Generic clubs in financial crisis Thread

[Sutekh]

For some reason the phrase "unless you're Portsmouth" kept springing to mind when reading the above.

[watfordroyal]

Surprisingly Cellino has not been found fit and proper!

Poor Brian's gonna have to suffer a little bit longer at Leeds then, with a Colin visit on the horizon!

[handbags_harris]

That is a major rebuilding job in the close-season for him. They're haemorraging money so it's bye bye assets such as McCormack et al and hello to bargain basement signings. Far be it for me to suggest they'll be close to relegation next season, but they're in danger of going that way. Luckily for them they've got one of the very best for getting the best out of his players. Sadly for them I don't think they'll give him the time should they start next season poorly.

[TFF]

Leeds lurching towards administration

http://www.bbc.co.uk/sport/0/football/26752394

[Stretts]

Winding up order issued against Hereford. Court case on April 7th.

http://bullsnews.blogspot.co.uk/2014/03 ... ainst.html

[dizzynewheights]

Surprisingly Cellino has not been found fit and proper!

There's an appeal process yet, I sense a loophole

[TFF]

Leeds fail to pay the playing squad

[SPARTA]

Leeds fail to pay the playing squad

and GFH are banking on Cellino winning his appeal to keep the club going. No plan b according to Nick Harris.

[6ft Kerplunk]

Plan B is go into administration, offer 1p in the £, not pay that and carry on. <repeat to fade>

[Who Moved The Goalposts?]

Plan B is go into administration, offer 1p in the £, not pay that and carry on. <repeat to fade>

I think this formula is commonly referred to as the Pompey Payment Plan.

[Sutekh]

So that's what PPP is

[TBM]

Plan B is go into administration

Really? - i thought Ill Manors was quite good.....

[Stretts]

Plan B is go into administration

Really? - i thought Ill Manors was quite good.....

Predictable but

[Ian Royal]

Plan B is go into administration, offer 1p in the £, not pay that and carry on. <repeat to fade>

Doesn't work with players.

[Royalclapper]

Some mixed messages in this release by Southampton - £27m transfer fees owed and a new training complex which has doubled in cost from £15 to £30m. Apparently they have it covered and don't have to sell star players.

http://www.bbc.co.uk/sport/0/football/26813363

[TFF]

Does look a bit like they're following the "spend now worry l8er" model of their near neighbours.

[Who Moved The Goalposts?]

Some mixed messages in this release by Southampton - £27m transfer fees owed and a new training complex which has doubled in cost from £15 to £30m. Apparently they have it covered and don't have to sell star players.

http://www.bbc.co.uk/sport/0/football/26813363

I'd be quite worried if I was a Saints fan. In one way, debt seems under control as the Liebherr cash injections have now been converted into equity, but to start a season owing 27m is frightening. I'd be surprised if they could afford any new players for at least a couple of seasons unless they sell, and if they have a bad season next year then heaven help them.

[Uke]

Surprisingly Cellino has not been found fit and proper!

There's an appeal process yet, I sense a loophole

Your Spidey sense was correct

http://www.bbc.co.uk/sport/0/football/26902775

[handbags_harris]

So, a man convicted of fraud in his own nation that is a member of the European Union can take over an English league football club. So, can someone remind me what the fit and proper person test is for again...?

[Mr Angry]

So, a man convicted of fraud in his own nation that is a member of the European Union can take over an English league football club. So, can someone remind me what the fit and proper person test is for again...?

As he is currently appealing against his latest conviction, the independent lawyer who heard his appeal against the findings of the fit & proper test said that he should be considered innocent at this time, and therefore, should be allowed to purchase Leeds.

Quite why the decision wasn't to suspend his application until after his appeal in the Italian courts had been heard seems daft; what happens if his appeal for the conviction fails? Will he have to relinquish LUFC?