Davefevs

I guess there’s two sides to this: the companies house official accounts FFP submission for 1. All the accounting principles can be followed legally. for 2. It seems like there is quite a big grey area.

I’ll let you read fully and summarise! ?

@Mr Popodopolous so Villa reduce value whilst still with Prem money, knowing that should their gamble of getting back not work, they’ll revalue to cover the deficit.

You beat me to the link. the net is tightening, suggesting Gibson’s attempt to sue the EFL is Having knock on impacts.

Mmmmmmm!!!! Mmmmmmm!!!!

Makes you wonder whether they passed on details to the Premier League to deal with, perhaps knowing they couldn’t do anything about it during last season..

At least we’ll get closure on this one at some point.

Possibly passed on to PL to investigate....out of EFL jurisdiction at the mo? Just imagine if it’s valued less that £40m ???

@DerbyFan this looks interesting!

30 minute listen. MacAnthony not everyone’s cup of tea, but some interesting ideas, but also insight into some if the rules and regs that cause problems in solving the likes of Bury and Bolton’s financial issues. I don’t agree with all of them, but worth half an hour imho.

So, it sounds like he then asked for more money. Disgrace.

Here we go then. This from a sensible Villa fan who understood their own financial position under Tony Xia. All becoming clearer what a tosser Steve Dale is and Stewart Day too.

Two seasons ago I tweeted “Bury are going for it big time!”, some of the players they signed looked out of kilter with their standing! So wouldn’t surprise me. Re contracts. Jack Rodwell’s contract allegedly had a 12 month wage reduction deferral in case they went straight back up. Hence he was still on £70k per week when they got relegated to Lg1 ?

For those of you interested and who like David Conn the journo, read his book - The Beautiful Game. It was what sparked my interest in football finances / football business. Simon Jordan's autobiography is very good too, and for those if you who think he’s a suntanned knobhead, you may change your mind. I did. Back to Conn, his explanation of David Dein (Arsenal) removing the 2.5% director dividend maximum partly led to Irving Scholar (Spurs) using the holding company method as a way of getting money out of football clubs and therefore it’s attractiveness to outside investors. The day of the local wealthy businessman owning his local club for a long term gain of small amounts was over. Enter Abramovic etc. Not all have been bad, appears the late Leicester owner was a good guy, but it has led to money finding itself a way out of football quicker than before and leaving debt and devastation in some cases behind. Don’t blame Sky for it all. That is too easy and unfair. They are part of the problem, but they aren’t the ones overspending. That’s the clubs / owners and decision makers like Dein before!!!

I thought I read that 75% of creditors had to agree, and the 75% was of creditors not related / connected ?

In my very naive world, that’s one team in Lg2 that won’t get relegated this season, no relegation at all if Bolton cold too. If this means some owners don’t have to gamble their league status and bigger debt this season, it might be a small crumb of comfort. There are of course other knock-ons to other Lg1 clubs: each team will now only play 22 (21 if Bolton too)home games, that’s 5% (10% if Bolton) lost income (gate receipts, sponsorship etc) would season ticket holders be liable for a reduction as they’ve pre-paid 23 games? Trivial matter I know, but still something to consider.

Looks like he’ll be asking his son-in-law for a cut of the money he’s made!

Jeez ????? words fail me.

What does Steve Dale now stand to gain? That’s the bit I’m keen to understand. Was it predominantly Stewart Day that caused the problems. How much money has he put in? Other than his £1? Has he lost anything? He told Jim White that he’d put up security with the PFA, so that they would pay some of players wages. Is this true? The CVA was allegedly agreed because the creditors agreed to 25p in the £. Yet stories that the creditors was connected to him and paid £70k for £7m debt, which would be worth £1.75m at 25p/£.. If this is true, I suspect he’s a worried man. I hope the truth comes out. Newport losing in play-offs too. Notts County and Yeovil going out of the league.

Will be very interesting. Mark Warburton, ex-City Trader, should have some opinion.

....and we helped them out, restructuring the Baker deal to ease their cashflow!! Maybe we shouldn’t have bothered!

The problem we have is Football v Football Business v Business. It appears there are loopholes in each bit. Where you have legitimate business practices finding loopholes in FFP, e.g. sell and lease-back of your ground, and no consistent valuation method, it’s never gonna hit the mark. I don’t have the answer though.

And the EFL / PL too.

You could call them BUR-TON ?

Double headers