City Football Group - Financials & Acquisitions

dummyrun

Registered
Elite Donor
Jan 2, 2018
1,193
5,158
233
Brooklyn, NY
Given that UEFA have previously called out MCFC for utilising payments for "football services" from one CFG club to another, but then explicitly banned any such transfer of monies between CFG clubs as part of their agreement to "only" fine the club £16m instead of the full £49m, and given UEFA pays such incredibly close attention to club accounts and reviews them root-and-branch every year, then either MCFC are being staggeringly blatant about a decision to return to cooking the books in the most flagrant fashion or this whole story is just the result of people who don't get to see the full ins and outs of a set of accounts deciding to draw conclusions based on very limited evidence.

Until UEFA declares that there has once again been a massive manipulation of financials and bans MCFC from the Champions League, I'm going to have to assume the latter is more likely here.
You're cool with assuming, on the strength of your faith in UEFA's integrity, that the club down at the bottom here is turning a profit?

Unrelated but if anybody's in the market a buddy of mine can hook you up with a sweetheart deal on a Tempe beach house.

 
Last edited:

ferrarinycfc

Registered
Dec 6, 2014
1,580
1,937
193
46
Pretty sure I knew from the start CFG started all these clubs to get out of FFP rules. Not that i minded though.

However, stadium aside, they have done really well for NYCFC, and like others said it could be worse, we could be run like the revs or rapids .
 
  • Like
Reactions: Kjbert

SoupInNYC

Registered
Elite Donor
Mar 9, 2015
5,475
12,487
303
33
UES
You're cool with assuming, on the strength of your faith in UEFA's integrity, that the club down at the bottom here is turning a profit?

Unrelated but if anybody's in the market a buddy of mine can hook you up with a sweetheart deal on a Tempe beach house.

It is possible I guess. They amortize transfer fees over the life of the contract, I put together a quick excel book on players with fees over 20m that are still on the team and made a quick table to get to an annual amortization of 120m for this year. Now what I put together is super rough, but it isn't far off from the 121.7m they note in their report. And actually, looking back at it now, some of the large fees I included shouldn't be in there as this annual report is ending 6/30/17.

Whereas they can realize profits on sales of players right away within that year. I'm not saying you're wrong, I'm just saying there appears like there could be a reason for it.
 

Falastur

Registered
Donor
Seasoned Supporter
Mar 20, 2014
3,392
4,592
353
33
Herts, UK
You're cool with assuming, on the strength of your faith in UEFA's integrity, that the club down at the bottom here is turning a profit?
You're mistaking my faith in UEFA's paranoiac compulsion to find reasons to arrest the growth of clubs that are not considered part of its "elite" as faith in UEFA's integrity. UEFA has no integrity, and it is precisely this lack of integrity which has led it at every corner so far to try to find ways to punish MCFC and PSG, and a number of Eastern European clubs with sugar daddy owners.

My point is, if UEFA is drawing a blank in their attempts at punishing those two clubs for FFPR breaches then it means that UEFA genuinely can't find anything seriously wrong with what they are doing any more. If that is the case then my first thought tends towards the idea that Forbes' stories of a huge laundering scheme in the accounts are probably not that close to the mark. Far more likely, to my eyes, that the reason that NYCFC and Melbourne City are showing huge disproportionate losses is because those clubs are genuinely spending money like it's going out of fashion on projects they aren't telling us about. Perhaps the entire $16m purchase of a 50-50 stake in the 5-a-side pitch company came entirely out of NYCFC's budget, since it's largely going to benefit them, for instance? Perhaps the cost of building the new training facility was far higher than people give it credit for?
 

dummyrun

Registered
Elite Donor
Jan 2, 2018
1,193
5,158
233
Brooklyn, NY
try to find ways to punish MCFC and PSG
Isn't that what Barça and Madrid are for?

Far more likely, to my eyes, that the reason that NYCFC and Melbourne City are showing huge disproportionate losses is because those clubs are genuinely spending money like it's going out of fashion on projects they aren't telling us about.
Interesting theory but we all know if NYCFC had any top secret projects K Kjbert would have leaked them by now.
 

LionNYC

Registered
Staff member
Elite Donor
Seasoned Supporter
Jan 2, 2015
16,693
28,726
303
New York, NY
Most recent and best thread to post this: annualreport2018.mancity.com/

23. Related Party Transactions
TRANSACTIONS WITH SUBSIDIARIES OF CITY FOOTBALL GROUP LIMITED

Transactions during the year ended 30 June 2018 with New York City Football Club LLC, a fellow subsidiary of City Football Group Limited, consisted of trading balances totalling £285,000 (2017: £63,000), which are included in debtors due within one year, the provision of services of £346,000 (2017: £1,000) and the purchase of services totalling nil (2017: £87,000).
 
  • Like
Reactions: Kjbert and JohnB

JohnB

Registered
Donor
Mar 8, 2016
136
341
113
So I take it this was a point of conversation at the meeting? I wonder what changed since the year before. Could it be Jack Harrison money maybe?
 
  • Like
Reactions: Kjbert

Shawn Ryu

Registered
Jul 27, 2015
644
458
63
28
Brooklyn
www.instagram.com
A couple of thoughts. Yes, it's a shuffling of deck chairs because the same person is writing the checks no matter what.

It's just a bad look. It's almost as if these other entities exist to absorb costs above and beyond want they want to show on the MCFC balance sheet. The interesting tidbit is that NYCFC, by any measure, looks to be highly profitable in its day to day operations. Our club and it's balance sheet appears to be rather healthy.
If they invest in club and put on a good product I could not give a damn.
 
  • Like
Reactions: Kjbert

413Blue

Registered
Seasoned Supporter
Apr 23, 2014
3,414
5,625
303
MA
Chapter 2 is out

http://www.spiegel.de/international/manchester-city-and-the-fight-against-financial-fairplay-a-1236347.html

So far everything seems to have revolved around Man City playing games with Fair Play rules, but no bombshell yet to me.
Yeah. Pretty much what everyone surely knew already.
I'm conflicted as to what I think about it. Sure, I dont like rule violations, but I also dont like the rules. The rules, while protecting some sort of integrity in the game, and clubs from going bankrupt, it also keeps clubs into their place and ensures the super clubs remain super and everyone else just remains in the Washington Generals role.
Manchester United and Barcelona are super clubs because they have generations of history of legend in uniform and championships to build a brand around. Other clubs need to spend significant sums of money up front and the corresponding revenues will come years behind.
I feel clubs should be free to invest new capital in their clubs up front. Obviously CFG takes this to the ultimate extreme
 

Kjbert

Registered
Seasoned Supporter
Apr 24, 2014
10,684
15,874
303
35
I have a big issue with ownership groups saddling a club with debt.

CFG hasn't done that. They've just paid out of their own pockets to cover losses. What's the problem with that?

I do have a problem that they can't find $15 million to make a splashy MLS purchase
 

Fake Jew

Registered
May 31, 2017
1,007
1,836
173
30
  • Like
Reactions: Kjbert and adam

LionNYC

Registered
Staff member
Elite Donor
Seasoned Supporter
Jan 2, 2015
16,693
28,726
303
New York, NY