I think again, you're misunderstanding their wording. They're saying that if the club took out a loan, that would not count as revenue. Receiving money they have loaned out would of course count as revenue, as it is money that is coming in that can be used to pay player wages, which is the entire point of SCMP.
Plus:
It would be entirely possible for Donald to put more money into the club and for the club to separately wipe off debt, but again, this would be completely unnecessary, as the rule is there to stop a club taking out a loan as 'revenue', rather than having one repaid.
Nonsense! The parachute money was income which counts towards the turnover for SCMP. That parachute money was used to pay off ES/SBC, which created an amount owed to the club by SD/Madrox. When SD/Madrox repay that money to the club, it doesn't count again as income for SCMP, that would be double counting it. Also, there is no mention of loan repayments included in SCMP turnover, see below from
https://www.efl.com/-more/governanc...appendix-5---financial-fair-play-regulations/
2 Football Fortune Income – Definitions
Football Fortune Income includes the following revenue streams on the basis that they can reasonably be regarded as a “bonus” to Clubs during the Reporting Period.
2.1
EFL Cup and EFL Trophy Distributions – Include any EFL Cup or EFL Trophy prize money and facility fees on an actual basis. Budgets should assume the Club does not progress past Round 1 of any competition.
2.2
Football Association Distributions – Include any FA Cup prize money and facility fees on an actual basis. Budgets should assume the Club does not progress past Round 1 of any competition.
2.3
League Parachute Income – Include all Parachute income receivable from The League for the relevant Reporting Period.
2.4
Net Transfer Income – Include actual cash received in the year from other clubs by way of Compensation Fee, Transfer Fee and / or Loan Fee (in these Notes, “
Transfer Fees”), less any actual cash paid to other clubs by way of Transfer Fees. Any advances of Transfer Fees from organisations such as Close Leasing can only be included where the instalments being advanced against fall due within the Reporting Period covered by the relevant SCMP Submission.
2.5
Donations – Donations from independently run lotteries, PFA contributions for Private Medical Insurance, small gifts from benefactors, donations towards Player salary costs, payment for taxation losses etc. are allowable.Significant donations must be evidenced by a bank receipt or statement to show funds have been credited to the Club’s bank account by the end of the relevant Reporting Period.To be included in the Club’s SCMP Submission, a signed Letter of Guarantee (in the format required by The League from time to time and which as at the date of these Rules, is as set out in Appendix D) must be received by The League to confirm that there is no interest linked to the donation or any requirement for future repayment of the donation by the Club.
2.6
Cash Injections – Significant cash injections from companies or benefactors must be evidenced by a bank receipt or statement to show funds have been credited to the Club’s bank account by the end of the relevant Reporting Period.To be included in the Club’s SCMP Submission, a signed Letter of Guarantee (in the format required by The League from time to time and which as at the date of these Rules, is as set out in Appendix D) must be received by The League to confirm that there is no interest linked to the cash injection or any requirement for future repayment by the Club of the cash injection.
2.7
Equity Injections – Only include non-redeemable Equity investments received (or to be received) in the relevant Reporting Period. The:
2.7.1 conversion to Equity of any debt; and/or
2.7.2 writing off of any debt,
where such debt was created in any prior Reporting Period, does not constitute a form of revenue as no cash is provided to the Club to finance wages in the current Reporting Period. Further, any linked transactions whereby loans are repaid followed by an injection of cash in exchange for Equity, will not be allowed. Any injection of cash as Equity must be evidenced by a bank receipt or statement to show funds have been credited to the Club’s bank account, and a copy of the signed Companies House forms confirming the issue of new share capital must be received by The League by the end of the relevant Reporting Period.To be included in the Club’s SCMP Submission, a signed Letter of Guarantee (in the format required by The League from time to time and which as at the date of these Rules, is as set out in Appendix D) must be received by The League to confirm that the Club’s shareholder(s) will inject the necessary Equity into the Club prior to the end of the relevant Reporting Period.
2.8
Accumulated Profit – Only include reserves extracted from audited Annual Accounts that have been filed with Companies House. For the avoidance of doubt any revaluation reserves do not qualify for inclusion.
2.9
Other Income – To be assessed on a case by case basis.
3 Other Notes
There certainly isn't a specific thing that says yay or nay. I don't think that's why he's done it, but it may provide a longer term help to us. I don't see any reason why we wouldn't be asking the question of the EFL, because if he repays £4m next season, for example, then there is no reason why that would not count.
