Sandro Rosell The club is not bankrupt because it generates income
Depends on the amount of income, surely, as Mr Micawber would tell you.
by Deadlock » 07 Jul 2010 17:39
Sandro Rosell The club is not bankrupt because it generates income
by PieEater » 07 Jul 2010 17:46
by Dirk Gently » 07 Jul 2010 17:48
PieEater DG will have to keep bailing them out month to month or with a sizable loan up front since the initial £6m seems to have already gone..
by PieEater » 07 Jul 2010 17:53
by Urinal Mint » 07 Jul 2010 19:11
by TFF » 14 Jul 2010 14:03
soggy biscuit Not Pompey related but I heard on the radio yesterday that Jimmy Bullard refused to join Celtic as they wouldn't pay him £75k a week. Instead he has returned to Hull and says he will stay there for the season.
Bullard's contract at Hull is £45k a week with a clause stating that after every 15 games he plays his weekly wage rises by £3k. Hull say they cannot afford to keep him let alone play him again as he is due a wage increase in 2 games time!
by Barry the bird boggler » 14 Jul 2010 14:10
by Thankgodisfriday » 19 Jul 2010 21:47
by Terminal Boardom » 19 Jul 2010 21:56
by SLAMMED » 19 Jul 2010 23:35
by Row Z Royal » 20 Jul 2010 09:35
SLAMMED Isn't the saying 'Thank God IT'S Friday' ?
by Skyline » 20 Jul 2010 10:03
Thankgodisfriday The frequency of reoccurrence of insolvency gives further weight to the assertion. Some 47% of repetitions happened within four years and 68% within seven. In only four cases were debts at the time of reoccurrence lower than they had been originally, suggesting clubs were not learning their lessons.
...
It also identifies a model of "repeat offenders" who have difficulty recovering from the impact of earlier insolvencies, or which have decided that insolvency is an acceptable process to be used to clear debt.
by PieEater » 20 Jul 2010 12:41
by Dirk Gently » 20 Jul 2010 19:04
SkylineThankgodisfriday The frequency of reoccurrence of insolvency gives further weight to the assertion. Some 47% of repetitions happened within four years and 68% within seven. In only four cases were debts at the time of reoccurrence lower than they had been originally, suggesting clubs were not learning their lessons.
...
It also identifies a model of "repeat offenders" who have difficulty recovering from the impact of earlier insolvencies, or which have decided that insolvency is an acceptable process to be used to clear debt.
The FA could help to prevent situations like this if they introduced a rule whereby any club going insolvent twice within 10 years is automatically relegated two divisions, and a third insolvency within another 10 years results in expulsion from whatever league they are in.
by Ian Royal » 20 Jul 2010 20:34
PieEater I like the idea of 3 strikes and you're out, but each insolvency usually brings in new owners. So why should they get penalised for the previous owners mistakes and it would make it really hard to find a new owner for a club that had already been insolvent twice.
by Barry the bird boggler » 21 Jul 2010 06:45
by Rev Algenon Stickleback H » 21 Jul 2010 18:58
Barry the bird boggler I'd go for 2 strikes in 10 years and you're out.
by Sun Tzu » 21 Jul 2010 20:29
Rev Algenon Stickleback HBarry the bird boggler I'd go for 2 strikes in 10 years and you're out.
Such a rule isn't really getting to the heart of the problem. Some clubs find themselves in a mess despite their best intentions to avoid debt. I don't think those clubs should be punished so severely. It's only the ones who have shown no financial restraint and have treated their finances as a gamble that should be hit hard.
by Dirk Gently » 21 Jul 2010 21:03
by weybridgewanderer » 22 Jul 2010 08:22
Users browsing this forum: Four Of Clubs and 55 guests