Financial Fair Play investigation

[evertony]

In some ways it’s a positive.

1. It amplifies the Boards total incompetence;
2. It puts significant pressure on the majority shareholder to put his house in order;
3. It possibly strengthens the position of potential buyers as in effect it’s devaluing the Club somewhat;
4. It adds more fuel to the anti-Board protests;
5. It may mean we can’t afford to dish out the stupid wages/contracts we’ve foolishly done in the past which has a two-fold benefit....those mercenaries only here for the dough get moved on and it puts significant focus on the DoF and recruitment team to do a much better job unearthing a few diamonds from outside of the EPL.


I wonder if Kenwright still believes that rubbish about other clubs thinking “what would Everton do”?

 

[kenada_blue]

You cannot be seriously thinking we’ll come out of this with a £100k fine?

Sorry, in excess of £100,000 it says in the rule book.

 

[bluenorthwarrior]

A minor point in all this arguably, but as I have just had my notification of phone bill increasing by inflation +3.9% (so 14.4%) I wonder how long 105m has been the allowable loss number?

Must be at least 4 years, and transfer inflation is way above normal inflation so the value of a footballing 105m loss 4 or 5 years ago must be close to 200m now?

May be a legal argument in this as to compete as a non-global club inevitably requires losses just to stand still (I know some will say we all agreed to the number etc. but that doesn't prevent legal argument).

 

[kenada_blue]

…. just as you start to get a bit of hope another blow stems from the gross mismanagement of our club, it’s all so depressing.

That's the problem isn't it. It's as if Moshiri actually wants us to cease to exist and take the hit financially.

Bar points deduction and administration...he's done almost everything else

 

[Terrarian]

Feels like a witch-hunt this. We've spent considerably less than some sides, regardless of income, Villa for instance. Why does it feel like it's always us that gets targeted. I hate this League with a passion.

I hope we fight this in court and get these stupid rules gone.

 

[jonnyboy316]

Here’s where Everton do an Everton.

This drags on. We get to the end of this season and survive. We stay in the league and get rid/sell a few players in the summer. Mina, Gbamin, Gomes, Braithwaite, Davies.
Dyche signs some players and we become this big horrible physical team like Burnley but with better players. We start next season really well, we are in the Champions League spot ahead of Liverpool.

Unbelievable. Everton finish 4th! Boom, a European ban is this punishment for this rule break. We leave Goodison into our new stadium, aptly named The Bill Kenwright Bowl, a load of players leave because they want European football, Liverpool get awarded the Champions League spot ahead of us and in 30 years time we will all look back and say, ‘we was banned from Europe again’ and ‘that was the moment’.

We won’t be allowed to play European football anytime for the foreseeable as they have stricter rules around finances

 

[Sadken]

The timing of this is strange, the team is picking up points, people are out to get us.

 

[The binman chronicles]

I wouldn’t put it past Everton to employ Jonnie Cochran as our lawyer, in the hope that he deploys the Chewbacca Defense.

"Ladies and gentlemen of the jury, this is Moshiri's wallet, it is too small to fit 105 million pounds in it...and even if it did his trouser pocket would be too small for it to fit in, come up and show them Farhad..."

There is next to no chance of a points deduction.

Worst case is a transfer embargo.

Back dated to January one hopes.

 

[Hinchcliffe's Corner]

We won’t be allowed to play European football anytime for the foreseeable as they have stricter rules around finances

Fortunately I don't see that being an issue

 

[The binman chronicles]

These are the punishments Uefa dole out:

• Vojvodina – fined €10,000 (December 21, 2012)
• Arsenal Kyiv – fined €45,000 (December 21, 2012)
• Osijek – fined €100,000 (December 21, 2012)
• Dinamo București – fined €100,000 (December 21, 2012)
• Rapid București – fined €100,000 (December 21, 2012). Missed deadline to pay outstanding payments and was handed a one-season ban from European competition (March 31, 2013).
• Hajduk Split – fined €40,000 (December 21, 2012). Withheld prize money for not paying outstanding payments (September 20, 2013)
• Malaga – fined €300,000 and handed a one-season ban from European competition (March 31, 2013)
• Astra Ploiești – withheld prize money for not paying outstanding payments (September 20, 2013)
• Metalurh Donetsk – withheld prize money for not paying outstanding payments (September 20, 2013). Handed a one-season ban from European competition and fined €80,000 (December 20, 2013).
• Skonto – withheld prize money for not paying outstanding payments (September 20, 2013). Handed a one-season ban from European competition and fined €40,000 (December 20, 2013).
• Trabzonspor – withheld prize money for not paying outstanding payments (September 20, 2013)
• Zrinjski Mostar – withheld prize money for not paying outstanding payments (September 20, 2013)
• Petrolul Ploiești – handed a one-season ban from European competition and fined €50,000 (December 20, 2013).
• Pandurii Târgu Jiu – fined €40,000 (December 20, 2013)
• Śląsk Wrocław – fined €20,000 (December 20, 2013)
• Anzhi Makhachkala – fined €2 million, of which €1 million was suspended. Squad for UEFA competitions reduced to 21 players, and one-year squad salary restrictions imposed (May 16, 2014)
• Bursaspor – fined €200,000 fine, and one-year squad salary restrictions imposed (May 16, 2014)
• Galatasaray – fined €200,000, and one-year squad salary restrictions imposed (May 16, 2014)
• Levski Sofia – fined €200,000, and one-year squad salary restrictions imposed (May 16, 2014)
• Rubin Kazan – fined €6 million, of which €3 million was suspended. Squad for UEFA competitions reduced to 21 players, and transfer spending restrictions and two-year squad salary restrictions imposed (May 16, 2014)
• Trabzonspor – fined €200,000, and one-year squad salary restrictions imposed (May 16, 2014)
• Zenit Saint Petersburg – fined €12 million fine, of which €6 million was suspended. Squad for UEFA competitions reduced to 22 players, and transfer spending restrictions and two-year squad salary restrictions were imposed (May 16, 2014)
• Paris Saint-Germain – find €60 million, of which €40 million was suspended. Squad for UEFA competitions reduced to 21 players, and transfer spending restrictions and two-year squad salary restrictions imposed (May 16, 2014)
• Manchester City – fined €60 million, of which €40 million was suspended. Squad for UEFA competitions reduced to 21 players, and transfer spending restrictions and two-year squad salary restrictions imposed (May 16, 2014)
• Astana – fined €2 million, of which €1.5 million was suspended. Squad for UEFA competitions reduced to 22 players, and transfer spending restrictions imposed. Required to break even by 2018 (May 20, 2016)
• Dinamo Zagreb – fined €200,000. Squad for UEFA competitions reduced to 23 players, and required to break even by 2016 (May 20, 2016)
• Fenerbahçe – fined €7.5 million, of which €5.5 million was suspended. Squad for UEFA competitions reduced to 22 players. Transfer spending restrictions imposed, required to reach a defined employee benefit expenses to revenue ratio, and required to break even by 2019 (May 20, 2016)
• Trabzonspor – fined €2 million, of which €1 million was suspended. Squad for UEFA competitions reduced to 22 players. Transfer spending restrictions imposed, required to reach a defined employee benefit expenses to revenue ratio, and required to break even by 2018 (May 20, 2016)
• AC Milan – banned from European competitions for a year (June 28, 2019)

Reminds me of the list that was added to another thread about FFP and my response to that was...

Post in thread 'Time To Break FFP?' https://www.grandoldteam.com/forum/threads/time-to-break-ffp.110621/post-7930553

 

[Nealroy]

If there is a bugger agenda at play here in terms of why thus has suddenly happened when it seemed the PL were fine with us til now, it's worth remembering there's a war going on within the PL at the moment between the american owners and clubs owned through the oligarch/sovereign wealth model. There are more American owners/primary investors than ever now and they will be very concerned to set some ground rules for the Saudis to follow at Newcastle. I see us and the city investigation as the mode they're using to do this.

 

[Yarrgh]

In a strange way though, they set the precedent. It will not take a huge lawyer to say, 1 breach, in Covid related seasons, is a lot less minor than 100 breaches over 10 years.

It may be the PL may be benchmarking too. If we accept say a suspended sentence (and agree to get accounts in order within set time frame) it gives an anchor for the PL to work off with City.

Didn't consider this aspect. The knives are out for City. A little jab in the ribs for Everton to set them up is probably worth it.

 

[Neiler]

It's a 3 year rolling cycle so yes we're adding the new year but the oldest year is dropping off. That oldest year was a 13m loss so the new year just has to equal or better that 13m loss to be compliant. In theory.

Just a quick question, I'm not sure how this can be right. And Year 0 in your projection is a 13m loss. And we did not fail STCC. So surely Year 3 just as to be better than -13m?

Ah get you both now, what i prob haven't factored into the raw figures is the allowance for youth development, women's football and community - prob somewhere in around 15 mill, so £45 mill over the three years you knock off the bottom line of the £54mill profit figure i posted. give or take on the loose figures - not a million miles off a 13mill loss, so you can see the clubs case actually.

Thanks for point it out.

 

[evertony]

If there is a bugger agenda at play here in terms of why thus has suddenly happened when it seemed the PL were fine with us til now, it's worth remembering there's a war going on within the PL at the moment between the american owners and clubs owned through the oligarch/sovereign wealth model. There are more American owners/primary investors than ever now and they will be very concerned to set some ground rules for the Saudis to follow at Newcastle. I see us and the city investigation as the mode they're using to do this.

Great point

 

[Bedfordblue]

Im confused.

1: It was publicised that we were 'working with the premier league' and opened our books to them.

2: The accounts were passed.

3: Leeds and Burnley complained about accounts which had been passed.

4: Suddenly almost a year after their complaint were charged. Everything passed to an independent committee who will see that the accounts were passed after we worked with the league.

How on earth can passed audited accounts be deemed chargeable?

Makes no sense at all to me.

Not to mention the sheer brass neck of Leeds complaining having tried to buy themselves success under Ridsdale.