Been reading up on parachute payments. If I have understood them correctly goes something like this for relegated team. They are paid them at the end of the reason 1st 55% second 45% then if they had been in the premier league for two seasons or more 20%. If they get promoted then the payment for that season is not paid. I think that the unpaid amounts are then paid to EFL clubs.
So if all three relegated clubs go back up then there would be circa 165 million to go to the EFL
55 million although not yet in their pockets this season would be available to budget against, but wouldn’t hit their account if they went up. Probably me being a bit thick but would that then be an overspend?
I’ve honestly got no idea.
But if they achieve promotion ‘off the back’ of engaging in financial activity that breaches PL & EFL rules
they shouldn’t then benefit from that promotion in any shape or form.Seems to fit todays way of thinking, cheat, lie, steal to gain and advantage and those who committed breaking the law are still allowed to be rewarded while claiming to be a victim. These owners will take the hit of points and embargos and take the prem money no problem.
For the FA and EFL its shows they are powerless and don't have a solution to the problem. The financial wealth that drives owners to cheat to gain prem money is far too great And unfortunately chasing the money while selling it as a dream to fans will not stop. Or will not prevent another club getting into serious trouble that ultimately hurts the fans.
For the FA and EFL its shows they are powerless and don't have a solution to the problem. The financial wealth that drives owners to cheat to gain prem money is far too great And unfortunately chasing the money while selling it as a dream to fans will not stop. Or will not prevent another club getting into serious trouble that ultimately hurts the fans.
Leicester are fucked. They will be a league 1 club within 3 years, as will Nottingham Forest. Manchester City have way more clout than Forest and Leicester so i suspect they will find their way around severe punishment but Leicester and Forest rolled the dice and will pay the severest of prices.
I actually have a lot of sympathy for their fans. Two good passionate fanbases who have been let down by greedy owners. Leicester's recent successes will forever be tainted as it seems they blatantly cheated, which many of us already knew anyway years ago.
I actually have a lot of sympathy for their fans. Two good passionate fanbases who have been let down by greedy owners. Leicester's recent successes will forever be tainted as it seems they blatantly cheated, which many of us already knew anyway years ago.
Goes to premier league clubs j believe
I like Balague but that is just rubbish they have broken the rules and must be punished, I would go further and take their parachute payments away and give them to the other championship teams.
In unrelated tweets
Ticket link goes to a dead page. Not sure he's going to get the attendance he hopes...
Yes that's what I read, any unused parachute money gets redistributed to the Premier league
Former Everton CEO says Leicester's financial breach is the biggest ever seen.
Their accounts should be public by Tuesday. Some talk of £200m+ losses over the 3 year period but can't imagine that's right, would be astonishing.
Their accounts should be public by Tuesday. Some talk of £200m+ losses over the 3 year period but can't imagine that's right, would be astonishing.
Wouldn't be surprised, hence the PR and aggressive approach to defending themselves
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If they were losing that much in the Prem then surely there's got to be a pretty good chance they're in breach of EFL FFP rules as well hasn't there?
Their 'urgent legal action' is gonna do well to be completed before Tuesday
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If they miss out on promotion, Leicester could start next season in a protracted legal battle with both the EFL and the Premier league, with about 16 regular squad players topped up by youngsters, a hefty points deduction, and unable to register new players (without selling).
And a good chunk of that 16 would probably need to be apart of a fire sale to ensure they can shrink the wage bill to an acceptable level.
They really, really need promotion this season, even if it means starting the Prem season on -10 or more points.
And a good chunk of that 16 would probably need to be apart of a fire sale to ensure they can shrink the wage bill to an acceptable level.
They really, really need promotion this season, even if it means starting the Prem season on -10 or more points.
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Could be right considering that they were bailed out to the tune of £194 million last time.
It's crazy how everyone dreams of getting to the EPL and all the financial rewards that entails but no end of clubs sem to end up in real difficulty.
To cheat to that extent only to end up getting relegated & then choking the league below as well really is hilarious.
Yep, 100% they have broken EFL rules too.
Their pathetic argument is that neither the PL or EFL rules apply to them. In which case, the only answer would be to kick them out entirely imo.
We could do with Leicester winning on Monday v Norwich, regardless of our dislike for them.
I'm due to be stopping at a Leicester (ST holder) supporting mate's house in Teignmouth, the weekend of the play-off final/FA Cup final. I'm going to implode if somehow we end up meeting them in the Play Off final (unlikely, as we'd more likely meet them in the 3rd v 6th play off semi) Regardless, there is an ever increasing chance of one of us making the play off final. One/both of us, are likely to have to travel from Devon to Wembley to Devon, then be courteous/gracious with the other. Going to test our friendship !
I work in Leicester so I’m surrounded by them, a few have been so up their own arses about being promoted by March, one season tour of the Championship etc I’m loving the pending imploding of them, hope they take points off Norwich for our benefit but hope they royally f**k up going back up.
Yeah I text my.old manager at work when we beat them. Saying how times change etc as I spent a decade of him taking piss out of cov and him experiencing league and cup success
His reply was a a nice one.but he said enjoy it but we will we be seeing you in the prem next season? *Thinking emoji*
They were so sure they going up. They not taking this current squeaky bum time well
Their defence is that they don't have to have a defence, this is ludicrous.
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From what I understand it kicks them down the road, they’re in shit with the premier league, so the 160m parachute payment will just plug the gap
They’d be in a much better position but still be in trouble and have a points deduction and back in Championship the following season. Winning the PL to an average Championship club with a decade will be some downfall.
Depends on how severe the PTS deduction is. And wether they could spend on transfers in summer.
