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Another club in financial trouble


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Never heard of players addressing the Chairman / Owner in such a way before, is this the first time it has happened?  They certainly say some pretty damning things about the chairman, implying that he is basically inhuman - I.E has no care for them or their families.  Sounds pretty extreme.

If the owner is treating Bury with such callousness, it makes you wonder why these wealthy people buy these clubs if they are going to watch it fall into ruins around them?  What the hell is the point?

 

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One of the eventual consequences of the last 25-30 years IMO. Having said that, this kind of thing has happened before- I remember a spate of clubs went into administration in the late 1990s- seems worse now though.

Would suggest these 2 are the tip of the iceberg tbh.

Edited by Mr Popodopolous
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2 hours ago, reddogkev said:

Never heard of players addressing the Chairman / Owner in such a way before, is this the first time it has happened?  They certainly say some pretty damning things about the chairman, implying that he is basically inhuman - I.E has no care for them or their families.  Sounds pretty extreme.

If the owner is treating Bury with such callousness, it makes you wonder why these wealthy people buy these clubs if they are going to watch it fall into ruins around them?  What the hell is the point?

 

Perhaps hoping they can engineer them going out of business leaving the owner with a valuable development site?

This is only my opinion though and I`m not suggesting that anything of this nature has gone on.

Edited by Red Right Hand
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3 hours ago, reddogkev said:

Never heard of players addressing the Chairman / Owner in such a way before, is this the first time it has happened?  They certainly say some pretty damning things about the chairman, implying that he is basically inhuman - I.E has no care for them or their families.  Sounds pretty extreme.

If the owner is treating Bury with such callousness, it makes you wonder why these wealthy people buy these clubs if they are going to watch it fall into ruins around them?  What the hell is the point?

 

Sounds like the chairman would fit in well as a politician. 

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There are rather a lot.  People have been saying that clubs cannot go on making the level of losses that they do for the last twenty years; well it looks like eventually they are right.

Edit: I make that eight having temporary or ongoing problems in paying wages this year.

Morecambe, Bolton, Bury, Oldham, Macclesfield, Oxford, Reading, Southend.

 

Quote

 

Let’s begin our journey of 2018/19 Football League ignominy in the north west, and work down from there. In November, Morecambe confirmed that players and staff had been paid late after the club’s overdraft had reached its limit. Down the road at Bolton, a far more pressing situation. Ken Anderson’s reign of woe may finally be ending after months of financial turmoil, but administration is the next step. And that’s the positive spin.

Onto Bury, six miles away, where promotion to League One has been achieved in controversial circumstances. The club required help from the PFA to pay the players their March wages after salary payments were delayed. Bury’s season has been beset by winding-up petitions and potential financial implosion.

Then to Oldham Athletic and Macclesfield Town, two more clubs in Manchester satellite towns who have been late paying their staff this season. At Oldham, players threatened strike action and then Paul Scholes resigned as manager over alleged owner interference. Sol Campbell inspired a sensational survival from relegation at Macclesfield, but reports suggest that players were paid late four times this season. Three days after confirming their League Two safety, the club were up in the High Court again.

We move south. At Oxford United, players did not receive their March wages until days later and the club was served a winding-up petition from the owners of the stadium over a late rent payment. Twenty-five miles down the A34, Reading manager Jose Gomes described the players not receiving their full monthly salaries as a “small mistake”, but the club saw their revenue halved in the last financial year and debts stand at £61m at the last count.

Finally to Southend United. Last week, the club confirmed that all outstanding late payments to their players ahead of their final game of the season had finally been made. It was hardly the perfect motivation for a team only outside the relegation zone on goal difference, but a late winner against Sunderland kept them in League One. Will that precious goal also keep the wolf from the financial door?

 

 

 

 

 

https://www.football365.com/news/unfit-and-improper-the-calamity-of-football-league-owners

Edited by Eddie Hitler
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34 minutes ago, Yellow&Blue&Red said:

Reading are also in trouble as per this tweet thread from Swiss ramble. What the thread doesn't mention is that they also paid players late at least once this year.

The Accrington Stanley chairman has tweeted to the effect that he knows of at least half a dozen clubs that aren't paying staff reliably.

It's a mess!

I thought Reading had a fairly rich owner so I'm surprised to see them in that list!

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2 minutes ago, Mr Popodopolous said:

I thought Reading had a fairly rich owner so I'm surprised to see them in that list!

Not trying to sideswipe the thread as they already have their own but Rovers have rich owners (genuinely, even if not quite at the level originally trumpeted); Robert Maxwell was rich and it didn't do Oxford and Reading much good.  Mike Ashley's very wealthy but not spending much of it on Newcastle.

You need owners who are both rich and are happy to use thar wealth to underwrite any losses made: Roman Abrahamovich back in the day and our own Lansdown family today.

 

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3 minutes ago, Eddie Hitler said:

Not trying to sideswipe the thread as they already have their own but Rovers have rich owners (genuinely, even if not quite at the level originally trumpeted); Robert Maxwell was rich and it didn't do Oxford and Reading much good.  Mike Ashley's very wealthy but not spending much of it on Newcastle.

You need owners who are both rich and are happy to use thar wealth to underwrite any losses made: Roman Abrahamovich back in the day and our own Lansdown family today.

 

True that- I just, and perhaps take it as red that those in football who have wealthy owners- especially in the top 2 divisions will just have their losses underwritten as that seems to be standard practice in the Championship especially.

Perhaps problems getting capital out given they are Chinese?

Edited by Mr Popodopolous
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9 minutes ago, Mr Popodopolous said:

True that- I just, and perhaps take it as red that those in football who have wealthy owners- especially in the top 2 divisions will just have their losses underwritten as that seems to be standard practice in the Championship especially.

Perhaps problems getting capital out given they are Chinese?

Yes maybe excatly that, I heard that they were cracking down on this with rich people smuggling assets out the country because of the restrictions upon outward capital movement.

Though the effect upon the club of having the money and being unable to give it to the club through capital controls is the same as having the money and being unwilling to give it to the club.

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1 hour ago, Yellow&Blue&Red said:

Reading are also in trouble as per this tweet thread from Swiss ramble. What the thread doesn't mention is that they also paid players late at least once this year.

The Accrington Stanley chairman has tweeted to the effect that he knows of at least half a dozen clubs that aren't paying staff reliably.

It's a mess!

Looking at the figures for City on those Swiss Ramble charts - shows exactly why we sold Reid and Bryan last year, Kelly this year, and why we will continue to sell. Personally I would prefer that than have any more seasons of zero player sales revenues and 25 million pound losses.

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1 hour ago, Eddie Hitler said:

Edit: I make that eight having temporary or ongoing problems in paying wages this year.

Morecambe, Bolton, Bury, Oldham, Macclesfield, Oxford, Reading, Southend.

 

 

https://www.football365.com/news/unfit-and-improper-the-calamity-of-football-league-owners

Three clubs very close, especially Bury, to Manchester. Could part of the problem be people, especially youngsters,  in those towns swallowing the hype and watching their football at City or United?

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8 minutes ago, 22A said:

Three clubs very close, especially Bury, to Manchester. Could part of the problem be people, especially youngsters,  in those towns swallowing the hype and watching their football at City or United?

Bury have been one of the league's poorest teams since time immemorial

Just a coincidence

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8 minutes ago, 22A said:

Three clubs very close, especially Bury, to Manchester. Could part of the problem be people, especially youngsters,  in those towns swallowing the hype and watching their football at City or United?

Macclesfield too, to an extent.

Ken Anderson being as he is also a key part of Bolton but I agree.

Not just the local thing now though- national thing, 'fans' from all over shunning local clubs for big 6. Ticket prices and the knock on effect down the League one aspect- the ubiquitousness of these mega clubs, especially the 2 Manchester, Arsenal, Liverpool and increasingly Chelsea, watching via TV, priced out- put the 2 together and a lot of clubs have an increasing issue.

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10 minutes ago, 22A said:

Three clubs very close, especially Bury, to Manchester. Could part of the problem be people, especially youngsters,  in those towns swallowing the hype and watching their football at City or United?

Or watching it on the telly :(

 

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49 minutes ago, Pugofwar said:

Looking at the figures for City on those Swiss Ramble charts - shows exactly why we sold Reid and Bryan last year, Kelly this year, and why we will continue to sell. Personally I would prefer that than have any more seasons of zero player sales revenues and 25 million pound losses.

Now that is 2 angles, goes 2 ways.

We sold for FFP but also cash- personally I'd favour an approach of pushing towards the FFP limits- provided SL is happy to go with shortfalls, e.g. said player sales to help to finance a forward push.

True sustainability or breakeven at this level or any period of time? Maybe give or take one or 2 seasons, is a pipe dream- aim for any more and you will go backwards quickly, and eventually end up in League One.

Unlike other divisions, this one has very high running costs but a very low TV deal. Big mismatch- to me it is merely a case of limiting losses rather than breaking even as a best case scenario, certainly to maintain some semblance of competitiveness on the pitch!

Edited by Mr Popodopolous
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On a positive note, only four clubs had higher commercial income than City and only seven had a higher revenue stream after parachute payments were stripped out. Mid-table in terms of match day income which equates to the average attendance. The debt is largely the stadium cost.

Heading in the right direction it seems.

 

 

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It makes you realise that clubs have to cut their cloth accordingly and pay a reasonable salary that they can afford to their players, not some fancy, fantasy figure as they try to attract player's out of their natural position, or who are otherwise far too greedy.

The money a club generates at their respective level should always be able cover their salaries, in fact, I'd suggest that a club's budget should be something like 60% of income for staff salary, and 40% for other expenses.

There should be absolutely nothing wrong with a professional player at a lower level being paid approx. £600 per week, after all, their job is a dream come true and is something most people can only imagine - not just the salary, but the chance to play football at a high standard on almost immaculate pitches.  If I was a professional player, and the normal salary for a top player was approx. £5000 per week, I would be very happy with my earnings.

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