MisterC 12,263 Posted October 7, 2008 Share Posted October 7, 2008 From the grauniad saying that drastic action may have to be taken as the debts of English clubs reaches a staggering amount. All bubbles burst in economic terms and looking at the situation English football clubs are in it is clear there is a great deal vulnerabilty especially in this economic climate. http://www.guardian.co.uk/football/2008/oc...s.premierleague Link to post Share on other sites More sharing options...
Jelle1880 225 Posted October 7, 2008 Share Posted October 7, 2008 I hope the Premier League goes belly up, the quicker the better. Link to post Share on other sites More sharing options...
MisterC 12,263 Posted October 7, 2008 Author Share Posted October 7, 2008 I hope the Premier League goes belly up, the quicker the better. Totally theres nothing better than those bigging themselves up and calling themselves the best in the world falling flat on their faces... Link to post Share on other sites More sharing options...
MisterC 12,263 Posted October 7, 2008 Author Share Posted October 7, 2008 And heres another article I consider worth reading on this subject... http://www.guardian.co.uk/sport/blog/2008/...e.westhamunited Link to post Share on other sites More sharing options...
Jasper 155 Posted October 7, 2008 Share Posted October 7, 2008 I hope the Premier League goes belly up, the quicker the better. I agree Link to post Share on other sites More sharing options...
SpursGer 0 Posted October 7, 2008 Share Posted October 7, 2008 Cheers guys, real fucking sweet there Link to post Share on other sites More sharing options...
disgruntled_bear 157 Posted October 7, 2008 Share Posted October 7, 2008 FA chief fears '£3bn' club debts Lord Triesman on debt in football By James Munro, Chris Whyatt & David Ornstein BBC Sport at Stamford Bridge Football Association chairman Lord Triesman believes the global credit crisis could pose a "terrible danger" to clubs dealing with spiralling debts. Against the backdrop of such a volatile financial climate, Triesman estimates English clubs owe an estimated £3bn. He told BBC Sport: "They're beginning to see the edge of the hurricane - the art is to get out of the path of it." Premier League chief executive Richard Scudamore rejected Triesman's concerns, arguing clubs' debts were manageable. A worldwide banking crisis has led to a collapse in shares, fears of a recession and increasing costs for clubs having to repay or maintain huge debts - with Liverpool, Chelsea and Manchester United believed to account for a third of that £3bn debt. At the weekend Liverpool chief executive Rick Parry admitted the club's planned £350m new stadium had been put on hold due to the current financial crisis, while West Ham are battling claims Iceland's second-biggest bank Landsbanki going into receivership will have a negative impact on the club. The FA themselves know about all these things because they are one of the most indebted organisations in the world Premier League chief executive Richard Scudamore Wall Street investment bank Lehman Brothers is another high-profile casualty of the crisis and Triesman fears a major club could suffer a similar fate. "Did I have a genuine fear that Lehman Brothers would go bust?' I'd say, 'No I didn't'," said Triesman at the Leaders in Football conference at Stamford Bridge. "What I know is we are in a very much more volatile position in which debt is not only a problem in terms of its volume, it's a problem because those who own the debt are themselves now often in serious problems. Your fate isn't in your own hands. "I don't think anybody who is rational can look around this environment we are in and think they are immune. "Football is obviously carrying a pretty large volume of debt. People will be making business judgements about whether it is sustainable or not, but it is carrying quite a large volume of debt. "Those debts will either have to be paid or there will have to be a re-financing deal, and re-financing deals inevitably mean that you package up debt in smaller blocks as people try to minimise the risk. "What we do know about loads of events in the credit crunch is that it becomes harder and harder to track who owns the debt or these packages of debt and how secure they are. "We now have a position where it is very hard to track things. It is not transparent enough and we don't know, if we are able to track it, if the debt is held by people who are financially secure or not. "And if all of these things go wrong I suppose it is not inconceivable that a great club, or a very small club, will come under pressures it has not seen before." 606: DEBATE How big a problem is debt in football Speaking later at the conference, Scudamore defended clubs' debt levels and took a swipe at the FA's own financial affairs. "What's important is the level of indebtedness is proportionate to your income," said Scudamore. "The last figures I saw was that indebtedness in professional football in this country was running at about £2.5-£2.6bn, which is about where current annual revenues are in football. So our ratio is about 1:1. "The FA themselves know about all these things because they are one of the most indebted organisations in the world. Their Wembley debt is about £350m and they have a turnover of about £300m. "Our clubs are all heavily regulated but they've also got directors and owners who will assess the level of risk of their overall debt. This is at the top of clubs agendas and I think they are managing it responsibly. "The 92 names today are very similar to the 92 names of yesterday. They are very sustainable brands and that's the most important thing." The BBC are running a story now, hope it does go belly up Link to post Share on other sites More sharing options...
Coopermania 1 Posted October 7, 2008 Share Posted October 7, 2008 Debt has pretty much always existed in football, all the banks need to see is a sustainable repayment plan and they are happy, aren't they ? However, how some clubs survive is beyond me. I don't know enough about the subject to go into detail to be honest. Link to post Share on other sites More sharing options...
BLUEDIGNITY 33,638 Posted October 7, 2008 Share Posted October 7, 2008 If we as a support boycotted away games for one season in the SPL it would put at least 4 clubs out of business, and down south is no different. It can't be viable if the stadiums are only a quarter full no matter what they are gettin off the telly, the directors will be creaming that money anyways ! Link to post Share on other sites More sharing options...
FlippinEck 3,702 Posted October 7, 2008 Share Posted October 7, 2008 To those laughing at the premierships expense, do you not think our club could be in a current situation Link to post Share on other sites More sharing options...
WatfordRangers 0 Posted October 7, 2008 Share Posted October 7, 2008 Being a watford fan and only being in the premiership twice i can say that the hype around is has faded. before people would be jumping for joy to see anyone from the big 4 at there club, now its just another saturday afternoon. The championship is so much better, thats why it is the 4th most watched league in the world Link to post Share on other sites More sharing options...
BLUEDIGNITY 33,638 Posted October 7, 2008 Share Posted October 7, 2008 Being a watford fan and only being in the premiership twice i can say that the hype around is has faded. before people would be jumping for joy to see anyone from the big 4 at there club, now its just another saturday afternoon. The championship is so much better, thats why it is the 4th most watched league in the world Your spot on mate, my brother-in-law was at the Chelsea/Villa game at the weekend and was disappointed, said it was shite. Villa really bad could have been 10-0 rather than 2-0. Link to post Share on other sites More sharing options...
J-Maestro 11,026 Posted October 7, 2008 Share Posted October 7, 2008 Arsenal will have a field day if this happened, are they not well kept financially? Link to post Share on other sites More sharing options...
biotechnology 2 Posted October 8, 2008 Share Posted October 8, 2008 Arsenal will have a field day if this happened, are they not well kept financially? 260M in debt the last time I looked-Cant see it reducing much with the Stadia to pay for. Link to post Share on other sites More sharing options...
Thermopylae 15,286 Posted October 8, 2008 Share Posted October 8, 2008 The EPL has always been sailing close to the wind because their costs are so high although with the likes of the Dubai royal family coming into the game the whole thing may just continue to be sustainable Link to post Share on other sites More sharing options...
Coopermania 1 Posted October 8, 2008 Share Posted October 8, 2008 Being a watford fan and only being in the premiership twice i can say that the hype around is has faded. before people would be jumping for joy to see anyone from the big 4 at there club, now its just another saturday afternoon. The championship is so much better, thats why it is the 4th most watched league in the world I totally agree WR. Its a much more open league, a far more level playing field for all the clubs involved and in that way it has been a breath of fresh air. Plus it has a high standard of football. I tend not to watch the EPL, I would rather watch a Championship game to be honest. Link to post Share on other sites More sharing options...
biotechnology 2 Posted October 8, 2008 Share Posted October 8, 2008 EPL-You only have to look at the empty seats to see its lost its allure Link to post Share on other sites More sharing options...
J-Maestro 11,026 Posted October 8, 2008 Share Posted October 8, 2008 Thought Arsenal were year on year reducing the debt by quite a big margin, which is the reason they don't spend big. Link to post Share on other sites More sharing options...
SpursGer 0 Posted October 8, 2008 Share Posted October 8, 2008 EPL-You only have to look at the empty seats to see its lost its allure It's not long its allure. The prices have got stupid, that's all all. I pay £61 to sit in the East upper at Spurs, and it's a disgrace. When wage caps are brought in and ticket prices can come down as a result, then we may see every ground in the country full again week-in-week-out. Link to post Share on other sites More sharing options...
Coopermania 1 Posted October 8, 2008 Share Posted October 8, 2008 EPL-You only have to look at the empty seats to see its lost its allure It's not long its allure. The prices have got stupid, that's all all. I pay £61 to sit in the East upper at Spurs, and it's a disgrace. When wage caps are brought in and ticket prices can come down as a result, then we may see every ground in the country full again week-in-week-out. £61 ? Thats fucking crazy money Link to post Share on other sites More sharing options...
Jasper 155 Posted October 9, 2008 Share Posted October 9, 2008 EPL-You only have to look at the empty seats to see its lost its allure It's not long its allure. The prices have got stupid, that's all all. I pay £61 to sit in the East upper at Spurs, and it's a disgrace. When wage caps are brought in and ticket prices can come down as a result, then we may see every ground in the country full again week-in-week-out. "If". On both counts. Link to post Share on other sites More sharing options...
papaguy51 912 Posted October 9, 2008 Share Posted October 9, 2008 EPL-You only have to look at the empty seats to see its lost its allure It's not long its allure. The prices have got stupid, that's all all. I pay £61 to sit in the East upper at Spurs, and it's a disgrace. When wage caps are brought in and ticket prices can come down as a result, then we may see every ground in the country full again week-in-week-out. £61 ? Thats fucking crazy money Even the 'touts' are making a bomb. My last Arsenal ticket cost me £100, brilliant seat though. Link to post Share on other sites More sharing options...
Jasper 155 Posted October 9, 2008 Share Posted October 9, 2008 My last Arsenal ticket cost me £100, brilliant seat though. Thats what you get for watching pish :harhar: Link to post Share on other sites More sharing options...
papaguy51 912 Posted October 9, 2008 Share Posted October 9, 2008 My last Arsenal ticket cost me £100, brilliant seat though. Thats what you get for watching pish :harhar: Aye, terrible football Link to post Share on other sites More sharing options...
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