Generic clubs in financial crisis Thread

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Nick Shorey my Lord!
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Re: Generic clubs in financial crisis Thread

by Nick Shorey my Lord! » 18 May 2012 09:46

FiNeRaIn not posting anymore.



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Re: Generic clubs in financial crisis Thread

by Geekins » 18 May 2012 10:05

FiNeRaIn not posting anymore, battling 3/4 of you is pointless when you're all showing that i'm being biased.

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Re: Generic clubs in financial crisis Thread

by sandman » 18 May 2012 10:13

FiNeRaIn the two scenarios arent remotely comparable...pathetic. One was a massive club with 50,000 fans a week paying players 40k a week which seems feasable given the average attendance. one gets 18,000 a week and was spending 80k a week on players, far more obvious to everyone portsmouth were not right financially. Rangers also went nearly two seasons without spending a fee on a player. Its only come to light this season just what whyte was upto, people knew pompey were frauding for seasons.

Bent owner didn't buy anyone trophys tony le mesmer lol, looking at how much rangers have spent on transfer fee's in the last few years. probably less than reading.


Not very feasable when you consider the amount of money being paid each season by the respective Leagues. The difference between the PL and SPL financially is the main reason the latter is lagging so far behind compared to how it was even 10 years ago. What you make up in attendance money you lose in TV money.

Paying players £40,000 a week is not feasable in the SPL no matter what the attendance is.

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Re: Generic clubs in financial crisis Thread

by Dare to Dr£am » 18 May 2012 10:41

sandman
FiNeRaIn the two scenarios arent remotely comparable...pathetic. [b]One was a massive club with 50,000 fans a week paying players 40k a week which seems feasable given the average attendance.


Er, no it doesn't. Not when you don't get the TV money we do in the EPL. SPL is a whole different story!!

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Re: Generic clubs in financial crisis Thread

by Ian Royal » 18 May 2012 11:13

FiNeRaIn There obviously have to be repurcussions, but what can football fans realistically do if someone takes over your club when you don't what them to? If zingaravich comes in and oxf*rd up reading, you will all be powerless to stop him legally. Should you be made to suffer for the next decade because of him...or will you feel the FA could have protected the club and its fans?


Yes. Yes, we should. And yes, we'd be rightly peeved that the authorities hadn't put the checks in place to prevent it happening. But then we all know those checks are pathetically inadequate anyway.


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Re: Generic clubs in financial crisis Thread

by Rev Algenon Stickleback H » 18 May 2012 12:06

FiNeRaIn the two scenarios arent remotely comparable...pathetic. One was a massive club with 50,000 fans a week paying players 40k a week which seems feasable given the average attendance. one gets 18,000 a week and was spending 80k a week on players, far more obvious to everyone portsmouth were not right financially. Rangers also went nearly two seasons without spending a fee on a player. Its only come to light this season just what whyte was upto, people knew pompey were frauding for seasons.

Bent owner didn't buy anyone trophys tony le mesmer lol, looking at how much rangers have spent on transfer fee's in the last few years. probably less than reading.

I take it as well as not buying players, Rangers have completely operated within their budget too, including the tax they should have paid but didn't?

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Re: Generic clubs in financial crisis Thread

by weybridgewanderer » 18 May 2012 12:44

Dare to Dr£am
sandman
FiNeRaIn the two scenarios arent remotely comparable...pathetic. [b]One was a massive club with 50,000 fans a week paying players 40k a week which seems feasable given the average attendance.


Er, no it doesn't. Not when you don't get the TV money we do in the EPL. SPL is a whole different story!!



Pompie have not been in the EPL since they last went into administration yet have been paying "EPL salarys" to players

Its a LONG LONG time since Rangers were spending 40K a week on a player, they had a share issue underwritten by SDM to raise funds and cleared off most of that debt

Note that EBTs(the subject of the big tax case) are NOT ILLEGAL and no ruling has been made on Rangers application of them yet so that has not impacted their current situation

Many teamsin the EPL usethem, including Arsenal

As a Rangers fan I am appauld at how Whyte has behaved.

SDM...typically he did find ways of funding our overspend, including funding a lot of it himself.

Two very different situations

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Re: Generic clubs in financial crisis Thread

by watfordroyal » 18 May 2012 12:58

Finerains argument doesn't stand coz Rangers were in trouble before Whyte came in, the bank were calling in the debt & Murray had been trying to sell for some time. Where were all these bidders then? and if everyone knew Whyte would f*ck them up some more, why did Murray sell them to him? Did he not ask where the money was coming from? Where was Rangers due dilligence?

Let them boycott the cup & scotland, who cares other than the huns.
Will just make them even more hated by the rest of Scottish football.

If the SFA cave in to these threats, then Scottish Football is f*cked forever! :twisted:

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Re: Generic clubs in financial crisis Thread

by 6ft Kerplunk » 18 May 2012 13:10

watfordroyal Let them boycott the cup & scotland, who cares other than the huns.


Its only the fans that have called for the boycott not the club.


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Re: Generic clubs in financial crisis Thread

by weybridgewanderer » 18 May 2012 14:09

watfordroyal Finerains argument doesn't stand coz Rangers were in trouble before Whyte came in, the bank were calling in the debt & Murray had been trying to sell for some time. Where were all these bidders then? and if everyone knew Whyte would f*ck them up some more, why did Murray sell them to him? Did he not ask where the money was coming from? Where was Rangers due dilligence?

Let them boycott the cup & scotland, who cares other than the huns.
Will just make them even more hated by the rest of Scottish football.

If the SFA cave in to these threats, then Scottish Football is f*cked forever! :twisted:


Rangers debt was coming down

the debt was £18M ,down from £27M

SDM wanted to sell , MIM was in financial trouble(not rangers) but the bank saw rangers as one of the easiest ways of removing debt from the MIM group of companies.

there were other ways of "financing" this debt, for example another share issue

I would argue Scottish Football is f*cked anyway. As I have said if Rangers get relegated the money falls out the SPL

I also recall Aberdeen being "saved" previously by league reconstruction!

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Re: Generic clubs in financial crisis Thread

by watfordroyal » 18 May 2012 14:14

6ft Kerplunk
watfordroyal Let them boycott the cup & scotland, who cares other than the huns.


Its only the fans that have called for the boycott not the club.


They're calling for the players not to report if called into the Scotland squad.

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Re: Generic clubs in financial crisis Thread

by watfordroyal » 18 May 2012 14:23

weybridgewanderer
watfordroyal Finerains argument doesn't stand coz Rangers were in trouble before Whyte came in, the bank were calling in the debt & Murray had been trying to sell for some time. Where were all these bidders then? and if everyone knew Whyte would f*ck them up some more, why did Murray sell them to him? Did he not ask where the money was coming from? Where was Rangers due dilligence?

Let them boycott the cup & scotland, who cares other than the huns.
Will just make them even more hated by the rest of Scottish football.

If the SFA cave in to these threats, then Scottish Football is f*cked forever! :twisted:


Rangers debt was coming down

the debt was £18M ,down from £27M

SDM wanted to sell , MIM was in financial trouble(not rangers) but the bank saw rangers as one of the easiest ways of removing debt from the MIM group of companies.

there were other ways of "financing" this debt, for example another share issue

I would argue Scottish Football is f*cked anyway. As I have said if Rangers get relegated the money falls out the SPL

I also recall Aberdeen being "saved" previously by league reconstruction!


That doesn't answer the question why Murray sold to Whyte if everyone knew how dodgy he was? Surely they knew their own season tickets were being mortgaged to pay the debt in the purchase.
They need to look at themselves rather than blaming everyone else.

Are you saying the SPL was reconstucted coz the Dons finished bottom? Wow didn't know we had that much clout!
Prob though, more likely, we finished bottom coz we knew there was no relegation that season. :wink:

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Re: Generic clubs in financial crisis Thread

by Skyline » 18 May 2012 17:23

Chanrai confirmed as the only bidder for Pompey: http://www.bbc.co.uk/sport/0/football/18123113


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Re: Generic clubs in financial crisis Thread

by Mr Angry » 18 May 2012 18:22

His ONLY motivation is to keep Pompey afloat otherwise he loses his "£19M debt" that Portsmouth FC owe him; he won't be doing any further investment in the club, won't think it neccesary to spend any more money on new players other than what is absolutely neccesary, and will be trying, from Day 1, to sell it on to any mug - sorry, investor - with money willing to take it on so he can get his cash. That isn't a long lerm, or even medium term, business plan, and under this guy Pompey are simply a dead man walking.

They are going to die the death of a thousand wasted dreams and of never-ending hope that will never be fulfilled; they will drop through the Leagues, eventually simply fading away.

See ya Pompey; we will NEVER play you again.

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Re: Generic clubs in financial crisis Thread

by blindedbythelights » 18 May 2012 19:02

wow @ finerain

don't think i've ever seen a posters taken apart and shat on like that before on here. He'll prolly come back and claim he was trolling

its his only hope really :|

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Re: Generic clubs in financial crisis Thread

by FiNeRaIn » 18 May 2012 21:01

Utter nonsense, got tired of replying to about 4 people at once especially when they weren't reading each others posts its beyond frustrating.

My final thoughts. Should Rangers be made accountable for their over-spending? Yes, however there are ways to go about it and appropriate measures to be taken. Given the likelihood that most of the playing staff ( the one's who haven't left already) will be leaving..then its ridiculous to ban the club from brining in cheap replacements proving that the money is actually there if the club is correctly taken over. Points deductions...fine, some form of transfer limitation...fine, year long ban? Silly. A lot of Rangers fans knew and didn't want whyte coming in but were powerless to prevent it. The SFA should have found out he was a previously disqualified crook and prevented that, they are also accountable as they are supposed to protect clubs.

To address the overspending from the murray years, he funded a lot of that with his own pocket like madejski has with a lot of Reading transfers, its only within recent years that the club has spent beyond its means and not been paying the tax/loans they should have. There should be some sensible repercussions not just from this but for clubs in general. In my opinion they should have to prove their financial means to any governing body to prove they can afford the type of signings they are trying to make and prove exactly where the money is coming from.

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Re: Generic clubs in financial crisis Thread

by PieEater » 19 May 2012 07:42

Mr Angry His ONLY motivation is to keep Pompey afloat otherwise he loses his "£19M debt" that Portsmouth FC owe him; he won't be doing any further investment in the club, won't think it neccesary to spend any more money on new players other than what is absolutely neccesary, and will be trying, from Day 1, to sell it on to any mug - sorry, investor - with money willing to take it on so he can get his cash. That isn't a long lerm, or even medium term, business plan, and under this guy Pompey are simply a dead man walking.

They are going to die the death of a thousand wasted dreams and of never-ending hope that will never be fulfilled; they will drop through the Leagues, eventually simply fading away.

See ya Pompey; we will NEVER play you again.


Optimisitically he may carry on "investing", whilst he lines up another mug to buy the club. More realistically he'll run the club on a shoestring, pocket the parachute payments, screw the creditors then cut his losses and fold the club in a couple of years.

The % of the CVA will be interesting to hear next week. I'd be surprised if it's more that 5p, down from the original 20p. Surely that's worth some sort of points deduction.

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Re: Generic clubs in financial crisis Thread

by Mr Angry » 19 May 2012 08:16

The other thing with Chainrai - how the hell will he get through the Football League re-vamped fit & proper tests??

There is speculation that it will be done and dusted in 6 weeks! How does that work? Even undiscovered tribes in Papua New Guinea can see he is as dodgy as oxf*rd as all Pompey's owners seem to be, and yet there never seems to be any doubt as to whether they can buy the club.....

And yet we have a proposed new owner that takes 4 months (and counting) before its ratified.

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Re: Generic clubs in financial crisis Thread

by Mr Angry » 19 May 2012 08:17

PieEater
Optimisitically he may carry on "investing", whilst he lines up another mug to buy the club. More realistically he'll run the club on a shoestring, pocket the parachute payments, screw the creditors then cut his losses and fold the club in a couple of years.

The % of the CVA will be interesting to hear next week. I'd be surprised if it's more that 5p, down from the original 20p. Surely that's worth some sort of points deduction.


Haven't ALL the parachute payments already been ring-fenced to pay off football debts?

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Re: Generic clubs in financial crisis Thread

by PieEater » 19 May 2012 08:20

Allegedly the previous parachute payments went direct to Gaydamak. The two remaining have not or rather cannot be allocated or ring fenced for any specific debt by the PL/FL, at least according to PST. So in my mind that means Gaydamak or Chainrai well get them.

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