Generic clubs in financial crisis Thread

[Ian Royal]

Do Portsmouth still get Parachute payments? I thought they had effectivley reformed as a new company?

I'd presume they do, if they were that different to the club that got relegated they'd have to start again at the bottom rather than retain its league placing.

[Svlad Cjelli]

Do Portsmouth still get Parachute payments? I thought they had effectivley reformed as a new company?

I'd presume they do, if they were that different to the club that got relegated they'd have to start again at the bottom rather than retain its league placing.

Surprisingly, it doesn't work like that. An FA Committee (forget its name for the mo!) has to decide on whether the club is a continuation of the previous club or a completely new one, and they also decide which is the most appropriate league/step for the club to start in.

IIRC, an "AFC Pompey" or whatever they'd have been called would have most likley have started in Conference South.

[Royal Rother]

One rule....

It seems that if W&E enter into a CVA we will get a 10 point deduction AND get relegated, no matter we finish. If we enter CVA and finish in the bottom 3 of the Southern Premier league we will be relegated 2 divisions.

Where did that rule come from I wonder?

http://www.maidenhead-advertiser.co.uk/ ... tion-blow/

[Stranded]

I guess it's probably a Southern League rule.

[Royal Rother]

I'm told it's new but brings the Southern League in line with the Conference... This would be the first time it has been applied.

[Alan Partridge]

I'm told it's new but brings the Southern League in line with the Conference... This would be the first time it has been applied.

That must be new because Conference clubs have taken the piss with regards to finances for years.

[Svlad Cjelli]

I'm told it's new but brings the Southern League in line with the Conference... This would be the first time it has been applied.

That must be new because Conference clubs have taken the piss with regards to finances for years.

And because of that, the Conference is now leading the way in tightening up financial governance.

[Wax Jacket]

although it creates a hugely unlevel playing field, why shouldn't Pompey get punished the way Salisbury have been. still at lesat someone's taking it seriously

[Svlad Cjelli]

It can only flow upwards ... demonstrate it working where it's relatively easy to impose is a first step.

Although now only a week to get your submissions in to the HoC Select Committe on Football Governance. I honestly can't emphasise just how important this is going to be.

[handbags_harris]

I suppose the best step would be to introduce flat rules and regulations, governed and administered at all levels by an FA with teeth and balls, or indeed an independent body, regarding finances. So many different levels of football, so many different implementations of the rules in different leagues, surely the best way is to have every club overseen by the same "justice" system rather than their respective leagues. The leagues have been shown to have ulterior motives when it comes to dishing out punishments and the like - just see the PL and Portsmouth who drew absolutely everything out to just before the point of breaking so they could be relegated, and in so doing have the PL wipe their hands of the problem.

[Rev Algenon Stickleback H]

Ipswich town, fresh from adding Jimmy Bullard's bloated salary to their mammoth wage bill, are lining up a £2 million bid for Charlie Austin.

Lost £14 million last year, £12.5 million the year before, and are £38 million in debt. Staff costs also exceed 108% of turnover.

[Jackson Corner]

Ipswich town, fresh from adding Jimmy Bullard's bloated salary to their mammoth wage bill, are lining up a £2 million bid for Charlie Austin.

Lost £14 million last year, £12.5 million the year before, and are £38 million in debt. Staff costs also exceed 108% of turnover.

Not including what they must have paid to Keane in compo and I doubt Jewel came cheap.

[Barry the bird boggler]

Ipswich town, fresh from adding Jimmy Bullard's bloated salary to their mammoth wage bill, are lining up a £2 million bid for Charlie Austin.

Lost £14 million last year, £12.5 million the year before, and are £38 million in debt. Staff costs also exceed 108% of turnover.

Not including what they must have paid to Keane in compo and I doubt Jewel came cheap.

Don't Ipswich have serious money behind them somewhere though?

[soggy biscuit]

Heard this morning that Bullard is on £48,000 a week and Hull will continue paying 60% of this while he is on loan.

LOL

[Mr Angry]

Heard this morning that Bullard is on £48,000 a week and Hull will continue paying 60% of this while he is on loan.

LOL

£48k a week to sit on the bench last week; nice "work" if you can get it!!

[Red]

It's a funny thing quoting wages weekly rather than annual salary.

Seems to be you either do it if you earn less than £13k a year or more than about £1.3M

[Svlad Cjelli]

I do hope that the Select Committee on Football Governance are watching this - the deadline for submissions was last week, BTW.

FTR, Torres's basic salary for his five and a half season contract at Chelsea will amount to £7.8 million a season, half to be paid in Euros. That will cost Chelsea £8.658 million a season with employment costs (employer's NICs, etc), or £47.62 million over the length of the contract. Plus, of course, agent's fees, which are paid by Chelsea. So in all Chelsea are paying well over £100M for Torres.

Chelsea has just posted a £70.9 million loss. But CEO Ron Gorley says "we were cash-flow positive in the last financial year".... So that makes it alright!

[Barry the bird boggler]

Is that another one for the crap football phraseology thread - "cash flow positive"?

Seriously organisaistions need to take action on the bloody stupidity of it all and enforce those regulations rigidly.

[Mr Angry]

[quote="Svlad Cjelli"]I do hope that the Select Committee on Football Governance are watching this - the deadline for submissions was last week, BTW.

FTR, Torres's basic salary for his five and a half season contract at Chelsea will amount to £7.8 million a season, half to be paid in Euros. That will cost Chelsea £8.658 million a season with employment costs (employer's NICs, etc), or £47.62 million over the length of the contract. Plus, of course, agent's fees, which are paid by Chelsea. So in all Chelsea are paying well over £100M for Torres.

quote]

Did you remember to add VAT on the transfer fee as well??

Nice £10M into the Chancellor's coffers from yesterdays deal........

[wolsey]

Did you remember to add VAT on the transfer fee as well??

Nice £10M into the Chancellor's coffers from yesterdays deal........

Is VAT on Transfer fees non deductible? If not surely Liverpool's Output Tax is Chelsea's Input Tax which means that the benefit to the Revenue equals £0