Financial Fair Play (FFP)

[chaospunx]

So gut sentiment aside, do Everton have a point (well, -6 points) in feeling hard done by? Our breach was pushing twice theirs.

Wait till they get another 6 f***ers

 

[Rubics]

having skimmed through the 52 pages - take the 4 points and move on. Beat Luton’s points haul and keep a closer eye on the financials going forwards!

 

[Strummer]

Don’t lecture people on the etiquette of the forum and throw in lines like this.

Which *MARINAKIS* for the state of doubt!

Emmo was criticising Marinakis - but, the owner, or his son, was my question? Both are arguably culpable with some of the excesses the club find themselves charged with.

 

[Cloughie1975]

It will be interesting to see the official club statement from Forest.

 

[REDDERS78]

 

[Alvar Hanso]

Why would we have tried to sell him in the previous January? That would have relegated us.

Our whole argument was that we delayed the sale to maximise our profit. It stands to reason, if you accept that premise, that the maximum fee is gained close to the deadline.

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The commission seems quite obsessed with us keeping to the exact rules (and being seen to keep to the rules), rather than the spirit of the rules.

If we appeal, this is the area we’ll go back to

 

[Strummer]

It will be interesting to see the official club statement from Forest.

I would be surprised if there is one, to be honest.

 

[PlayedOnGrass]

Wind in the personal insults please.

We don’t do that here.

There is a massive difference between finance, and governance.

Governance is setting boundaries around what a business can do; from the simplest setting for financial gearing, all the way through business planning and auditing.

Simply throwing gargantuan sums of money at something without any clear strategy is absolutely not good governance. And it’s a governance failure that Forest have tripped over, because someone should have said „hang on, we can’t do this because the sums don’t add up“.

Apologies - no offence intended

Please don't patronise me on the intricacies of finance and governance - you have no idea of my background.

EM runs a global empire and cannot make every decision himself. As in most global corporations, the owner/board/shareholders set the strategies.
I am of the opinion that EM has set out the strategy and put the structure in place to deliver that strategy, it would clearly appear that mistakes have been made - consequently people have been removed from their posts.
To suggest that he hasn't got the competence to run his global empire, which has quadrupled his revenues and his personal wealth over a 5 year period, is quite frankly ridiculous.

 

[shearstone]

Kept reading but now gonna go pub to cleanse my brain.

Seems to me Everton will get a further 1 to 3 points depending on how open they've been with the Premier League this season.

 

[Otis Redding]

For the first time ever to my knowledge Nottingham Forest were the top news item on BBC Radio 4 at 3pm.

Unsurprisingly, we were evidently mentioned in the first news item coverage on that station as the Hillsborough tragedy unfolded.

 

[Cloughie1975]

I would be surprised if there is one, to be honest.

I think there’s bound to be a statement.

 

[RedRobbo]

Guilty as charged.
Just get back to winning football matches - we’ll be fine ( as long as Nuno stops inviting the opposition to play in our half ).

 

[WallyBazoom]

But did Johnson want to go? More desirable than Brentford for sure, but if he knew Spuds were sniffing around he held on for them to formally come in for im.

Easier/quicker for 'im to gerr'om to Notts from London for mushy peas/ribs in 'ooters/trip to the cinema wi' MGW, Yatseh and Neco than Spen, I suppose.

 

[REDDERS78]

Kept reading but now gonna go pub to cleanse my brain.

Seems to me Everton will get a further 1 to 3 points depending on how open they've been with the Premier League this season.

Where does the 1-3 come from? Is it not exactly the same offence as they were previous sanctioned for?

 

[Otis Redding]

I have not posted for a long time Otis but have dipped into the forum occasionally and can only say when you see how those certain posters are so one eyed I cannot even classify them as supporters. I am sure they do have some affinity for the club but greater affinity for the opinions that they will spout at every opportunity usually with absolutely no facts to back up their opinion. Stocky says a little later that we have the best owners in his 59 years and I would agree both in years and owners.

Well said, and good to see you back M&M.

 

[Alan Akbah]

Ok, it's settled. One point behind Luton. Nine games to go. First two at home.

Finger out, Nuno, finger out!

 

[tomw94]

This section is quite annoying, the league think losing money to comply with their rules is more sustainable than getting the most out of a sale.

 

[Redemption]

It's surmountable.

 

[Strummer]

Apologies - no offence intended

Please don't patronise me on the intricacies of finance and governance - you have no idea of my background.

EM runs a global empire and cannot make every decision himself. As in most global corporations, the owner/board/shareholders set the strategies.
I am of the opinion that EM has set out the strategy and put the structure in place to deliver that strategy, it would clearly appear that mistakes have been made - consequently people have been removed from their posts.
To suggest that he hasn't got the competence to run his global empire, which has quadrupled his revenues and his personal wealth over a 5 year period, is quite frankly ridiculous.

As you have no idea of my background.

The point is; Evangelos Marinakis has a duty as a registered director of the business concerned, to ensure that there is at all times, proper operational and organisational structures in place. Nobody expects him to be fully hands on running everything himself.

But he has a duty - as a director - to ensure there are competent people in place, to ensure compliance and governance are done properly.

If you have not already done so, go and read the full findings as released by the Premier League and the Independent Commission, and note some of the things they identify as missing from the discovery process, things that were not supplied or submitted by Forest, such as minutes of Board meetings, and detailed financial forecasts. Indeed, the club - in the words of the commission - seem to do „most things orally“.

Is that really the way to run a company with a turnover of 200-300m a year?

I am not convinced it is - and that is the point I am trying to make.

 

[eyupmeduck]

Reading it through, honestly we should just accept it and move on because we didn't just breach by a little, its a bloody lot. The panel are reasoned in their explanation and it seems fair. The only gripe being potentially around allowable covid losses but all that that would do is make our breach slightly smaller but still a massive one.

The figure of £95.5m is also over the allowed losses if we had been in the EPL for 2 out of 3 years (£83m) so we had better hope that the transfer activity so far will actually put us in a position to make a profit.

On the face of it this psr window on transfer fees alone we have spent about £105m.

Johnson £45m, Mangala £35m plus the rest have us about £93m but whether Mangala goes into next year or this I don't know.


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[Alvar Hanso]

This section is quite annoying, the league think losing money to comply with their rules is more sustainable then getting the most out of a sale.

View attachment 36447

It’s an open goal if we appeal

 

[vertigored]

Where does the 1-3 come from? Is it not exactly the same offence as they were previous sanctioned for?

if they are in breach again over the 3 years, they haven’t done enough to get back into line and so another 3 point minimum deduction in my eyes.

but I am half blind

 

[Joe Baker's Dog]

leaving aside the built in unfairness of FFP…..namely reducing the amount you’re allowed to lose because you weren’t even in the PL……..surely someone at the club was monitoring the overspend?

 

[Tiff]

As you have no idea of my background.

Err, I think my neighnour knows who you work for and your role, just by osmosis.

 

[redodare]

AM made an offer for Brennan which is evidence of a market price.
Received wisdom at the time was Brennan wanted a London move .
Brentford, who had got to know the player must have thought they could pick up a bargain.
So we were right to hold out to maximise revenue from a sale. But the PL say the letter of their law is more important than the spirit.