Generic clubs in financial crisis Thread

[Sutekh]

Sheffield United have joined Reading and Cardiff under a transfer embargo.

[Franchise FC]

Sheffield United have joined Reading and Cardiff under a transfer embargo.

Where did that come from ?
Can’t remember seeing much in the lead up

[Sutekh]

Sheffield United have joined Reading and Cardiff under a transfer embargo.

Where did that come from ?
Can’t remember seeing much in the lead up

It’s due to unpaid transfer instalments, doesn’t seem to be too much known about the specifics currently but it is for breaching regulation 52.2.3 which states "If a Club is in default of payments due to another Club (or club) under a transfer or compensation agreement, the Club shall be subject to a registration embargo such that it shall not be permitted to register any Player with that Club without the prior written consent of The League until such time as the agreement is honoured."

[Franchise FC]

Sheffield United have joined Reading and Cardiff under a transfer embargo.

Where did that come from ?
Can’t remember seeing much in the lead up

It’s due to unpaid transfer instalments, doesn’t seem to be too much known about the specifics currently but it is for breaching regulation 52.2.3 which states "If a Club is in default of payments due to another Club (or club) under a transfer or compensation agreement, the Club shall be subject to a registration embargo such that it shall not be permitted to register any Player with that Club without the prior written consent of The League until such time as the agreement is honoured."

Makes sense that there’s not been anything in the lead up if it’s a recent non-payment

[6ft Kerplunk]

Need to bring a new rule in that you can't get promoted if you've failed FFP or are under a transfer embargo.

[AthleticoSpizz]

Need to bring a new rule in that you can't get promoted if you've failed FFP or are under a transfer embargo.

better still and more fun, let them be promoted with a full transfer embargo.

[Franchise FC]

Need to bring a new rule in that you can't get promoted if you've failed FFP or are under a transfer embargo.

better still and more fun, let them be promoted with a full transfer embargo.

Derby would be delighted with that

[Sutekh]

Issues still ongoing at Southend United who face their twice adjourned winding up order on Wednesday. They have been under an embargo since September and owe £1.4m to HMRC while the players haven’t been paid since December and other staff not paid since November. In addition St John’s Ambulance are no longer covering games. Chairman though is continuing assure fans the club will not be wound up and is continuing to seek a move to a new home at Fossets Farm.

Little bits of background here

https://www.youtube.com/watch?v=xRtPOQhVzVM
https://m.youtube.com/watch?v=N18VgwdEKVo

[Brum Royal]

Interesting summary of the state of Championship clubs who have so far published their accounts for this season

https://www.football365.com/news/opinion-championship-clubs-struggling-financially-not-only-issue

[Winston Biscuit]

Wigan not paid players again. Already paid them late 3 times this season and they have a suspended 3 point deduction in place from the last time

[Sutekh]

Interesting summary of the state of Championship clubs who have so far published their accounts for this season

https://www.football365.com/news/opinion-championship-clubs-struggling-financially-not-only-issue

QPR: The club lost £24m, not that far short of half a million pounds a week, with almost £90m still owed in various loans and player transfer instalments, as well as an outstanding settlement over Financial Fair Play breaches. An increased playing staff accounted for a 10% increase in wage costs. And all these losses came despite the club increasing their turnover by 7% on the previous year.

One wonders how they didn't lose £15m in the two/three other seasons that are counted towards the £39m allowed. Seems odd that a club can owe as much a £90m footballing debt yet not be immediately "done" for being in breach as that could be £30m per season for the next three years before even today's operating costs (that saw them lose £24m in a season) are added and those operating costs can only go up!

[Royals and Racers]

A report states that Sheffield Utd have introduced extraordinary cost-cutting measures to avoid going into administration.

[Sutekh]

A report states that Sheffield Utd have introduced extraordinary cost-cutting measures to avoid going into administration.

https://www.dailymail.co.uk/sport/footb ... ation.html

[Franchise FC]

I haven’t read it but it’s the Daily Mail

[Winston Biscuit]

Breaking: Premier League refer Everton to an independent commission over alleged breach of Profitability & Sustainability rules (FFP) for period ending with the 2021/22 season

[PATRIQT]

They were thought to be close to a points deduction last season but somehow managed to cook the books to buy them some time.

Let's see if this "independent commission" have the balls to punish accordingly.

[From Despair To Where?]

https://salarysport.com/football/premier-league/everton-f.c./

There's some not very good players on big wages.

[Sutekh]

https://salarysport.com/football/premier-league/everton-f.c./

There's some not very good players on big wages.

They deserve to be done for paying what they’re paying for some of those!

[paultheroyal]

£43k a week for a back up keeper is utterly ridiculous money to pay out.

[From Despair To Where?]

Thats almost double Brighton's wagebill (maybe not a fair comparison) but 30% more than most of the clubs sniffing around the bottom of the table (Leeds, Southampton, Crystal Palace, Wolves). It on par with Newcastle and Arsenal.

Chelsea and Man Utd top the list (circa £215m) followed by Liverpool and Man City (circa £185m) then Spurs a next at £125m.

The other clubs that top £100m are Leicester and Aston Villa Vardy's still on £160k a week.