Generic clubs in financial crisis Thread

[Svlad Cjelli]

Fulham, that "well run club" that everyone seems to like, announced losses of £17 million today, taking their total debt to a trifling £224 million.

Somewhere in the ballpark of SJM's total net worth. Why doesn't the tightwad bastrud liquidate all his non-RFC assets and show some ambition by following Fulham's model.

That's horrific, it must be at least twice what they're worth, probably three times as much.

But that's the way it happens - the fainancial gap after relegation is so horrendous to contemplate that clubs will run up massive debts to avoid it. They know that limping along with massive debt is better for them than the day of financial reckoning that relagation would bring.

[Svlad Cjelli]

David Conn's take on today's DCMS oral evidence session at Burnley. Looks like they are thinking of moving towards a German-style club licensing system.

http://www.guardian.co.uk/football/2011/mar/15/parliamentary-inquiry-licences-fans

[Svlad Cjelli]

.....
This certainly makes you wonder why these sort of penalties are so lacking in English football?
.....

The simple answer to this is that for the last 25 years or so the people running football have been much more interested in the contents of their own wallets than in the long-term good of the game.

Hence the need for governance to be imposed on them.

[Svlad Cjelli]

God, this obsession is so boring. Tbh can't even be bothered to dignify it with a substantial reply......

[TheMaraudingDog]

Must, FSF etc are all idiots. Mugs who 20 years ago wouldn't have got any where near hardcore supporters who now actually want a say in running things, ironically the subjects that they claim to stand against are the only reason why they have a voice at all.

Take MUST for example. The whole anti Glazer uprising was nothing at all to do with them, the real lead figures hate them but MUST still actually think they're doing a good job. Sending pointless emails and jumping on the red issue green and gold bang wagon is not a good job.

Same with the FSF. Meetings held, nothing achieved but they all pat each other on the back and go home happy.

If you wanna give football back to the fans walk around the pubs of Salford on matchdays. Only you'll get kicked out after 2 mins as your characters aren't strong enough.

[TFF]

LOL

Truly pathetic

[Svlad Cjelli]

As I say, not worth the trouble of spending any time on....

[Svlad Cjelli]

It would be irresponsible of me to enter into conversations about a third-party individual on the public internet.

And in any case, I don’t expect this to stay on here long – Graham would be an idiot to allow an unsubstantiated libel calling into question an individual’s professional integrity to be hosted on his message-board for long.

So bait well and truly not taken.

[TheMaraudingDog]

I hold no fear of libel cases, a United lad emailed her in confidence when she poked her nose into our hoolie forum then Chizum our FIO threatened him for making a complaint against the police!

[Ian Royal]

Darn it, for the first time ever I'm ITK about something and it turns out I'm too professional to spill the beans... but I really really want to. I'm sure plenty of you would LOL heartily if I did.

I am now involved in the murky world of football finance. Horah!

[southbank1871]

Ian - either spill the beans or don't mention it.

[Bandini]

Cocktease.

This is worse than Dirk's bullshit about West Ham/Leyton Orient.

[Svlad Cjelli]

Cocktease.

This is worse than Dirk's bullshit about West Ham/Leyton Orient.

Is that not in the open yet?

In November, Barry Hearn sent the PL a letter saying that he recognised that it was inevitable a PL club would move to the Olympic Stadium - and could it please be Spurs not West Ham?

So when the PL met to consider the move they had to approve it, because a representative of the only club affected had affirmed in writing that there were no objections - if BH was happy with one PL club moving it had to be assumed that he was happy with the whole principle.

So all his protests now it's West Ham are sabre-rattling - he voluntarily gave away all his bargaining chips 3 months ago.

[Bandini]

Oh.

Not as interesting as I had hoped.

Noted that Hearn is a bit of an idiot though.

[Royal With Cheese]

Oh.

Not as interesting as I had hoped.

Noted that Hearn is a bit of an idiot though.

Snooker Loopy some might say.

[Royal Rother]

Nuts are we wonderwall.

[papereyes]

Cocktease.

This is worse than Dirk's bullshit about West Ham/Leyton Orient.

Is that not in the open yet?

In November, Barry Hearn sent the PL a letter saying that he recognised that it was inevitable a PL club would move to the Olympic Stadium - and could it please be Spurs not West Ham?

So when the PL met to consider the move they had to approve it, because a representative of the only club affected had affirmed in writing that there were no objections - if BH was happy with one PL club moving it had to be assumed that he was happy with the whole principle.

So all his protests now it's West Ham are sabre-rattling - he voluntarily gave away all his bargaining chips 3 months ago.

Recognising that it was inevitable =/= being happy with a club moving

or am I missing a point here?

[TFF]

Darn it, for the first time ever I'm ITK about something and it turns out I'm too professional to spill the beans... but I really really want to. I'm sure plenty of you would LOL heartily if I did.

I am now involved in the murky world of football finance. Horah!

This is what PMs were made for Ian

[roadrunner]

Darn it, for the first time ever I'm ITK about something and it turns out I'm too professional to spill the beans... but I really really want to. I'm sure plenty of you would LOL heartily if I did.

I am now involved in the murky world of football finance. Horah!

Well don't name the club, only the league, roughly where they are in it and let us have the gossip you little prick tease.

[Mr Angry]

In Norway, there's a licensing system.
If a club loses it's license, for example if it goes bankrupt or into the equivalent of what in England is called "administration", it will be relegated at least two divisions. If it is completely bankrupt and restarts it goes into the 7th tier, which here is called regional 6th division, the club then has to apply for that, so they might have to start even lower.
There's also a provision to relegate clubs based on financial irregularities. So we've covered these eventualities.
This certainly makes you wonder why these sort of penalties are so lacking in English football?

There have been several examples of this. FC Lyn Oslo went bust and are now in 6th division, this was a top division club.
Then last years cup finalists Follo did not even bother to apply for a license last year due to the state of their finances, and were dumped to the 2nd division.
For them this also meant that they missed out on their spot in European competition.

Weren't FC Lyn Oslo where John Obi Mikel came from? If it is them, they made a fortune out of that transfer iirc!