StephenH
David Ginola
Better accountants?
-
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Financial Fair Play
- Thread starter NewmarketYid
- Start date
Better accountants?
Baleforce
Vinnie Samways
and hospitality
Bullet
Chris Jones
Yes https://www.bbc.co.uk/sport/football/44599326
They will appeal and be told off and be fined tuppence
markysimmo
Johnny nice-tits
Paris Saint-Germain have contacted Philippe Coutinho's agent to say they are willing to pay a new world record fee of €270m to sign the Barcelona playmaker.
There has been no contact between the clubs but this is the same tactic PSG employed in tempting Neymar away from Catalonia.
PSG tried to sign Coutinho in January from Liverpool but the Brazil international had made a commitment to Barca. PSG also believe by signing Coutinho they will convince Neymar to stay in Paris. (Mundo Deportivo)
There has been no contact between the clubs but this is the same tactic PSG employed in tempting Neymar away from Catalonia.
PSG tried to sign Coutinho in January from Liverpool but the Brazil international had made a commitment to Barca. PSG also believe by signing Coutinho they will convince Neymar to stay in Paris. (Mundo Deportivo)
Denmark Spur
Michael Carrick
nayimfromthehalfwayline
Andy Thompson
Once again FFP is proven utterly pointless
Baleforce
Vinnie Samways
working as designed
Not a bad plan actually.
If it looks like you'll be stuck in the wafer cup for a season, break all the spending rules, take a 1yr ban and then have a team worthy of a proper competition next year.
nayimfromthehalfwayline
Andy Thompson
Financial Fair Play: QPR agree £42m settlement after breaking spending rules
By Andrew Aloia
BBC Sport
QPR have agreed a settlement of almost £42m with the English Football League after an arbitration panel dismissed the Championship club's claims that Financial Fair Play rules are unlawful.
The settlement includes a £17m fine, paying £3m of the EFL's legal costs and the agreement from club shareholders to write off £22m of outstanding loans.
QPR will also be under a transfer embargo for the January 2019 window.
It is believed the EFL have agreed to a payment schedule over 10 years.
The London club's case relates to breaking spending limits on their way to winning promotion to the Premier League in 2014, with QPR's wages of more than £75m making up 195% of their turnover of £38.6m.
The settlement was reached before QPR's appeal, which was heard on 2 July, against the panel of arbitration's ruling that FFP rules were both lawful and a fine of £41.965m was not disproportionate.
QPR chief executive Lee Hoos said that while they felt they had a "strong case for appeal", the settlement "is in the best interest of football as a whole".
"QPR felt it was best to put this matter behind them to enable all parties to have certainty and allow us to continue focusing on running the Club in a sustainable manner, going forward," Hoos added in a joint statement with the English Football League.
'Conscious of financial burden on QPR'
While the overall fine element, upheld by October's arbitral hearing, was vastly reduced, having QPR's owners agree to effectively write off £22m worth of outstanding debts by converting that amount into share capital will help strengthen the club's balance sheet.
The club's owners will not be able to redeem the £22m of share capital.
EFL chief executive Shaun Harvey said: "In agreeing to the settlement above, the board was conscious that the financial burden placed on the club had to be manageable, so as not to put its future in doubt when considering that after this season the club will no longer benefit from the promotion that was the catalyst for the dispute in the first place."
"The outcome vindicates the approach of the EFL board in defending the challenge to our rules."
Since relegation back to the Championship after just one season in the Premier League, QPR have reduced wage spending year on year, with the latest accounts from 2017 showing that 64% of their turnover was spent on wages.
However, they have made pre-tax losses of more than £17.4m in their first two seasons back in the second tier.
No part of QPR's settlement with the EFL will be taken into account in future calculations relating profitability and sustainability rules.
By Andrew Aloia
BBC Sport
QPR have agreed a settlement of almost £42m with the English Football League after an arbitration panel dismissed the Championship club's claims that Financial Fair Play rules are unlawful.
The settlement includes a £17m fine, paying £3m of the EFL's legal costs and the agreement from club shareholders to write off £22m of outstanding loans.
QPR will also be under a transfer embargo for the January 2019 window.
It is believed the EFL have agreed to a payment schedule over 10 years.
The London club's case relates to breaking spending limits on their way to winning promotion to the Premier League in 2014, with QPR's wages of more than £75m making up 195% of their turnover of £38.6m.
The settlement was reached before QPR's appeal, which was heard on 2 July, against the panel of arbitration's ruling that FFP rules were both lawful and a fine of £41.965m was not disproportionate.
QPR chief executive Lee Hoos said that while they felt they had a "strong case for appeal", the settlement "is in the best interest of football as a whole".
"QPR felt it was best to put this matter behind them to enable all parties to have certainty and allow us to continue focusing on running the Club in a sustainable manner, going forward," Hoos added in a joint statement with the English Football League.
'Conscious of financial burden on QPR'
While the overall fine element, upheld by October's arbitral hearing, was vastly reduced, having QPR's owners agree to effectively write off £22m worth of outstanding debts by converting that amount into share capital will help strengthen the club's balance sheet.
The club's owners will not be able to redeem the £22m of share capital.
EFL chief executive Shaun Harvey said: "In agreeing to the settlement above, the board was conscious that the financial burden placed on the club had to be manageable, so as not to put its future in doubt when considering that after this season the club will no longer benefit from the promotion that was the catalyst for the dispute in the first place."
"The outcome vindicates the approach of the EFL board in defending the challenge to our rules."
Since relegation back to the Championship after just one season in the Premier League, QPR have reduced wage spending year on year, with the latest accounts from 2017 showing that 64% of their turnover was spent on wages.
However, they have made pre-tax losses of more than £17.4m in their first two seasons back in the second tier.
No part of QPR's settlement with the EFL will be taken into account in future calculations relating profitability and sustainability rules.
195% wage bill? Triffic.
Grays_1890
Les Howe
Haha to be fair, he went in when SWP was on 100k a week, he inherited the wage bill of doom there
nayimfromthehalfwayline
Andy Thompson
To be fair - he did fudge all the ease that situation, did he?!
QPR's squad for the play-off final consisted of 39 players against a Derby side whose wage budget was five times less than theirs.
That season, Redknapp oversaw the signings of Danny Simpson (free), Richard Dunne (free), Karl Henry (undisclosed), Charlie Austin (undisclosed), Gary O'Neil (free), Matt Phillips (undisclosed), Javier Chevanton (free), Oguchi Onyewu (free), Yossi Benayoun (free), Coll Donaldson (undisclosed) and Aaron Hughes (free). While the transfer fees weren't excessive, it increased the wage budget.
QPR also loaned in Benoit Assou-Ekotto, Tom Carroll, Niko Kranjcar, Dellatorre, Kevin Doyle, Will Keane, Modibo Maiga and Ravel Morrison during that time with Rangers making a contribution, to a greater or lesser degree, to their wages, lifting them to over £70m.
Im sure all those free transfers didnt come in on inflated wages...
Grays_1890
Les Howe
Yeh but he got them up to the Prem and that was the time for the club to take the financial reward and clear house.
nayimfromthehalfwayline
Andy Thompson
In the same article I took that quote from he said it was players already there that got him up!
As ever, he shirks all responsibility - only ever takes credit when things work, looks after himself in the shortest of short terms.
He took over a big and expensive squad, straining under a large wage bill - and proceeded to heap more and more costs on top (no doubt lining Rosies pockets).
For me, there just arent excuses for him.
I do agree that the club should have been more responsible, but its his job to help in that and he always does the opposite.
As ever, he shirks all responsibility - only ever takes credit when things work, looks after himself in the shortest of short terms.
He took over a big and expensive squad, straining under a large wage bill - and proceeded to heap more and more costs on top (no doubt lining Rosies pockets).
For me, there just arent excuses for him.
I do agree that the club should have been more responsible, but its his job to help in that and he always does the opposite.
Some Managers are about growing a club and see the bigger picture.
Some Managers will always want more and only look at the short term.
Both managers can be successful, its up to the owners / CEOs to know which one they have and control / help them achieve the success while having the long term interest of the club at heart. I don't blame Redknapp for clubs financial issues, you know what you are going to get - if you go along with him that's your own fault imo.
Some Managers will always want more and only look at the short term.
Both managers can be successful, its up to the owners / CEOs to know which one they have and control / help them achieve the success while having the long term interest of the club at heart. I don't blame Redknapp for clubs financial issues, you know what you are going to get - if you go along with him that's your own fault imo.
nayimfromthehalfwayline
Andy Thompson
While true, I still dont think it excuses him.
He gives literally 0 fudges about any club he manages, only himself.
He gives literally 0 fudges about any club he manages, only himself.
parklane1
Vivian Woodward
This for me as well, making excuses for him is old hat as there are several clubs he has managed and left in a financial mess. Its what he does.