Generic clubs in financial crisis Thread

[watfordroyal]

So that's Hearts, Utd & Dons all voting against, Celtic unlikely to upset their support so they'll vote against,
& Hibs have previously been vocal of their negative views to newco huns being admitted.

So to the SFL they go!

[Stuka]

The SPL's loss. They'll lose millions and be an even crappier one team league. Meanwhile Rangers can have their slate wiped clean and sort themselves out for an imminent return.

[ankeny]

Anyone know the latest on the tax dodgers from the south coast,what's their chances of liquidation?

[Barry the bird boggler]

Anyone know the latest on the tax dodgers from the south coast,what's their chances of liquidation?

Somewhere between unlikely and b****r all.

[PieEater]

I think they've got a creditors meeting next week where they will agree a CVA to wipe out 98% of their debt, Chainrai will take over and pocket the parachute money. Hopefully they'll sign a bunch of misfits to keep them going another season before he pockets the last payment then folds the club or finds some other mug to buy it.

There's some faint hope that the trust will put up a competing bid, but to me it seems unlikely unless they shift their high earners.

[Alexander Litvinenko]

I think they've got a creditors meeting next week where they will agree a CVA to wipe out 98% of their debt, Chainrai will take over and pocket the parachute money. Hopefully they'll sign a bunch of misfits to keep them going another season before he pockets the last payment then folds the club or finds some other mug to buy it.

There's some faint hope that the trust will put up a competing bid, but to me it seems unlikely unless they shift their high earners.

Which is another argument against the Football Creditors Rule - FCR allows highly-aid wasters to see out their contracts and stop the club moving on without them.

[PieEater]

Is that you Dirk?

If so welcome back!

[Alexander Litvinenko]

Uou knew I could never stay away from this thread, didn't you?

[Bowman's Quiver]

http://www.telegraph.co.uk/sport/footba ... inues.html

Possibly the best article I've read on the debacle on the south coast.

[Franchise FC]

http://www.telegraph.co.uk/sport/football/teams/portsmouth/9350229/Portsmouth-Portpin-and-crippling-debts-deja-vu-for-the-creditors-as-the-Pompey-circus-continues.html

Possibly the best article I've read on the debacle on the south coast.

Where is the way out ? From this it's simply a matter of time before the final pop.

As for the creditors getting an extra £500k if Popmey get back to the Premier League. just
Let's hope the creditors don't die waiting

[Barry the bird boggler]

As with all such cases it's a total disgrace that the laws and the football authorities can let things like this happen. The whole thing stinks both morally and legally. Clubs should be suspended from all operation following a third successive month of failing to file accounts. The football creditors rule is a complete disgrace and only helps problems like this get worse while shafting non-football relating businesses and the public.

[Mr Angry]

"If the CVA is agreed on Monday and not successfully countered by another offer Portsmouth will have legitimately shed £107.3 million in debts in two years — up to £40.1 million of it to the UK taxman — and, according to Andronikou, without having paid a penny on them."



Its time for the football authorities to grow a pair and end this now; Portsmouth FC are bringing the whole structure of English football into disrepute, and the only way that can end is with the football club being closed down.

[handbags_harris]

http://www.bbc.co.uk/sport/0/football/18564685

The knock-on effect of the newco. Scaremongering by Motherwell or the simple facts?

[Mr Optimist]

I

[Mr Optimist]

Trying to post on my phone...! What other business would yOu leave your own destiny in others hands. Harsh but Motherwell only have themselves to blame.

[Super_horns]

http://www.bbc.co.uk/sport/0/football/18564685

The knock-on effect of the newco. Scaremongering by Motherwell or the simple facts?

One of the small clubs that rely on Rangers fans coming and taking over 2 of their stands probably...

[handbags_harris]

So they'd be in good company with Dundee Utd, Inverness CT, Kilmarnock, Ross County, St Johnstone and St Mirren then, with Hibs, Hearts and Aberdeen not too far ahead...

[Super_horns]

So they'd be in good company with Dundee Utd, Inverness CT, Kilmarnock, Ross County, St Johnstone and St Mirren then, with Hibs, Hearts and Aberdeen not too far ahead...

True but the last 3 at least have the potential got get over 4 figure gates.

[cmonurz]

Surely the increased potential for qualification for European competition, for the likes of Motherwell, Hearts, Hibs etc, must balance that somewhat?

[weybridgewanderer]

scottish clubs don't qualify for europe

they enter at the early qualification rounds for European competition and, outside of rangers and celtic (who have also both struggled in the qualifying rounds recently), perform very badly

scotlands co efficient will drop like a stone without rangers so qualification for any group stage will become more and more difficult

i do not see fans or sponsors being attracted to a league that celtic have won by november