Generic clubs in financial crisis Thread

[PieEater]

So have I got this right:-

• 10 years ago, Pompey went into Administration, all debts written off, and were bought out by Gaydamak who starts the over spending.
• Over the next 10 years they build up debts of £70M
• They use this money to give themselves Premiership membership and an FA cup win, at the expense of others
• They go into Administration, and get their debts written off again, the points deduction being meaningless
• Club gets bought out again and cycle repeats

So the other clubs, Tax payers and other creditors fund their champagne lifestyle.

Where is the punishment to stop this being a successful business model?

As well as selling £95m worth of players since 2008. I forget how much they paid for these players (or at least agreed to pay), but it can't of been more than £50m, so somehow they've managed to piss away nearly £40m as well as the Premier league money.

[exileinleeds]

Bournemouth issued with a winding up order. Court date 31/3/10

[soggy biscuit]

http://www.bbc.co.uk/blogs/mattslater/2010/02/portsmouth_fc_in_crisis_qa.html

[Silver Fox]

That all seems strangely familiar

[royalsteve]

Isnt about time the football governing bodies did soemthing about this...ah there is the problem, who is really the authority....the fa cant tell the prem league and fifa dont have any say so on the prem league also....hmmm

what it needs is a set of rules that all clubs in the world must follow so that we erradicate this joke business model where clubs can spend way more than they earn and when they run out of funds go into administration to clear their responsibilities and then start again...clubs should not be allowed to spend more than they earn - i guess there could be a caveat where a very rich owner (man city) could spend more and a method has to be in place to cater for this....eg the additional money is left in a 3rd party under a controlling company managed by the authorities bit like escrow

i am glad we have a sensible chairman/owner, sure we could moan that he should soend more but at what cost to the long term viaibility of the club, no thanks

perhaps some idiots will get off mr mad's back now

im also gald that pompey have gone into admin as i was annoyed at their toothless performance on the final day of the season 2 seasons ago which meant we went down (well ok over the season it was our fault, but they didnt help at all - reckon a pub team could have beaten them)

[rabidbee]

Arsenal have posted their half year pre-tax profits of more than £35m. They have significantly reduced their borrowings by about a third.

If they can be run in a profitable and honest way, why can't they all...it's not as if clubs are run by crooks and money launderers is it?

I really hope that the Arsenal fans who used to moan about teh club's parimoniousness have now had a bit of a rethink.

[donface]

Considering the bitching about their alleged goalkeeper crisis, I think not.

[wolsey]

Chester are still a going concern, they will more than likely make it to the end of the season. Whether they are able to continue beyond then though remains to be seen.

Not really. Chester pleaded guilty to all 5 charges the The Conference brought agiant them - and the Conference has recommended that they be expelled and is in the process of arranging an EGM for their members to vote on this recommendation.

Expelled from Conference according to SSN

[exileinleeds]

Chester have been thrown out of the Conference- breaking news on Sky.

[Maquisard]

Chester have been thrown out of the Conference- breaking news on Sky.

I know an AFC Wimbledon fan who's very happy about that!

[T.R.O.L.I.]

Chuffed for the Chester fans as it's finally an end to the farcical situation. As for the fans of the other Conference Clubs who are annoyed by this decision because they lose ground on their rivals rather than looking deeper into the situation at Chester - tough shit.

[Alan Partridge]

What I find so wrong about the chester situation, is this is all down to 1 person. Stephen Vaughan. How can 1 person run an entire club into the abyss with no one able to step in and stop the madness?

They have been a farce in what is a farce of a division. I feel gutted for their fans who have lost their club after 125 years but at least they can rebuild and clear them total c*nts out of their new club.

[TFF]

Mystery Pompey buyer unveiled

http://frattonise.blogspot.com/2010/02/ ... ompey.html

[Barry the bird boggler]

[wolsey]

What I find so wrong about the chester situation, is this is all down to 1 person. Stephen Vaughan. How can 1 person run an entire club into the abyss with no one able to step in and stop the madness?

They have been a farce in what is a farce of a division. I feel gutted for their fans who have lost their club after 125 years but at least they can rebuild and clear them total c*nts out of their new club.

The Chester fans that I know will be be relieved at this news - one step closer to getting rid of Vauaghan. As far as I am aware the Local Authority are generally supportive of a football team in the City and will do what they can to support whatever Phoenix Club is created.

[Barry the bird boggler]

The sad thing about Chester getting kicked out is that it now means Oxford have a 6 point lead at the top of the Conference - and it drops Cambridge even more into trouble.

[Arch]

Considering the bitching about their alleged goalkeeper crisis, I think not.

They have a point there.

[Ian Royal]

Pleased for Chester that they can finally start again.

[Franchise FC]

I still reckon that some mug will pop up at the 11th hour and save them.....

What would be best would be if someone buys Pompé and then relocates them to another location à la MK Dons, who would have also gone bust too.

Franchise FC's may unfortunately end up becoming the 'saviour' of football

If only I were that rich !!

[SLAMMED]