Generic clubs in financial crisis Thread

[Urinal Mint]

Fairy1980 wrote:

They have made a 35mil claim Sui which AA is disputing.
I have a feeling they have doubled it so if it mis 20p in the pound then they will only be out of pocket by a couple of mil.
Guardian article just come out.

http://www.guardian.co.uk/football/2010 ... mrc-taxman

Good work HMRC.

[handbags_harris]

http://www.bbc.co.uk/blogs/davidbond/20 ... tupid.html

Noticed a thread opened on it, but this can surely only help. On the face of it there seems to be a wholesale shift in the attitude of Scudamore and his cronies, but of course there's always devil in the detail and I expect this to be no different...

[Dirk Gently]

Hmmm, I'm not so sure - Scuadmore is absolutely adamant that "his clubs" will be governed by the PL (i.e. them) - and that they will not accept regulation or outside influence by anyone - UEFA, The FA, central government, etc.

So while they all seem to agree that some kind of change/control is needed, who provides and manages it is the big question.

[handbags_harris]

Hold on, surely if those clubs play in FA, UEFA, and FIFA sanctioned competition then those clubs should be held to account over the FA, UEFA, and FIFA regulations?

[Sun Tzu]

Hold on, surely if those clubs play in FA, UEFA, and FIFA sanctioned competition then those clubs should be held to account over the FA, UEFA, and FIFA regulations?

You'd expect that those organisations would only accept their entries if the clubs met the competition rules.

Of course the PL would no doubt be delighted to get together with other rich clubs and form their own European competitions....

[Barry the bird boggler]

It's quite simple; FIFA, the FA and UEFA should have the bottle to stand up to any club that does not want to abide by their rules and regulations and quite simply kick them out of all competitions and ban any player who plays for those clubs from any international competition.

If those clubs then want to go and play with themselves then fine - then the rest of us can get on with proper football.

[Skyline]

It's quite simple; FIFA, the FA and UEFA should have the bottle to stand up to any club that does not want to abide by their rules and regulations and quite simply kick them out of all competitions and ban any player who plays for those clubs from any international competition.

If those clubs then want to go and play with themselves then fine - then the rest of us can get on with proper football.

Great idea in theory, but it does rather ignore where those organisations get their funding from. I'd be surprised if money that came from sources other than clubs, TV, and sponsors (whether directly or indirectly*) was very high.

Imagine what would happen if you piss off the big clubs enough so they form a breakaway league of some kind.

Firstly, the TV money would head off to follow the new big-club league. Then it's unlikely you'll keep the sponsors onboard - they want their names to be associated with the big clubs with the large followings, and (more to the point) they want their names on the TV coverage.

Pretty soon you'd have FIFA, UEFA, and the FA going cap-in-hand to the clubs asking them to come back into the fold, and probably offering them even more incentives to do so.

* - Even if the money comes from country FAs, the majority of that money probably comes from clubs, TV deals, and sponsors, so the same comments apply to them.

[Royal With Cheese]

Brendan Rodgers to Notts County?

I was thinking that last night.

[rhroyal]

http://www.bbc.co.uk/blogs/davidbond/20 ... tupid.html

Do you think people are finally learning after the Pompey experience? Could UEFA's rules only affecting the top domestic teams have a trickle down effect?

[rhroyal]

http://www.bbc.co.uk/blogs/davidbond/2010/05/its_financial_fair_play_stupid.html

Do you think people are finally learning after the Pompey experience? Could UEFA's rules only affecting the top domestic teams have a trickle down effect?

Interesting little comment below:

"Is there anything in the new rules that will stop, for example, Abramovich signing a £50m a year shoelace sponsorship agreement with Chelsea, thereby putting money into the club by way of revenue rather than equity investment or loan? Nothing I've read suggests that he couldn't do that."

Loopholes will surely be found.

[Royal With Cheese]

http://www.bbc.co.uk/blogs/davidbond/2010/05/its_financial_fair_play_stupid.html

Do you think people are finally learning after the Pompey experience? Could UEFA's rules only affecting the top domestic teams have a trickle down effect?

Interesting little comment below:

"Is there anything in the new rules that will stop, for example, Abramovich signing a £50m a year shoelace sponsorship agreement with Chelsea, thereby putting money into the club by way of revenue rather than equity investment or loan? Nothing I've read suggests that he couldn't do that."

Loopholes will surely be found.

But then this will be a transaction with no threat of Abramovitch technically being able to recall this money. I would imagine this is a positive step rather than a negative one.

[Dirk Gently]

http://www.bbc.co.uk/blogs/davidbond/2010/05/its_financial_fair_play_stupid.html

Do you think people are finally learning after the Pompey experience? Could UEFA's rules only affecting the top domestic teams have a trickle down effect?

Interesting little comment below:

"Is there anything in the new rules that will stop, for example, Abramovich signing a £50m a year shoelace sponsorship agreement with Chelsea, thereby putting money into the club by way of revenue rather than equity investment or loan? Nothing I've read suggests that he couldn't do that."

Loopholes will surely be found.

But then this will be a transaction with no threat of Abramovitch technically being able to recall this money. I would imagine this is a positive step rather than a negative one.

yep - money which is "given" or "earnt" will be legitiumate as income - it's debt (hard or soft) that isn't allowed.

[Royal With Cheese]

But then this will be a transaction with no threat of Abramovitch technically being able to recall this money. I would imagine this is a positive step rather than a negative one.

yep - money which is "given" or "earnt" will be legitiumate as income - it's debt (hard or soft) that isn't allowed.

Does this work retrospectively and if so does Madejski, and consequently Reading, have to worry?

[readingbedding]

Palace in big trouble.

[Urinal Mint]

Palace in big trouble.

When is the deadline before they incur another points deduction for the new season, and will it be more than the last deduction?

[woodley_royal_124]

think they got until 3pm tomorrow

[Urinal Mint]

Crystal Palace face liquidation unless the consortium attempting to buy the stricken club can complete the deal by Tuesday afternoon.

CPFC 2010, the group headed by local businessmen Steve Parish and Martin Long, claim they have until 3pm to secure their takeover or Agilo, the hedge fund which put Palace into administration in January, will begin selling off players and dissolving the club.

The consortium, whose bid to save the club has stalled over the sale of their Selhurst Park ground, have even called on Prime Minister David Cameron to intervene with the south London club on the brink of going out of business.

Selhurst Park is currently under the control of separate administrators PricewaterhouseCoopers, who are selling the ground on behalf of Bank of Scotland.

The sticking point appears to be a clause in the deal which would see the bank receive further money if the ground was sold on in the future.

A statement from CPFC 2010 read: "We have now reached agreement with Agilo regarding their debt against the club and did have what we thought was an agreement with Bank of Scotland, who are the major creditor of Selhurst Park Ltd.

"Subsequent to this agreement we have been sent a contract that does not reflect this agreement and is unworkable.

"As we sit today the future of Crystal Palace hangs in the balance and is very much in the hands of a person in a bank in Scotland whom we have never met and, it seems, we are not allowed to speak to.

"We note the new government's commitment to sport, particularly sport in the community. Bank of Scotland is currently government owned.

"As such we would urge the new Prime Minister to intervene personally to resolve the situation or see a club supported by many thousands, and with a 100-year history, consigned to the scrapheap."

Palace avoided relegation to League One on the final day of the season when a 2-2 draw with Sheffield Wednesday sent the Yorkshire team down instead.

But Brendan Guilfoyle, the administrator running the club, on Friday made 29 members of staff redundant and does not have the money to pay the wages for May.

Palace fans were planning to hold a demonstration at Selhurst Park on Monday in an attempt to highlight the club's plight.

I don't want to see them vanish, but you just know they'll be an extension, and another.. I just can't imagine such a sized club going bust. However, I suppose sooner or later it has to happen.

[Ian Royal]

I like Palace, fingers crossed they get through this and then sort themselves out properly and permanantly. Although I suspect doing that would mean not competing seriously at this level for a while.

[leww_rfc]

Palace in big trouble.

Has someone walked on the pitch?

[soggy biscuit]