Generic clubs in financial crisis Thread

[Ian Royal]

Can anyone explain why Coventry were deducted 10 points as soon as they went into administration (despite the fact that they claim they are not in administration) but Portsmouth have yet to see the points disappear down the drain ?

Because Pompey haven't entered adminstration, it's that they haven't come out of it. And they won't get it if they're already relegated anyway. I should say won't get it this season.

[soggy biscuit]

“At this moment in time the situation is now critical, we are quickly running out of money by trying short term fixes that are not working long term,” the statement read.

“The club desperately needs £1million of external investment to secure the long-term future of the club.

“Without this investment the club will cease to trade and there will be no more professional football played at Gigg Lane.”

Chairman Brian Fenton revealed that the club are looking for 10 investors to each put in £100,000 to save the club.

[handbags_harris]

Pompey fans win their case then. To be fair, loathe them as much as I do, if a club is to be saved then by far and away the best way is for a supporter's consortium to take control. Fair play to those fans who have stumped up the cash.

Still think they should have been left to die by the PL/FL though.

[soggy biscuit]

John Salako declares bankrupcy.

[Cobi]

John Salako declares bankrupcy.

I always had him down as one of the sensible ones, and on the Sky Sports payroll too. It baffles me how a footballer can get into such a mess.

[Royal With Cheese]

Hoes and drugs.

[Royal With Cheese]

He was head of a failed garden implement company.

[SPARTA]

He was head of a failed garden implement company.

Doesn't the company become insolvent then, and not him? It's ridiculous how many people run a business into the ground and then set-up a new one and just carry on.

Anyway, there's still no good reason for a football who spends most of his career playing top flight football going bankrupt.

[Mr Optimist]

He was head of a failed garden implement company.

Is this where I am supposed to say that he was sure he was going to be raking it in?

[Alexander Litvinenko]

He was head of a failed garden implement company.

Is this where I am supposed to say that he was sure he was going to be raking it in?

No - he blew all his money chasing hoes.

[Wimb]

As noted in the Shots thread

http://www.bbc.co.uk/sport/0/football/22368957

[Vision]

And here's the latest
Aldershot in Administration
http://www.bbc.co.uk/sport/0/football/22383276

[Alexander Litvinenko]

Just FTR, Aldershot's is the 159th insolvency event in English football since 1992.

[SPARTA]

And here's the latest
Aldershot in Administration
http://www.bbc.co.uk/sport/0/football/22383276

Points deduction outside of the FL's hands then I assume, and very bad news for next season's campaign already.

[soggy biscuit]

Aldershot Mk III on the cards?

[Cobi]

Coventry locked out of the Ricoh according to the Cov Telegraph.

[Barry the bird boggler]

Coventry locked out of the Ricoh according to the Cov Telegraph.

Again? Doesn't that get reported as happening every other week?

[Jackson Corner]

Coventry locked out of the Ricoh according to the Cov Telegraph.

Where the hell are they going to play? For the life of me I can never understand why they left Highfield rd. Surely it was better to stay there rather than pay 100k a month just to play in your own home ground?

[SPARTA]

Coventry locked out of the Ricoh according to the Cov Telegraph.

Again? Doesn't that get reported as happening every other week?

Ricoh have repeatedly said they wanted Coventry to remain at the stadium. Coventry though were claiming to be looking for a new temporary home. I assume the relationship has broken down since the football club entered administration.

[Cobi]

Cortese has had a bust up behind the scenes at Saints and is considering quitting the club. Welcome to the thread, Southampton.