NathStPaulStrandedHound That’s really shit for Burnley tbh. They were a well run club until the takeover - what has gone on there? They’ve hardly blown the lot on signings - in fact I can’t see a player they’ve bought for anything about 10m there but maybe wrong
If they really do have to pay back 100m quid and with the number of players they have out of contract - again don’t see a lot they can sell - they’ll struggle to go back up
The new owners purchased the club using a leveraged buyout - similar in the way the Glazers bought Manchester United. In order to get the funds they had to tie this to future earnings, naturally if they were still in the PL that would be no issue at all but the lenders know if they remain outside the PL for any period of time, there is a major risk to ever getting their money back hence the clause that if they dropped out they would be liable for a large amount, 65m, relatively quickly.
It does look like it is not due right now, but by the end of the "debt period" which can best be described as the end of the season. So they really have to go up next year or they are in major strife.
They have Pope, McNeil and Cornet who are all sellable assets, reckon they'd get near £65m for those three alone. With the first parachute payment on top of that I would imagine they would be ok when it came to the first payment. It of course screws them for the future though, can see them being a Preston North End for years to come.
They do but it's no secret that they need the cash, so can see a lot of clubs lowballing them. For example, they want 30m for Pope apparently. Can see them only getting bids for half that much as they will be in a relatively weak bargaining position.