Generic clubs in financial crisis Thread

[Franchise FC]

Maybe SJM was right after all - keeping ourselves solvent may leave amongst the last one's standing.

[Ian Royal]

The thing is more and more clubs that get relegated are betting the farm on going up. Only three can go up a year and there are genuine contenders amongst the rest of the CHampionship too. THat just means unless the same six clubs yo-yo every season, someone is going to lose out sooner or later and implode.

And we know the three relegated clubs simply won't keep going straight back up, no matter how much money they throw at in a desperate bid to survive.

[Friday's Legacy]

The thing is more and more clubs that get relegated are betting the farm on going up. Only three can go up a year and there are genuine contenders amongst the rest of the CHampionship too. THat just means unless the same six clubs yo-yo every season, someone is going to lose out sooner or later and implode.

And we know the three relegated clubs simply won't keep going straight back up, no matter how much money they throw at in a desperate bid to survive.

west ham will be an even bigger case if they fail to go up. all we heard last season was how relegation could be the end of the club. relegation came and went, and west ham continued to throw large sums of money on new players and pay ridiculously high wages. if they really were in as bad a state as david gold made out, then failure to secure promotion this season has got to have a massive impact on the club.

[Ian Royal]

The thing is more and more clubs that get relegated are betting the farm on going up. Only three can go up a year and there are genuine contenders amongst the rest of the CHampionship too. THat just means unless the same six clubs yo-yo every season, someone is going to lose out sooner or later and implode.

And we know the three relegated clubs simply won't keep going straight back up, no matter how much money they throw at in a desperate bid to survive.

west ham will be an even bigger case if they fail to go up. all we heard last season was how relegation could be the end of the club. relegation came and went, and west ham continued to throw large sums of money on new players and pay ridiculously high wages. if they really were in as bad a state as david gold made out, then failure to secure promotion this season has got to have a massive impact on the club.

Well, I think it's unlikely that both them and Brum will go up, so looks like we'll be getting some Pompey style lolz in the summer about one of them.

[Mr Angry]

West Ham will be alright as they will end up in the Olympic Stadium; ok, they will have to pay rent now, rather than (as the owners were expecting) getting it as a freebie, but that will allow them to sell Upto park to a developer to make a few million.

[Terminal Boardom]

West Ham will be alright as they will end up in the Olympic Stadium; ok, they will have to pay rent now, rather than (as the owners were expecting) getting it as a freebie, but that will allow them to sell Upto park to a developer to make a few million.

And in such a desirable part of London as well

[Uke]

West Ham will be alright as they will end up in the Olympic Stadium; ok, they will have to pay rent now, rather than (as the owners were expecting) getting it as a freebie, but that will allow them to sell Upto park to a developer to make a few million.

And in such a desirable part of London as well

Biggest LOls will be if it ends up as a mosque site

The ICF will love that

[Barry the bird boggler]

West Ham will be alright as they will end up in the Olympic Stadium; ok, they will have to pay rent now, rather than (as the owners were expecting) getting it as a freebie, but that will allow them to sell Upto park to a developer to make a few million.

But someone would have to pay to rip out the current seating and transform the design so it can succeed as a football ground, can't see the public purse footing that one....

[Dare to Dr£am]

West Ham will be alright as they will end up in the Olympic Stadium; ok, they will have to pay rent now, rather than (as the owners were expecting) getting it as a freebie, but that will allow them to sell Upto park to a developer to make a few million.

But someone would have to pay to rip out the current seating and transform the design so it can succeed as a football ground, can't see the public purse footing that one....

Haven't the people that own/control the stadium told West Ham that the stadium has to stay as it is reading for the commonwealth games?

[Red]

Don't see the problem, both good causes.

Quite, if you're growing up in Kettering you could probably do with a laugh.

[Barry the bird boggler]

West Ham will be alright as they will end up in the Olympic Stadium; ok, they will have to pay rent now, rather than (as the owners were expecting) getting it as a freebie, but that will allow them to sell Upto park to a developer to make a few million.

But someone would have to pay to rip out the current seating and transform the design so it can succeed as a football ground, can't see the public purse footing that one....

Haven't the people that own/control the stadium told West Ham that the stadium has to stay as it is reading for the commonwealth games?

Now that would be good because, apparently, the seating and sight lines are not appropriate for football.

[Friday's Legacy]

Piacenza Calcio has officially gone bankrupt, ending a 93-year history in Italian football that included long Serie A spells.

Today lawyer Franco Spezia and accountant Filippo Giuffrida have been appointed to lead the club through its bankruptcy proceedings.

The point of no return was reached after owner Fabrizio Garilli opted not to oppose the bankruptcy.

Piacenza will reportedly be able to complete the Lega Pro season, but at that stage the club will cease to exist.

There is to be an auction at the end of the campaign that will allow any new investors to buy the Piacenza brand, but they would have to begin with a new name and from a lower division.

Piacenza were in Serie B last term, but were relegated after losing the play-outs.

The Biancorossi were founded in 1919 and last played in Serie A in 2002-03.

[Wimb]

Christ, didn't realise quite how much tax Pompy/Leeds have got away with

http://www.sportingintelligence.com/201 ... it-250301/

[Barry the bird boggler]

Utterly despicable isn't it? What I'd like to know is how the disgraceful football creditor's rule ever got to be legal in the first place.

[Wimb]

Utterly despicable isn't it? What I'd like to know is how the disgraceful football creditor's rule ever got to be legal in the first place.

Bit of a double edged sword though really. On the one hand you despise the greedy footballers who have been earning 50K a week and yet get preferential treatment over St Johns, local business and the tax man.

On the other hand if the rule gets struck down it could have big implications for lower clubs. For example if Reading were in administation, Eastleigh would be gutted to lose out on the £50k we paid for Brett Williams. Similarly the pro's at clubs in say League 2 rely on their pay packet a lot more than those in the Premier League and so getting money out a dying club can be vital.

Not sure what the solution is really. Maybe appointing an independent panel to judge on a case by case basis who gets what? That or clubs just stop going bust.....

[Mr Angry]

Utterly despicable isn't it? What I'd like to know is how the disgraceful football creditor's rule ever got to be legal in the first place.

Bit of a double edged sword though really. On the one hand you despise the greedy footballers who have been earning 50K a week and yet get preferential treatment over St Johns, local business and the tax man.

On the other hand if the rule gets struck down it could have big implications for lower clubs. For example if Reading were in administation, Eastleigh would be gutted to lose out on the £50k we paid for Brett Williams. Similarly the pro's at clubs in say League 2 rely on their pay packet a lot more than those in the Premier League and so getting money out a dying club can be vital.

Not sure what the solution is really. Maybe appointing an independent panel to judge on a case by case basis who gets what? That or clubs just stop going bust.....

One of the consequences of the rule going would be that transfer fees would immediately become more realistic; transfer fees that aren't paid for immediately will drastically reduce. It will also have the effect of making clubs live within their means, as the rule perpetuates the spend spend spend philosophy that exists in English football. Clearly, this will hit some clubs much harder than others, as some have become totally dependent on this method of financing themselves.

[exileinleeds]

One idea I have heard mooted is that the leagues make it a requirement that clubs file confirmation of monthly payments of NIC PAYE & VAT. Failure to do so would incur an immediate 5pt deduction.

Owners might then accept that paying the taxes that every other business is subject to, is not a free overdraft. Perhaps the taxman would get paid before the interest on loans made to the club...wages- including the tax element- would have to be have to be paid when due, not if/when their gamble pays off.

[John Madejski's Wallet]

One idea I have heard mooted is that the leagues make it a requirement that clubs file confirmation of monthly payments of NIC PAYE & VAT. Failure to do so would incur an immediate 5pt deduction.

Owners might then accept that paying the taxes that every other business is subject to, is not a free overdraft. Perhaps the taxman would get paid before the interest on loans made to the club...wages- including the tax element- would have to be have to be paid when due, not if/when their gamble pays off.

^^ quite like that idea tbf

Pay your taxes as you go, then you're free to still use the football creditors rule if/when you go tits up

[Barry the bird boggler]

The rule should go completely, after all if I ran any other business and got into trouble my staff wouldn't be protected so why should footballers be any different.

[watfordroyal]

Christ, didn't realise quite how much tax Pompy/Leeds have got away with

http://www.sportingintelligence.com/201 ... it-250301/

Yeah same, think Leeds need to get the same chants of
"tax dodging busturds" as we direct at Pompey, when they come visiting,
as well as lolz at Colin.