Generic clubs in financial crisis Thread

[Sutekh]

"We can't keep having a situation in this country that football clubs can go under because of the voracious capitalistic notion that you can come in, strip assets and ignore fans. We're the polar opposite of that.

Says co-founder of FC100,000 Michael Brady, after talks with Scunthorpe are terminated

https://www.bbc.co.uk/sport/football/ar ... 2zegnn4nmo

He also said

You've had horrible owners who have led to all these challenges and we are trying to do the exact opposite of that and yet we've been met with vitriol.

So what is it with Scunthorpe, seems their fans are stitching them up now but there isn’t enough info in this article explaining things.

Perhaps this FC1000000 might choose to invest in Reading Phoenix instead….

[bcubed]

"We can't keep having a situation in this country that football clubs can go under because of the voracious capitalistic notion that you can come in, strip assets and ignore fans. We're the polar opposite of that.

Says co-founder of FC100,000 Michael Brady, after talks with Scunthorpe are terminated

https://www.bbc.co.uk/sport/football/ar ... 2zegnn4nmo

He also said

You've had horrible owners who have led to all these challenges and we are trying to do the exact opposite of that and yet we've been met with vitriol.

So what is it with Scunthorpe, seems their fans are stitching them up now but there isn’t enough info in this article explaining things.

Perhaps this FC1000000 might choose to invest in Reading Phoenix instead….

Yeh something they dont like about FC100,000 but it doesn't make it clear

And I doubt Reading would turn them down given our situation

[Dirk Gently]

Yeh something they dont like about FC100,000 but it doesn't make it clear

And I doubt Reading would turn them down given our situation

They're the latest iteration of MyFootballClub that dallied with Ebsfleet a few years ago.

They don't have a proper hands-off relationship between the membership organisation and the board/staff that actually run the club - their model is that the members have votes each week to directly decide signings, starting players etc etc.

[Sutekh]

Yeh something they dont like about FC100,000 but it doesn't make it clear

And I doubt Reading would turn them down given our situation

They're the latest iteration of MyFootballClub that dallied with Ebsfleet a few years ago.

They don't have a proper hands-off relationship between the membership organisation and the board/staff that actually run the club - their model is that the members have votes each week to directly decide signings, starting players etc etc.

No they don't propose that any more. Their model now is:

Unlike the MyFootballClub project, which initially suggested members would be able to have a say around on-pitch decisions, something which never came to pass, FC 100,000 would only give subscribers a vote on "very selective issues"

Which, I think, is pretty much as you'd expect it to be.

[From Despair To Where?]

Shit idea,if you ask me. My take is that you get 100,000 randoms playing £60 a year to own a club. What happens when after 2 years the novelty wears off for 20,000 people?

Incidentally, there's a club in Scottish junior football run along similar lines but IIRC, they're effectively a start up. (Caledonian Braves)

[Dirk Gently]

Greenock Morton's funding model is that members pay a monthly donation (usually £10, £20 or £30 a month, although some pay a lot more) that goes directly into the playing budget. In the five years since it went into community ownership over a million quid has been donated.

But there are no silly votes or supporter referenda, etc - there's a board running the football club, of which a majority of members are appointed by MCT, the membership organisation.

[Snowflake Royal]

Yeh something they dont like about FC100,000 but it doesn't make it clear

And I doubt Reading would turn them down given our situation

They're the latest iteration of MyFootballClub that dallied with Ebsfleet a few years ago.

They don't have a proper hands-off relationship between the membership organisation and the board/staff that actually run the club - their model is that the members have votes each week to directly decide signings, starting players etc etc.

Not true.

The article states this guy wasn't directly involved with Ebbsfleet... may or may not be true, but does seem to have been involved with Myfootballclub. But MFC mever gave that level of involvement despite promising to and this iteration doesn't promise anything like that level of involvement.


Doesn't change that his model is madness and doomed to failure within a few years as people get bored.

[Dirk Gently]

Administrators say they have so far been unsuccessful in finding new owners for Inverness Caledonian Thistle and they may be liquidated this summer

Statement today :

The Joint Administrators of Inverness Caledonian Thistle can confirm that a positive meeting with loan creditors, major shareholders and a former Director of the club has taken place, resulting in heads of terms being agreed to facilitate the writing off of loans and the return of shares to the club. This is conditional upon achieving a successful exit from Administration and the club continuing to operate.
The Administrators have spent time re-engaging with a number of interested parties and are pleased to advise that discussions are ongoing with 4-5 parties regarding an offer for the club. This process will continue throughout April.

[Mr Angry]

Sheffield Wednesday going down a road that all sounds very familiar to us.....................

https://www.bbc.co.uk/sport/football/ar ... 4q31yl0lvo

Sheffield Wednesday have failed to pay their players' wages for March due to cashflow problems suffered by owner Dejphon Chansiri.

The club said it was a "temporary issue" due to debts owed to the 56-year-old Thai businessman, whose family control the Thai Union Group, the world's largest producer of canned tuna.

Wednesday are 12th in the Championship - five points outside the play-off places - and face Hull City at home on Saturday.

"Sheffield Wednesday can confirm a temporary issue with the payment of player salaries for the month of March," said a club statement.

"This has occurred as a result of significant sums of money owed to the chairman's businesses which has in turn impacted on the club's immediate cashflow.

"The chairman is working hard to resolve this situation at the earliest possible opportunity and in the meantime thanks everyone for their patience and understanding."

Chansiri headed up a Thai consortium which bought Wednesday from Milan Mandaric in January 2015, but his time in charge of the club has seen a number of financial challenges.

In July 2019, Wednesday sold their Hillsborough stadium to Chansiri for about £60m in ensure they did not breach spending rules.

Then in October 2023, Chansiri asked fans to raise £2m to help the club pay an outstanding debt to HM Revenue and Customs (HMRC) and cover wages.

Last November, the Owls were placed under a registration embargo by the EFL over amounts owed to HMRC.

Chansiri's stewardship of the club has been criticised by fans, who have protested at matches this season, while his relationship with manager Danny Rohl has become strained.

[Hendo]

Sheffield Wednesday going down a road that all sounds very familiar to us.....................

https://www.bbc.co.uk/sport/football/ar ... 4q31yl0lvo

Sheffield Wednesday have failed to pay their players' wages for March due to cashflow problems suffered by owner Dejphon Chansiri.

The club said it was a "temporary issue" due to debts owed to the 56-year-old Thai businessman, whose family control the Thai Union Group, the world's largest producer of canned tuna.

Wednesday are 12th in the Championship - five points outside the play-off places - and face Hull City at home on Saturday.

"Sheffield Wednesday can confirm a temporary issue with the payment of player salaries for the month of March," said a club statement.

"This has occurred as a result of significant sums of money owed to the chairman's businesses which has in turn impacted on the club's immediate cashflow.

"The chairman is working hard to resolve this situation at the earliest possible opportunity and in the meantime thanks everyone for their patience and understanding."

Chansiri headed up a Thai consortium which bought Wednesday from Milan Mandaric in January 2015, but his time in charge of the club has seen a number of financial challenges.

In July 2019, Wednesday sold their Hillsborough stadium to Chansiri for about £60m in ensure they did not breach spending rules.

Then in October 2023, Chansiri asked fans to raise £2m to help the club pay an outstanding debt to HM Revenue and Customs (HMRC) and cover wages.

Last November, the Owls were placed under a registration embargo by the EFL over amounts owed to HMRC.

Chansiri's stewardship of the club has been criticised by fans, who have protested at matches this season, while his relationship with manager Danny Rohl has become strained.

He is a proper loon - at least our owner saves us extra embarrassment by not opening his mouth.

[Winston Biscuit]

Chelsea report a handsome profit, after selling their women's team to Todd Boehly's company

even more profit than they made last season, after they sold 2 hotels to Todd Boehly's company!

[Sutekh]

Chelsea report a handsome profit, after selling their women's team to Todd Boehly's company

even more profit than they made last season, after they sold 2 hotels to Todd Boehly's company!

This is quite plainly an obvious “dodge” around the rules. Want to spend more money on your team? Simply create a holding company and sell the club ground/hotel/ancillary team or other asset to it. Things like this should be banned.

What next, selling them back to the club for a pittance and then re-selling on again at a later date?

[Winston Biscuit]

Chelsea report a handsome profit, after selling their women's team to Todd Boehly's company

even more profit than they made last season, after they sold 2 hotels to Todd Boehly's company!

This is quite plainly an obvious “dodge” around the rules. Want to spend more money on your team? Simply create a holding company and sell the club ground/hotel/ancillary team or other asset to it. Things like this should be banned.

What next, selling them back to the club for a pittance and then re-selling on again at a later date?

I wonder if there is a way of selling the whole club in this manner.

'Chelsea have recorded a £3 billion profit this season after Chelsea FC sold itself to Todd Boehly's company, and then were gifted back'

[Sanguine]

Every time something like this^ happens, a European Super League moves a step closer again. It's bullshit.

[Mr Angry]

Chelsea report a handsome profit, after selling their women's team to Todd Boehly's company

even more profit than they made last season, after they sold 2 hotels to Todd Boehly's company!

This is quite plainly an obvious “dodge” around the rules. Want to spend more money on your team? Simply create a holding company and sell the club ground/hotel/ancillary team or other asset to it. Things like this should be banned.

What next, selling them back to the club for a pittance and then re-selling on again at a later date?

Totally legal under PL rules; UEFA is a different matter apparently...........personally, I think that it isn't that far removed from money laundering.

[Sutekh]

Chelsea report a handsome profit, after selling their women's team to Todd Boehly's company

even more profit than they made last season, after they sold 2 hotels to Todd Boehly's company!

This is quite plainly an obvious “dodge” around the rules. Want to spend more money on your team? Simply create a holding company and sell the club ground/hotel/ancillary team or other asset to it. Things like this should be banned.

What next, selling them back to the club for a pittance and then re-selling on again at a later date?

Totally legal under PL rules; UEFA is a different matter apparently...........personally, I think that it isn't that far removed from money laundering.

Well exactly. Seem to recall now some comment in the media that PL clubs didn’t want to ban it! This really needs to be something the independent regulator lays the law down on, so it’s in line with UEFA, and avoid asking the turkeys to vote on Christmas altogether.

Still, should Chelsea qualify for future UEFA competitions, they may find themselves unable to take part…