I really hope our house is in order
I am pretty sure Gibson and his team will keep a very night financial paper trail.
I often wounder how the hell we don't come under FFP pressure. We spent best part of 75mil in two seasons. Also some of the wages are simply horrific (Britt/Braithwaite/Rudy etc)
We have only sold Traore / Bamford and Gibson for any type of money (spent that 4 times over). I don't understand finances but we've definitely had far more going out than in. The majority of our big money signings leave for nothing.
Gibson is going for it. To think he fully knows what it's like to be around a liquidated club. I read this morning that a lot of this started over the way Derby gazzuped us for Waghorn. I'd be thanking Morris for helping us dodge a bullet.
It's an absolute waste of time. He should concentrate on getting things right at his own club.
That sounds about rightParachute payments offset plenty.
We spent £50m the season we came down, but we also made £48m in sales.
The season after we spent £20m but made £43m in sales.
Then we barely spent for the next two seasons.
Obviously wages are a huge factor though, which is why there has been so much cost cutting.
Or he wants to make sure they actually get punished for cheating FFP.
They still haven't been.
This is it in a nutshell for me. Going into administration at the same time as receiving the FFP punishment provides a clean slate. They need to be punished for the FFP stuff AND the administration.
Will be interesting to see how much debt they have to pay back, 25% minimum of the non football and 100% football is the perceived rate. So if they owe £26m to HMRC as mooted, they’ll pay back just over £6m and get away with £20m.Yes, going into administration is self-inflicted punishment, if you will.
The cheating has not been punished at all thus far.
i thought it was 100% for HMRC, 100% for football and then it drops to 25%.Will be interesting to see how much debt they have to pay back, 25% minimum of the non football and 100% football is the perceived rate. So if they owe £26m to HMRC as mooted, they’ll pay back just over £6m and get away with £20m.
Doesn‘t seem a fair punishment that.
And anyone else think they’ll be able to buy the ground back for virtually nothing, allowing them to benefit even further?
I kind of hope Gibbo gets into a bidding war if the administrators have to sell the ground.i thought it was 100% for HMRC, 100% for football and then it drops to 25%.
i did also worry that the ground would be available for £1. i might put an offer in
Parachute payments offset plenty.
We spent £50m the season we came down, but we also made £48m in sales.
The season after we spent £20m but made £43m in sales.
Then we barely spent for the next two seasons.
Obviously wages are a huge factor though, which is why there has been so much cost cutting.
Not 100% for HMRC. EFL rules are that a minimum of 25% of non football debt is required, HMRC are in the non football pot.i thought it was 100% for HMRC, 100% for football and then it drops to 25%.
i did also worry that the ground would be available for £1. i might put an offer in
HMRC's status was changed by the government recently so they are classed as a prime creditor now and as such have to be paid in full. I linked a podcast in one of the other posts that explain it all.Not 100% for HMRC. EFL rules are that a minimum of 25% of non football debt is required, HMRC are in the non football pot.