cjslcfc Posted 15 December 2014 Posted 15 December 2014 Forest aren't aloud to buy any players in January. Can they do it quietly though??
dsr-burnley Posted 15 December 2014 Posted 15 December 2014 How can Burnley possibly fail FFP? Burnley haven't failed FFP. The accounts show a £7.6m loss but that's because of £7.9m paid in promotion bonuses to all and sundry. In the new-fangled world of hyper-logical accountancy, that has to be shown in this year's accounts even though the money comes out of next year's income. In real world terms, we made a profit. I dare say there are similar issues, or rather non-issues, with Leicester. I presume you will have paid promotion bonuses too?
Guest ttfn Posted 15 December 2014 Posted 15 December 2014 Burnley haven't failed FFP. The accounts show a £7.6m loss but that's because of £7.9m paid in promotion bonuses to all and sundry. In the new-fangled world of hyper-logical accountancy, that has to be shown in this year's accounts even though the money comes out of next year's income. In real world terms, we made a profit. I dare say there are similar issues, or rather non-issues, with Leicester. I presume you will have paid promotion bonuses too? Seems very logical to me. The bonus relates to 2013/14 performance so accrues in that year. It happens in every bonus-paying business in the world. In real world terms you made a £7.6m loss. But in any event promotion bonuses are exempt from FFP so you'll have passed it.
VLC86 Posted 15 December 2014 Posted 15 December 2014 How can Burnley possibly fail FFP? They clearly haven't but the Football League aren't exactly going to overlook them just because on the face of it their finances are in order. That comment is clearly aimed at us and QPR.
dsr-burnley Posted 15 December 2014 Posted 15 December 2014 Seems very logical to me. The bonus relates to 2013/14 performance so accrues in that year. It happens in every bonus-paying business in the world. In real world terms you made a £7.6m loss. But in any event promotion bonuses are exempt from FFP so you'll have passed it. There's arguments both ways. But my argument would be, you've got a small company ticking over at break-even and on the last day of the year, your whizzkids on the staff sign a deal to make £70m a year from next year. You're so impressed you give them £8m bonus, at once. Have you just had a disastrously bad year and lost £8m, or have you just had a breakeven year before the good times roll? No doubt that's why promotion bonuses are exempt, which I didn't know, so thanks for the heads-up. I think as far as Burnley are concerned, the Football League have got the accounts which on the face of it show a FFP uber-loss, the club has explained why, the Football League will nod their heads and say that's fine. Who knows, Leicester may be exactly the same - you have the extra leeway of the £5m donated by the owners too. The one thing you can be sure about is that the Daily Mail don't require facts to write a story.
MooseBreath Posted 16 December 2014 Posted 16 December 2014 They clearly haven't but the Football League aren't exactly going to overlook them just because on the face of it their finances are in order. That comment is clearly aimed at us and QPR. I don't think it's aimed at any of us specifically. They're just saying they haven't looked at the clubs who got promoted yet and will be doing so next. My money is on QPR failing massively, Burnley narrowly scraping through and us being quite comfortable.
hackneyfox Posted 16 December 2014 Posted 16 December 2014 Mercury have apparently reported that were ok.
Jace Posted 16 December 2014 Posted 16 December 2014 I can't see how any of the newspapers really know to be honest the information isn't public yet and even if they got there hands on it they wouldn't know what to do with it. Pure speculation
lcfcbobby Posted 16 December 2014 Posted 16 December 2014 don't know how this can be the case as we have not spent much over the past few years we got most of our players on the cheap or for free and I know our wages aint that high.
Jimmy Posted 17 December 2014 Posted 17 December 2014 Susan Whelan always insitsted we were FFP compliant, so unless she's totally incompetent as a CEO I doubt we've failed
VLC86 Posted 17 December 2014 Posted 17 December 2014 Susan Whelan always insitsted we were FFP compliant, so unless she's totally incompetent as a CEO I doubt we've failed Failed then
Dawko Posted 17 December 2014 Posted 17 December 2014 It's a pity the Premier League banned the third party ownership of players after the Tevez affair, else the owners could have bought some world class players and rented them to Leicester cheaply.
Guest ttfn Posted 28 February 2015 Posted 28 February 2015 Assuming that our year end is still 31 May our accounts for last season should be public as of Monday.
EGBFitness Posted 28 February 2015 Posted 28 February 2015 Dread to think how much QPR are going to get fined if a team that was supposedly in line with FFP is getting fined 20 million?!? Nothing, they are a London club. or they will pay bribe money
gazzer Posted 28 February 2015 Posted 28 February 2015 Daily Mail are a double edged sword. On the one hand they pander to the lowest common denominator little englander (UKIP style) and produce some very offensive stories (e,g the frankly nasty jan moir). On the other hand they are prepared to print stuff occasionally that the rest of the Main Stream Media totally ignore in deference to their oligarch masters.
Sir Fynwy Posted 28 February 2015 Posted 28 February 2015 I was told that the club has received a request to pay £14m to the league for breaching ffp but I can't be sure that is true.
gazzer Posted 28 February 2015 Posted 28 February 2015 would be sad indeed after all the people on here clutching at straws about pearson's talents credit him with wonderful financial stewardship if it turned out he didn't even have that,
Stadt Posted 28 February 2015 Posted 28 February 2015 would be sad indeed after all the people on here clutching at straws about pearson's talents credit him with wonderful financial stewardship if it turned out he didn't even have that,Wow.So Pearson didn't massively cut the cloth? Shipped out high earners for younger, better and cheaper players? You're basing that all on a rumour anyway.
gazzer Posted 28 February 2015 Posted 28 February 2015 Wow. So Pearson didn't massively cut the cloth? Shipped out high earners for younger, better and cheaper players? You're basing that all on a rumour anyway. yes it's all speculation. people are very happy to use rumours to credit pearson - especially now facts are useless in defending him
cjslcfc Posted 28 February 2015 Posted 28 February 2015 I'll be hugely disappointed if we fail FFP, after the club's insistence that we were indeed within the rules. May as well just wait until the accounts are out. No point worrying about it until we can actually see for real what has gone on.
gazzer Posted 28 February 2015 Posted 28 February 2015 disappointment = leicester city= probably every club from time to time
Mark_w Posted 28 February 2015 Posted 28 February 2015 yes it's all speculation. people are very happy to use rumours to credit pearson - especially now facts are useless in defending him You don't have to be a genius to see that if we'd stuck with the approach of say Sven, or just stuck with his average overpaid players (Beckford for example), then we would be in a much worse financial position. I mean not only has he taken us up and as a result undeniably earnt us a shit load of money, but he's replaced undeniably average Championship players with top Championship players while spending no more on average per player than his predecessor. I think in terms of our finances, it's pretty clearly a fact that Nigel Pearson has done an awful lot to improve them.
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