Became The Premier League’S Youngest Manager [EN]: Chapter 25

25: Qualification Review for Owners and Directors

Helena watched the Premier League headquarters’ review committee members, who were trying to sway the review in their favor. She subtly turned her head and nodded to the legal team beside her.

The PIF [Public Investment Fund] consortium’s legal team and lawyers, who had been wearily dealing with the Premier League headquarters for the past two years, watched them getting thoroughly outmaneuvered with expressions of satisfaction. Now, receiving the ball—the well-prepared arguments—from their temporary client, they all smiled, ready to launch their prepared counterattack.

It was both a duty and a pleasure as teammates to capitalize on a good pass.

As Amanda Staveley had assured, her legal team and lawyers were not only highly skilled but also well-versed in the headquarters’ internal regulations, rules, and even customs and history.

“This case is not subject to the qualification review for owners and directors.”

“…Pardon?”

The legal team opened fire, targeting the review committee members who blinked in confusion.

“Burnley Football Holdings Limited, the owner of Burnley Football Club, has not been replaced by another entity. It is still the owner of Burnley Football Club. What has taken place this time is a private matter involving the change of ownership of Burnley Football Holdings Limited.”

The change of ownership of Burnley Football Holdings is not the same as the change of ownership of Burnley Football Club itself.

Thus, the legal team delivered a major blow to the Premier League headquarters’ claim that they should be subject to the qualification review for owners and directors.

“But… Ms. Cartwright just admitted that Cartwright Fund is exercising practical control over Burnley Football Club!”

They knew they would say that.

The lead lawyer of the PIF consortium’s legal team, wearing an anticipatory expression, took out a report from his briefcase and slid it across the table.

The lead lawyer, who seemed to have memorized almost the entire report of dozens of pages, smiled and began to explain.

“However, according to the precedent set by Hodges & Sons Ltd. v. Her Majesty’s Revenue and Customs case in August 1992 by the United Kingdom Supreme Court—specifically the Appellate Committee of the House of Lords at the time—holding the owner of a limited company legally responsible for the limited company fundamentally infringes upon the legal limited liability of the limited company as defined in commercial law. Please see page 3 first.”

The review committee member, with a pale face, opened the corresponding page of the report with trembling hands.

A long and tedious explanation followed, detailing dozens of pages of the report one by one, but in conclusion, the legal team’s point was simple.

In other words, the current owner of Burnley Football Club is a corporation called Burnley Football Holdings.

Therefore, unless the owner of Burnley Football Club changes to another corporation, how the owner of Burnley Football Holdings changes is irrelevant to the club.

Since it is irrelevant to the club, the Premier League headquarters, which is in charge of the club’s management and supervision, has no right to interfere.

Do you still want to argue that it matters despite all this?

Then overturn the Supreme Court’s precedent.

“Uh… Uh, then… Um…”

In a situation spiraling in an entirely unexpected direction, one of the Premier League headquarters’ review committee members took out a handkerchief and began to wipe his forehead, which was starting to sweat.

The Premier League headquarters’ review committee was blocked in their attack on the owner’s qualifications, an attack in which they had been confident.

However, whether there was someone among them with a quick mind, or whether they had prepared an alternative just in case.

This time, they launched an attack, stating that because the club had experienced a financial crisis akin to bankruptcy by failing to pay interest on its bonds, they would proceed with a deduction of points as a penalty for violating the Premier League’s financial soundness regulations.

“Last July, Burnley Football Club failed to pay interest on the bonds acquired by the bondholder, MSD Group. As a result, non-performing loans were issued, and the Cartwright Fund here acquired them. This violates the minimum financial soundness that Premier League clubs must adhere to and is subject to a deduction of 6 points.”

At this point, it was a blatant threat and pressure, having shed even the minimum pretense of a qualification review for owners and directors.

However, they could not overcome Helena and the PIF consortium’s legal team, who had prepared for the past three days and nights.

The PIF consortium’s legal team, having received the ball from the legal team, countered.

“Deduction of points is appropriate when the club violates regulations related to finance. However, for this to apply, one or more of the following must be true: First, violating financial soundness-related clauses such as Financial Fair Play [regulations designed to prevent clubs from spending beyond their means] set by the Premier League headquarters. Second, the club is in a state of bankruptcy or equivalent, failing to fulfill its obligations to its creditors.”

The legal team leader received and unfolded the documents from the side.

“Now, let’s look at the clauses related to financial stability. First of all, the financial soundness of Premier League clubs is assessed at the end of June every year. Now, as of the end of June 2021, Burnley’s finances are… in surplus? It is confirmed that there is a surplus of approximately 500,000 pounds. So, there is no problem with soundness…”

The legal team leader, receiving another thick ledger from the side, smiled and threw the ledger across the table this time.

The ledger, which seemed to be hundreds of pages long, fell in front of the Premier League headquarters’ review committee members with a loud noise.

“As you can see in the ledger, the entity currently in bankruptcy is Burnley Football Holdings Limited, and Burnley Football Club, which is under the jurisdiction of the Premier League headquarters, is paying all debts according to the original contract without adjusting even 1 penny. Therefore, no clauses related to Financial Fair Play have been violated, and it is determined that no actions subject to point deduction have occurred because the club is fulfilling all debts.”

According to Premier League regulations, it is true that a club is subject to point deduction if it goes bankrupt or experiences a financial crisis.

But the one that went bankrupt is not the club but the club’s owner, and the club is paying all the money it owes down to the last penny.

What are you going to do now?

Amidst the gazes of Helena and the legal team and lawyers of the PIF consortium, who were glaring as if telling them to attack again, the Premier League headquarters’ review committee members turned their eyes this way and that, and the chairman of the review committee closed his eyes with a bleak expression.

“…Thank you, Amanda. Thanks to you, it ended well.”

“…Yes, of course. I wish Amanda and the PIF consortium good luck. Let’s meet at the stadium next time.”

As Helena finished the call after leaving the Premier League headquarters, the lead lawyer of the PIF consortium, who had been waiting next to her, approached her.

“It was enjoyable today.”

Helena smiled, firmly shaking the hand that the smiling lawyer extended.

“I enjoyed it too.”

“Thanks to you, I think I can finally wrap up a long-standing matter.”

“Good luck.”

Helena, having seen off the legal team and lawyers of the PIF consortium who were disappearing with a smile, raised her hand and hailed a passing taxi.

Now that the last remaining unnecessary nuisances have been removed, all that remains is to focus on football.

***

Despite the draw-like defeat at Liverpool, Hyungmin decided to maintain the policy of giving the starters a rest in the Carabao Cup [EFL Cup, a domestic cup competition in English football].

Therefore, in the Carabao Cup Round 3 match against Wigan at Turf Moor, Burnley had Ashley Barnes as the central striker, with Gudmundsson and Maxwel Cornet on the left and right, respectively.

In midfield, Jack Cork played as the defensive midfielder, Josh Brownhill as the central midfielder, and loanee Jacob Ramsey made his debut for Burnley.

The defense saw Connor Roberts, who joined Burnley in the summer transfer market and recovered from a long injury, finally complete his rehabilitation and make his debut for Burnley as the right-back.

Promising Nathan Collins and backup Kevin Long played as central defenders, and veteran Erik Pieters played as the left-back.

On the other hand, facing Burnley’s 4-3-3 formation, which was gradually becoming Burnley’s trademark, Wigan focused their strength in the center with a 5-2-1-2 formation.

For Wigan, who were once a Premier League fixture but have now fallen to the third tier, it was natural to be at an absolute disadvantage in terms of power against Burnley, who were recording a shocking 2nd place in the Premier League with 4 wins and 1 draw.

Therefore, their strategy was to strengthen the defense and aim for counterattacks centered on both wing-backs and two forwards.

However, the Burnley players, who had been overwhelmingly suppressed by Liverpool in the previous game, vented their anger as if to retaliate, crushing Wigan, who visited their home, head-on.

[Goal! Another goal!]

In Helena’s office, where she couldn’t go to the stadium due to unexpected business trips to London and piled-up work, the TV was on, broadcasting the Carabao Cup from a local broadcaster.

[This time, it’s Nicolas Seiwald, who replaced Jack Cork, who was injured at the start of the second half! In the 56th minute of the second half, he scores Burnley’s third goal with Johann Berg Gudmundsson’s second assist!]

The commentator’s shout was echoed by the co-commentator.

[Ah, Burnley definitely has a different atmosphere today. They are retaliating for the previous game against Liverpool, and the reserve players are running wild as if protesting to the manager.]

[Today’s MVP is veteran attacker Johann Berg Gudmundsson. He was involved in all three goals Burnley scored today with 1 goal and 2 assists!]

[The veteran of the Icelandic national team, who played as a semi-regular for Burnley until last season, seems to be protesting to the manager, demanding to start in the Premier League game.]

The commentator, watching the data screen, spoke with pleasure.

[If this happens, manager Kim will have happy worries. Jay Rodriguez, who showed peak form until August, Dwight McNeil, Burnley’s pride and ace. In addition, Karim Adeyemi, who has newly joined, is challenging for a starting spot, and Gudmundsson is also throwing his hat into the ring.]

[Maxwel Cornet, who was pushed to the fifth option in an instant, is having a bit of a hard time. From Burnley’s point of view, they invested £12.75 million in signing Maxwel Cornet in the summer transfer market, but it may be a bit disappointing that he was pushed to the fifth option.]

In response to the commentator’s worried words, the co-commentator nodded and began to explain the game situation.

[Anyway, so far, Wigan has 3 shots and 0 shots on target! They are trapped in their own territory without moving at all.]

Meanwhile, in the home team’s technical area, which the broadcast camera was not showing, Hyungmin was preparing for a substitution with Arthur.

“Then I’ll move Johann to the center, so please put Dwight in as the left attacker.”

“Are you sure? Johann can play as a central midfielder, but he’s essentially a winger.”

“It’s okay. The game is already tilted today, and in fact, giving Brownie a rest is more important than winning today.”

If Josh Brownhill could have heard the conversation next to him, he would have protested why he was being called by his nickname instead of his name, but Arthur nodded at the nickname that had already taken root within Burnley.

“Okay. I’ve already told them to warm up, so I’ll have Paulo tell the assistant referee to notify the substitution.”

Nodding, Hyungmin asked as if he had remembered something.

“How’s Jack?”

“Simon says he needs to have a thorough examination. It doesn’t seem like a serious injury.”

However, if the team doctor assessed that further examination was necessary, it was not something to simply overlook.

Hyungmin’s face darkened slightly.

“Hoo… It shouldn’t be a big injury.”

Victory was almost certain, but Hyungmin, with a still paper-thin squad, couldn’t just be happy about a minor injury.