Generic clubs in financial crisis Thread

[Uke]

Notts County descent continues

http://www.bbc.co.uk/sport/0/football/21408241

[soggy biscuit]

[reading_fan]

So based on that it would seem Everton and Swansea have the best £ per point ratio (steepest gradient) with Spurs, WBA and Man Utd all pretty good too.

LOLz at Man City, LOLiveROFLpooLOL and QPROFL

[Wax Jacket]

LOLz at QPROFL

I think this graphic is reassuring for an RFC fan

[Ian Royal]

Surprised Spurs wage bill is that much lower than the other big teams after Harry's tenure.

[John Madejski's Wallet]

Surprised Spurs wage bill is that much lower than the other big teams after Harry's tenure.

As someone with a softspot for Spurs I was horrified at the thought of Redknapp screwing them over aswell ....... but if anyone can manage him and be sensible about money, its the the Jews!

[ZacNaloen]

Yeh, Levy clearly had him on a tight leash wages wise. I never got impression during his time there he ever really got to do any Harry "Magic" in the transfer window.

[Wax Jacket]

Yeh, Levy clearly had him on a tight leash wages wise. I never got impression during his time there he ever really got to do any Harry "Magic" in the transfer window.

a Newcastle fan friend of mine reminded me last night that Arry signed Bassong for something like £9m

[Ralph Jolly]

Southend to face another winding up order

http://www.bbc.co.uk/sport/0/football/21503786

[Barry the bird boggler]

Southend to face another winding up order

http://www.bbc.co.uk/sport/0/football/21503786

Shouldn't there be sanctions applied to clubs who don't pay their bills on time? To face 5 winding up orders in 4 years is pushing it a bit....

[Terminal Boardom]

Southend to face another winding up order

http://www.bbc.co.uk/sport/0/football/21503786

Shouldn't there be sanctions applied to clubs who don't pay their bills on time? To face 5 winding up orders in 4 years is pushing it a bit....

I guess at some time or another, we have all waited for the final demand to come through the post before paying. What then?

[Ian Royal]

No, no we haven't.

[Terminal Boardom]

More fool you then

[Wimb]

200 pages, rather sums up how broken football finances are tbh!

[soggy biscuit]

Coventry are placed under a transfer embargo as from today after failing to file their annual accounts on time

[Barry the bird boggler]

First new rule should be that clubs lose 5 points for every month their accounts are late being filed

[Divvy]

Doesn't warrant its own thread, but one in five ex pros go bust!

According to research conducted by XPro, a charity for ex-professional footballers in the UK and Ireland, three in five players blow their fortunes despite the average wage in the league currently being £30,000-a-week.

Tottenham goalkeeper Brad Friedel, former Blackburn captain Colin Hendry and ex-Aston Villa star Lee Hendrie are among the players who have declared for bankruptcy while Fulham’s John Arne Riise and ex-Manchester United pair Keith Gillespie and Eric Djemba-Djemba have also had major financial issues.
What's more, one in three players who are married end up filing for divorce within 12 months of their retirement.

Explaining the figures, XPro chief executive Geoff Scott, who played for Stoke, Leicester and Birmingham, told the Sun on Sunday: "Our database shows three in five players go bankrupt within five years and it coincides with one in three getting divorced within 12 months.
"Often they are advised by the wrong people and, before they know it, their assets have disappeared.

"Even if they manage careers in the media or on the after-dinner circuit, some aren’t aware they need to put money away for the tax man.
"It might sound incredible to normal fans but it can and does happen."

Mark Sands of bankruptcy specialists RSM Tenon confirmed that a number of their clients were footballers: "While earning huge sums they developed expensive tastes and made risky investments," he told the Sun on Sunday.

"When their playing career came to an end they had no second income and their earnings dropped rapidly.

"And as their earnings dropped their expenditure did not. High outgoings, falling incomes, investments failing and high levels of debt used to buy houses and leverage investments combined to bring them down — and bankruptcy ensued."

[AthleticoSpizz]

No doubt, the lesser academically astute are the prominent "players" here.

Guess that they should go "cap in hand" back to their ex-agents.

I have a little sympathy, but their naivety and a lack of a decent education probably tick all of the boxes

[leon]

I'm sorry, but how can you earn premier league wages and end up bankrupt? Who advises these dick heads? The first thing I would do is a get a decent (cheap) accountant, and then save some (all) fucking money. Wankers. I hate footballers.

[Franchise FC]

I'm sorry, but how can you earn premier league wages and end up bankrupt? Who advises these dick heads? The first thing I would do is a get a decent (cheap) accountant, and then save some (all) fucking money. Wankers. I hate footballers.

Unless you're going to employ an accountant on an exclusive basis it'll proably cost no more than a couple of days wages, even for an expensive one.

There's no excuse for any of these guys to piss all their money up the wall.