Bury likely to do one ...

  • Please bear with us on the new site integration and fixing any known bugs over the coming days. If you can not log in please try resetting your password and check your spam box. If you have tried these steps and are still struggling email [email protected] with your username/registered email address
  • Log in now to remove adverts - no adverts at all to registered members!
See for the funding they where trying to achieve due to a number of reasons and criteria 7.5% isn't ridiculous. It's clearly not great but for a development company with clearly an average track record, very little liquid funds who are going to peer to peer lenders, 7.5% is as good as he is going to get in the market.

Clearly the club is completely mis managed etc..... Not disagreeing with that.
 
City1904 said:
See for the funding they where trying to achieve due to a number of reasons and criteria 7.5% isn't ridiculous. It's clearly not great but for a development company with clearly an average track record, very little liquid funds who are going to peer to peer lenders, 7.5% is as good as he is going to get in the market
Click to expand...

The rate wasn't the issue if you read the article. It was that they paid 40% of the loaned amount to an anonymous third party to get that great rate. So of the £1.6m loan they paid out £640,000 to get the 7.5%. This was deemed to be acceptable. Usury is the right word.
 
GLP said:
If teams in the PL redistribute a small percentage of tv revenue it would help teams lower down the pyramid.

They obviously need to better manage their finances in the first instance.
Click to expand...
I wonder if it is possible to manage finances at that level anymore.
 
Chazz Rheinhold said:
I wonder if it is possible to manage finances at that level anymore.
Click to expand...

As the gulf gets bigger between the top two tiers and the bottom two, it's going to be very difficult.

Clubs in Leagues 1 and 2 need a decent cup run now to get finances or produce a gem of a footballer to sell.

I know they have a really rich owner, but if he pulls out, I can see Salford going the same way.
 
Stephen Toast said:
As the gulf gets bigger between the top two tiers and the bottom two, it's going to be very difficult.

Clubs in Leagues 1 and 2 need a decent cup run now to get finances or produce a gem of a footballer to sell.

I know they have a really rich owner, but if he pulls out, I can see Salford going the same way.
Click to expand...
I can see a lot of championship clubs in trouble too soon if not now
Teams like threat spent a lot last season
Derby spend spend spend, surely theres a time the owner thinks fuxk this
Plenty of others haemorrhaging money
 
Anal Frank Fingers said:
The rate wasn't the issue if you read the article. It was that they paid 40% of the loaned amount to an anonymous third party to get that great rate. So of the £1.6m loan they paid out £640,000 to get the 7.5%. This was deemed to be acceptable. Usury is the right word.
Click to expand...

Oh I fully agree, I was responding to a point about the interest rate.
 
Following receipt of notice that the Company Voluntary Arrangement (CVA) has been passed in respect of Bury Football Club, the EFL can confirm that the Club has now suffered an insolvency event and will be subject to a 12-point deduction.

In accordance with EFL Regulations, the sporting sanction will take effect immediately and the Club will start the League One season on minus 12 points. The Club has seven days to appeal.

The EFL will now continue its discussions with the Club’s ownership with the aim of achieving a long-term future for the Club.
 
Shaun Harvey has some legacy...

Bolton and Bury on the verge of going to the wall, Coventry playing in Birmingham, the Blackpool and City ownership problems.

But don't worry he's left his role as CEO of the FL, to be CEO of the Premier League.
 
TheCasual said:
Shaun Harvey has some legacy...

Bolton and Bury on the verge of going to the wall, Coventry playing in Birmingham, the Blackpool and City ownership problems.

But don't worry he's left his role as CEO of the FL, to be CEO of the Premier League.
Click to expand...

Shaun Harvey isn't going to be CEO of the Premier League, he's about as popular as Herpes.
 
originallambrettaman said:
Following receipt of notice that the Company Voluntary Arrangement (CVA) has been passed in respect of Bury Football Club, the EFL can confirm that the Club has now suffered an insolvency event and will be subject to a 12-point deduction.

In accordance with EFL Regulations, the sporting sanction will take effect immediately and the Club will start the League One season on minus 12 points. The Club has seven days to appeal.

The EFL will now continue its discussions with the Club’s ownership with the aim of achieving a long-term future for the Club.
Click to expand...
Sad news for fans of a club with a great footballing heritage
 
  • Like
Reactions: spesupersydera
You must log in or register to reply here.
Top Bottom
Back