Fulham debt free

[Me-ate-Live, innit??]

Wasn't Mo going to sue  Premier League over fair play plan ??
Fulham, Citti and Villa were against it  and another club .....

He probably found that not enough Premiership Clubs would support his objection,  14 of the 20 needed to,
so this was the way to keep us from falling foul of the ruling.

Which is :


http://www.bbc.co.uk/sport/0/football/14825620
Uefa plans tough action on financial fair play

By Matt Slater
Sports news reporter in Geneva
Uefa will withhold prize money and issue transfer bans on clubs failing to meet the new financial fair play rules.
The ultimate sanction remains a ban from European competition but Uefa told the European Club Association (ECA) it wanted other penalties at its disposal.
"It's good Uefa are thinking penalties that fit the crime better than the usual sporting sanctions," Inter Milan chief executive Ernesto Paolillo said.
"This will give the push that some clubs need."
"Football clubs understand rules, it's what we're used to, so we wanted to hear more about the penalties," Paolillo added.
"
Always buying, buying, buying isn't rational
"
Karl-Heinz Rummenigge
Bayern Munich chief executive
Alarmed about the amount of debt carried by Europe's leading clubs, and the fact that only 20% of them turn a profit, Uefa president Michel Platini is determined to encourage a more sustainable business model.
The rules, designed to ensure clubs live within their means over a rolling three-year period, do not come into full effect until the 2013-14 season but this campaign is the first that "counts" towards the initial assessment by the governing body's FFP panel.
That panel is headed by the former Prime Minister of Belgium Jean-Luc Dehaene, who spoke exclusively to the BBC last month  about his hopes for the new system.

[Terry Angus]

This is a great gesture by the man, and he deserves all our best wishes for making it.

In respect of whether this is to position us for a sale, or for the new fiscal fairplay rules due to take effect or just a whim, I would note that if what has been stated in this thread is true, and that Jambo's assertions are correct (100 M equity and 50 M debt for example) and the 50M debt has been written off, it should make no difference to any sale at all. As if the sale was last year, the new buyer would have paid 100M for the equity and an additional 50M to settle outstanding debt, but now would just pay for the 150M equity - no actual purchase price difference.

By all accounts from the club, as I believe, then not only has planning permission been granted, but the plans are drawn up and work due to commence in the close season? If so, then there has already been an oop expenditure by the club that is not recoupable upon any sale.

I hope that our benefactor simply has in mind the future of the club, inasmuch that he didn't wish us to become embroiled in any issues with the new fiscal rules, and also, given his age/health, he further didn't wish, should he pass away, that the debt be called in by his estate and Fulham forced into a fire sale and possibly administration.

I prefer to believe that this was a magnanimous gesture by MaF and that he just wants the best for the club, and nothing much more.

Thanks MaF, you are a gent.  :scarf:

+1

[fulham traveller]

i am very pleased, but a part of me is cautious,

[NogoodBoyo]

I'm with Big Don on this one.
Nogood "ten gallon hats and all, isit" Boyo