Financial Fair Play (FFP)

[congo_red_49]

Our wage bill is/was far too high.

Minus the one-off promotion bonus, we were at about £40m for the promotion season, a year later we were at £145m, higher than a few well established PL clubs. I'd wager we are even higher this season.

Wages were a far bigger factor in the PSR breach than transfer spending.

Yeah, but AMBITION though.

 

[Strummer]

„Bullet“ Baxter!!

 

[Robertson]

Seems legit.

https://x.com/kieranmaguire/status/1778297893838794752?s=46&t=cST_d8xphxhq1wTEZrNHJQ

 

[Notcher]

Seems legit.

https://x.com/kieranmaguire/status/1778297893838794752?s=46&t=cST_d8xphxhq1wTEZrNHJQ

So they're also valuing the club at £3.7 Billion based on that.

 

[congo_red_49]

Seems legit.

https://x.com/kieranmaguire/status/1778297893838794752?s=46&t=cST_d8xphxhq1wTEZrNHJQ

Zero effect with regards to FFP or PSR though

 

[Robertson]

Zero effect with regards to FFP or PSR though

So it’s not classed as income, it’s just actual cash in the coffers?

 

[Notcher]

So it’s not classed as income, it’s just actual cash in the coffers?

Absolutely nothing the PL can do about share issue capital. That's the business of the ltd company

 

[Timothy Pope]

So it’s not classed as income, it’s just actual cash in the coffers?

So they’re preparing to spend because they’re not bothered about FFP perhaps?

 

[Strummer]

So they’re preparing to spend because they’re not bothered about FFP perhaps?

Richard Masters has probably received an invite to a party at the nearest Saudi Consulate.

 

[Notcher]

It was revealed recently that there had been some talks between the UAE and and government officials about the UAE concerns over the man city issues. The government refused to say what the content of those talks were because they feared it could destabilise relations if it were revealed.

Not at all fishy and you can bet your life on it that the same thing has happened between the Saudis and UK government relating to Newcastle.

 

[Strummer]

It was revealed recently that there had been some talks between the UAE and and government officials about the UAE concerns over the man city issues. The government refused to say what the content of those talks were because they feared it could destabilise relations if it were revealed.

Not at all fishy and you can bet your life on it that the same thing has happened between the Saudis and UK government relating to Newcastle.

So the UAE also have nearby Consulates?

 

[Notcher]

So the UAE also have nearby Consulates?

Apparently the talks were held at the UK embassy in Abu Dhabi

 

[YouReds43]

The best bet is we get 1pt back, If Everton are getting a point back for 20m loss of revenue for a training ground which seems dodgy, then 21m added to the accounts from promotion should get us down to a 3pt deduction

 

[Notcher]

It will be interesting to hear the club's statement after the appeal. They've kept their powder pretty dry up until now for obvious reasons.

 

[RedRobbo]

It will be interesting to hear the club's statement after the appeal. They've kept their powder pretty dry up until now for obvious reasons.

Suspect - subject to the result of the appeal - it could be highly combustible!

 

[DanR]

It will be interesting to hear the club's statement after the appeal. They've kept their powder pretty dry up until now for obvious reasons.

Given our owner's previous behaviour, I expect the local electrical retailers will have a stock of replacement widescreen TVs ready for immediate delivery to the City Ground on the day of the announcement.

 

[I'm Red Till Dead]

Their whole operation is in danger. They are so highly leveraged it's indefinable.

They have investors and lenders chasing them for them for hundreds of millions of dollars.

It might be a classic House of Cards, not unknown in the PE business.

It won't help them that insurers are being told to cut their exposure to 777

https://www.fca.org.uk/news/press-r...-take-action-publishes-latest-fair-value-data

Also in the FT but behind a paywall (though I could have sworn I had access to it yesterday)
https://www.ft.com/content/a225cb7d-ccdd-495d-b7f1-a8124129b8bf

 

[Notcher]

It won't help them that insurers are being told to cut their exposure to 777

https://www.fca.org.uk/news/press-r...-take-action-publishes-latest-fair-value-data

Also in the FT but behind a paywall (though I could have sworn I had access to it yesterday)
https://www.ft.com/content/a225cb7d-ccdd-495d-b7f1-a8124129b8bf

Here's a related article.

https://josimarfootball.com/2024/02/19/credit-in-the-straight-world/#:~:text=As%20of%2016%20February%2C%20this,Partners%20and%20their%20football%20operations.

 

[I'm Red Till Dead]

Here's a related article.

https://josimarfootball.com/2024/02/19/credit-in-the-straight-world/#:~:text=As%20of%2016%20February%2C%20this,Partners%20and%20their%20football%20operations.

I remember reading a couple of days ago Something that suggested that in January, 777 struggled to pay $1m that it owed someone. I forget where it was though and I don't remember how good the source was.

Just had a quick look It was Josimar on X (Twitter) -

https://twitter.com/i/web/status/1777230615638626467

For anyone who cant see X the post read

New.As their proposed takeover of Everton enters a key week, new court filings show 777 Partners struggling to fund a 1 million dollar payment to a lender as recently as January. (Posted April 8th)

 

[Notcher]

I remember reading a couple of days ago Something that suggested that in January, 777 struggled to pay $1m that it owed someone. I forget where it was though and I don't remember how good the source was.

Just had a quick look It was Josimar on X (Twitter) -

https://twitter.com/i/web/status/1777230615638626467

For anyone who cant see X the post read

New.As their proposed takeover of Everton enters a key week, new court filings show 777 Partners struggling to fund a 1 million dollar payment to a lender as recently as January. (Posted April 8th)

That would tie in with their credit rating being knocked down again not long afterwards.

 

[Raymondo Ponte']

They the new "Munto Finance'.

 

[eyupmeduck]

https://twitter.com/i/web/status/1778319255379017769

This also adds to the "Its just interest payments but Forest went over our limit by more" debate.

A Toffee fan friend of mine doesn't like my new position, that Everton were in breach for 208 weeks, we were in breach for 8 so should have 4% of their punishment which is 0.32 points.

Sent from my SM-G960F using Tapatalk

 

[Strummer]

https://twitter.com/i/web/status/1778319255379017769

This also adds to the "Its just interest payments but Forest went over our limit by more" debate.

A Toffee fan friend of mine doesn't like my new position, that Everton were in breach for 208 weeks, we were in breach for 8 so should have 4% of their punishment which is 0.32 points.

I like the logic of this argument.

 

[Robertson]

https://twitter.com/i/web/status/1778319255379017769

This also adds to the "Its just interest payments but Forest went over our limit by more" debate.

A Toffee fan friend of mine doesn't like my new position, that Everton were in breach for 208 weeks, we were in breach for 8 so should have 4% of their punishment which is 0.32 points.

Sent from my SM-G960F using Tapatalk

Some very good reasons there why just comparing the ‘size’ of Everton and Forest’s breach is completely meaningless.

I’m also interested how some of the other clubs that have made massive actual losses over the last three years have managed to get them down to less than £105m ‘PSR losses’.

Or a £179m loss down to less than £83m in Fulham’s case.

 

[DanR]

Some very good reasons there why just comparing the ‘size’ of Everton and Forest’s breach is completely meaningless.

I’m also interested how some of the other clubs that have made massive actual losses over the last three years have managed to get them down to less than £105m ‘PSR losses’.

Or a £179m loss down to less than £83m in Fulham’s case.

Willian was signed as Project Manager on their new stand.