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James Segan QC (instructed by Solesbury Gay) acted for the English Football League and Nick De Marco QC and Tom Richards (instructed by Geldards) acted for Derby County in an appeal by the EFL relating to a disciplinary charge under the Championship Profit & Sustainability Rules.

The appeal concerned a charge that Derby’s amortisation policy for player registrations in the financial years 2015/16, 2016/17 and 2017/18 had not complied with Financial Reporting Standard 102. The charge had five elements, four of which were ultimately pursued by the EFL. On 24 August 2020, the Disciplinary Commission (Graeme McPherson QC, Robert Englehart QC, James Stanbury) upheld one of the four elements of the charge, finding that Derby’s financial statements for the relevant years had failed adequately to disclose its change in accounting policy; but dismissed the other elements. On 7 May 2021, the League Arbitration Panel (Charles Hollander QC, Rt. Hon. Lord Dyson and David Phillips QC) overturned the decision of the Disciplinary Commission as regards the second element of the charge, finding that the “cost model” employed by Derby did not permit amortisation to take into account possible resale values of players and Derby’s policy was accordingly contrary to FRS 102 for that further reason. The LAP dismissed the EFL’s appeal as regards the other two elements of the charge.

The LAP’s decision is available here

The earlier procedural decisions are available here:
- De Novo Hearing
- Fresh Evidence Application
- League Arbitration Panel - Application by Middlesborough FC

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