Leicester City under investigation over finances from promotion.

-


Despite being just three wins away from winning the Premier League, Leicester City are still under investigation from winning the Championship back in 2014.
In 2013-14 the Foxes won the Championship, but the Football League has asked for more information in terms of finances and is still investigating the club from their promotion season, according to NBC Sports.
If Leicester are found guilty of breaking the Football League’s financial fair play rules (FFP), it would not have an affect on their last two Premier League seasons but could if they were relegated back to the Football League. It may also involve paying a hefty fine to the Football League authorities too.
The investigation is about a deal Leicester say they did in January 2014, with a company called Trestellar Ltd. The deal was apparently made in order to market the club in the UK and south-east Asia. However, it immediately produced an apparent £11m increase in Leicester’s sponsorship and commercial income, reducing the club’s loss from £34m in the previous year. In Leicester’s most recent accounts, for the 2014-15 season, they say that Trestellar sold the club’s main sponsorships – the players’ shirts and the stadium rights – to King Power, the club’s owners.
However, the Thai owners were already sponsoring the shirt and stadium before the Trestellar deal, and in 2012-13 Leicester’s sponsorship and other commercial income was £5.2m. After the Trestellar deal, with King Power still holding the same sponsorships, the income quickly grew to £16m.
This deal is a strange one to comprehend but it has been questioned by other clubs in the Championship, who are said to be furious that Leicester may have found a loop-hole in order to meet financial fair play rules and also spend more money on player wages, without being sanctioned.
The rule apparently states that if a company the clubs owner also owns, sponsors the club, they cannot spend much more on a sponsorship deal compared to the next offer.
(BN Sports)

Comments

Post a Comment

Popular posts from this blog

Time to return GITMO 2 – Bentil

-
Image
Private legal practitioner and Vice-President of IMANI Ghana, Kofi Bentil, has asked government to update Ghanaians on the stay of the two ex-inmates of Guantanamo Bay prison in Ghana because their stay in the country has elapsed. In August last year, parliament ratified an agreement to allow Mahmud Umar Muhammad Bin Atef and Khalid Muhammad Salih Al-Dhuby, to stay in Ghana, following a Supreme Court order. The Court had earlier ruled that their stay in Ghana was unconstitutional without parliamentary backing.             READ ALSO: EC brouhaha: CJ's secret C'ttee worrying--group . http://mognewsportal.blogspot.com/2018/01/ ec-brouhaha-cj-secret-c-worrying-group.html In January 2016, the John Mahama-led government accepted the transfer of the two Yemeni ex-detainees from the US into the country for a period of two years. The decision to host them created a controversy and public outcry among Ghanaians, with many expressing fear that the move would undermine Ghana’s i
Read more

Unemployed nurses petition President Mahama

-
Image
The aggrieved unemployed nurses on Wednesday, April 27, embarked on another demonstration to register their misgivings over delays in their postings. The nurses and midwives at the Kwame Nkrumah circle in Accra The graduate nurses and midwives took to the street because the Health Ministry has failed to get them posted. The nurses and midwives have been home for the past 10 months Clad in their uniforms and red bands, the nurses converged on the Kwame Nkrumah Circle in Accra; where they carried placards with inscriptions like – “A hungry nurse is a potential killer, We are tired of staying home, We need our financial clearance now; no more delays, Evidence based nurses and midwives demonstration”. Inscriptions on a  placard. The nurses have been waiting home for the past 10 months. “We are tired of staying home” – a placard reads They have therefore petitioned the office of the president to help address and facilitate their postings.
Read more

Government committed to making Ghana safe - Ambrose Dery

-
Image
Minister of the Interior, Ambrose Dery, has assured Ghanaians that government is committed to making the country safe for the citizens. His declaration follows the current attacks on national security personnel by criminals with the recent one resulting in the killing of Inspector Emmanuel Ashilevi who was shot at the Kwabenya Police Station when gunmen invaded the station to free seven suspects. This has raised grave concerns among Ghanaians who are skeptical about the security situation in the country. While praising the late Inspector Ashilevi for a good job done by ensuring peace and security during the one-week memorial service held at his residence in Pokuase, Ambrose Dery reiterated that President Akufo-Addo is resolute in securing measures to ensure maximum safety and peace of Ghanaians. "Mr President’s commitment to make Ghana safe and to make Ghanaians safe is unshakable and nothing is going to stand his way to achieve that." Ambrose Dery assured that the crim
Read more