Interesting piece in the DM today. Martin Samuel usually knows what he's talking about so no smoke without fire?
https://www.dailymail.co.uk/sport/fo...s-dilemma.html
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Interesting piece in the DM today. Martin Samuel usually knows what he's talking about so no smoke without fire?
https://www.dailymail.co.uk/sport/fo...s-dilemma.html
I imagine this is the last resort but it shows that this can’t go on too long or every business will collapse.
Hopefully..Originally Posted by Croesy Blue
It would be a very abnormal situation to get all 22 clubs to have absolute trust in each other too!
It wont happen but just shows how inflated we are paying players in England this is second tier of football and you are having squad players earning million pounds a year.
League needs to be more strict on finances
This
It's probably too late for the League to be strict on finances. The supposition was that TV money would dry up and cause a huge pop in the football bubble. But, this is the pin that could burst the bubble.
Yea if it went on too long then every club would be forced into it anyway.
At the moment I'm hoping the players across the board can agree wage cuts and that would buy some time before anything drastic has to happen.
Of course a lot of clubs at our level run at huge losses during the season, let alone when no real income is coming in.
I think moving forward there has to be more in place to protect clubs from their own ambissions. To keep the party going you have to be in the PL every year for the advertising and TV money. Even Swanseas extended stay there isn't enough, with very little to show for it in terms of infrastructure or balance sheet.
Sounds like a threat rather than a well-thought out plan.
How would these clubs have survived if we had a long hard winter with lots of postponements - like the one in 1963 when some clubs went months without a game?
https://www.footballwhispers.com/blo...ll-was-on-ice/
I hope this is the kick up the arse football needs. Running clubs at losses to pay players over the odds has become the norm. Surely this shows how unsustainable it is.
Indeed.
Keith Morgan will have a better understanding of this, given his background as an IP and football finances, but I'd have thought placing the club into administration would require the administrator to fulfil their role and get best vale for creditors, which doesn't always mean a pre-pack going the way football would hope for.
And, who is to say that the owners would want to buy the football club back? Seems a bit unfair for football owners (some wealthy) to unburden all their debts onto small businesses - then to buy back a healthier football club. If all the clubs said "we are capping all the players wages to £800 a week until football resumes" - what are the players going to do? Player power is killing the game, they actually have no power while there are no games.
What would that achieve? All it does is put off payment and clubs will be forced to make wage payments in one huge lump
Not at all. I am not talking about deferring players wages. I am saying that the clubs, en masse, should say they are paying each player no more than £800 a week. If the player doesn't like it, what can he do? There's no football being played.
When football resumes, they can go back to earning extortionate amounts of money for 2 hours work a day.
The player is under contract and most of them affiliated to the PFA. I'd say that there's a fair bit they can do.
Leave the club, sue the club.
Do you not see the massive flaw in breaching legally binding contracts en masse? Your plan is a lawyer's wet dreams and Christmases rolled into one
Correct.
The Administrator is effectively an officer of the court and has legal responsibilities above and beyond any wishes the football clubs or EFL might have and responsibilities as you say are to maximise the debt recovery for creditors not the clubs or their owners.
There is also a great risk here that clubs that have been very badly run and accumulated big debts not related to the CV19 impact would abuse the process by using it as a convenient “get out” for their actions . They would still have to be investigated for breaches of the Profitability and Sustainability (financial fair play) rules - how much loss caused by CV19 shutdown and how much by other trading results? If the EFL were to loosen those rules as well then there would be no incentive to run the clubs properly and sustainably
We had £61 million parachute payment and £30 odd million next season for ****s sake.
No go to court and get paid the full amount of the contract they’ve agreed.
That would be another PR disaster.
Ok there are a minority who receive astronomical money but what about the run of the mill top flight player? Compared to the normal working man he’s on a fortune but like the normal working man does his financial commitments reflect his earnings. Many people live to the max, take on a mortgage up to the hilt as a young man, hoping that the repayments will ease in future years, with natural wage increases. A mid 20s footballer is at his peak earning potential then, if he takes a massive pay cut what happens to his repayments and outgoings? He could end up in a financial nightmare. I agree wages are obscene but I’m trying to take a look at it from another point of view.
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