Generic clubs in financial crisis Thread

[Svlad Cjelli]

Why should it?

Read what he said and you'll see that he was saying that there is no loyalty in football - apart from the supporters, anyone else's loyalty can be bought and sold.

[Royal With Cheese]

Did the room burst into laughter when Coppell mentioned loyalty in football?

Or that Supporters are number 1 becasue they pay the wages.

[Royal With Cheese]

Oooh, past 2,000 posts now.

[Svlad Cjelli]

Manchester Utd suing anti-Glazer protester :

Lawyers acting on behalf of the Premier League leaders have filed a writ at the High Court accusing Thomas McKenna of damaging United’s business by posting the names and addresses of 400 of its corporate clients on the internet.

United’s case states that Mr McKenna, of Greater Manchester, published the list in a campaign to stop companies renewing their membership in an attempt to put pressure on the unpopular Glazers, who took over at Old Trafford in 2005, to sell their stakes in the club.

Despite a high-profile inquiry by United, revealed by Telegraph Sport last year, the club admitted in the High Court writ that they had not identified who supplied Mr McKenna with his information.

However they are pursuing 44-year-old Mr McKenna for “losses and damages” they claim the club suffered as a result of its client information appearing on the website wewantglazerout.com, the public face of anti-Glazer group United Supporters for Change.

The writ also details that Mr McKenna was arrested by Greater Manchester Police in August last year in connection with the incident. Data relating to Manchester United’s client list was allegedly found in his possession. Telegraph Sport understands the police are not pursuing their enquiries.

http://www.telegraph.co.uk/sport/football/teams/manchester-united/8402512/Manchester-United-risk-antagonising-fans-even-further-by-suing-anti-Glazer-supporter.html

[roadrunner]

Sky Sports reporting Coventry City are under a transfer embargo and fans are planning a protest at home to Watford as they believe the club is about to go into administration.

Ray Ray Ray Ray Ranson set to step down as Chairman.

[Terminal Boardom]

http://news.bbc.co.uk/sport1/hi/football/12866723.stm

What's going on at Watford?

[TFF]

The supporters' trust is voicing takeover fears.

[Svlad Cjelli]

The good old "Beware of unknown people promising money....."

[roadrunner]

Watford have just posted a £2.5M loss for the last half year (on top of a £4M loss last year). They need £3.5M injected just to keep going. Ashcroft has run out of patience and now accepts that his investment was a very poor one and so is selling to get something back. Graham Taylor, their chairman, is not recommending the buyout for £440,000 but admits that there is no other alternative and if shareholders don't accept a paltry penny a share then their shares may become unsaleable anyway.

Bassini, their main proposed buyer (the other turned out to be led by a conman), has been involved in a number of businesses and the Guardian cannot find one that was successful. He went bankrupt in 2007, went on benefits and changed his name (from Bazini).One of the planned directors is an ex hairdresser who isn't sure what her job will be as director but loves American football. You really couldn't make it up.

Still want to see Madjeski move on?

Sounds like Watford could well be going into administration very soon.

Regarding Madejski, it really does make you appreciate how good he has been for us here and understand also why we haven't had a buyer come along yet. He'll be vetting everyone that shows a serious interest, and thank god he does.

[roadrunner]

Sky Sports reporting Coventry City are under a transfer embargo and fans are planning a protest at home to Watford as they believe the club is about to go into administration.

Ray Ray Ray Ray Ranson set to step down as Chairman.

Ranson has left the building.

[Super_horns]

The supporters' trust is voicing takeover fears.

Yes...because the guy rumoured to be coming is has been made bankrupt THREE times and changed his names etc.

Also wants to borrow money which adds to the clubs debts.

Its probably the only option to avoid us going into administration this summer but hardly an exciting one.

[ZacNaloen]

Is he the same conman that has been trying to buy football clubs for a few years now?

[Svlad Cjelli]

The supporters' trust is voicing takeover fears.

Yes...because the guy rumoured to be coming is has been made bankrupt THREE times and changed his names etc.

Also wants to borrow money which adds to the clubs debts.

Its probably the only option to avoid us going into administration this summer but hardly an exciting one.

At least supporters groups are now asking the right sort of questions and blowing the whistle - a few years ago anyone promising free money would be welcomed in with open arms and no questions.

[Super_horns]

Is he the same conman that has been trying to buy football clubs for a few years now?

That was somebody else...but they probably sounded better!



Probably actually had some money...

Hopefully there is somebody in the background not not known about yet who is funding this.

Clearly we are never going to get millions like these top clubs do and Graham Simpson was a Watford fan look what he did with our Premiership money but I'd feel a whole lot more confident/excited if we were actually getting an injection of cash rather than some guys just lumping loads on us which can only be re-paid by selling players which is hardly going to hep our league position.

[Bucks Dave]

Watford have just posted a £2.5M loss for the last half year (on top of a £4M loss last year). They need £3.5M injected just to keep going. Ashcroft has run out of patience and now accepts that his investment was a very poor one and so is selling to get something back. Graham Taylor, their chairman, is not recommending the buyout for £440,000 but admits that there is no other alternative and if shareholders don't accept a paltry penny a share then their shares may become unsaleable anyway.

Bassini, their main proposed buyer (the other turned out to be led by a conman), has been involved in a number of businesses and the Guardian cannot find one that was successful. He went bankrupt in 2007, went on benefits and changed his name (from Bazini).One of the planned directors is an ex hairdresser who isn't sure what her job will be as director but loves American football. You really couldn't make it up.

Still want to see Madjeski move on?

[roadrunner]

Watford have just posted a £2.5M loss for the last half year (on top of a £4M loss last year). They need £3.5M injected just to keep going. Ashcroft has run out of patience and now accepts that his investment was a very poor one and so is selling to get something back. Graham Taylor, their chairman, is not recommending the buyout for £440,000 but admits that there is no other alternative and if shareholders don't accept a paltry penny a share then their shares may become unsaleable anyway.

Bassini, their main proposed buyer (the other turned out to be led by a conman), has been involved in a number of businesses and the Guardian cannot find one that was successful. He went bankrupt in 2007, went on benefits and changed his name (from Bazini).One of the planned directors is an ex hairdresser who isn't sure what her job will be as director but loves American football. You really couldn't make it up.

Still want to see Madjeski move on?

Sounds like Watford could well be going into administration very soon.

Regarding Madejski, it really does make you appreciate how good he has been for us here and understand also why we haven't had a buyer come along yet. He'll be vetting everyone that shows a serious interest, and thank god he does.

[Super_horns]

Not sure if we will go into administration if the take-over happens but we'll just flog anyone half decent to make up the debts in the future...not exactly forward thinking is it!

Even the re-development of the ground is doubtful.

What happens when you sell out to a Tory with no interest in the game though...would he care what this new chap is like and his past?

You've been lucky to have such a loyal backer that actually supports the clubs over so many years ofcourse.

Most teams would love somebody like Mr Madejski....

[Svlad Cjelli]

The first signs of a sea change as a result of the DCMS Sselect Committee. I know I've been banging on for months about what a difference this will make, but the fact that parliamentary time has been set aside for this legislation is such a massive development :

Clubs face licensing system in wake of parliamentary inquiry

• Select committee seeks to increase transparency of ownership
• Parliamentary time set aside for act to enshrine new system

Matt Scott The Guardian, Tuesday 29 March 2011

The Culture, Media and Sport select committee's investigation into football governance is set to lead to a formal club licensing system. Indeed, so advanced is the thinking of the committee that what the licensing system would contain is already taking shape.

Insiders have told Digger that there are four main strands. The committee has been particularly alarmed by the lack of transparency surrounding Leeds United's ownership. Shaun Harvey, the Championship club's chief executive, was left to answer the committee's questions about who are the beneficial owners of the web of offshore trusts that are Leeds's parents, but he said he did not know. This starkly illustrated to the committee the ease with which impenetrable structures can be set up.

The second licensing condition will be a strengthened fit-and-proper-persons' test. Third will be a restriction on the clubs' gearing ratios of debt to equity or assets, and fourth will be an element of supporter involvement in the decision-making structures of clubs.

This is set to be enshrined in a Football Governance and Major Events Act, for which parliamentary time has been set aside. The licensing system would be a big incentive for reform of the normally reactionary Football Association. Once the FA became fit for regulatory purpose, oversight of the system would give it proper teeth.

[Deadlock]

What happens when you sell out to a Tory with no interest in the game though...would he care what this new chap is like and his past?

You've been lucky to have such a loyal backer that actually supports the clubs over so many years ofcourse.

Most teams would love somebody like Mr Madejski....

SJM was a Tory with no interest in the game when he took over! He's still a Tory, but the game seems to have grown on him over the years.

[Once were Biscuitmen]

All the, "Madejski out" cretins should be made to read every post in this thread before having their Team board posting privileges restored.