Premier League cannot take action against the club for exceeding the relevant PSR threshold

[urban.spaceman]

 

 

"... I fear I may have upset the @premierleague and @EFL even more of late, but if they will be so kind to do the same I shall of course give them the thanks & accolades such a good and fair approach to governance deserves!"

[foxfanazer]

5 minutes ago, urban.spaceman said:

 

 

"... I fear I may have upset the @premierleague and @EFL even more of late, but if they will be so kind to do the same I shall of course give them the thanks & accolades such a good and fair approach to governance deserves!"

Get the statue built 

[ClaphamFox]

6 minutes ago, urban.spaceman said:

 

 

"... I fear I may have upset the @premierleague and @EFL even more of late, but if they will be so kind to do the same I shall of course give them the thanks & accolades such a good and fair approach to governance deserves!"

I love the way he manages to troll them mercilessly while also remaining so polite and professional. A proper lawyer.

[Lambert09]

10 minutes ago, urban.spaceman said:

 

 

"... I fear I may have upset the @premierleague and @EFL even more of late, but if they will be so kind to do the same I shall of course give them the thanks & accolades such a good and fair approach to governance deserves!"

they are going to end up hiring this guy to draft the rules and then we are all ****ed 

[Bourbon Fox]

8 hours ago, Lambert09 said:

they are going to end up hiring this guy to draft the rules and then we are all ****ed 

At least they'd make sense

[Vazman]

8 hours ago, Lambert09 said:

they are going to end up hiring this guy to draft the rules and then we are all ****ed 

I doubt he would bother, he is busy making loads of money following "their" rules...

[K789]

pl appealing decision?

 

 

[Mickyblueeyes]

[fox_up_north]

No, keep digging

[lfu]

3 minutes ago, Mickyblueeyes said:

If they appeal and lose then can Richard Masters' position still be considered tenable? The PL have already spaffed an exorbitant amount of money up the wall on legal bills for frivolous cases.

[Foxdiamond]

5 minutes ago, lfu said:

If they appeal and lose then can Richard Masters' position still be considered tenable? The PL have already spaffed an exorbitant amount of money up the wall on legal bills for frivolous cases.

To further confirm the PL is even more incompetent 

[UniFox21]

52 minutes ago, Mickyblueeyes said:

Do we just keep appealing to different independent boards until we run out of independent people?

Edited 16 October 2024 by UniFox21

[DezFox]

They will get points back somehow. It’s not over. 

[Spudulike]

57 minutes ago, lfu said:

If they appeal and lose then can Richard Masters' position still be considered tenable? The PL have already spaffed an exorbitant amount of money up the wall on legal bills for frivolous cases.

I would hope that LCFC were awarded costs after the last hearing.

[BigGibbo]

Get sh!t on you oligopolous c*nts!

[JimJams]

When we survive they can take off the difference between relegation -1.  Then they can save face and everyone is happy.

[Lambert09]

15 hours ago, JimJams said:

When we survive they can take off the difference between relegation -1.  Then they can save face and everyone is happy.

why? we lose money per place we drop… and then are more likely to fail the next psr cycle. They can get fooked 

Edited 18 October 2024 by Lambert09

[JimJams]

I wouldn't worry too much about dropping a place!

[Chrysalis]

21 hours ago, Lambert09 said:

why? we lose money per place we drop… and then are more likely to fail the next psr cycle. They can get fooked 

What a great rule eh.

 

Spend X amount, finish 8th and you financially responsible, spend the same amount and finish 18th, you running the club at too high a risk we need to punish you even though the owner has committed to covering all losses.

[Lambert09]

1 hour ago, Chrysalis said:

What a great rule eh.

 

Spend X amount, finish 8th and you financially responsible, spend the same amount and finish 18th, you running the club at too high a risk we need to punish you even though the owner has committed to covering all losses.

it’s only fair to do that if you can sell yourself a hotel 

[davieG]

https://www.leicestermercury.co.uk/sport/football/football-news/leicester-city-premier-league-meeting-9650094

 

Leicester City Premier League meeting agenda revealed after legal challenge and 'misleading' claim
Latest Leicester City news from LeicestershireLive as Premier League clubs will meet on Tuesday to discuss changes to the top flight’s financial rules

ByJames PallattJamie Gardner PA Chief Sports Reporter
15:12, 21 OCT 2024

Premier League clubs will meet on Tuesday to discuss changes to the top flight’s financial rules in the wake of a legal challenge by Manchester City.

Clubs, including Leicester City, will consider how to include shareholder loans within the league’s associated party transaction (APT) rules, after an arbitration panel said the rules breached competition law because they excluded such loans.

Tuesday’s meeting is the first gathering of all clubs since the panel judgement was published on October 7.

 

City accused the league of “misleading” clubs about what the judgement meant, with the four-in-a-row champions arguing all the APT rules are now void.

The Premier League has sought clarification from the arbitration panel over the implications of its judgement, but in the meantime is pressing on with addressing the aspects of the rules the panel said were unlawful.

The APT rules seek to ensure commercial deals between clubs and entities linked to their ownership are done at fair market value (FMV), to avoid such deals being artificially inflated to boost revenue.

Clubs were asked to supply information to the league by October 10 about the mix of shareholder loans and loans converted to equity they currently have, and have had in the last three years.

The understanding among clubs is that only new shareholder loans could be assessed for FMV, rather than existing ones. An FMV assessment might look at what rate of interest would be charged on such a loan in the open market, which could vary from club to club depending on their credit score.

Crucially, this interest cost would then need to be included within a club’s calculation under the profitability and sustainability rules (PSR) and potentially put more clubs at risk of breaching those rules.

The PA news agency understands there will not be a vote on any rule changes at Tuesday’s meeting.

The rules must also be changed to give clubs an opportunity to access databank information being relied upon as a comparison by the Premier League board while it is making an FMV assessment, so that clubs can make representations based on that data before a decision is made.

The tribunal found it was procedurally unfair not to allow clubs to comment on the data before the league’s board makes a decision.

Some amendments to the rules voted through in February are also set to be rewound to the wording prior to that vote.

The proposals to be discussed by clubs on Tuesday have already passed through two league working groups, including the financial controls advisory group (FCAG) which features the City Football Group’s chief financial officer Ingo Bank.

[FrankieADZ]

dunno how true all this is

[sm1]

The PL legal team is going to encourage appealing, they can see the extra millions they can make. The pigs with their snouts in the trough will always want more. 

[Clever Fox]

What's needed is simpler Black and White rules , not more chicanery.

The simple answer is to Ban all Loans in or out of Clubs.

Especially Loans out as they are very often used to stripp out Assets. Like the Glaziers done for years at Utd.

 

As most Prem clubs have wealthy Owners, They should be prepared to just put money straight into the Club. Without looking for a way to get it back.

All they're doing is increasing the value of the Club by putting money in which they will retrieve if and when they sell the Club.

[st albans fox]

5 minutes ago, Clever Fox said:

What's needed is simpler Black and White rules , not more chicanery.

The simple answer is to Ban all Loans in or out of Clubs.

Especially Loans out as they are very often used to stripp out Assets. Like the Glaziers done for years at Utd.

 

As most Prem clubs have wealthy Owners, They should be prepared to just put money straight into the Club. Without looking for a way to get it back.

All they're doing is increasing the value of the Club by putting money in which they will retrieve if and when they sell the Club.

there is a saying that the quickest way for a wealthy person to lose some of that wealth is to buy a football club.  Not many football clubs make a profit.  I reckon we would be worth max £250m now. (And that’s gone up recently due to performances of players like mads and fats)

 

king power have basically written off way more than that over the period they’ve owned us.  
 

you can’t really put a value on the uplift of their brand over the period but I wouldn’t say that just investing cash into shares in a premier league football club is ever going to be retrieved unless you get lucky (or you employ very good people who get lucky).