Another one bites the dust
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- Bluemike
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Another one bites the dust
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.
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Re: Another one bites the dust
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.
- marko69
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Re: Another one bites the dust
WHIT?? 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.Kerry Blue wrote: ↑Wed Sep 16, 2020 12:38 pmIt'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.
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.
- Bluemike
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Re: Another one bites the dust
I would like to think you would help out British gas Marko.
- marko69
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- Dubai Blue
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Re: Another one bites the dust
[/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.......
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.......
- Bluemike
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Re: Another one bites the dust
Southend have Five weeks to pay of 492k or they go too.
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Re: Another one bites the dust
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......
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......
- Bluemike
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Re: Another one bites the dust
They owe 190k in Tax and over 170k to Two separate creditors
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Re: Another one bites the dust
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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