Generic clubs in financial crisis Thread

[Stranded]

Doesn't mean they won't let them in but they would be penalised before gaining entry.

According to the first sentence - "A club won't be eligible for enty into the League if........"

Clearly, the rule was drawn up looking at a Conference team coming up, rather than a Premier League team coming down, but it seems unambiguous to me..

True, but am going on clubs who are admittedly members already - technically each club needs to apply for FL membership each year to get their golden share. Previously clubs in similar situations have been given the right to play despite breaking this rule with a points penalty in place - would imagine the same would happen to Pompey,

[SWLR]

http://www.moneymarketing.co.uk/1007946 ... newsletter

'The former chief executive of Blackpool Football Club, who described himself as a “financial adviser” has been jailed for four-and-a-half years for helping to launder £300,000 for an international drug dealer'

Always strange that these people like the publicity of owning a football club, and are then surprised when attention is drawn to their other 'activities'.

[paultheroyal]

Nice to see yet another imaginitive name for a reborn club... you'd think it was illegal to have anything else but AFC or FC stuck in front of the name of the town !

Different to what....

Chester Town
Chester County
Chester Athletic
Chester Spartans.....

[buzzby]

Portmouth have to appeal to get there FA cup money.

http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8555595.stm

Surely this money should not be allowed to go to the club.

[Stranded]

Chester's results for the season have been expunged from the record.

Oxford go back to the top with a game in hand as Stevenage lose 6 pts.

[bobbybottler]

http://www.moneymarketing.co.uk/1007946.article?cmpid=MME02&cmptype=newsletter

'The former chief executive of Blackpool Football Club, who described himself as a “financial adviser” has been jailed for four-and-a-half years for helping to launder £300,000 for an international drug dealer'

Always strange that these people like the publicity of owning a football club, and are then surprised when attention is drawn to their other 'activities'.

I can't get the link to work, but I assume that this is about convicted rapist Owen Oyston...?

[Jimmy the Tree]

http://www.moneymarketing.co.uk/1007946.article?cmpid=MME02&cmptype=newsletter

'The former chief executive of Blackpool Football Club, who described himself as a “financial adviser” has been jailed for four-and-a-half years for helping to launder £300,000 for an international drug dealer'

Always strange that these people like the publicity of owning a football club, and are then surprised when attention is drawn to their other 'activities'.

I can't get the link to work, but I assume that this is about convicted rapist Owen Oyston...?

The former chief executive of Blackpool Football Club, who described himself as a “financial adviser” has been jailed for four-and-a-half years for helping to launder £300,000 for an international drug dealer.

Frank McGrath, 59, was sentenced at Manchester Crown Court on Wednesday, after being found guilty of nine counts of concealing criminal funds for drug dealer Silvano Turchet.

McGrath, who is also an ex-Labour councillor for Fulwood in Preston, described himself as a financial adviser, taking cuts from business deals he arranged for wealthy clients and offering others help with debts, although he was not individually registered by the FSA.

McGrath used his own bank accounts to buy assets for Turchet.

Turchet owned a small aeroplane which he used to make trips to Belgium, bringing back hoards of ecstasy and cocaine.

McGrath helped Turchet to convert the cash from his drug hauls into legitimate assets, such as a house in Wrexham.

McGrath also transferred £154,000 to an Italian bank account.

He denied knowledge that Turchet’s money was being made from the drugs trade, but Judge Robert Atherton said was satisfied that by laundering £300,000 in just five months for Turchet, McGrath would have realised it was drugs money.

[PieEater]

http://news.bbc.co.uk/sport1/hi/footbal ... 557188.stm

Cardiff due up in court today. Since they've got loads of cash from the cup run, the ST and land sales it makes you wonder why they just pay the taxman. No wonder HMRC play hardball if this is how they get messed around.

[Dirk Gently]

Chester now officially wound up in the High Court.

[PieEater]

So Cardiff pay HMRC £850k and get 56 days to pay the outstanding, sounds to me like they got off pretty lightly. PAYE will be racking up so they will owe HMRC around £2m by the winding up date.

Having already sold next years income, they are fooked unless they get promoted. Even then they'd have to borrow the cash as I don't think they'll get anything until the start of the season and they won't be selling players until June.

[bobbybottler]

http://www.moneymarketing.co.uk/1007946.article?cmpid=MME02&cmptype=newsletter

'The former chief executive of Blackpool Football Club, who described himself as a “financial adviser” has been jailed for four-and-a-half years for helping to launder £300,000 for an international drug dealer'

Always strange that these people like the publicity of owning a football club, and are then surprised when attention is drawn to their other 'activities'.

I can't get the link to work, but I assume that this is about convicted rapist Owen Oyston...?

The former chief executive of Blackpool Football Club, who described himself as a “financial adviser” has been jailed for four-and-a-half years for helping to launder £300,000 for an international drug dealer.

Frank McGrath, 59, was sentenced at Manchester Crown Court on Wednesday, after being found guilty of nine counts of concealing criminal funds for drug dealer Silvano Turchet.

McGrath, who is also an ex-Labour councillor for Fulwood in Preston, described himself as a financial adviser, taking cuts from business deals he arranged for wealthy clients and offering others help with debts, although he was not individually registered by the FSA.

McGrath used his own bank accounts to buy assets for Turchet.

Turchet owned a small aeroplane which he used to make trips to Belgium, bringing back hoards of ecstasy and cocaine.

McGrath helped Turchet to convert the cash from his drug hauls into legitimate assets, such as a house in Wrexham.

McGrath also transferred £154,000 to an Italian bank account.

He denied knowledge that Turchet’s money was being made from the drugs trade, but Judge Robert Atherton said was satisfied that by laundering £300,000 in just five months for Turchet, McGrath would have realised it was drugs money.

Christ Blackpool certainly attracts some dodgy types.

[The Prisoner]

Chester now officially wound up in the High Court.

Posted loads about Chester, but as I live there I am going to buy one of their loan notes which will help the supporters club (http://www.cityfansunited.com) to start their new club. They don't have a name yet (they can't use Chester City FC, so will prob be Chester FC which is their name of pre 83 or so), but will apply to the Unibond premier (they will probably get into Unibond 1st which is 4 beneath the conference). The local authority have set the bailiffs on the wound up company to boot them out and are open to leasing the Deva to a new team if it can prove credible.

Today is a sad but necessary day for them. Post on devachat.com if you want to show your support.

[Dirk Gently]

Chester now officially wound up in the High Court.

Posted loads about Chester, but as I live there I am going to buy one of their loan notes which will help the supporters club (http://www.cityfansunited.com) to start their new club. They don't have a name yet (they can't use Chester City FC, so will prob be Chester FC which is their name of pre 83 or so), but will apply to the Unibond premier (they will probably get into Unibond 1st which is 4 beneath the conference). The local authority have set the bailiffs on the wound up company to boot them out and are open to leasing the Deva to a new team if it can prove credible.

Today is a sad but necessary day for them. Post on devachat.com if you want to show your support.

Indeed - and there is a slightly ludicrous aside to this story, too.

Just a couple of days ago Vaughan approached the League of Wales to see if they'd be prepared to accept Chester City FC as members!

[The Prisoner]

Chester now officially wound up in the High Court.

Posted loads about Chester, but as I live there I am going to buy one of their loan notes which will help the supporters club (http://www.cityfansunited.com) to start their new club. They don't have a name yet (they can't use Chester City FC, so will prob be Chester FC which is their name of pre 83 or so), but will apply to the Unibond premier (they will probably get into Unibond 1st which is 4 beneath the conference). The local authority have set the bailiffs on the wound up company to boot them out and are open to leasing the Deva to a new team if it can prove credible.

Today is a sad but necessary day for them. Post on devachat.com if you want to show your support.

Indeed - and there is a slightly ludicrous aside to this story, too.

Just a couple of days ago Vaughan approached the League of Wales to see if they'd be prepared to accept Chester City FC as members!

You can imagine the response the fans gave to that! Plus their MD has been on SSN blaming a loss to Barrow in the cup for their demise! Fkn Clueless!!!!!

Two local League of Wales clubs (The New Saints and Connahs Quay I think) had actually applied to the council to play at the Deva next season, but the council have openly backed a true Chester side playing in the English pyramid.

[wolsey]

Farsley Celtic finally gone - wound up today:

http://www.yorkshireeveningpost.co.uk/sport/Farsley-Celtic-Leader39s-shock-at.6140280.jp

[Dirk Gently]

10/03/2010

"Today, 125 years of history of Chester City Football Club was ended at the High Court, and this was a sad culmination in a period of turbulence that has seen the club slip out of the Football League for a second time, fail to pay its employees, and failing to fulfil fixtures in the Football Conference, resulting in an embarrassing expulsion from their competition.

The decision to liquidate the club now allows a new era of football in Chester to commence, an era in which we feel will be a major boost to the community of Chester, and an era that all supporters can be proud of as it is they who will form the life of the reformed club.

Upon news of the liquidation, City Fans United has today submitted an application to The Football Association to reform the club, and we will be working extremely closely with Supporters Direct, who will help guide us through the process of reformation.

We will also be liaising with the Cheshire West & Chester Council, who have been very supportive of our plans to deliver an open, honest football club, properly run by the fans and which encapsulates the whole community.

Despite this being a sad end to the last 125 years, City Fans United are now prepared for the new era, and encourage anyone not currently a member of CFU, to sign up via http://www.cityfansunited.com and be part of the football club that intends to rise from the ashes of its predecessor."

"We will continue to keep everyone informed as we move along the process through our usual channels of communication, including our website."

[Dirk Gently]

Lord Triesman says that fan run clubs can work :

http://www.manchestereveningnews.co.uk/sport/football/manchester_united/s/1195074_triesman_fan_run_clubs_can_work

[Mr Angry]

Peter Storrie on £10k a week keeps his job; a part-timer on £60 a week loses his.

To cut costs.

Another day in the life of that paragon of everything that is right on Planet Premier League, Portsmouth FC.

[wolsey]

Peter Storrie on £10k a week keeps his job; a part-timer on £60 a week loses his.

To cut costs.

Another day in the life of that paragon of everything that is right on Planet Premier League, Portsmouth FC.

But it's all about Change Management - don't worry about Directors, it's all about Headcount, and producing a "lean, mean, fighting machine" for any potential new buyers (oh, and forget about any money laundering allegations)

[PieEater]

It's probably a benefit for these people losing their jobs that they'll actually be getting paid off, as opposed to those that are left who will be unsecured creditors when it all goes titsup in a few weeks, whilst the player get paid in full.