Financial Fair Play investigation

[Saint Domingo]

It has gone way past the stage of an inquiry.

The first time we posted losses of £15m+ we had to provide the Premier League with financial projections for the next two years plus evidence of secure funding.

Quite obviously we haven't been able to fulfill the financial projections we made. That means we have been charged with failing to meet P&S losses and have been charged and referred to a 3-man Independent Commission.

Well let’s see what the independent commission make of it then. Look if Everton actually end up getting punished for something then fair enough we’ll have to take that. I’m just not sure why people are acting like a giddy kid on Christmas morning at the thought of the football club they support potentially getting in trouble.

 

[Rita_Poon]

Well let’s see what the independent commission make of it then. Look if Everton actually end up getting punished for something then fair enough we’ll have to take that. I’m just not sure why people are acting like a giddy kid on Christmas morning at the thought of the football club they support potentially getting in trouble.

TBF, this is just another string to Troubles bow.

 

[St Domingos]

Approaching match thread levels of bedwetting in here

ha ha, nice one lad

 

[davek]

Nah, he was sold at the time to satisfy the accounts. Was widely known.

The Prem have referred us here because someone will have moaned and they want things to be signed off elsewhere. A fine, nothing more

It's far more complex than that. There are permissible deductions that kick in between the raw accounts and the P&S calculation. Things Like money spent on the Women's team, Youth teams and spending in the community.

Then there is the big kicker losses due to COVID. Even though COVID is pretty much over we presumably could be claiming losses for COVID. For instance, still paying wages for players we would have expected to have offloaded if it were not for the effect COVID had on the transfer market.

Let the have a go accountants have their day. They obviously know what they’re talking about as they’ve found a table with three numbers on it

Death Cult wont be denied here. They've seen us rally on the pitch, so now they're banking on Everton getting a points deduction to relegate us.

Telling them they're mistaken with their outlandish projections just makes them even more rabid.

 

[St Domingos]

Some wet farts have unintended and regretable outcomes.

is right.

 

[marnie]

Some wet farts have unintended and regretable outcomes.

When was a wet fart EVER intended

 

[HalfTimeSayers]

Given it looks like we could be quite a way above the permitted losses it would be logical that we have indeed been co-operating with the PL since the Covid accounts went in, but with both parties fully aware we’d be in breach as soon as these accounts were submitted. There are few surprises in accounting.

The sharing of info and authorisation of spending, coupled with cost cutting, player sales and very very very lean transfer incomings meaning we get a lesser penalty as we have constructively tried to mitigate any benefits we have had from past overspending (hahaha I know). Probably a chunky fine.

Only odd thing would then be the club statement. Maybe the understanding was this would all be done covertly, given our co-operation and the fact we’ve been shafted by Putin before we’ve recovered from Covid. But the PL’s need to act tough in the face of future regulation has forced them to publicise it.

 

[MikeH72]

If, we get hit hard, then the Premier League darlings will be as open as a whore on a Prague stag do. So i'll say with chest, a fine and a possible embargo on player incomings. And to all the clubs lusting after our blood, be very careful what you wish for, it's coming to a cinema near you soon.

Are they gonna start losing £100m per year as well or something?

 

[MikeH72]

Death Cult wont be denied here. They've seen us rally on the pitch, so now they're banking on Everton getting a points deduction to relegate us.

Telling them they're mistaken with their outlandish projections just makes them even more rabid.

It isn’t “outlandish” to literally post officially published club accounts Dave.

 

[good times bad times]

We clearly haven’t done that.

View attachment 207310

According to Solehkol though, the 3 year rolling period has been extended to 4 years due to Covid. This means that the 2021/22 season will count as well, and the figure for Year 3 will be the average of 2020/21 and 2021/22. As Richarlison was sold in the 2021/22 financial year his sale would then count as part of the average for Year 3.

I'm guessing that this is why the club are confident that they haven't broken any rules. Whatever, it remains a scandal that we have even been put in this position.

 

[Rita_Poon]

You've earned your Duffski this evening K.Azul @chicoazul

 

[gwladysnight]

According to Solehkol though, the 3 year rolling period has been extended to 4 years due to Covid. This means that the 2021/22 season will count as well, and the figure for Year 3 will be the average of 2020/21 and 2021/22. As Richarlison was sold in the 2021/22 financial year his sale would then count as part of the average for Year 3.

I'm guessing that this is why the club are confident that they haven't broken any rules. Whatever, it remains a scandal that we have even been put in this position.

No it is UEFA's FFP that has rolled two accounting periods into one to allow for COVID losses.

The Premier League chose a different path and allowed clubs to exclude losses that could be attributed to COVID.

 

[MIKE85]

No I just live in a world where I’ll wait until something is actually proven before I get unnaturally excited at the idea of Everton having messed up again.

Also where have I said Everton are competent, don’t get things wrong, and we’re ran perfectly with everything being wonderful and magical? Is this how you’re always right all the time because you just invent what you’d like someone to have said rather than what they actually have?

Everything you need is here about the club's financial position. No journos twisting the facts but the club's own official reports.

Statement Of Accounts

Everton Football Club

www.evertonfc.com

 

[davek]

People need to stop reading RAWK and their 'clued up' pronouncements on this.

The worst thing this can do to us is to puncture the team's confidence.

 

[Swartzy]

When was a wet fart EVER intended

Depends whose face your sitting on at the time of release