The Green Programme A ‘regulator’!!!!
It’s such a bizarre response.
Just think about what you are saying.
1) Who pays for it (look out for the gravy train)
2) Who decides what they regulate and what they don’t?
3) And what does it mean - another layer of bureaucracy… more cost to fans ….
Be careful what you wish for.
4)The FCA and the Labour Government (in an attempt to beat the market-end boom and bust yawn yawn) and give some real power to the regulator by employing totally inexperienced graduates……managed such levels of ineptitude that they allowed record lending to those who couldn’t afford it after the sale of all our mutual companies (bribery by shareholding) and a resultant crash of the banks….
Whilst happily raking in the taxes during the lending spree - and then managing to overspend on that….
Hurray for regulation…...
5) We will be paying for it for years and years….
We (RFC) are in the crap - it will be resolved and we will move on….
Foreign owners; relying on offshore structures for financing should not be able to purchase clubs in UK.
Some of what has allegedly gone on at City is outrageous but they will probably get away with it all, If they don’t, they’ll be going out of business.
The current ‘regulators’ won’t allow it…..
Hurray for FFP….
And you are probably a Socialist who can propagate two or more totally contradictory principles simultaneously and cannot make a reasoned case for anything - and instead, simply makes silly (or worse) insulting personal comments.
The most regulated markets are often the most corrupted, the most ineffective and the most expensive.
6)The Banks were regulated by a socialist government…. and that went really well…..
That answer is to penalise Clubs in real time - not retrospectively.
It’s the retrospective penalties and the chance of avoiding them that leads to owners taking every risk to get to the promised land - succeed and all is fine (Villa, Bournemouth etc) fail and you become a bankrupt (Derby, Southampton, Wigan,, Reading etc).
No more quangos for us all to fund thank you.
I put those numbers in.
1) It will most likely be levy funded on the clubs it regulates. So lets say the regulator employs ~50 people at an average remuneration of 65k its going to cost £3.25m in fees. Some IT equipment, and some office space probably round the corner from DCMS. So could probably run this thing for about £5m a year.
2) DCMS will decide what they regulate and what they won't. Which will be set out in the legislation.
3) I imagine the fans will be able to absorb £5m cost of a regulator, given that one imagines that split between 92 professional clubs it will cost each club £50,000. And obviously the levy will be larger for the PL clubs who require more regulating than the smaller ones who do not.
4) The FCA was created by the coalition, not Labour. The FSA did prudential regulation pre-financial crisis. No real reason to assume that a regulator tasked with making football clubs sustainable will suffer from the same problems as one in the 00s tasked with prudential lending.
5) See points 1 and 3
6) Banks fail all the time. In the financial crisis they failed in the US, UK, Iceland, and Netherlands during financial crisis and beyond. Was George Bush a socialist? He was President in the US when the crisis happened?
It sounds like you think self regulation in football is better than regulation. But the clubs are already self regulating so it's clearly something the clubs want.
I share your scepticism that a regulator can prevent an owner giving up mid-season a la Dai, but its probably better to try to fix that system than leave it to the clubs to do themselves which we already know isnt working.