Generic clubs in financial crisis Thread

[Mr Angry]

Sheffield Wednesday get the usual 28 day deferment on their winding up order.

[Barry the bird boggler]

Sheffield Wednesday get the usual 28 day deferment on their winding up order.

That's probably because they have to face a different winding up order in December anyway....

[Wimb]

Sheffield United lost £18 million last year (09/10) might be going the same way as their neighbours.

McCabe blames the loss of parachute payments and the high number of loan signings/big wage earners.

Considering the total turnover for the club was £20million it's a bit of a worrying sign for Championship clubs, no wonder they were all so keen on 4 year parachute payments

[6ft Kerplunk]

McCabe blames the loss of parachute payments and the high number of loan signings/big wage earners.

If only the people running the club had known in advance when the parachute payments would end and how much they paid their staff.

Still makes a change from them blaming West Ham for everything.

[Wimb]

Aye,

Mr McCabe said: “Since relegation no-one could say we have not given it one hell of a go on the pitch. I have personally invested substantial funds during the last three seasons and last season alone we put £2.5m into acquiring a large number of loan players, a figure we had not budgeted for. It showed the efforts we made last season – the first without parachute payments – to reach the play-offs again.

[Big Foot]

Sheffield United lost £18 million last year (09/10) might be going the same way as their neighbours.

McCabe blames the loss of parachute payments and the high number of loan signings/big wage earners.

Considering the total turnover for the club was £20million it's a bit of a worrying sign for Championship clubs, no wonder they were all so keen on 4 year parachute payments

Imagine how much worse off they would be if they didn't sue West Ham for £50M

[Wimb]

They've said it would have been £12 million loss last year without the Tevez payments.

This division really is fooked I fear

[Once were Biscuitmen]

They've said it would have been £12 million loss last year without the Tevez payments.

This division really is fooked I fear

Good they can all go broke one at a time until we are top of the league. Then we can have a big party and ritually burn all the, "Madejski out" cretins from the team board in a big fire made up of of receivers reports. Or maybe just the party and some smugness.

[6ft Kerplunk]

Yeah, our smugness may slip a bit if Madejski's heart gives out when he's watching Eastenders with Cilla before all the other clubs go bust.

[pea]

Sheffield United lost £18 million last year (09/10) might be going the same way as their neighbours.

McCabe blames the loss of parachute payments and the high number of loan signings/big wage earners.

Considering the total turnover for the club was £20million it's a bit of a worrying sign for Championship clubs, no wonder they were all so keen on 4 year parachute payments

I've just sat with my mouth agape in bewilderment at this news. How on earth have they managed to spend twice what they bring in. Where has it gone, they've been awful.

Although to be fair they do buy a new team each transfer window for some reason. The amount of agents fees they pay must be phenomenal.

[Rev Algenon Stickleback H]

Sheffield United lost £18 million last year (09/10) might be going the same way as their neighbours.

McCabe blames the loss of parachute payments and the high number of loan signings/big wage earners.

Considering the total turnover for the club was £20million it's a bit of a worrying sign for Championship clubs, no wonder they were all so keen on 4 year parachute payments

I've just sat with my mouth agape in bewilderment at this news. How on earth have they managed to spend twice what they bring in. Where has it gone, they've been awful.

Although to be fair they do buy a new team each transfer window for some reason. The amount of agents fees they pay must be phenomenal.

the scary thing I there was a report on the BBC website a day or two ago talking about the league's finances, and clubs adopting a volutary wage cap at league 1&2 level, but it seems that chairmen in the championship are totally against it.

[Svlad Cjelli]

Sheffield United lost £18 million last year (09/10) might be going the same way as their neighbours.

McCabe blames the loss of parachute payments and the high number of loan signings/big wage earners.

Considering the total turnover for the club was £20million it's a bit of a worrying sign for Championship clubs, no wonder they were all so keen on 4 year parachute payments

I've just sat with my mouth agape in bewilderment at this news. How on earth have they managed to spend twice what they bring in. Where has it gone, they've been awful.

Although to be fair they do buy a new team each transfer window for some reason. The amount of agents fees they pay must be phenomenal.

the scary thing I there was a report on the BBC website a day or two ago talking about the league's finances, and clubs adopting a volutary wage cap at league 1&2 level, but it seems that chairmen in the championship are totally against it.

The big problem in the Championship with finances is the range of them. At one end you have the likes of Scunny, survibing on a showstring, and at the other you have the likes of Cardiff and the relegated clubs with PL budgets and 4 years of parachute payments. Trying to find a system of financial controls that is appropriate to clubs at both ends of that spectrum is virtually impossible.

[Barry the bird boggler]

They really need to create Premiership 2 of 20 clubs so that the idiot chasm that's been created can be dissipated somewhat and it's not quote so crippling if you get relegated.

[Ian Royal]

They really need to create Premiership 2 of 20 clubs so that the idiot chasm that's been created can be dissipated somewhat and it's not quote so crippling if you get relegated.

Yeah, I'm sure that'll work really well.

[Rev Algenon Stickleback H]

The big problem in the Championship with finances is the range of them. At one end you have the likes of Scunny, survibing on a showstring, and at the other you have the likes of Cardiff and the relegated clubs with PL budgets and 4 years of parachute payments. Trying to find a system of financial controls that is appropriate to clubs at both ends of that spectrum is virtually impossible.

I'd have to ask why Cardiff feel they have a premier league budget.

The range of budgets isn't really a problem. It doesn't matter whether you get £10 million or £100 million a year in turnover, a 30% loss is still a 30% loss. It would be hard to bring in a flat salary cap, but you could bring in measures to stop clubs deliberately overspending year on year, and stop clubs making that big gamble on going up.

[heathrow royal]

Plymouth the latest club to face a winding up petition

http://news.bbc.co.uk/sport1/hi/football/teams/p/plymouth_argyle/9230347.stm

[prostak]

It's ok - Peter Ridsdale is riding to Argyle's rescue.

[Tony Le Mesmer]

They really need to create Premiership 2 of 20 clubs so that the idiot chasm that's been created can be dissipated somewhat and it's not quote so crippling if you get relegated.

Yeah, I'm sure that'll work really well.

i think his point is rather than having 1 massive drop from the top tier, you stagger the drop from Tier 1 to 3. Not such a bad idea really is it?

Personally i think the footballleague needs ripping up anyway. Its modelled on football in the 1950s, not todays game. 24 Teams per division? rediculous, we just accept it as it been like that for so long.

[Mr Angry]

The problem with a PL 2 is that all of the PL Chairman will insist that it becomes a closed League, with no relegation/promotion. This would be so that they can guarantee their income from TV won't get dissapated throughout the whole of the Football pyramid.

Personally, I think we should have a PL, Championship and League 1 of only 16 teams each, then Leagues 2/3/4/Conference to go Regional (like the Old Div 3 North & South).

[Wax Jacket]

Personally, I think we should have a PL, Championship and League 1 of only 16 teams each, then Leagues 2/3/4/Conference to go Regional (like the Old Div 3 North & South).

I knwo what you mean but clubs would need to find a way of replacing 7 games worth of income