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Debt

Discussion in 'The Championship' started by Norwayhornet, Apr 3, 2011.

  1. Norwayhornet

    Norwayhornet Well-Known Member

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    If new rules came in forbidding debt at professional Football clubs , I was wondering how many clubs would be left! I think Watford are in debt to the tune of £12M
    Forest and coventry have made a huge loss over the last couple of seasons!
    Been well documented about How much Man U owe!
    So how many clubs are self sustainable in there own right and not reliant on a sugar daddy!!
     
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  2. Northolt-QPR

    Northolt-QPR Active Member

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    Have you not got new owners, have they not got money to take the club forward?
     
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  3. Norwayhornet

    Norwayhornet Well-Known Member

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    thats just it Northolt No they dont have money just more loans!! a knee tapper an old granny hairdresser and a north london ex bankrupt spiv who has killed a long list of companies!! I dont feel happy at all!
     
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  4. Northolt-QPR

    Northolt-QPR Active Member

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    Doesn't sound good.
     
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  5. Norwayhornet

    Norwayhornet Well-Known Member

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    yeah personally I think it stinks ,time will tell! sod all I can do about anyway <laugh><wah>
     
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  6. Jerel Ifil

    Jerel Ifil Well-Known Member

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    Leeds United. Though if we had an owner who actually provided investment out of their own pocket that would be appreciated too.
     
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  7. BrixtonR

    BrixtonR Well-Known Member

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    As I understand it, QPR's supposed new found riches hide the fact that the club itself is still very much in debt - it's just underwritten by certain shareholders (or suger daddies as Norway puts it!).

    That fact is that with all the tinsel of high octane commercialism, few if any clubs can balance the books nowadays. As has oft been said (but nothing done about it) players are paid far too much (big understatement) and there is rarely a return on transfer fees.

    Oh what a deep hole we're in... why do we keep digging? Football's credit crunch has yet to fully kick-in. It'll be back to park football at some stage (no more Watfords, QPRs or even Man Us and Chelskis) with a lot of formally solvent / wealthy investors asking themselves why they got involved in the first place.

    Market rules OK (remember that one?) !

    Old loyalties and sentimentalities apart, is this such a bad thing? Come on you lads from down my local pub: we need a good win today!
     
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  8. Norwayhornet

    Norwayhornet Well-Known Member

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    Whilst little clubs fold nothing will be done ! it is going to take a prem club to die before the lily livered authorities will do anything! The cost of going to the footy these days is insane ,when you compare it to a day of international cricket or rugby! £25+ to see a game in the championship loads more in the prem! How many young families can afford those sort of prices! so you turn to TV and streaming and football loses that little bit of income!
    The game moneywise at the moment is totally insane,there must be salary caps bought in in line with a clubs income! but it`ll never happen!
     
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  9. BrixtonR

    BrixtonR Well-Known Member

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    The reason things won't be changed before it all goes go bang is because where there's brass there's muck! The decision makers (Blatter downwards) are like flies round the proverbial... and what do they actually contribute to our Saturdays down at the game? Sweet FA!
     
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  10. Norwayhornet

    Norwayhornet Well-Known Member

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    It would be quite good if there were ever to be a breakaway few countries that would leave Fifa and start their own alternate world cup!!! I bet they would squeal like stuffed pigs and do something to stop it in double quick time!!!
     
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  11. Scottswan

    Scottswan Active Member

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    Swansea City... profit of 600k without taking into account increased player values :)
     
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  12. Norwayhornet

    Norwayhornet Well-Known Member

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    Nice one Scottswan ! good to see more unfashionable clubs doing well !
     
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  13. Scottswan

    Scottswan Active Member

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    Totally man. I think the only clubs I´ve heard of making a profit are us and Wolves... Blackpool probably will this financial year? Arsenal are still turning a profit but that´s all earmarked to pay off the stadium debt.
     
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  14. originallambrettaman

    originallambrettaman Mod Moderator
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    Hull City are debt free, but only because a new owner came in and paid £40m to buy the club and clear all the debts.
     
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  15. BrixtonR

    BrixtonR Well-Known Member

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    I'm no finance whizz but everyone knows that if you borrow and can't pay back, you're in deep do-do.

    In the world of football cost vastly outweighs income as a norm and across the board. That spells disaster in anyone's language. Problem is at the moment, tell the obvious truth and you're a prophet of doom! No one wants to know, let alone start doing something about it. Half that world are addicts too busy sorting a weekly results fix and the other half are mindlessly spunking the proceeds up against the wall.

    Meantime the average fan, who's dreams float on the sporting fortunes of their local club watch other clubs up and down the leagues going under. Is it going to be you this time, or us? At the moment something usually turns up to bail most out: a buyer, administration, re-invention. With all the losses, there'll come a time when no one's interested in buying debt and the kudos fades.

    Norway's idea of a breakaway movement could well happen amomgst the football loving non-elite who ain't making ouwt anyway. It'll probably be like a populist national cum global AFC Wimbledon-type intitiative, all founding fathers and Corinthian Casuals stuff - a highly moralistic reaction to the greasy fat cat and the decadent dollar! 'Players of the FR (Football Revolution) resolve never to dive, and certainly not in the box...'.

    Mmmm, could be fun watching people competing for a reasonable living and the surplus going to UK sport as a whole. Might get a Wimbledon champion or two out of it... maybe a few more olympic golds - but I wouldn't hold your breath!
     
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  16. Norwayhornet

    Norwayhornet Well-Known Member

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    Can see where you going with this Brixton! Sounds really pleasant and idealistic , but alas will someone organise it on a global scale,I think not! Shame really would be highly entertaining to see the fat cats get kicked out!
     
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  17. Scottswan

    Scottswan Active Member

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    That's a class idea, I just wish we lived in a society where it'd be allowed/encouraged to happen.

    I read a book called "Theatre of Silence", and some of the quotes from the PL chiefs upon the formation of the league were breathtakingly ironic, given hindsight... things like "With all this additional TV revenue, we'll be able to pass this on to fans in the form of better facilities and lower ticket prices."

    What the hell happened, eh boys?
     
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  18. Norwayhornet

    Norwayhornet Well-Known Member

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    Basically greed I think!
     
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  19. BrixtonR

    BrixtonR Well-Known Member

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    Vastly overpaid players and too many greasy handshakes Scotty.

    I know the Swans are just about solvent at the moment but speaking of the potential for irony here, can you see a day when you're playing Watford or Rangers over the local park - jackets for goal posts and a beer and a pie down the pub afterwards?!

    All sounds a bit of a rose tinted fantasy, yet we're talking the consequences of financial disaster! Ironic ain't the word.
     
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  20. BrixtonR

    BrixtonR Well-Known Member

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    PS - Congrats Norway. another quality debate you've kicked off here.
     
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