Football 2010-2011

[ralph250]

Tim Payton (who's on the board of Arsenal Supporters Trust) says Arsenal's stadium deal is £2.8m p/a.

Agree with what he's saying about FFP though.

Is it acceptable then to change name of team, too? Presuming all in favour of Etihad Stadium would be fine with Etihad City as name of team

[lost]

there is big debate going on if Etihad means "united" in Arabic from the mirror:

James Hogan, CEO of Etihad Airways, stressed the correct translation of Etihad was ‘Union’ not ‘United’.

But experts on Arabic were divided on the issue. Mohammed Nizami, from the Manchester City council translation service, said the correct translation was ‘Unity’.

When asked if the word could also mean ‘United’ he said: “Yes, it can also stand for union,alliance, friendship and united.”

Yusuf Bagail, from the Alfikr Arabic School at the Yemeni Community Association in Salford, said: “It does mean ‘United’ in Arabic. It means, literally, ‘United’.”

[ralph250]

While Delaware companies might not be in the relevant financial loop currently, I'm sure there's plenty of ways they could be used to FFP rule advantage if Utd was so inclined.

Off the top of my head, a less transparent thing might be to grant those companies certain licencing rights, which can then be exploited outside of UEFA's sight. Or completely hidden for the details, the payments that Utd make up the chain that are ultimately used to service the debt could be increased so that some of the money was being used to pay players (and so showing lower wage costs in the visible UK companies). While some of the details might be a bit fiddly to achieve in an accounting sense, it only takes a glance at the more normal multi-national companies to see that (say) a million quid's worth of costs in doing something like these pays back big time.

These are the sorts of things that dodgy accountants live for.

[The Nal]

Whats up with Liverpool City council? Looks like Liverpool may have to move away from Anfield if they want a 60k stadium. Surely they can wave some of the red tape for Liverpool FC no?

[eFestivals]

and what independent auditors are for too, no?

it might be what they're there for, it's not something they do well at all - particularly when you consider that if they expose a problem they're talking themselves out of the auditing job.

There's a mass of examples that are both widely publicly known (eg: Enron) as well as constant smaller ones that rarely come to public attention that could be raised which prove this happens all the time.

Had a brief look at the regs; club has to outline whole group (up to ultimate parent & subsidiaries (unless unrelated to football)) and group accounts as whole, plus get them signed off by an independent auditor. As such, no benefit for FFP reasons, in having the company hidden in Delaware over having the accounts in the public domain (companies house etc). Either way, accounts are submitted by the company and audited.

"unless unrelated to football" - a hole that's just waiting to be exploited.

For example, I know that Chelsea has companies for 'Chelsea Village', which is completely unrelated to the football side of things. Yet it still falls within the same ultimate parent company as the football side of things, and so is able to be used to manipulate the accounts of the football side, if Chelsea were so inclined.

And it turns out that Chelsea ARE so inclined (at one level of dodgy dealings anyway, tho not at dodgy as it could be [from what's known right now, anyway]), because they've transferred a debt that's indisputably about the football side of things (Roman's huge player spends) away from the football companies but still within the overall group of companies.

As an aside, not completely sure but don't think United have made any payments up the chain since the takeover other than a £10m loan. No dividends been taken yet in the Glazer reign and the PIKS were left alone each year (Interest added each year and compounded). The club have covered the primary bank debt (and now bonds) incurred due to the leveraged buyout and the refinancing costs.

What they might have done to-date says nothing about what they might choose to do in the future.

And while (say) Utd might intend on being true to the FFP rules in both practice and spirit, I'd say they'd be hugely unlikely to stick to that intention once they become aware that the rules can be successfully bent and that other clubs are bending them - and there's absolutely no doubt in my mind that some clubs will bend them. There's no accountant on earth who doesn't intend to use any weakness in the rules they work to to their advantage.

[eFestivals]

I see the Arse have got Gervinho, and Wenger is stating quite strongly that Cesc and Nasri aren't going anywhere.

I wonder if that's a negotiating position or it's real.

[Wooderson]

Hamburg looking to buy Joke Hole for 10million smackers.

[Steve P]

Hamburg looking to buy Joke Hole for 10million smackers.

[Banana Co]

For all those interested in the npower Championship and/or Reading FC and Leicester City FC, Matt Mills has gone to Leicester for 'More than £5m'. Good player, but Reading will still run riot with McAnuff signing a new contract and Shane Long going for no less than £10m.

[Langdale Wolf]

For all those interested in the npower Championship and/or Reading FC and Leicester City FC, Matt Mills has gone to Leicester for 'More than £5m'. Good player, but Reading will still run riot with McAnuff signing a new contract and Shane Long going for no less than £10m.

[Benj]

Hamburg looking to buy Joke Hole for 10million smackers.

[Langdale Wolf]

Leicester are signing Konchesky - on wages of 40k a week.

Absolutely batshit crazy. Portsmouth Mk II.

[Greeny_Musicchild]

Their new plan seems to be buying everyone so nobody else has any players.

[Langdale Wolf]

Their new plan seems to be buying everyone so nobody else has any players.

[spwan-of-the-devil]

They definitely needed numbers so I think Bruce has done quite well. Gardner, Larsson, Ji and Elmohamady signed up aswell all for about £10m all in.

Don't think Gibson's finalised yet btw. Seems to be delaying over contract terms and think Stoke supposedly interested. Did wonder if Gardner signing would end the interest in Gibson. Both like a crack from outside the box to say the least.

[Banana Co]

£5m for Mills - utter madness. We put a £3m bid in, but didn't move from that figure. Then Leicester started bidding against themselves, nudging their own accepted fee (£3.5m) up past the £4.5m mark!

I'd have liked Mills at our place, but £5m?! F**k right off.

I'm just hoping Johnson signs for us tomorrow. He should do, but it seems that his agent has ndeliberately leaked the news to get more offers before he signs on the dotted line so it's by no means a done deal.

Mills @ £5m or Johnson @ £7m? A no-brainer.

Basically, if Leicester don't go up this season, they're screwed. And apparently, they've bid £4.5m for Nicky Maynard!!

Edited July 12, 2011 by Banana Co

[Langdale Wolf]

I think you lot might buy or bid for Shane Long from us; McCarthy loves to have an Irish player from Reading, Haha!

[Langdale Wolf]

We are interested and have had a bid accepted I think so its doing the rounds and we are only willing to pay 30k a week and Gibson wants 40k!

Also Stoke Sign Woodgate on a Pay as you play deal for a year think its a cracking signing on a free if he can stay fit and still after Dann and Jerome as well!

Cole Bid accepted 4mill rising to 6mill apparently doesnt want to move out of London thank god as I think you are a donkey sir!

[eFestivals]

Leicester are signing Konchesky - on wages of 40k a week.

Absolutely batshit crazy. Portsmouth Mk II.

I'm guessing that he was on at least that much at Liverpool. I'm sure they're gutted to lose him.

[Wooderson]

I'm guessing that he was on at least that much at Liverpool. I'm sure they're gutted to lose him.

[spwan-of-the-devil]

Jerome is awful. Dann would be a cracking signing, but I wouldn't touch Jerome with a barge pole.

Edited July 13, 2011 by spwan-of-the-devil

[Kizzie]

I see that Aldershot won 3 – 0 last night.

Ok so it was only a friendly against Tamworth, but it was a win, an unusual occurrence.

Did we not know this Neil ?

[eFestivals]

I see that Aldershot won 3 – 0 last night.

Ok so it was only a friendly against Tamworth, but it was a win, an unusual occurrence.

Did we not know this Neil ?

I did. Don't you follow your team?

Far better than beating Tamworth was spanking Farnborough 4-0.

[Kizzie]

I did. Don't you follow your team?

Far better than beating Tamworth was spanking Farnborough 4-0.

[The Nal]

Damn, thought I was being smart then, first time in the footie thread in 7 years and I've blown it....think I'll stay away.