[Football] QPR finally settle FFP dispute

[warmleyseagull]

Taken about five years too long, but finally settled:

https://www.thetimes.co.uk/article/...7?shareToken=4341b36bb73ad39b87965858858fcb67

 

[Herr Tubthumper]

Taken about five years too long, but finally settled:

https://www.thetimes.co.uk/article/...7?shareToken=4341b36bb73ad39b87965858858fcb67

Good news. And shows the FL are not as toothless as many suggested when this rule came into effect. That said, what is the situation with the other cases?

 

[warmleyseagull]

Good news. And shows the FL are not as toothless as many suggested when this rule came into effect. That said, what is the situation with the other cases?

They mention Leicaester and Bournemouth as settled. Not sure what others there are.

 

[Jim D]

Villa coming up soon. I wonder if the EFL were keen to settle with QPR to set a precedent.

 

[pishhead]

Villa coming up soon. I wonder if the EFL were keen to settle with QPR to set a precedent.

It looks like it was QPR who were keen to settle.

The biggest hindrance now will be that whoever they try to buy now will be more expensive for them as everyone knows they will have to have their squad in place for the season by window end.

 

[Triggaaar]

So the fine is £17m, plus £3m for the lawyer.

Not perfect, but better than EP predicted, and I'm delighted the EFL didn't completely fold.

 

[NooBHA]

It looks like it was QPR who were keen to settle.

The biggest hindrance now will be that whoever they try to buy now will be more expensive for them as everyone knows they will have to have their squad in place for the season by window end.

QPRs Barristers have been telling them from the beginning they didn't have a legal leg to stand on. They just wanted to drag it out until they had got operating costs down to a level where they could afford to pay the fine

 

[Triggaaar]

QPRs Barristers have been telling them from the beginning they didn't have a legal leg to stand on. They just wanted to drag it out until they had got operating costs down to a level where they could afford to pay the fine

So without having a leg to stand on, how have they managed to pay less than half the fine?

 

[El Presidente]

As some of you may know, [MENTION=6886]Bozza[/MENTION] and I run a football finance website. This is our take on how the EFL have capitulated and the winners are the accountants and lawyers

http://priceoffootball.com/qpr-ffp-fine-everything-counts-in-large-amounts/

 

[NooBHA]

So without having a leg to stand on, how have they managed to pay less than half the fine?

The cost to the owners in real terms is actually more than the original fine. Who it goes to is irrellevant

 

[Goldstone1976]

As some of you may know, [MENTION=6886]Bozza[/MENTION] and I run a football finance website. This is our take on how the EFL have capitulated and the winners are the accountants and lawyers

http://priceoffootball.com/qpr-ffp-fine-everything-counts-in-large-amounts/

Nice article, clearly explaning your analysis and perspective. Kudos.

 

[J2G4U]

Horrible club

 

[Crispy Ambulance]

As some of you may know, [MENTION=6886]Bozza[/MENTION] and I run a football finance website. This is our take on how the EFL have capitulated and the winners are the accountants and lawyers

http://priceoffootball.com/qpr-ffp-fine-everything-counts-in-large-amounts/

View attachment 99202

Superb!

 

[Weststander]

Brilliant, patient work by the Football League.

Those eye watering sums to be paid out in hard cash by QPR, plus their own unknown collosal legal fees, give a de facto victory for the FL.

Tony Fernandes blatantly cheated, and karma, the ******** has lost £100m's on his experiment:

1. Buying an expensive squad of mercenaries in the first place.
2. Buying another half squad of mercenaries to cheat to a second promotion.
3. Finally floundering in the FL, with huge contracts to pay.
4. Now these huge costs.

A good day for football and justice.

 

[studio150]

Careers Master to pupil.

What do you want to be when you leave school?

Pupil

An Accountant

Careers Master

Not a PL footballer

Pupil


No sir, accountants are far more creative than most midfield players these days

 

[El Presidente]

Brilliant, patient work by the Football League.

Those eye watering sums to be paid out in hard cash by QPR, plus their own unknown collosal legal fees, give a de facto victory for the FL.

Tony Fernandes blatantly cheated, and karma, the ******** has lost £100m's on his experiment:

1. Buying an expensive squad of mercenaries in the first place.
2. Buying another half squad of mercenaries to cheat to a second promotion.
3. Finally floundering in the FL, with huge contracts to pay.
4. Now these huge costs.

A good day for football and justice.

I disagree.

The £17 million is being paid out over ten years, factor in the four year delay in reaching the settlement and it has a present value cost of £8.4 million. Contrast that to the £168 million of PL broadcasting rights and parachute payments earned by QPR since promotion in 2014 and there’s only one winner for me (two if you include the accountants and lawyers).

 

[Weststander]

I disagree.

The £17 million is being paid out over ten years, factor in the four year delay in reaching the settlement and it has a present value cost of £8.4 million. Contrast that to the £168 million of PL broadcasting rights and parachute payments earned by QPR since promotion in 2014 and there’s only one winner for me (two if you include the accountants and lawyers).

I bow to your knowledge.

I'm taking a different angle, looking at arrogant Fernandes waltzing into English football, and thinking he can cheat to become a permanent part of the £100m a year PL club.

Since their relegation, the seasons are mounting where they're foregoing £100m each time (less initial parachute money mitigation).

I know it's a matter of fact about the £168m and they wouldn't have got that without cheating. But cocky Fernandes and their arrogant little fans would've been confident that they were to be externally PL (especially with Mittal behind the scenes).

Their continued Championship nothingness, makes me feel a lot better about the whole affair.


One question - have or are the FL tightening this further?

 

[El Presidente]

One question - have or are the FL tightening this further?

Under the latest version of FFP clubs have to send in interim accounts/ forecasts for the present season to EFL by 31 March. In theory* EFL have a full palette of sanctions including point deductions, which could be used to prevent promotion.










* In practice expect the club in question to employ very aggressive and expensive lawyers to appeal and delay the deduction, ensuring their client does play in the EPL the following season.

 

[Weststander]

Under the latest version of FFP clubs have to send in interim accounts/ forecasts for the present season to EFL by 31 March. In theory* EFL have a full palette of sanctions including point deductions, which could be used to prevent promotion.










* In practice expect the club in question to employ very aggressive and expensive lawyers to appeal and delay the deduction, ensuring their client does play in the EPL the following season.

Thank you that's reassuring . Instant actions, rather than a long drawn out legal battle.

 

[NooBHA]

I agree your synopsis, although I think there is a ''pluspoint'' to it.

The ''incidental loan'' injected by the owners into QPR was lost to them, in that it looks like it was ruled that it had to be ''converted to equity''. And that sets a ''case law'' precedent, albeit not a ''binding case law'' because EFL Regulations can't really be binding in General Law I wouldn't have thought.

I agree that the Club QPR as a whole benefited but Owners themselves might think twice about going down this Avenue in the future if their investment is almost certainly going to be lost to them.