drew
Drew
Having watched Attilla's onstage interview with Paul Barber I was intrigued to understand what the penalties are for clubs if they if they fail the FFP test.
Seems that if you gamble and overspend in an attempt to get out of the division and succeed, you are rewarded for your endeavours. This is on the basis that, apparently with the agreement of the Premier League, if you overspend then you are fined the equivalent of the difference between the overspend and whatever FFP limit is applicable. For example, the limit this season, assuming the a chairman covers losses above £3m is £8m. If you spend £30m in getting promoted then you are fined £22m. However, the gamble has paid off because of the mega money you are now getting in the Premiership! Add into that the fact that you are exempt in the first year you get relegated, you are quids in.
What would make sense is that, coupled with the fine, you have a transfer embargo imposed for your first season in the premiership, almost guaranteeing relegation. You will probably still be financially better off in the interim but it seems better than a paltry fine!
Personally, I think FFP is the way forward but the sanctions against clubs that gamble and succeed are not severe enough to act as a deterrent!
http://www.financialfairplay.co.uk/resources/wsc0001.pdf
Seems that if you gamble and overspend in an attempt to get out of the division and succeed, you are rewarded for your endeavours. This is on the basis that, apparently with the agreement of the Premier League, if you overspend then you are fined the equivalent of the difference between the overspend and whatever FFP limit is applicable. For example, the limit this season, assuming the a chairman covers losses above £3m is £8m. If you spend £30m in getting promoted then you are fined £22m. However, the gamble has paid off because of the mega money you are now getting in the Premiership! Add into that the fact that you are exempt in the first year you get relegated, you are quids in.
What would make sense is that, coupled with the fine, you have a transfer embargo imposed for your first season in the premiership, almost guaranteeing relegation. You will probably still be financially better off in the interim but it seems better than a paltry fine!
Personally, I think FFP is the way forward but the sanctions against clubs that gamble and succeed are not severe enough to act as a deterrent!
http://www.financialfairplay.co.uk/resources/wsc0001.pdf