A 'loophole' not exploited to clear Leicester's charges - De Marco
- Published
Nick de Marco is one of the most important figures in the current legal soap opera of English football. If you have a problem, you want 'The Godfather' of football finance law on your side.
His work in the complex area of profit and sustainability rules (PSR) - also referred to as Financial Fair Play (FFP) - has led to him being given that name by his own chambers, Blackstone.
After Leicester's immediate promotion back from the Championship, they went into the current campaign under threat of a hefty points deduction as they had been charged by the Premier League in March with exceeding the permitted £105m three-year loss limit.
It was De Marco who led Leicester's defence when they were charged by the Premier League. The case was thrown out in September, with the Premier League saying the independent panel's interpretation "failed to take into account the purpose of the rules".
Many observers felt the 57-year-old had exploited a loophole. It is a theory he rejects.
"That wasn't a loophole," he said. "It is a very simple point. The Premier League should never have brought the case in the first place."
Which brings us to the revised rules around Associated Party Transactions, agreed by a vote at the Premier League meeting on 22 November despite strong opposition from Manchester City and Aston Villa.
Speaking before the vote took place, De Marco said he had some sympathy with City's assertion that rushing through legislation was a mistake.
"People shouldn't rush to change rules," he said. "I have seen this in the Football League and Premier League a lot.
"Two or three years down the line, you get the Premier League furious Leicester have won their case, saying it was because of a loophole in the rules. But they were the rules the Premier League wrote."