Reply With QuoteFantasists galore 🤣
Hall Of Fame
Possibly, but I read somewhere they have spunked something between £60M - £70M debt in their 6 1/2 year existence.Originally Posted by Pacman1903
How sustainable is that?
Hall Of Fame
Fantasists galore 🤣
Hall Of Fame
As sure as night follows day, the rags are reporting Morelos is ready to move on and SevCo are expecting a number of bids in January.
The hawking of player sales to cover the debt has started.
Desperate times at your beloved club JT
Hall Of Fame
That cant be true as you need to submit your books to UEFA for a license. They are continually getting one. There has been no warning about their financial conduct either.Is that three seasons now. This might chance next season if whats being banded about is true.
Those phoenix f@cks will be around a long time yet, Europe or no Europe. Untill I see them banned from Europe I will take all this with a pinch of salt
Last edited by Pacman1903; 02-11-2019 at 09:06 AM.
Hall Of Fame
^^^^
Yeah, I believe its a three season rule.
But as I said, they may fudge it with the share conversion I'm not sure of the intricacies
Hall Of Fame
Remember as well, these accounts don't include the Kent (£7M) and Helander (£3M) purchases, albeit they may be paid up over time, the same would go for any player sales presumably.
so to generate £10M (£5M has been agreed by further loans) and cover any potential costs of the Sports Direct Case, they might need to generate significantly more than the £10M and at worst case, limit them going forward
Hall Of Fame
Just a bit on the FFP restrictions I just googled
https://www.bbc.co.uk/sport/football/29361839
2. What must clubs do to comply with FFP?
Uefa made its first FFP ruling in April based on club accounts from the 2011-12 and 2012-13 seasons.
Clubs can spend up to 5m euros (£3.9m) more than they earn per assessment period, although, under this monitoring period, total losses of 45m euros (£35m) were permitted as long as clubs had owners who could cover such amounts.
From now on, the assessment will be made over a rolling three-year period.
For 2014-15, losses will still be limited to 45m euros (£35m).
For 2015-16, the monitoring period will again cover the previous three seasons, but the limit will drop to 30m euros (£25.5m).
The pattern is repeated in 2016-17 and 2017-18.
In the following years the limit will be lower, with the exact amount still to be decided.
Clubs are also obliged to meet all their transfer and employee payment commitments at all times.We've seen far bigger clubs than SevCo get hit with restrictions and even bans in Europe, so SevCo cannot be protected from the SFA / GFA bubble.5. What are the possible sanctions for clubs in breach of FFP?
"The atomic bomb is a ban from European competition," said Jean-Luc Dehaene, the first chairman and chief investigator of CFCB, back in 2011 (Dehaene died in May 2014).
The CFCB's investigatory chamber can offer clubs settlement agreements, with potential punishments including warnings, fines, withholding prize money, transfer bans, points deductions, a ban on registration of new players and a restriction on the number of players who can be registered for Uefa competitions.
Bring it on I say
Hall Of Fame
Slightly off topic but PSG and Man City take the f@cking piss out of FFP. The just may the huge fines when the get caught and take the smaller European squad sanctions.Just a bit on the FFP restrictions I just googled
https://www.bbc.co.uk/sport/football/29361839
We've seen far bigger clubs than SevCo get hit with restrictions and even bans in Europe, so SevCo cannot be protected from the SFA / GFA bubble.
Bring it on I say
That's why the biggest names on the banned so far list are Milan(who were an absolute clusterf@ck at the time) and Galatasaray because they canna pay the fines.
UEFA don't want to ban the big names. They are trying to build tournaments around them.
We can only hope that if all is true then they will add sevco to the list. I wont hold my breath though
Hall Of Fame
They said that 7 years ago with the old rangers. Didn't happen. £10m needed this season, plus maybe the same to Sports Direct. On course to lose the same next season, plus missing out on £14m if they can't play in europe. £24m due to pay out over the next couple of years in transfer fees with next to nothing due in. Add it all up, and you're getting close to the big tax case amount. People rich enough to spend that sort of money tend not to waste it on football clubs with no prospect of a return.
They said that 7 years ago with the old rangers. Didn't happen. The sfa/spfl can fix the refs and avoid punishment for them, but they're not going to give them £20m or whatever they need. The sfa can't automatically put them in the champions league group stages which is about the only thing that would make them break even. When the directors no longer have the funds to bail them out, who's going to pay wages etc?
Hall Of Fame
Assuming celtic win the league this year I think that King and Park will continue to throw their personal wealth into the black hole for one last try to stop 10 in a row. If celtic win that one as well then I think we could see a big reduction in spend as no matter how rich you are you can't continue to spend your own money at the rate of about £10M-£15M a year for no benefit. I think they would also probably try to cash in on some sellable players at that time as well (I would imagine they will try to hang onto the likes of Morelos for one more Summer unless he causes a stink to leave, which is entirely possible). Much as it sticks in my throat to say it I guess we should all be hoping for a celtic title win to prevent the knuckle draggers from having any hope of Champions League money
Whilst the SFA can't help bail them out just watch for all sorts of rule bending/ignoring to minimise any penalties they impose on sevco should they go into Administration
Posting Permissions