax. You can make that assumption, but the calculation has nothing to do with GAAP so it's meaningless assumption and a meaningless starting point.

You can negotiate with auditors. I did last year. I didn't say you can tell an auditor what to do.

What has changed from last year to this year to allow the capitalization of those costs? If the loan documents have been amended, then it's open and shut in our favor.

If they were not, then we're either in breach of PSR or we're in breach of the loan documents. Both can't be true.

New auditors...doesn't seem like we were getting what we wanted out of the process.

https://www.[Publication is blackli...nials-finance-expert-shares-worrying-verdict/

My understanding is that all the clubs had to submit audited accounts to the FA within 3 months of year end. I might be wrong on that point, but it would make sense that the FA would demand that.

I agree you can negotiate and argue your point with auditors, sometimes you convince them, other times not. The club obviously did because the '22 accounts were restated. I presume they were able to demonstrate increase in interest charges as loans were drawn down to pay the builders.