AFC Bournemouth: Financial fair play rules 'unfair ' says Cherries chairman Mostyn (From Bournemouth Echo)
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AFC Bournemouth: Financial fair play rules 'unfair ' says Cherries chairman Jeff Mostyn
CHERRIES chairman Jeff Mostyn believes existing financial fair play rules are unfair and unsuitable for all clubs in the Championship.
Mostyn was speaking after a vote to amend four of the current regulations – of which Cherries were in favour – had been defeated earlier this week.
Cherries were one of a number of clubs hoping to see limits increased in relation to boosting the level of acceptable losses and permitted owner investment.
The rules are designed to ensure clubs break even over a three-year period, although vast parachute payments to teams relegated from the Premier League have been a sticking point.
Championship clubs were permitted to lose a maximum of £8million – or £3m if an owner did not inject equity – during 2013-14 and three of the proposals were to increase the limits to either £10m, £11.4m or £12.8m.
Along with all other Championship clubs, Cherries, who in April revealed losses of more than £15m for the financial year to the end of July 2013, must report figures to the Football League in December.
A Football League spokesperson confirmed there were no plans to release these figures to the media but said possible sanctions for clubs exceeding the limits included a transfer embargo, points deduction and fine.
Mostyn told the Daily Echo: “We believe it is unfair where you have clubs dropping into the Championship from the Premier League with a first-year parachute payment of £23m under the new £5.5billion television deal, while we are having to comply with existing rules made prior to the new deal by a majority of clubs who are no longer in the Sky Bet Championship.
“That is the frustration which is shared by most Championship clubs not in receipt of any parachute payment. The new proposals were only made to try to bridge the gap.
“The clubs are all determined to continue dialogue until a successful formula can be found. Ironically, the status quo does not suit any of the clubs as all voted for various degrees of change.”
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