Embargos, HMRC Payment defaults, non payment of wages, the usual under Dai Wrongge

[Sutekh]

didnt know where to put this so I guess here is as good as any but if man city get found guilty we could be in for a 750k windfall

https://rdg.today/why-reading-fc-and-ot ... -breaches/

Well that'll be something to look forward to in a decade or so.

[Snowflake Royal]

LOL, some slot machine nerds have used some vague data to calculate what money everyone else would have had if City hadn't competed in the PL and were not replaced by anyone else.

Even if they get found guilty of most counts and stripped of their titles, this won't happen.

[Brogue]

ian has spoken

[JedMaxwell]

City might get found guilty on one of their charges, then fined about £50 and that'll be the end of it as far as the authorities are concerned.

[Sutekh]

City might get found guilty on one of their charges, then fined about £50 and that'll be the end of it as far as the authorities are concerned.

Surely not

[Franchise FC]

City might get found guilty on one of their charges, then fined about £50 and that'll be the end of it as far as the authorities are concerned.

Surely not

I don’t know enough of most of the charges to comment.
The one section I know anything about at all is the ‘inflated sponsorship’ bit
City will win those because who is to say what any sponsorship deal is ‘worth’ ?
Takes the list down to c105

[Forbury Lion]

I love that the agent had the cojones to send an unsolicited invoice for £800,000 without a formal contract in place. And he seemed genuinely surprised when we didn't pay it

I too would like to try my luck invoicing random companies for ~1 million pounds, you never know

There was (and possibly still is) a major scam where a group would issue invoices for relatively small amounts to thousands of companies and it’s surprising how many simply paid them because their systems basically just approve anything up to a certain level

From what I reme they only got caught because they upped the values and that raised questions
Greed will always get you in the end

I used to work at a company where we had many big companies as customers including banks and you'd be surprised how often these banks would manage to double-pay an invoice for 6 figure sums so for them to pay small amounts is not a surprise.

I've seen "Advertisement in Magazine £1,000" on the invoice from some marketing agency, The scam is they claim someone there booked it and they have a copy of the magazine they can send to prove it. This scam agency was in Liverpool and they would have gotten away with it because the dopey Marketing Director signed it off for payment, however someone in her team was a Scouser and they spotted it was a scam because they once got sent to work for that company and walked out when they explained how the scam worked as she wanted no part of it.

The larger companies tend to have controls in place - nothing gets paid unless a valid Purchase Order is provided, the small companies are so small everyone knows what they're spending, but the medium companies have no controls and spend enough on marketing to not remember or miss £1,000.

[Armadillo Roadkill]

If an invoice doesn't quote a purchase order that matches one that was approved it isn't getting paid. Unless you operate your company without any sort of accounting / finance software this scam would never work. I didn't do that, even as a sole trader.

Auto approval under a certain value still needs to meet certain criteria, such as the PO being valid.

[Forbury Lion]

I love that the agent had the cojones to send an unsolicited invoice for £800,000 without a formal contract in place. And he seemed genuinely surprised when we didn't pay it

I too would like to try my luck invoicing random companies for ~1 million pounds, you never know

There was (and possibly still is) a major scam where a group would issue invoices for relatively small amounts to thousands of companies and it’s surprising how many simply paid them because their systems basically just approve anything up to a certain level

From what I reme they only got caught because they upped the values and that raised questions
Greed will always get you in the end

I used to work at a company where we had many big companies as customers including banks and you'd be surprised how often these banks would manage to double-pay an invoice for 6 figure sums so for them to pay small amounts is not a surprise.

I've found instances where the company I worked for recharged costs to another company and recharged it twice, then their finance team refused to accept the credit because we didn't have enough backup for it, so I said no problem, we won't recharge the credit and they were happy with that

[Forbury Lion]

If an invoice doesn't quote a purchase order that matches one that was approved it isn't getting paid. Unless you operate your company without any sort of accounting / finance software this scam would never work. I didn't do that, even as a sole trader.

Auto approval under a certain value still needs to meet certain criteria, such as the PO being valid.

Plenty of companies have directors who just approve spend outside the system.

Even where I work they have some "other supplier" manual payments going through and I then question that we have to identical payments made for what appears to be the same thing, so they they have to go ask for a refund

[Mr Angry]

Is it right to assume that everyone got paid, on time and in full, at the end of May?

[Stranded]

Is it right to assume that everyone got paid, on time and in full, at the end of May?

Yes the did according to James Earnshaw.

So someone is still paying the bills.

[blythspartan]

Is it right to assume that everyone got paid, on time and in full, at the end of May?

Yes the did according to James Earnshaw.

So someone is still paying the bills.

I just hope they haven’t had to start spending the season ticket money already.

[Stranded]

Is it right to assume that everyone got paid, on time and in full, at the end of May?

Yes the did according to James Earnshaw.

So someone is still paying the bills.

I just hope they haven’t had to start spending the season ticket money already.

Would it be early? ST money is generally used to fund clubs over the summer when they have no other income.

[blythspartan]

Yes the did according to James Earnshaw.

So someone is still paying the bills.

I just hope they haven’t had to start spending the season ticket money already.

Would it be early? ST money is generally used to fund clubs over the summer when they have no other income.

Fair enough, I just assumed it would go towards next season’s expenditure. So basically, potential new buyers may no longer be funding the club.

[Stranded]

I just hope they haven’t had to start spending the season ticket money already.

Would it be early? ST money is generally used to fund clubs over the summer when they have no other income.

Fair enough, I just assumed it would go towards next season’s expenditure. So basically, potential new buyers may no longer be funding the club.

Only if, we have sold enough STs so far to cover the outgoings. Reported that Chiron paid the tax, so seems reasonable at this point to think they also paid the wages, at least in part.

[Snowflake Royal]

Yes the did according to James Earnshaw.

So someone is still paying the bills.

I just hope they haven’t had to start spending the season ticket money already.

Would it be early? ST money is generally used to fund clubs over the summer when they have no other income.

Well the season doesn’t normally end until May and contracts officially end rump of June. And ST income covers matchday attendance next season.

So I'd like to think ST money is allocated to cover a %age of costs each month from July/August through to June/July.

Prize money etc won't be paid out until the end of the season, so any well run club should be using that to round out the end of season costs.

[Franchise FC]

I just hope they haven’t had to start spending the season ticket money already.

Would it be early? ST money is generally used to fund clubs over the summer when they have no other income.

Well the season doesn’t normally end until May and contracts officially end rump of June. And ST income covers matchday attendance next season.

So I'd like to think ST money is allocated to cover a %age of costs each month from July/August through to June/July.

Prize money etc won't be paid out until the end of the season, so any well run club should be using that to round out the end of season costs.

Cash flow and revenue are not the same thing
Cash will be used when required
Revenue allocated to relevant months simply as an accounting treatment

[Snowflake Royal]

Would it be early? ST money is generally used to fund clubs over the summer when they have no other income.

Well the season doesn’t normally end until May and contracts officially end rump of June. And ST income covers matchday attendance next season.

So I'd like to think ST money is allocated to cover a %age of costs each month from July/August through to June/July.

Prize money etc won't be paid out until the end of the season, so any well run club should be using that to round out the end of season costs.

Cash flow and revenue are not the same thing
Cash will be used when required
Revenue allocated to relevant months simply as an accounting treatment

Well, yeah - I guess. But it rather feels like robbing next year to pay today. Which seems a losing strategy.

[Franchise FC]

Well the season doesn’t normally end until May and contracts officially end rump of June. And ST income covers matchday attendance next season.

So I'd like to think ST money is allocated to cover a %age of costs each month from July/August through to June/July.

Prize money etc won't be paid out until the end of the season, so any well run club should be using that to round out the end of season costs.

Cash flow and revenue are not the same thing
Cash will be used when required
Revenue allocated to relevant months simply as an accounting treatment

Well, yeah - I guess. But it rather feels like robbing next year to pay today. Which seems a losing strategy.

Welcome to commercial cash management
If I had the time and you had the interest I’d explain how the absolute extreme of this is the supermarket sector