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davieG

'We're officially FFP compliant' - LCFC Financial Results 2013/14

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Who has said they are crooks, or even intimated they are. BUT... how can you not raise an eyebrow about a couple of things.

 

A new multi-million pound marketing and licensing deal, signed with Sheffield-based agency Trestellar.

Turnover for Sponsorship, executive suites, advertising and other income up £11m on the previous season.

Board member of Trestellar up until about a month ago was Sir Dave Richards.

Sir Dave Richards was the man said to be joining us to help with FFP when the DOF rocked up.

Trestellar don't seem to have made any money since being incorporated (from the last accounts I saw).

 

Maybe Sir Dave has been using contacts to drum up business abroad, maybe he hasn't... maybe it's something, maybe it's nothing.

 

Interesting stuff.

 

Shows what a crock FFP is though

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At the risk of creating more pretty shapes Fez, I have a question for the accountants out there.

 

As I understand it, a loan is a long term liability which appears on the balance sheet, if it is written off by the loaner how does that flow to the bottom line in one year?

 

The only way it can effect the profit & loss statement is by reducing the interest cost of the loan over the year.

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The most pathetic attempt to avoid a fine. Whoever is responsible for this debacle needs sacking. we've sold our rights to a company who has never filed any accounts !

It's not even a good enough ruse to be dodgy

Tbh, I wouldn't be surprised if the isn't a legal case to answer on this. You can go around raising fictitious invoices to increase income.

I'm embarrassed. All this bollox about how we managed to reduce our losses. the loss is exactly the same as it was the previous year.

infact I'm not only embarrassed, I'm ashamed.

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The most pathetic attempt to avoid a fine. Whoever is responsible for this debacle needs sacking. we've sold our rights to a company who has never filed any accounts !

It's not even a good enough ruse to be dodgy

Tbh, I wouldn't be surprised if the isn't a legal case to answer on this. You can go around raising fictitious invoices to increase income.

I'm embarrassed. All this bollox about how we managed to reduce our losses. the loss is exactly the same as it was the previous year.

infact I'm not only embarrassed, I'm ashamed.

Of course losses have been reduced, had we not been promoted the £10m in bonuses wouldn't have been paid. The only question mark is trestrellar and how much they paid for the rights.

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What did you all expect.

Personal fortune up from 1B to 1.8B in 12 months selling duty frees from 2 shops?

 

Seems very over the top to me and never have trusted the 100%

 

Worth about 200m when they bought us pile in 100m and soon worth nearly 2billion.

I do see some tears in this.

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Of course losses have been reduced, had we not been promoted the £10m in bonuses wouldn't have been paid. The only question mark is trestrellar and how much they paid for the rights.

Sorry babs - you're right re the bonus' paid. I'm just astounded that these were not delayed until this season. can't believe those due their payment wouldn't have understood the importance of this re FFP. we wouldn't have needed to get involved in this ridiculous sham.

Sylo. - it's five airports and three 'Intown' shops, the Bangkok one is massive at 12000 m2

I do agree that 800million dollars is a big increase in one year.

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Sorry babs - you're right re the bonus' paid. I'm just astounded that these were not delayed until this season. can't believe those due their payment wouldn't have understood the importance of this re FFP. we wouldn't have needed to get involved in this ridiculous sham.

Praps the rules for bonus not FFP say they have to be paid in the season they apply too.

 

Anyway did not think bonuses counted in FFP like ground and acadamy development.

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Praps the rules for bonus not FFP say they have to be paid in the season they apply too.

 

Anyway did not think bonuses counted in FFP like ground and acadamy development.

that has to be an anomoly though. All teams will have to pay a promotion bonus so they will clearly have issues with FFP if promoted. surely they would be excluded as you say? If you are right that a bonus has to be paid within the season it is earned, then the promotion bonus wouldn't exist and surely just be renamed - PL bonus and paid the following season. any staff that didn't stay to earn theirs could be paid without it materially affecting the P and L account. Doesn't seem too difficult to work out a way around it with proper planning as opposed to the shenanigans we appear to have got involved in.

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that has to be an anomoly though. All teams will have to pay a promotion bonus so they will clearly have issues with FFP if promoted. surely they would be excluded as you say? If you are right that a bonus has to be paid within the season it is earned, then the promotion bonus wouldn't exist and surely just be renamed - PL bonus and paid the following season. any staff that didn't stay to earn theirs could be paid without it materially affecting the P and L account. Doesn't seem too difficult to work out a way around it with proper planning as opposed to the shenanigans we appear to have got involved in.

No if it is a promtion bonus it would go down in last season figures and it does say the 9.4m bonus does not count as a loss in FFP in the merc.

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No if it is a promtion bonus it would go down in last season figures and it does say the 9.4m bonus does not count as a loss in FFP in the merc.

So was our loss 20 mill nett of the bonus payment or gross ?

if the former, we haven't improved our losses from the previous campaign?

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If bonus payments are not counted in FFP is that not a way round it.

 

You sign players on say 5k a week and where they would want 15k offer them a 20k win bonus.

Make the fvckers earn the money for once.

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If bonus payments are not counted in FFP is that not a way round it.

 

You sign players on say 5k a week and where they would want 15k offer them a 20k win bonus.

Make the fvckers earn the money for once.

Might have worked before bosman Sylo but the players and agents hold most of the cards now. no chance they would agree to a low basic and big bonus.

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Might have worked before bosman Sylo but the players and agents hold most of the cards now. no chance they would agree to a low basic and big bonus.

Seems ffp may hold the cards now how many clubs can be held to ransom.

 

Praps ffp will not in the long run be a bad thing.

 

But it still allows the big earning clubs (Top of the prem champions league) to get bigger.

 

The weak grow weak as the strong grow stronger.

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What did you all expect.

Personal fortune up from 1B to 1.8B in 12 months selling duty frees from 2 shops?

Seems very over the top to me and never have trusted the 100%

Worth about 200m when they bought us pile in 100m and soon worth nearly 2billion.

I do see some tears in this.

Two major airport complexes with footfall of about 150k per day, and that's not even half of their business interests. Why didn't you trust them, exactly? Because they're foreign?
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Will be interesting to see how FFP deal with us and QPR over this. Even if it's obvious that it's king power money rerouted, if the club just keep a hard line and say it's a legitimate business deal, the onus is on FFP to prove that it's not. And how can they?

Ultimately just shows how much of a farce FFP is. We've got owners who want to put money into their own business but are being prevented from doing so to comply with rules intended to protect clubs. This does nothing to protect clubs whatsoever.

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Two major airport complexes with footfall of about 150k per day, and that's not even half of their business interests. Why didn't you trust them, exactly? Because they're foreign?

it says his worth is up to 1.8, which could mean his stock investments have ballooned in a bear amrket, not that his companies turnover has gone up astronomically.

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Will be interesting to see how FFP deal with us and QPR over this. Even if it's obvious that it's king power money rerouted, if the club just keep a hard line and say it's a legitimate business deal, the onus is on FFP to prove that it's not. And how can they?

Ultimately just shows how much of a farce FFP is. We've got owners who want to put money into their own business but are being prevented from doing so to comply with rules intended to protect clubs. This does nothing to protect clubs whatsoever.

the deal is valued by  the FL. you can't sign a deal worth 10 million for something if it's really worth 500k just like you can't undervalue your house to avoid paying duty.

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the deal is valued by the FL. you can't sign a deal worth 10 million for something if it's really worth 500k just like you can't undervalue your house to avoid paying duty.

Tricky thing to value though, marketing rights in the far East over five years.. Who knows how much our popularity could potentially soar over there in that time. I'm sure that kind of deal is worth a lot more than £10m for the big clubs. As long as the club can make a reasonable argument that the deal could have been worth what was paid, I can't see how anyone can say otherwise.

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Two major airport complexes with footfall of about 150k per day, and that's not even half of their business interests. Why didn't you trust them, exactly? Because they're foreign?

Don't know there other business never heard anything about it. But is KP not 25 years old so 200m in 23yrs and 1.6B in 2 years.

 

Most of my mates are foreign I am no racist.

I just look at football as not a money making business few clubs make money.

Our owners walk in and start pissing money up the wall about 150m.

 

That is going to take years to recoup if ever unless we won the league.

Also to compete in the prem they will have to lay out more this year has proven that.

 

We are not a world wide brand and would take a title win and champions league win to do that at least.

I also don't buy into the we bought it because Top went to a league cup final while at uni.

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Don't know there other business never heard anything about it. But is KP not 25 years old so 200m in 23yrs and 1.6B in 2 years.

The figures from the forbes rich list aren't to be relied on. They only go on publicly available information and information voluntarily given to them by people who want to get on the list. Their real net worth might have even gone down over the last few years for all forbes know.

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