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[Football] QPR finally settle FFP dispute







Herr Tubthumper

Herr Tubthumper

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Jul 11, 2003
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P

pishhead

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Jul 9, 2003
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Everywhere
Jim D said:
Villa coming up soon. I wonder if the EFL were keen to settle with QPR to set a precedent.
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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

Triggaaar

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Oct 24, 2005
50,156
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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.
 


N

NooBHA

Well-known member
Jan 13, 2015
8,584
pishhead said:
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.
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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

Triggaaar

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Oct 24, 2005
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NooBHA said:
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
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So without having a leg to stand on, how have they managed to pay less than half the fine?
 




El Presidente

El Presidente

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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/

75324650-20D3-43A3-9C01-435E6BBB5DDB.jpeg
 












Weststander

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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

studio150

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Jul 30, 2011
29,607
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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

El Presidente

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Weststander said:
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.
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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

Weststander

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El Presidente said:
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).
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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. :smile:


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


El Presidente

El Presidente

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

Weststander

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El Presidente said:
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.
Click to expand...

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


N

NooBHA

Well-known member
Jan 13, 2015
8,584
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.
 


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