Calvin Plummer
Vital Football Legend
Wray hasnt been gone that long tho- thought he only went last year?
He 'retired' two weeks ago and transferred his shares to his children whom he employs...
Wray hasnt been gone that long tho- thought he only went last year?
Wasn't Morris being a twat with the EFL over TV rights as well a while ago?
He 'retired' two weeks ago and transferred his shares to his children whom he employs...
im not sure the EFL will have the bottle to push this, but with saracens not only relegated but 35 point fine and 5mil fine it shows the powers that be are clamping down...will football have the stones to follow suit?
What an utter ****. He seems so shady he could even scam credit report clanger the scammer.
He 'retired' two weeks ago and transferred his shares to his children whom he employs...
If I had thought that up I would be very proud of myself to be honest.This is a man who made his initial fortune by selling Stock Market Tip Sheets and then betting on the tips; something which is now highly illegal.
In the good old days you could buy shares on credit and not pay anything for two weeks; this meant it was possible to buy shares, watch the share price rise, and then sell them, pocketing the profit without paying out a penny.
Once the mugs who purchased the Tip Sheets started buying up the shares, mainly in what is the AIM market today, the prices would inevitably rise.
Wray describes the time as not something he was particularly proud of; Yeah, I bet.
Nah, I went there once, they are all kokanee wankaz.Agree with all of that but plumbs is right(fook me how annoying is that). Norf landan is about lefty metropolitan metrosexuals patronising everyone else, particularly anywhere north of watford, while stealing their money.
East landan with the pearly wotnots are scum mainly because of wet spam and the tendancy to get extreme.
Landan is all shit but have to know what shit is where and not get your shit all mixed up
Derby County may have incurred losses of as much as almost double the permitted £39 million for a three-year period after introducing an “unusual” accountancy policy for players.
Last week Derby were charged by the Football League with a breach of its rules that involves the valuation of their Pride Park Stadium. Derby responded on Friday night by declaring the EFL charges “unlawful”, with the matter likely to end in court. But The Times understands the club may have suffered a further £30 million in losses in the three seasons up to June 2018 because of an accounting policy said to be unique to the English game.
Most clubs have a policy which recognises a player is worth nothing at the end of their contract, so his value decreases in proportion to the length of time left on his deal.
It means if a £10 million player signs a four-year contract, the club calculates a loss of £2.5 million a year. But Derby introduced a policy at the start of the three-year period in question that involved applying “residual values” with an amortisation rate, sources say, nearer 10 per cent.
If the EFL calculates Derby’s losses using the standard amortisation rate, it could potentially mean an even greater breach of its profit and sustainability rules.
Kieran Maguire, a lecturer in football finance at Liverpool University, who alerted the EFL to the introduction by Derby of “residual values” in June 2018, described it as an “unusual accountancy practice”, even if it is not illegal.
The Sky Bet Championship club avoided sanctions over its stadium sale by using a company owned by the chairman and owner, Mel Morris, to buy Pride Park for £81.1 million. As The Times revealed last week, however, an independent valuation commissioned by the EFL is said to have come in at about £49 million.
If found guilty, Derby could be hit with a points deduction. Birmingham City, their Championship rivals, were deducted nine points last season after being found to have breached the EFL’s profitability and sustainability rules. The EFL said that the club had incurred losses of nearly £48.8m between 2015 and 2018 — almost £10 million more than the accepted level.
Derby last night declined to comment but they made it clear last Friday that they would ”strongly contest” the charges.
Fine. let them contest the charges and have the points deduction next season to ensure they do fuck all next season as well.
Derby County may have incurred losses of as much as almost double the permitted £39 million for a three-year period after introducing an “unusual” accountancy policy for players.
Last week Derby were charged by the Football League with a breach of its rules that involves the valuation of their Pride Park Stadium. Derby responded on Friday night by declaring the EFL charges “unlawful”, with the matter likely to end in court. But The Times understands the club may have suffered a further £30 million in losses in the three seasons up to June 2018 because of an accounting policy said to be unique to the English game.
Most clubs have a policy which recognises a player is worth nothing at the end of their contract, so his value decreases in proportion to the length of time left on his deal.
It means if a £10 million player signs a four-year contract, the club calculates a loss of £2.5 million a year. But Derby introduced a policy at the start of the three-year period in question that involved applying “residual values” with an amortisation rate, sources say, nearer 10 per cent.
If the EFL calculates Derby’s losses using the standard amortisation rate, it could potentially mean an even greater breach of its profit and sustainability rules.
Kieran Maguire, a lecturer in football finance at Liverpool University, who alerted the EFL to the introduction by Derby of “residual values” in June 2018, described it as an “unusual accountancy practice”, even if it is not illegal.
The Sky Bet Championship club avoided sanctions over its stadium sale by using a company owned by the chairman and owner, Mel Morris, to buy Pride Park for £81.1 million. As The Times revealed last week, however, an independent valuation commissioned by the EFL is said to have come in at about £49 million.
If found guilty, Derby could be hit with a points deduction. Birmingham City, their Championship rivals, were deducted nine points last season after being found to have breached the EFL’s profitability and sustainability rules. The EFL said that the club had incurred losses of nearly £48.8m between 2015 and 2018 — almost £10 million more than the accepted level.
Derby last night declined to comment but they made it clear last Friday that they would ”strongly contest” the charges.
The FFP losses are calculated over a rolling three years, therefore I would assume that if you make a massive loss in one year, you would be penalised for three years, unless you can bring things back into line.
im no financial expert but surely you adhere to the rules or you dont
other teams seem to manage
Points deductions are generally 1 point for every million over the allotted £39m
Birmingham were just under £10m over so got 9 points. If Derby are nearly twice over the limit you could be talking 25 points+
I agree that that is far more likely than a relegation threatening deductionCan't see that being the case - Derby will wriggle out of it somehow.