If the PRL are to be taken seriously...

Why don't they force sides to publish fully independently audited books to ensure that they don't violate the internal rules (like wage caps)?

It would only take a majority vote and it would appease doubters of various suspicious interested parties.

i'm sure they do already. all companies have to file audited annual reports with companies house.

and no matter how good the auditor what it wouldnt catch is payments that are off the club's books.

Payments from outside the club (sponsers/sugar daddies or their companies) would not show up.

Can they ask for the players' records?

quinsforever wrote:i'm sure they do already. all companies have to file audited annual reports with companies house.

and no matter how good the auditor what it wouldnt catch is payments that are off the club's books.

Are Private limited companies required to file audited annual reports?
And what about clubs held under an umbrella holding public company?

Also the Tigers are registered in the Channel Islands (although they do publish pretty full reports for shareholders).

Portnoy's Complaint wrote:

quinsforever wrote:i'm sure they do already. all companies have to file audited annual reports with companies house.

and no matter how good the auditor what it wouldnt catch is payments that are off the club's books.

Are Private limited companies required to file audited annual reports?
And what about clubs held under an umbrella holding public company?

Also the Tigers are registered in the Channel Islands (although they do publish pretty full reports for shareholders).

dunno. think it depends on what they do, how complex they are, shareholder structure, etc.

Weren't you the one bigging yourself up as a finance expert when you joined this site Quins?

All limited companies registered in the UK have to file accounts at companies house, whether they are audited or not depends entirely on size though I'd be surprised if any club didn't meet those thresholds. Even then those audits would never be focussed on checking the salary cap.

The PRL has an independent arm that enforces the salary cap and carries out forensic audits. The issue being that this year was the first year they disclosed anything and even then they told us sweet sod all other than a couple of fines for minor breaches had occurred. I do like the NFL method where all deals are in the public domain.

quinsforever wrote:

Portnoy's Complaint wrote:

quinsforever wrote:i'm sure they do already. all companies have to file audited annual reports with companies house.

and no matter how good the auditor what it wouldnt catch is payments that are off the club's books.

Are Private limited companies required to file audited annual reports?
And what about clubs held under an umbrella holding public company?

Also the Tigers are registered in the Channel Islands (although they do publish pretty full reports for shareholders).

dunno. think it depends on what they do, how complex they are, shareholder structure, etc.

Tigers are registered in England.

Leicester Football Club PLC (Peter Wheeler is director)
Turnover:  17,333,000 (30 June 2012)
Operating Profit: -1,542,000    (Loss last year).
Net worth: 20.5M
Tax: 231,000

A lot of information available on www.duedil.com

Profit for this year of 390k announced at AGM last week.

I would have thought most results won't be published until after the new year.

Just depends what they define as profit I suppose.

I'd really like it if they adopted the US approach on salary disclosures. Each club submits their salary cap figures to the NFL/MLB and those figures are available for all to see.

And none of this crap about x amount is for playing and then y is for image/merchandising rights.  It's all generated off the basis that these people are professional athletes and should count towards the cap.  And if the cap needs to be adjusted for the real world then fine.