Todd Boehly's like a football equivalent of a dung beetle,soon as he smells a deal's close somewhere he waddles along a Clearlake check in hand.Though dung beetles are actually very useful and important unlike Tod.
Always thought these were a bunch of fucking scarabs
Well played, sir. 😆
Fined €10m for historical ffp breaches that their owners informed uefa of when they took over.Years of cooking the books
Not their first time either. A transfer ban would have been far more damaging
Presumably, the Premier League will be all over that.
Going through their account, they look screwed.This season, this ratio must be 90% or less:(Wages+Agent fees+Amortisation and any impairment of transfer fees)/(Adjusted revenue+profit or loss on player sales).Their core revenue (infrastructure improvements aren't included) can't absorb their current costs. Hence, they are a selling club that is dependent of selling players for more than their amortised value. Why is this an issue anyway? It is because they need to accept losses on some of their big money flops like Lukaku to get them off their wage bill. From an accounting POV, it'd be better to continue loaning him out that cut their losses which will put them more in the red. The issue is that there are new limits to the number of players they can loan out.They MUST sell well but clubs know that they are desperate and might try to lowball them which will be pointless. Also, the 9-year contract offered to some players will make their amortised values higher for a longer period of time which would make it hard to shift them for a profit if they flop. For example, Fernandez's amortised value is still around €100m. Now, the profit on sales considers the last 3 years and then divides that by 3. This means that only a 3rd of any profit they make will be factored in.The analysis I did was using their latest accounts (when they add CL football). Now, they aren't even in Europe which will really hit their wallets and tighten their margins.I don't see them passing FFP next season. Will be very interesting to see how they go about it.
They said gimme 10 million and everything's fine again.That'll really put the fear of God into the various sportswashers about.
The punishment for the first offence is a small fine. City got kicked out of Europe for persistent cheating.
Fined €10m for historical ffp breaches that their owners informed uefa of when they took over.
Presume Chelsea will have a Saudi shirt sponsor just about 2-3 days before the season starts
