Watch about three or four go into admin. We think job done. Our form tails off as a result and we go down anyway.
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Watch about three or four go into admin. We think job done. Our form tails off as a result and we go down anyway.
A key factor in the Wigan administration was the new owners unwillingness to keep the club going with loans or using their own money. They just sed "Feq this forra game of soldiers".
I have been pondering which other club(s) in the Championship have owners who adopt this policy and have publically stated it ?
It reminds me of the financial crash in 2008 , it only took one financial institution to bring practically the whole lot down with them .Quote:
Originally Posted by SBRed48
In many ways it's a similar situation with the amount of business getting done between clubs , staggered payments on transfer fees , tv money getting spent upfront before knowing which league you are going to be in further down the road .
If Wigan for instance don't pay the remainder on the fees for Moore and Lowe it could be enough to take ourselves and Pompey down , which leaves the clubs we still owe money to collapse too .
It took the state to have to step in and save the finance industry such was the combined debt within it , that won't be happening in football .
It only takes one unprecedented situation to arrive and hey presto it collapses .
We've been saying it for years that eventually the bubble would burst and it looks like it's arrived .
(Don't forget the global financial collapse of 2008 was the fault of the Labour Party.)
The major move needed now to save several Third and Fourth Division clubs is a significant redistribution of wealth from the TV money with their share increasing by about five times with the Premiership clubs taking less.
Will it happen ? No.
Lower league clubs are like farmers. They claim to have no money but a few are run by greedy businessman that don't want to part with their cash so cry poverty. Find me a football club owner that isn't a millionaire in their own right.Quote:
Originally Posted by SBRed48
Quote:
Originally Posted by Ponte_Steve24
Regarding chairmen that may be the case Steve but what is a million quid these days in football? A league 2 team may have a squad of 20 players on an average of £1000 a week for example. That equates to 1 million a year in wages alone. With the loss of gate revenue during the crisis and clubs in that division receiving hardly any TV money then you can imagine how much the expenditure exceeds the income. I can seriously see a few clubs going out of business in the next few months because until a vaccine is invented for covid-19 then supporters will not be entering stadiums. That will absolutely cripple the small clubs. Bleak times ahead I'm affraid
Talk of Wigan owner's ( nubdi knos who they are ) involved in a betting scam in Indonesia , lumped plenty on Wigan being relegated ?
Makes thi wonder if this EFL board are fit for purpose as well as these overseas investors ?
# Free Bambo BLM !
Wigan have always lived beyond their means since Whelan took over. Always inevitable that they would end up like this.
At least Barnsley have got responsible owners B)
Whelans considering going back :s stop at ooham Dave , thas dun thy shift
Cap fits for this one nicely for you though. The difference is that our owners aren’t new, and we haven’t been spending more than we should. Had the owners spent massively and it still went Tyts up, then we could possibly have been in Wigan’s shoes...Quote:
Originally Posted by SBRed48
Remember the Morsy saga.......? Ever wondered WHY he went to Wigan?.........
Mmmmmmm .......Let me see. Maybe it was because he didn’t like the red shirts....... .... !!
Whatever charge we can throw at the owners, ( and I’m not a fan remember.....I don’t think we will be accusing them or ruining the club by paying money out THEY, or the club don’t have. We’ve worked within the rules.
If bent owners of the cheating clubs are exposed, then all well and good.
Let’s hope ours have indeed stuck to the rules.