FFP latest

[Joe90]

Listened to the QPR podcast last night and Lee Hoos was on it...Things aren't looking rosey. Apparently it cost 9mill to run the club before wages are paid?!

I met a Reading scout a few weeks ago and he was saying our best chance of survival is to move completely from London. He also said having our training facilities being down graded to a cat 2 ( does anyone know about this) is major issue.

Personally I think we'll be fine. If this is us doing #### then we're doing alright when you consider what other clubs around us are doing.

Its frustration because the owners put us in this situation, but they are doing the right things to get us out.

[Olly]

We won't win the argument over FFP, only postpone the inevitable. No club in the world has got away with trying to bend the FFP rules. Fake sponsorship has already been sussed out and penalised, read it up. I'm inclined to think the fine will have to come out of club finances, restricting club spending. Otherwise you'd have a situation where clubs would deliberately overspend, get fined, and the owners just dip into their pockets, pay it, and carry on doing the same thing?

[Hitman34]

Reading that Sandro thread is hilarious looking back at it now. People now in hindsight saying how stupid we were to spend all that money but at the time was loving it.

Yeah, look at them look at them. They don't know anything about football. Bunch of idiots.

[Route One]

We won't win the argument over FFP, only postpone the inevitable. No club in the world has got away with trying to bend the FFP rules. Fake sponsorship has already been sussed out and penalised, read it up. I'm inclined to think the fine will have to come out of club finances, restricting club spending. Otherwise you'd have a situation where clubs would deliberately overspend, get fined, and the owners just dip into their pockets, pay it, and carry on doing the same thing?

But our case is different- the rules were new and then immediately changed because they were unworkable. Every case is winnable. Just ask OJ

We should absolutely fight this. A huge percentage of any fine will go in to the pockets of people at the football league and their friends working at ‘charities’ to help syphon the money.

It’s an easy money laundering trick to say the cash is going to charity. The instinct when you hear that is to not question it. Charity is good and therefore ask no more questions.

With £40m plus how many charities will they share it with and how much of that spending can be tracked and proven. There is no way that the football league and there buddies aren’t planning on helping themselves. Add a mate to the payroll, even they don’t work there thank you very much. Buy yourself a new kitchen, #### it why not… who’s going back round and checking that the new kitchen actually got installed in the clubhouse. That’s just a couple of examples but if you really think that a significant chunk of the money the football league are trying to extort isn’t going to be used fraudulently then your kidding yourself

[CroydonCaptainJack]

If anyone has had a single moment more euphoric in their lifetime than the second that goal went in, id love to hear it.
Ive been nowhere near it, and ive lived quite a colourful life, im no librarian

[1973 ranger]

The big concern is where is the money going to come from as we cannot fake a sponsorship deal and the owners cannot just pay it off themselves. This is the most concerning aspect of the whole situation as we clearly do not have or generate the kind of money needed to pay the 40 million plus figure. The saddest part is it is all self inflicted.

[Olly]

But our case is different- the rules were new and then immediately changed because they were unworkable. Every case is winnable. Just ask OJ

Not sure it is different, all that changed was the amount of debt you were allowed to have, and the FL increased it to help clubs.

[1973 ranger]

Is the 60 million write off by the board trying to cover up 60 million of debt the reason they went for us? We posted 9 odd million but wrote off 60 by turning it into shares?

[Olly]

The big concern is where is the money going to come from as we cannot fake a sponsorship deal and the owners cannot just pay it off themselves. This is the most concerning aspect of the whole situation as we clearly do not have or generate the kind of money needed to pay the 40 million plus figure. The saddest part is it is all self inflicted.

Exactly, I think we will have reduced spending power. The club need to clarify this now, but they probably won't, because there'll be meltdown here. We need the new stadium quick.

[CroydonCaptainJack]

Is the 60 million write off by the board trying to cover up 60 million of debt the reason they went for us? We posted 9 odd million but wrote off 60 by turning it into shares?

Yes, I think they just disallowed it. Let's face it, it was smoke and mirrors.

[Olly]

Is the 60 million write off by the board trying to cover up 60 million of debt the reason they went for us? We posted 9 odd million but wrote off 60 by turning it into shares?

Yes, it's basically cooking the books.

[1973 ranger]

So the reality is whether we like or agree with the ruling we are bang to rights and that is why they may have pursued it like they have?

[CroydonCaptainJack]

So the reality is whether we like or agree with the ruling we are bang to rights and that is why they may have pursued it like they have?

I think it seems most of us agree we are bang to rights, however it is the size of the fine that is the issue and whether that is fair or 'proportional'

[Olly]

This is the main point of our appeal. The proportionality of the fine.

The rules were very clear for all clubs on how fines would be levied before we got into trouble. You were allowed to have £8m of debt, any fine over that would be £ for £ on how much you went over. Even with the new increased loss allowances of £39m over three seasons, we were still way over. there may be a few mill difference, but that's it, we have to pay it.

[1973 ranger]

If we knew what the rules were at the time then it is a case of total disregard of the rules and quite frankly major incompetence. While I have never been a Fernandes fan he has really outdone himself on this. Firstly 69 million loss and then the cooking of the books with the share idea. Can he survive as chairman after this? Very slippery move he tried to pull and was caught.