Well here's how

?5 million of profit from last season was moved into the previous years accounts for taxation purposes. So - we could make, on paper, a loss for last season - whereas in reality there was a healthy profit. So if they're claimimg that a paper loss for last season ties our hands financially, that's just sophistry.

Posted By: Winged Eel Creosote on July 19th 2005 at 17:21:22

Message Thread

Interesting thread from the official site ... (NCFC) - meeky, Jul 19, 17:02:51
- So what does this mean? (NCFC) - Winged Eel Creosote, Jul 19, 17:08:00
  - I think he means operating on a reduced income. (NCFC) - BeverlyHills0201, Jul 19, 17:16:00
    - Yeah he used to work for the Evening News (NCFC) - Winged Eel Creosote, Jul 19, 17:22:09
  - I think it means we will make a loss on last season I guess.... (n/m) (NCFC) - pieman63, Jul 19, 17:15:17
  - How can we have made a loss last season ?! (n/m) (NCFC) - Steve in Holland, Jul 19, 17:08:35
    - Well here's how (NCFC) - Winged Eel Creosote, Jul 19, 17:21:22
- Lol, yep, now SWP has gone for ?21m that'll start Worthy spending!! (n/m) (NCFC) - cean doney, Jul 19, 17:06:36
  - well it will if some that - directly or indirectly - (NCFC) - Tricky Hawes, Jul 19, 17:09:34
    - Half of it goes on Man City's debt, then ?6m will probably go to Turkey for Anelka. (NCFC) - cean doney, Jul 19, 17:11:52
      - But to look at it another way - (NCFC) - Tricky Hawes, Jul 19, 17:15:08

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