Another one bites the dust

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Bluemike
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Another one bites the dust

Post by Bluemike » Wed Sep 16, 2020 12:17 pm

Macclesfield have just followed Bury into oblivion after being wound up for debts exceeding 500k. To think players can earn that in Two weeks, football is shameful really.

Kerry Blue
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Re: Another one bites the dust

Post by Kerry Blue » Wed Sep 16, 2020 12:38 pm

It's just crazy as you say two weeks wages, if clubs can pay there players that much they should have to pay into a fund for small clubs that are in trouble.

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marko69
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Re: Another one bites the dust

Post by marko69 » Wed Sep 16, 2020 12:48 pm

Kerry Blue wrote:
Wed Sep 16, 2020 12:38 pm
It's just crazy as you say two weeks wages, if clubs can pay there players that much they should have to pay into a fund for small clubs that are in trouble.
WHIT?? :shock: :shock: :shock: Should they? Where does that stop in the world of finance? Me dipping into a fund that British Gas contributes to when times are hard? That's the craziest idea I've ever read on here. Even crazier than players getting perms.

Surprised up until now it's only Bury & Macclesfield. Thought this far down the line after March 23rd, more clubs would've been gone. I know how difficult it's been for my small business, how these smaller clubs with masses of overheads like players and other staff wages are coping is a mystery to me. Even with all the furlough.

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Bluemike
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Re: Another one bites the dust

Post by Bluemike » Wed Sep 16, 2020 12:54 pm

I would like to think you would help out British gas Marko. 🤣

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marko69
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Re: Another one bites the dust

Post by marko69 » Wed Sep 16, 2020 12:59 pm

Bluemike wrote:
Wed Sep 16, 2020 12:54 pm
I would like to think you would help out British gas Marko. 🤣
British Gas and their 5 years interest free credit on boilers? Naw! They can go fk themselves!

sh*t!!! Just advertised British Gas and their boiler deals on the forum! Stoopid stoopid stoopid!

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Dubai Blue
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Re: Another one bites the dust

Post by Dubai Blue » Wed Sep 16, 2020 1:21 pm

[/quote]
Surprised up until now it's only Bury & Macclesfield. Thought this far down the line after March 23rd, more clubs would've been gone. I know how difficult it's been for my small business, how these smaller clubs with masses of overheads like players and other staff wages are coping is a mystery to me. Even with all the furlough.
[/quote]

I'm surprised too. But it's not over yet.......

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Bluemike
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Re: Another one bites the dust

Post by Bluemike » Wed Sep 16, 2020 2:19 pm

Southend have Five weeks to pay of 492k or they go too.

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Andym
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Re: Another one bites the dust

Post by Andym » Wed Sep 16, 2020 3:34 pm

I imagine some are/were hanging on to the hope of fans returning on October.

I confess I do not understand the world of football finance at all. If a business keeps piling up debt, the banks soon pull the plug. I'm guessing our debt is with the owner rather than any bank. So for Macclesfield....Do they owe the bank? It's often tax debts that are the last straw when HMRC demand payment. So have they run out of money and can't borrow any more?

The salary cap was probably needed but has been wrongly applied. It may be too high still for smaller clubs. A percentage of income would have been far more sensible. You could call it Financial Fair Play, and......

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Bluemike
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Re: Another one bites the dust

Post by Bluemike » Wed Sep 16, 2020 3:56 pm

They owe 190k in Tax and over 170k to Two separate creditors

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Re: Another one bites the dust

Post by hallamblue » Wed Sep 16, 2020 3:59 pm

I think we could start to see more and more clubs go under now that the season has started and they have to adhere to all the weekly testing etc in order to put games on (without fans income ) .

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Re: Another one bites the dust

Post by hallamblue » Wed Sep 16, 2020 3:59 pm

Bluemike wrote:
Wed Sep 16, 2020 3:56 pm
They owe 190k in Tax and over 170k to Two separate creditors

It'll be the IR bill that gets them .

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