Juan Albion
Chicken Sniffer 3rd Class
- Thread starter
- #221
Worryingly silent in Bolton too.
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[Football] Poor old Bury
- Thread starter Juan Albion
- Start date
I’d love to ask you that question in 1997..
Juan Albion
Chicken Sniffer 3rd Class
- Thread starter
- #223
Peterborough co-owner Darragh Macanthony saying he knows of someone who wants to buy Bury but refuses to give the current owner a single quid's profit. Hmmm.
Guy Fawkes
The voice of treason
- Sep 29, 2007
- 8,205
Surely gate money and match day sales are very important to clubs at that level, reducing the league size and therefore how many games they play will just reduce their income and make it even harder for many to survive
But virtually every club outside the PL spends outside their means - including us when we were in the Championship. Are you suggesting that all clubs that outspend their income should be left to die ? It's going to be a very small league !
Juan Albion
Chicken Sniffer 3rd Class
- Thread starter
- #226
This certainly applies if Bury and Bolton go. That's two fewer incomes for clubs already struggling. Teams like Southend would definitely be affected.
Interestingly he also talks about the due diligence process his new partners in Peterborough had to go through to just take 50% of his share in the club. Proof of funds, inspection into all their businesses, 1 on 1 meeting with Shaun Harvey etc. So why nothing in Bury?
bomber130
bomber130
- Jun 10, 2011
- 1,908
We were the only league team in Sussex at that time. So many rich clubs in and around the bury and Bolton area as well as Merseyside can this be sustainable. It’s sad but this seems to be happening to often. Plus let’s spare a thought for the poor sod who only gets 1pence in the pound that he/she/they are owed. I am sure if it went really tits up in 1997 and you only got 1pence for every pound owed you may have a different view today. #youlostnothing
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Guy Fawkes
The voice of treason
- Sep 29, 2007
- 8,205
I really hope both will be saved but fear the worst will happen here
Football club ownership has always been a money pit for owners, but nowadays, with clubs so heavily in debt and many caught in a debt spiral (interest payments on existing debts whilst chasing (and overspending) trying to stay up / get promotion - the likelihood of clubs finding potential owners with the funds to be able to afford to take over when they are in trouble is becoming less and less. It doesn't take a lot to start a club's financial troubles running out of control
Football club ownership has always been a money pit for owners, but nowadays, with clubs so heavily in debt and many caught in a debt spiral (interest payments on existing debts whilst chasing (and overspending) trying to stay up / get promotion - the likelihood of clubs finding potential owners with the funds to be able to afford to take over when they are in trouble is becoming less and less. It doesn't take a lot to start a club's financial troubles running out of control
Guy Fawkes
The voice of treason
- Sep 29, 2007
- 8,205
But these clubs have had bigger neighbours around them for decades and have survived, to put the blame on them and their success is ridiculous
Blame things like the Bosman ruling (inflating wages dramatically)
Blame things like the fact fans are keen to see clubs splashing the cash to chase success rather than limiting spending and making a profit, even if means relegation until they find a more natural level as they struggle to compete with teams who spend more
Blame owners willing to gamble the clubs future by allowing overspending and debt rather than making sure it lived within it's means
Blame the collapse of ITV Digital (?) and the impact it had on teams in the championsip that season that expected and budgeted for a higher income from TV than it actually got
And so on........
(Sounding like an updated version of that PF project song, 'Choose life' as used in the film Trainspotting)
Steve Dale's son in law 'bought' Bury's biggest debt – of £7m – for £70,000 just a couple of weeks ago.
This meant two things.
Firstly, by becoming the biggest creditor, he was able to vote through the CVA pushing Bury towards a "wind-up and give creditors 'some' of their money back" position (even though other creditors were against it).
Secondly, once Bury go under, he allegedly gets the lion's share of what can be recouped through that CVA order. I saw mention of around £1.75m likely to head his way. Not bad for a £70,000 "investment".
Juan Albion
Chicken Sniffer 3rd Class
- Thread starter
- #232
Bury Football Club would like to issue the following statement to supporters.
We understand that this is a difficult and emotional time for all supporters given the recent news regarding a potential takeover.
While the Club are working hard looking at other potential avenues with other interested parties, we would like to remind supporters that no one should gain access to inside the stadium (unless authorised).
CCTV is installed at Gigg Lane, and anyone damaging Club property or trespassing into the stadium itself will be identified and appropriately dealt with by the Police, who will have access to current and previous CCTV footage.
We would like to urge supporters to remain patient and respectful for Club property.
We understand that this is a difficult and emotional time for all supporters given the recent news regarding a potential takeover.
While the Club are working hard looking at other potential avenues with other interested parties, we would like to remind supporters that no one should gain access to inside the stadium (unless authorised).
CCTV is installed at Gigg Lane, and anyone damaging Club property or trespassing into the stadium itself will be identified and appropriately dealt with by the Police, who will have access to current and previous CCTV footage.
We would like to urge supporters to remain patient and respectful for Club property.
Ernest
Stupid IDIOT
Let other teams in won’t it instead of the financial basket cases being propped up
Apparently 5.00pm was the deadline as that is when the EFL board sit. The outcome won’t be known until after the board meeting.
Easy 10
Brain dead MUG SHEEP
Giving players like Leon Clark 3 year contracts on £8k a week is whats done for them. Ludicrous numbers for a 3rd division club on crowds of 3-4k to be paying out.
Guy Fawkes
The voice of treason
- Sep 29, 2007
- 8,205
It would be interesting to see stats for lower league clubs income over the years since the late 80's / early 90's to now
Whether their income (in real terms / adjusted for inflation) has actually dropped and if so by how much or have higher match day prices, consolidation payments from the PL billions, etc meant they have been earning more than previously and their issues have all bee down to how they spend their income (ie - Inflated wages and fees paid for players negating this increase)
And the impact of player sales, or a lack of sales since the top flight spent more and more on foreign players rather than buying from lower league clubs) have affected clubs (losing this trickle down effect from the top flight) or have the higher fees paid countered this lack of spend in terms of numbers brought and sold?
Juan Albion
Chicken Sniffer 3rd Class
- Thread starter
- #237
Bolton have said discussions are ongoing with all parties. Sounds like good news - but it also means they couldn't find a solution before the deadline.
I suspect Bolton will be given more time. They might be able to argue they should be able to suspend as many games as Bury while they try to sort things out. On the other hand, the administrators have to treat them like any other business, and if they say the business can no longer operate, it won't matter if the league give them more time.
I suspect Bolton will be given more time. They might be able to argue they should be able to suspend as many games as Bury while they try to sort things out. On the other hand, the administrators have to treat them like any other business, and if they say the business can no longer operate, it won't matter if the league give them more time.
Two Professors
Two Mad Professors
Very sad.There,but for the Grace of Tony...........
Juan Albion
Chicken Sniffer 3rd Class
- Thread starter
- #239
New bidders for Bury.
Nice swerve. So when we're relegated, and it will happen at some point, you're happy for us to go under because we'll be spending more than we bring in ?