Generic clubs in financial crisis Thread

[Silver Fox]

This is getting interesting

The Premier League is refusing to lift Portsmouth's player registration embargo until it is provided with legal documents confirming the club's claim that payments for Sulley Muntari's move from Udinese in 2007 have been rescheduled.

but now

Portsmouth's precarious financial position faces a further challenge after Udinese lodged a formal complaint with the Court of Arbitration for Sport to try to retrieve up to £4 million in outstanding fees they are owed for the transfer of Sulley Muntari.

I really think they won't make the end of the season.

this fills me with a warm goey feelin' inside

Ed De Goey?

[Dirk Gently]

Cardiff City shareholders force an EGM to find out just WTF is going on with the finances there, just 3 weeks away from a winding up order.

http://www.walesonline.co.uk/footballnation/football-news/2010/01/21/shareholders-of-cardiff-city-force-meeting-with-the-club-91466-25648816/

[Big Ern]

Cardiff City shareholders force an EGM to find out just WTF is going on with the finances there 3 weeks away from , justa winding up order.

If this happens, then I will believe there is a God

[T.R.O.L.I.]

So West Ham, despite having a 110M debt hanging over them, are prepared to spend 100K a week on wages for an un-named "special player":

http://news.bbc.co.uk/sport1/hi/footbal ... 473694.stm

Another case of mortgaging yourself to the hilt in order to stay on the PL gravy train?

[cmonurz]

Any guesses who it is? Has played at the top level, and can command £100k a week on a free transfer? Edgar Davids?

[gazzer, loyal royal]

Van Nistelrooy

[T.R.O.L.I.]

Van Nistelrooy

That's the rumour I'd heard - and is also the name being touted around the BBC website:

Sullivan would not name the player but Real Madrid striker Ruud van Nistelrooy has been linked with the club.

Tottenham and Stoke have stated their interest in the 33-year-old Dutchman, who joined the Spanish giants from Manchester United in 2006.

"We've offered £100,000-a-week to a player today and we are still not sure we are going to get him," Sullivan told BBC Radio 5 live. "That was a very special player.

[TFF]

Prolly already turned them down.

Just a bit of "look at how much we were prepared to spend" from the new owners.

[Pseud O'Nym]

Any guesses who it is? Has played at the top level, and can command £100k a week on a free transfer? Edgar Davids?

<mode ="OldJoke">Edgar Davids has gone to West Ham, he should have gone to SpecSavers.</mode>

[Barry the bird boggler]

Prolly already turned them down.

Just a bit of "look at how much we were prepared to spend" from the new owners.

One of whom recently stated in the media about the parlous state of finances of clubs in the Premiership, nice to see examples being set there then.

[Comfortably Numb]

Any guesses who it is? Has played at the top level, and can command £100k a week on a free transfer? Edgar Davids?

<mode ="OldJoke">Edgar Davids has gone to West Ham, he should have gone to SpecSavers.</mode>

horse face confirmed

[soggy biscuit]

LOLz @ spending a couple of weeks talking up the state of football finances before taking over a club with massive debt and offering an injury prone 33 year old £100,000 a week.

[readingbedding]

It's a gamble.
If they stay up due to his goals and he's on a Contract till end of season to do so...

[Comfortably Numb]

It's a gamble.
If they stay up due to his goals and he's on a Contract till end of season to do so...

agree, it could cost them around £2.5m to stay up? where's the risk

[soggy biscuit]

It's a gamble.
If they stay up due to his goals and he's on a Contract till end of season to do so...

agree, it could cost them around £2.5m to stay up? where's the risk

Person X recently lost £5000 playing cards, he was offered a chance to buy his way back in but simply could not afford it, someone offered to lend him £2000 to continue playing. Where's the risk?

[Comfortably Numb]

It's a gamble.
If they stay up due to his goals and he's on a Contract till end of season to do so...

agree, it could cost them around £2.5m to stay up? where's the risk

Person X recently lost £5000 playing cards, he was offered a chance to buy his way back in but simply could not afford it, someone offered to lend him £2000 to continue playing. Where's the risk?

Mr Matthews, is that you

these two have bought the club with one eye on managing the debt, and the other on taking it forwards on a stricter budget than the clubs been ran on in recent years. if they are serious about this offer, theyve obviously budgeted for it. yes 100k is a lot a week, but its still only £2.5m until the end of the season. these two ran birmingham very well

[Dirk Gently]

It's an all or nothing gamble. His goals might keep them up - or he might break a leg in his first match.

While this probably does increase their chances of staying up, there's no guarantee of that by a long way - and they're also massively increasing the impact to the club if they don't stay up.

The thinking is probably already "if we go down there's no way we'll be able to avoid administration" - so what difference does it make to them if they go into administration owing creditors a few million more?

Only in football.....

[Baines]

I expect that West Ham have fond memories over the Hartson & Kitson gamble which kept them up...

[The whole year inn]

..all this Pompey talk is too good to be true. Someone will come in at the death and rescue them.

Either that or the Premier League will bottle it

[Wax Jacket]

Only in football.....

a business like no other

a Davids/Parker midfield is pretty decent - this should work because, luckily for them, Wolves, Bolton, Burnley and Pompey are all in the PL