Despite pouring almost a quarter of a billion into the Club, Mel is still said to be worth between £500M and £600M. We are in debt and, according to that article in the Fail, we will rack up another £60M of debt in the next 12 months.
About the only way Mel could pass the club on would be for him to write off the debt and sell it for £1. To whom would he sell it though?
Here's an idea. A lot of continental clubs are just that. Clubs, with members. The members own the club. They appoint a committee and employ experts to run the club. Mel could make himself the most popular Derby fan ever if he were to write the debt off and sell DCFC to the Supporters Club (or a similar entity) for a quid. Everybody who wished to could be a member of the club and get to vote on who sits on the committee and makes decisions on their behalf. The members ensure the club doesn't overspend. KNVB rules don't allow overspending in Dutch football. Each year every team has to submit their budget for the coming season. Forecast expenditure may not exceed the expected income. If the figures don't add up or the KNVB think you're being overly enthusiastic about income and/or very conservative on outgoings you have to submit a new budget. If you still don't convince them you don't get a licence to play that season. There is a myriad of things that can go awry in a season and clubs can end up making a loss. No great problem. Your next season's budget is put together as per usual but you do have to also submit a believable and verifiable plan on how you are going to pay the debt off.
Being a club, owned and run by the members works well for Bayern Munich.......
It's a lovely idea, but been done here by my very own shower. We couldn't compete as our turnover isn't big enough. those same committee members who had paid a quid, took thousands to give that share up.
Like many clubs in England, you have to big commercially or have a very rich owner prepared to take the "hit"
Bayern had a turnover of 750 M euros in 2019. Even though the chairman was dodgy lol
Uli Hoeness, Bayern Munich’s president who revolutionised German football management but was also jailed for tax evasion, stepped down on Friday, handing over the reins of the country’s most successful club to former Adidas CEO Herbert Hainer.
Caught a discussion on Radio 5 early this afternoon about the dire financial situation we face. Sounds grim.
You’ll forgive me if I take more notice of the BBC than Collymore.
Tbh I only caught some of it and I’m not entirely sure who was talking. It may even have just been recycled Daily Mail b0llux but it didn’t sound good. The jist seemed to be that it wouldn’t save Wycombe but would mean we’d start next season with a points deduction and a transfer embargo.
Well Jon Percy has just tweeted, that DCFC will enter administration next week.
MM has tried to sell everywhere, but no deals can be made.
Colleymore has mates inside football, like most ex footballers. The BBC are always late telling you anything.
Bearing in mind he deleted it very quickly? Jon Percy tweeted something similar about the EFL trial. DCFC lawyers threatened him and denied it. When what he said came out, only silence followed.
So, with no buyer, massive debts and points coming off left right and centre. It is dire.
Maybe even the Daily Mail isn't far off after all, shock/horror.