FFP breached!

[Brizzle Fox]

And apparently we're going to be levied with a £20m fine according to the Daily Fail. Ouch

Would post the link but feel dirty enough as it is browsing their website.

[chapero82]

I thought we were in line with it

[Saxondale]

http://www.dailymail.co.uk/sport/football/article-2863831/Leeds-Leicester-QPR-clubs-facing-transfer-bans-fines-spending-Championship.html

Hopefully bollocks.

[Dan]

I'm not going to pretend I can understand FFP. It's been full of inconsistency to me.

[The Doctor]

Given Susan Whelan and a few others said we were in line with it, sounds like definite bollocks - I trust those in charge of our purse strings to know how far they've been opened more than the daily mail, given it's track record in being wrong about everything.

[Stadt]

Yep, definite bs. 

 

There'd be about 15 premier league clubs more likely to break it than us.

[Saxondale]

I think they've basically just reported that we showed a loss in the last accounts and made a story out of it.

Nobody understands FFP - Mail writers included.

[AKCJ]

Have we released last season's losses then?

 

Sounds like the journo has gone along with the 'big spending Leicester' tag.

[Deucalion]

Saying this is true, and I kind of suspect that it isn't, then we will be shafted if we do go down, as the squad which got us promoted is too expensive for the Championship.

 

We will be faced with a major overhaul and the young players we are staking our future on would be on there way.

[MC Prussian]

Well, the official breakdown of last season has not been made public I think, so this all remains open to speculation.

 

All the Fail writes about is the mention of a fee of £20m, but unlike with the Leeds/Cellino story, which they expand a lot further, there is no further talk about LCFC.

[VLC86]

Well, the official breakdown of last season have not been made public I think, so this all remains open to speculation.

All the Fail writes about is the mention of a fee of £20m, but unlike with the Leeds/Cellino story, which they expand a lot further, there is no further talk about LCFC.

The section regarding us says up to £20m so they certainly look to be guessing.

[Captain...]

It's the same bollocks that has been trotted out every time FFP comes up. If we report the same losses as this time last year we will be hit with a massive fine, we won't we offset as much loss as possible on the year before FFP to give us the best chance of being compliant. Which means our previous accounts losses were artificially increased and that this year's accounts will be nothing like last year's. This doesn't mean we won't get fined but it does mean something went horribly wrong if it is 20 million quid.

[Guest ttfn]

Absolutely no chance of a £20 million fine.

That's the fine we would have got had our 2012/13 accounts been required to be subjected to FFP.

I'd be surprised if we got a fine of more than a couple of million. Costs were cut further in 2013/14, we don't have a £5 million squad value impairment and we don't have any interest costs (and might even be able to write back the accrued interest from 2010-13 giving us a profit on interest).

[MooseBreath]

Lazy journalism that shows no respect to the club and even damages its reputation. We should all write in to the mail and demand them to issue an apology when this turns out to be complete bollocks.

[lcfcnsk]

[Guest ttfn]

https://twitter.com/mikemccarthy/status/541517680092913664

We may not have published the official UK GAAP accounts but I'm pretty sure that we have to send some FFP compliant accounts to the Football League by 1 December.

[Callabinho]

Shitty Bull.

[Fox92]

Just seen it on BBC sport. Thought we were in line with it, too?

[LCFC Rennie]

Hull are going to get fined apparently. Not surprising, they have never been a stable club. Hope they go into administration to be honest.

[VLC86]

Hull are going to get fined apparently. Not surprising, they have never been a stable club. Hope they go into administration to be honest.

You really wish another team went through this?

As for never being a stable club? We have gone into administration twice, people in glass houses.....

[Sir Fynwy]

Until last years accounts are filed no one has a clue about this other than the club management.

[Guest ttfn]

Until last years accounts are filed no one has a clue about this other than the club management.

And the Football League.

We should have filed accounts with the league by now.

[inckley fox]

You really wish another team went through this?

As for never being a stable club? We have gone into administration twice, people in glass houses.....

 

When was the second time? Are you referring to the end of Leicester Fosse and so on?

[ALC Fox]

I'm a bit perplexed that this even made the papers. They've still not forgotten the "big-spending" tag we were given when Sven was in charge. Pearson has done an admirable job cutting costs while producing the best season we've had in 10 years.

That being said, there are a lot of things that we as fans are not privy to: agents' fees, player bonuses, the real value of these "undisclosed" fees perhaps. I find it hard to believe that we seriously breached FFP last season, but you never know.

[Webbo]

Any business receiving a £20million fine is going to make the news.