City in court again

[the other bob wilson]

Paul

The issue in the case appears to be two transfers where the club made substantial payments to football agents and now claim that they have evidence that said agents did no work on those deals. If true, then the club is either looking to pursue the agents for billing the club for work not done or is asking for evidence of where the money went if the agents say they weren't the recipients of the money.

I believe the amounts involved are £600k in the case of the Stephen Caulker signing and £300k in the case of the Peter Odemwingie signing.Neither player was subsequently sold at a loss, so I am unclear where a claim quoted in the media at £10m comes from.

Exactly Keith, I can't believe that we are looking at £10 million worth of "extra costs", in fact, I wouldn't be surprised if the two payments to agents you mention were part of those reported fees of £8.5 million and £2.5 million respectively.

[Lawnmower]

Paul

The issue in the case appears to be two transfers where the club made substantial payments to football agents and now claim that they have evidence that said agents did no work on those deals. If true, then the club is either looking to pursue the agents for billing the club for work not done or is asking for evidence of where the money went if the agents say they weren't the recipients of the money.

I believe the amounts involved are £600k in the case of the Stephen Caulker signing and £300k in the case of the Peter Odemwingie signing.Neither player was subsequently sold at a loss, so I am unclear where a claim quoted in the media at £10m comes from.

It's just a claim from the media and we all know how they get these things mixed up.

However, I wouldn't be surprised if this was just stage 1. I wouldnt be surprised if the Cornelius transfer didn't come into it at some point in the future, a few others too- and maybe not just during Malkys time.

As I said before, nothing proven as yet.

[Lawnmower]

You mean Tan, not Mackay, was talking about these extra costs? I can remember Tan's response to Mackay's talk about new players in January - I'd say it was the thing that set in motion Mackay's dismissal and I wouldn't be surprised if that was when the investigations started. I still can't these costs amounting to £10 million though and I can't help thinking that Tan, Lim and the City Board are going to be made pretty stupid and naive if Mackay and Moody do get convicted, because it seems ridiculous that two transfers which were reported to have cost the club £11 million, actually cost them £21 million - I'm with Bobby Dandruff on this.

Yes, it was Tan talking about 'unexpected extra costs'.

I can't see it being £10m on this, probably a mistake by the press unless others transfers are also under scrutiny.

[Lawnmower]

What I find utterly amazing in this and the recent Palace / Pulis fiasco is that clubs are seemingly able to spend millions of pounds with so few checks and balances in place.

In every company that I have ever worked for, and with, big right through to small, spending money is tightly controlled regardless of the amount (er, isn't that what the FD is ultimately responsible for?), and in fact, the larger the sum (millions here!) the greater the level of scrutiny.

How can any organisation i.e. a football club in this case, authorise a payment of millions of pounds WITHOUT multiple sign offs, and therefore more than one 'officer of the company' approving the transaction? Pulis asked for £2m (2 weeks early!) and got the money the next day! I wouldn't trust Malky and the other bloke, and very few people in fact, to be spending millions of pounds on anything, without some strict governance in place.

I wonder if a successful business man like Tan runs all of his multi-million dollar empire like this?

It's been mentioned elsewhere that the allegation was paperwork was altered.
If so, that is very serious.

[Cleve van Leef]

Yes, it was Tan talking about 'unexpected extra costs'.

I can't see it being £10m on this, probably a mistake by the press unless others transfers are also under scrutiny.

The £10 million is the combined transfer fees for the 2 players, the amount in dispute is £600k from Caulker deal and £300k from Odemwingie deal. Money being syphoned off to Agents getting money not being entitled.

[Vimana.]

Rest assured, nothing awfully untoward can have occurred - not with the hugely experienced CEO Simon Lim keeping a sage eye on all such matters.