Generic clubs in financial crisis Thread

[Jimmy the Tree]

Did anyone else think it was interesting that the time Cardiff were given to sort out their remaining Tax debt is conveniently after the end of the season?

[Arch]

Did anyone else think it was interesting that the time Cardiff were given to sort out their remaining Tax debt is conveniently after the end of the season?

It's not such a bad decision from a business perspective. If Cardiff get promoted, the creditors' chance of getting paid goes way up.

[Barry the bird boggler]

Administrators should also have the powers to lay off players as they see fit.

In addition the government should step in and clearly state that in all cases all creditors should be treated equally and that there can be no favourtism shown to any one type unless there is public money involved in which case that is the primary creditor.

For the record anyone know roughly how much money have Portsmouth made from the FA Cup?

[Bowman's Quiver]

Did anyone else think it was interesting that the time Cardiff were given to sort out their remaining Tax debt is conveniently after the end of the season?

3 days after the end of the "regular Season". So what happens if they make the play-offs and still don't pay the tax bill?

[buzzby]

Administrators should also have the powers to lay off players as they see fit.

In addition the government should step in and clearly state that in all cases all creditors should be treated equally and that there can be no favourtism shown to any one type unless there is public money involved in which case that is the primary creditor.

For the record anyone know roughly how much money have Portsmouth made from the FA Cup?

£607,500

http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8555595.stm

[Sun Tzu]

Administrators should also have the powers to lay off players as they see fit.

I can't see any reason why they can;t do that now under their 'powers'.

But I can see a few reasons not to do it

1. The players are on contracts which would have to be paid up. So where would it save any money ?

2. Without players there is no club, so while you could lay off the young pros who are nowhere near the first team if you pay off first teamers you probably hit your earnings in the short term as your results suffer and crowds diminish.

Laying off youth coaches, office staff etc probably makes little difference to the immediate operation and costs very little (while also saving relatively little !!)

[Stranded]

Did anyone else think it was interesting that the time Cardiff were given to sort out their remaining Tax debt is conveniently after the end of the season?

3 days after the end of the "regular Season". So what happens if they make the play-offs and still don't pay the tax bill?

They can be put in administration and points deducted immediately - everyone shuffles up a spot and gets the chance to do a Denmark.

[Wycombe Royal]

Administrators should also have the powers to lay off players as they see fit.

In addition the government should step in and clearly state that in all cases all creditors should be treated equally and that there can be no favourtism shown to any one type unless there is public money involved in which case that is the primary creditor.

For the record anyone know roughly how much money have Portsmouth made from the FA Cup?

£607,500

http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8555595.stm

That is only for beating Birmingham, it does not include previous rounds.

[T.R.O.L.I.]

^ Are you sure it's a cumulative prize fund in the FA Cup? Don't think it was confirmed either way on the Team board when people were discussing how much money RFC have made from the cup run.

[PieEater]

1. The players are on contracts which would have to be paid up. So where would it save any money ?

Depends on how the contracts are structured, if they get additional appearance or win bonuses, or dodge paying image rights, they could save quite a bit.

[Sun Tzu]

Any agent worth his salt would argue that by terminating the contract early the club would be depriving the players of the opportunity to earn the bonuses and therefore the money still had to be paid as if the bonuses had actually been earned.

At the very least it would mean ending the deals was more complex (and hence more expensive) than simply telling the player to go, and could actually cost more than keeping the player on !

They need quick and easy ways to cut costs, not ones that might take ages to agree.

Good to see David James trying to arrange for the wages of 8 of the staff to be paid directly by the players. I actually think he is a very decent bloke.

[Seal]

Good news for League Clubs: The Football League have found a company to replace Coca-Cola as the Title sponsor, with an increase in rights fee, which means a little more money distributed to each club.

Official announcement likely to be next week.

[Sun Tzu]

Good news for League Clubs: The Football League have found a company to replace Coca-Cola as the Title sponsor, with an increase in rights fee, which means a little more money distributed to each club.

Official announcement likely to be next week.

If we maintain current form that won't affect us !!

[Seal]

a) that is hopeful to say the least!

b) The thread is generic clubs rather than us, and this is good for generic clubs, particularly those in the Football League where every additional £ of revenue is greatly appreciated!

[Barry the bird boggler]

And the new sponsor is.... HBOS

[Sarah Star]

It's not Ocean Finance is it?

[Sun Tzu]

a) that is hopeful to say the least!

b) The thread is generic clubs rather than us, and this is good for generic clubs, particularly those in the Football League where every additional £ of revenue is greatly appreciated!

a) I did say IF we maintain current form ! Another 33 points would take us to 74 - playoff time !!

b) Agreed, would be nice if the deal was skewed a little towards lower division clubs

[Dirk Gently]

Sunderland about to announce losses of £26M for the year. That's not to compete in the PL, of course, that's to just about survive there.

[Seal]

It's not Ocean Finance is it?

Nope!

Can't say yet but they are certainly a household name.

[Barry the bird boggler]

Harpic?