Generic clubs in financial crisis Thread

[Winston Biscuit]

Chelsea publish their latest accounts. They lost £121m

[Franchise FC]

Chelsea publish their latest accounts. They lost £121m

And are blaming it on the sanctions placed on Abramovic

Be interesting to see how that works.
I get the ‘restrictions on ticket sales’ but revenue was up

[Sutekh]

And they’ve done it again!

https://www.bbc.co.uk/sport/football/65510041

[AthleticoSpizz]

Surely have to start next season on a sizeable points deduction.

[Dirk Gently]

At last Bury FC Supporters Society and Bury AFC’s Shaker’s Community Society have voted to merge, so their phoenix team Bury FC will be back playing at Gigg Lane.

[Sutekh]

At last Bury FC Supporters Society and Bury AFC’s Shaker’s Community Society have voted to merge, so their phoenix team Bury FC will be back playing at Gigg Lane.

[From Despair To Where?]

Common sense would have prevailed if they'd voted for it at the first time of asking. All down to a handful of Bury members who thought AFC Bury were traitors for forming a phoenix club.

Basic jist of it.

Bury own the ground but have no team
AFC Bury have a functioning team but no ground

Both clubs needed 67% of members to vote in favour of a merger. First time round, AFC got 96% Bury got 65%. AFC have double the members.

[PATRIQT]

So pleased for Bury.

A winding up order has been issued against Southend, reports SSN. The fans are concerned they won’t make it to next season.

[Sutekh]

So pleased for Bury.

A winding up order has been issued against Southend, reports SSN. The fans are concerned they won’t make it to next season.

Their second winding up order of the year, managed to get the cash together for the last one in March. No doubt this'll drag on for months with the final hearing being postponed several times.

[Sutekh]

Surely have to start next season on a sizeable points deduction.

You would think so, already lost 3 points for the 4th occasion so this would seem to be just taking the ****

[Snowflake Royal]

Surely have to start next season on a sizeable points deduction.

You would think so, already lost 3 points for the 4th occasion so this would seem to be just taking the ****

Plus the 4th triggered a new investigation to start that already likely would have led to more.

-9 would be my guess. Bar a change of owners, I don’t see Wigan challenging promotion next season.

[Franchise FC]

Surely have to start next season on a sizeable points deduction.

You would think so, already lost 3 points for the 4th occasion so this would seem to be just taking the ****

Plus the 4th triggered a new investigation to start that already likely would have led to more.

-9 would be my guess. Bar a change of owners, I don’t see Wigan challenging promotion next season.

Only three more to find for survival, then

[PATRIQT]

https://www.telegraph.co.uk/football/20 ... -corberan/

WBA facing financial peril, according to the Telegraph. Mentions of an anonymous owner they never see and hear from. Sounds familiar.

[PATRIQT]

"Birmingham given suspended 2 point deduction after breaching EFL rules." - Daily Mail Sport

[AthleticoSpizz]

Yeah, saw that….’dodgy takeover’ wasn’t it?

2 points ‘suspended’……a pointless gesture by the EFL……it's not as if Berminam don’t have any ‘previous’

[Sutekh]

Yeah, saw that….’dodgy takeover’ wasn’t it?

2 points ‘suspended’……a pointless gesture by the EFL……it's not as if Berminam don’t have any ‘previous’

So is this like Birmingham saying “up yours, we’ll have who we like running the club” to the FL over their fit and proper persons test? If that’s the case then that punishment really is one big joke and makes a farce of the whole system.

[Dirk Gently]

https://www.ytfc.net/statement-sale-of-yeovil-town-football-club/

Scott Priestnall has issued an update on the sale of Yeovil Town Football Club:
I confirm that I have completed the sale of Yeovil Town Football Club to the Hellier Group.
It has been a difficult journey and I appreciate it has been hardest on you, the fans, most of all.
We have not been able to share updates where we have wanted to, as you will appreciate negotiations take place under strict rules and disclosure arrangements. Given previous transactions have fallen through, I was particularly concerned about giving updates that may not materialise.
I am confident that this transaction is one in the best interests of the club.
Yeovil Town Football Club is a club that is, and always will be, very close to my heart. I wish the manager, the players, Martin and the fans all the best for the future.

Most observers think this is a good thing and will give Yeovil a respite from the uncertainty of late.

[Sutekh]

Southend having problems paying players again. Players now on strike until they get their wages.

[Stranded]

Probably fits here but Tottenham owner Joe Lewis has been charged with a number of counts of insider trading in the US and could face up to 25 years in prison if found guilty.

[Stranded]

Judge adjorns winding up order against Southend to 4th October. If club has not been sold by then or the debt to HMRC settled then the judge warns they will be wound up.

Southend likely to get a 10pt deduction from the National League now as the debt to HMRC has not been paid in full. Southend owner claimed 80k had been paid today, HMRC dispute that.