Gemmill

Nobody knows. They're gonna have to have new rules and those rules are going to have to include shareholder loans as it's been deemed unlawful to exclude them. Or possibly more likely they'll now have to come up with some generally more lax rules to appease the big lads who have been getting through PSR unscathed because of their shareholder loans. Any ideas of quickly spinning up some insane sponsorship deals in the meantime are probably fantasy - they'll just go unapproved until the new rules are in place. We'll just have to wait and see.

Unfortunately we'll have to wait to get the other side of the story because three red flags means that mag caught a coma. Hopefully he makes a full recovery.

Cant speak with your mouth full.

The ruling states that the APT rules are unlawful because they exclude shareholder loans. So I don't see how the PL can just go "Aye but that's how we like them. We're keeping the interest free loans out of the rules". They've got themselves in a right fucking mess. And yet they'll still insist that they can self-regulate.

Is this right that they're now gonna be included? Cos it's gonna cause significant bother for some teams if so. And the rule should be applied retrospectively back to the point that these initial rules were cooked up by a bunch of clubs that knew they were taking the piss.

It's shit man. It's why I just wanted us to spend all the cash on Guehi in the summer if that's who Howe wanted, cos I'm sick of worrying about stupid rules.

Basically.... If PIF loaned us £500m to spend on players, nothing about our PSR situation would be improved. Loans dont get offset against your PSR profits or anything. Getting the money at zero interest is nice, but if we spent that money on players, everything about those transactions would be the same as before. Same amortisation costs, same player wages, and same impact on PSR. Where the clubs with the interest free loans are benefiting is that there is an insistence that all of our sponsorship deals are at market value/on market terms. But their loans aren't. If they're already sailing close to the wind on PSR, then having those loans on normal commercial terms would kill them. Which is why it's ridiculous that they aren't a part of the rules. Even if the rules stated that you can have your interest free loans, but for the purposes of PSR, the PL will apply a notional market rate of interest to those loans and that figure will be used in your calculation. That would be a fair treatment.

I answered his question in my post before that one.

Everton are basically insolvent though. It demonstrates how stupid the rules are that they are getting small point deductions for "sustainability" issues on profit, whilst being allowed to loan money at zero interest on a monthly basis just to meet their operating costs. But there's nothing in the rules about these loans which, if they were at arms length terms (which are what the PL are insisting we do with all sponsorship deals), would a) have buckled them because of the interest cost, and b) would eventually have dried up as it became increasingly apparent that they're in serious financial trouble.

Loans themselves don't really help with PSR. But when you've got a bunch of loans on your balance sheet, having them at zero interest means you're skipping a pretty massive chunk of cost which would otherwise reduce your profits and put you closer to the PSR trouble zone. We don't have a cash problem, we have a profit problem. But we don't have debt, so giving us interest free debt wouldn't help.

Everton must not have read the section of City's* case that referred to shareholder loans. *I'm not writing Man every time when we all know which City I'm talking about, so FUCK. OFF.

Good point, that's presumably Moshiri only. No wonder the poor cunt said he wasn't prepared to put any more cash in.

Be nice if this was the PL starting to take debt a bit more seriously in their PSR calculations. Although, with Arsenal and Liverpool both carrying significant debt to their owners, and Man United being massively in debt, it seems unlikely.

HALLO EVERTON! And the OMG HOW DO THEY DO IT boys, Brighton as well. That's how they fucking do it.

The Red Cunts and the Quisling Five.

I assume they're the go-to for stadium redevelopment, in the absence of anyone else with property experience (until now). A typically pedantic intervention from you though.

Wonder if this might signal the Reubens stepping away from day to day involvement too, if this new bloke is their proxy on the Board.

Absolutely unavoidable, I'm afraid.

You've found your Rudy.

Very Trump-like, this from Gloom. Steals the position of thread starter and now wants to fall back on traditions and likes to talk up his terrible record. "We're gonna win so big. The only way we lose against Brighton is if they steal this off me." etc.

Off with his head.

It would be some turn-up for the books if we won a PL game under your "reign".

It's What's Inside is something a bit different on Netflix. We both enjoyed it, bit of a head scrambler in parts, but in a good way.