We're the absolute opposite of what Bolton have done. Lots of investment into the infrastructure of the club, promotion of youth and a net profit on transfer while doing pretty well on the pitch. They overspent dramatically, did horribly and went down twice.
There does seem to be some sort of unwritten law in the La Liga constitution that as soon as Barca fall behind, the opposition should be reduced to 10 men at the earliest possible convenience, doesn't there? Yet it - bizarrely - doesn't seem to apply to Madrid.
I know. I was just pointing out the stark differences. How did a club like Bolton get into nearly £200m debt? Ridiculous stuff.
Sergio Ramos must be sent off in every game between them, too. Picked up his 982nd red on the weekend. Something like that, anyway. I'd love to know if he's had more reds since he started playing than some teams. Must be a few out there.
I wrote a post about this recently after stumbling across this article during a particularly boring lunch break: http://www.insidermedia.com/insider/national/146216-championship-club-club It's a scary read, essentially a break down of the state of finances in the Championship as it stood at the end of last season. One of the reasons the article was written was that last year, for the first time, cumulative championship debt crossed the £1billion mark - a staggering and frightening statistic. Bolton being £200m in debt really isn't all that unusual. There are numerous clubs with net debts in the region of £75-100m and the situation is only getting worse. A friend of mine in accounting tells me that whenever a company puts 'not stated' next to 'net debt', it means that the situation is bleaker than bleak. By this measure, it looks as though the only team in the division to actually turn a profit was Preston North End, with a mighty £590,000 in the black. If it wasn't so sad I'd laugh. But mark my words, the new TV money deal is going to cripple the lower leagues.
In all seriousness I call it New Stadium Syndrome, you look at all the clubs relegated from what ever leagues they've been in after building a new stadium....... Even your lovely neighbours struggled a bit ?
Some of that is absolutely insane. Brentford's wage bill is more than double their revenue! Looks like a lot of people gambling with the future of old, well established clubs. Horrible. We all know that they'll run off as soon as things go wrong or sell up if they do well. That's fine in business, I guess, but this is supposed to be more than that.
Arsenal used it as an excuse, as their available revenue and spending actually went up consistently. They didn't have any problems paying it off, mainly due to the market value of their property. Other clubs have to curb their spending dramatically, so it's no surprise to see them drop off. It's a risk for a lot of them. Sometimes it's worth it, but it's often not.
The only sentence that should contain 'Bolton' and the figure of £200m is "The value of the entire area of Bolton is much much less than £200m,"
It truly is scary. Lerner chose precisely the worst season to piss Villa's future up a wall. I predict that as of next season, relegated clubs will go down with such a huge wad of TV cash (£100m spread across 3 seasons - enough to pay an entire wage bill at that level), it will be almost impossible to not get promoted back almost immediately...after which any subsequent relegations will incur further enormous parachute payments, and so and and so forth ad nauseaum until the Championship has completely split between 6-8 'haves' (those who were lucky enough to stumble into the Promised Land for a season) and the rest of the division...a miserable collective of clubs who can't keep up with the 'haves' due to FFP and simply incur exponential debt before fading into irrelevance more or less forever. It's frightening, it really is.
You say that, but Fulham have a revenue of over £90m and they're fighting relegation, somehow. Preston are 9 places above them with £6.1m coming in. Boro are second and theirs is only £12.8m, though they're spending more than that on wages, which isn't good. Pretty massive debt, too. There's no way that these clubs should be on the same level, yet the richer ones are somehow ****ing it up. People will speculate, overspend and hope to sneak into the Premier League, then do a runner when it all goes tits up. It'll ruin the sport.
In trouble paying your debts after building a new stadium? Can't meet contractor's invoices? Don't want to get stuck paying them and other creditors off for years and years? Why not consolidate them into one lump sum and go into administration and avoid the lot? Contractor Birse has been forced to write off £5.5m in bad debt after Leicester City FC was put into administration on Monday. The amount is what Birse is owed from its £27.5m contract to build Leicester City's Walkers Stadium, which was completed earlier this year. The cost of the ground and Leicester City's relegation from the Premiership helped to force the club into administration. Failing that, pay the Tory party a **** load of money in political donations and get a stadium for free!
as lower league clubs are run by business men,give players part time jobs in their companies instead of full time jobs as players if they are running into so much debt. someones got to do something before our pyramid system ceases to exist.
You know? I can remember the days when our entertainment before the game was the site of the Spurs Band marching up and down the pitch.In these days of paying players Mickey Mouse money,would that band be paid 10,000 each today,under their agents wishes........? (We all waited for the conductor to throw his baton in the air.....and drop it! Now and then,he did!)
