The FL have placed transfer embargoes (no fees can be paid for new players, only 'free' signings on a 1 in 1 out basis) on Leeds, Blackburn and Forest, based on last season's accounts. Apparently still deciding what to do with us, could be announced soon. The Times estimates we made a £50m loss last season (down from £65m the year before, hooray!). Burnley and Leicester thought to be ok. I think we will try for a behind closed doors agreement, but this may well end up in the courts.
Don't take this as Gospel, but I think the PL has said it will not require any of its members to pay FL FFP fines. But that just delays the problem (we will be relegated again, one day. Possibly soon, though I hope not) and ups the bad feeling if we refuse to play ball. I think the owners (not the club) deserve some kind of sanction for their financial approach (although the amount of their own money they have thrown away could be punishment enough) but some of the sums being mentioned are just vindictive. I would hope that we negotiate the total down and pay it off over a few seasons, faster as long as we stay in the Prem earning more TV cash. Then of course we have to get closer to balancing the books if/when we are back down, otherwise we'll be fined/embargoed again.
Football Fair Play allows the big clubs to get bigger and kills any dreams that the smaller clubs might have. It suffocates opportunity for smaller clubs that have financial backing and ambitions; and fixes the status quo as it is at this point in time. Whilst the intention is to stop clubs wantonly going into administration and failing to pay local businesses by writing off debts, it's widely accepted as too blunt a tool. I say - punish those clubs that go into administration by relegating them to the Conference. That in itself would be a big enough deterrent. Why stifle the ambition of dedicated backers - such as the Mittals and Tony Fernandes at QPR - on some wild moralistic rules that are justified on the basis of being self regulating. I say, put the focus on working with all clubs to ensure that the funding is non-debt financed and is gifted by the clubs backers, effectively written down each year, tied to a personal guarantee to all potential creditors.
I like your thinking re. being sent to the conference, Sku. Look at Rangers in Scotland. I know what went on there was a lot more than just administration but in terms of being a member of the professional leagues, going into administration should be seen as setting up a new club and reapplication should be required.
