Guest 645- Registered: 12 Mar 2008
- Posts: 4,463
Clubs with excessive debt could face being thrown out of the Champions League and UEFA Cup, UEFA general secretary David Taylor has revealed.
A working party will hold its first meeting at the Swiss headquarters of European football's governing body on Monday to come up with fresh ways to put the squeeze on clubs who are succeeding on borrowed money.
Taylor suggested that theoretically even Europe's biggest clubs like Chelsea and Manchester United - both heavily in debt - could be thrown out and he told the Leaders in Football conference in London: "We cannot let things stay as they are."
Maybe this will signal the end of the ludicrous amounts paid in the transfer market and the demise of the £225k per week pay packet.
Marek
I think therefore I am (not a Tory supporter)
Guest 674- Registered: 25 Jun 2008
- Posts: 3,391
It had to come to an end sometime, they lived in another world.
like MP's salaries how could it be justified, who else could be allowed to hold such debts
Guest 668- Registered: 13 Apr 2008
- Posts: 91
If you take a snap shot of a balance sheet of one of these clubs then you'll see debt, but does a snap shot give you a true representation of the planning behind the debt? Take Arsenal for example, they have a massive debt because of the move to the new stadium, but without that move and debt, they'd be limiting themselves to smaller gate receipts and smalled advertising revenue.
Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
how many clubs in the in the top 3 divisions are there in credit does anyone know.
Guest 645- Registered: 12 Mar 2008
- Posts: 4,463
Premier League of debt
1. Man Utd
Owners: Glazer family
Debt: £666m
"Comfortably serviced by strong cash flows" says a spokesman, citing large annual pre-tax profits.
2. Chelsea
Owner: R Abramovich
Debt: £578m
The club is dependent for survival on its owner's cash, both in loans and capital.
3. Liverpool
Owners: T Hicks, G Gillett
Debt: £350m+
Bought club with borrowed money. Now the Americans cannot fund a new stadium.
4. Arsenal
Main shareholders: D Fiszman, A Usmanov (24 per cent each)
Debt: £318m
Have accrued debt to fund an asset - the Emirates Stadium - that will be profitable in the long term.
5. Fulham
Owner: Mohamed al-Fayed
Debt: c£180m
Wholly reliant for survival on Fayed, who would sell if he could recoup losses.
6. Man City
Owner: Sheikh Mansour Bin Zayed al Nahyan
Debt: £170m (imminently or already cleared)
City are now the plaything of one of the world's richest men. What is debt?
7. Wigan
Owner: Dave Whelan
Debt: £54m
Whelan remains one of the last of old-school, local businessman-benefactors - for now.
8. Middlesborough
Owner: Steve Gibson
Debt: c£50m
Gibson will remain a long-term financial supporter via his profitable parent company.
9. Bolton
Owner: Eddie Davies
Debt: £37m+
Owes cash to parent company that cannot sustain indefinite losses. Davies would sell.
10. Aston Villa
Owner: Randy Lerner
Debt: £37m
Unlike others, Lerner has not followed a "leveraged" buyout and has spent his own money, mostly.
11. Sunderland
Owner: Drumaville Consortium
Debt: £35m
Irish owners have speculated to accumulate Premier League stability.
12. Portsmouth
Owner: Alexandre Gaydamak
Debt: £31m
Millionaire owner who would happily sell to a billionaire.
13. Everton
Owners: B Kenwright (37.2 per cent), R Earl (34.6)
Debt: £26.4m
The latest club to ask sell-off expert Keith Harris to find them a billionaire buyer.
14. West Ham
Owner: Björgolfur Gudmundsson
Debt: c£25m
Gudmundsson's troubled Landsbanki initially took on £20m of Hammers' debt.
15. Blackburn
Owner: The Walker Trust
Debt: £20m
The Trust would happily offload the club but will fund it moderately in the meantime.
16. Tottenham
Owner: ENIC
Debt: £17m
As a listed company, needs to be more transparent and prudent than most.
17. Stoke City
Owner: Peter Coates
Debt: c£5m
Premier League income will comfortably cover low-level borrowing for now.
18. West Bromwich
Owner: Jeremy Peace.
Debt: c£3m
Another club that can boost its coffers in the top flight, if restrained with its spending.
19. Newcastle
Owner: Mike Ashley
Debt: Negligible (almost cleared from £110m+)
Ashley paid £110m to reduce debt, but now wants that back in £300m price tag.
20. Hull City
Owner: Paul Duffen (main shareholder)
Debt: Negligible
Premier League status means financial dreamland, if (and it is a big 'if') the club can control their spending.
Hope that answers your question Brian.
Marek
I think therefore I am (not a Tory supporter)
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
thanks marek very helpfull.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
funnily enough football clubs have always been run in debt well before the premier league and sky entered the fray.
i remember reading when i was a kid that only 7 out of 92 clubs operated in the black.
it was the same 7 every year.
ob
one of them was west ham, that still refused to have advertising in their programme or anywhere on the ground.
i think that most of us knew that the present bubble would burst one day.
all the financial analysts have always banged on that the wage bill at football clubs was totally out of proportion
to the average percentage of staffing costs in the rest of business.
i noted also that dave whelan and steve gibson(genuine fans) are bankrolling their clubs, mainly as an emotional thing than a cold headed business proposition.
good to see Hull in there with no debt, until they got promoted in May, hull was the largest city in europe without a football club in the top flight.
Guest 674- Registered: 25 Jun 2008
- Posts: 3,391
10 October 2008
09:467289Doesn't look good, but probably won't change, and the supporters will have to pay the brunt,
who can afford to go to these premier grounds these days.
im at crabble saturday supporting my local club
come on you whites!!
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
10 October 2008
19:077312keith
it is 10 quid to watch dover, some premier clubs only charge 20 quid for home games.
Ross Miller
- Location: London Road, Dover
- Registered: 17 Sep 2008
- Posts: 3,695
10 October 2008
20:567329Ah yes Howard but it is money that is spent locally to support a local club and I bet their pies and beer are cheaper too
"Dream as if you'll live forever. Live as if you'll die today." - James Dean
"Being deeply loved by someone gives you strength,
While loving someone deeply gives you courage" - Laozi
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
10 October 2008
21:367333ross
i accept your point, but that only applies to people that have their roots here or it is a family thing.
for the neutral that simply wants entertainment and value for money, the premiership is dirt cheap compared to say for example "the blue square premier".
Ross Miller- Location: London Road, Dover
- Registered: 17 Sep 2008
- Posts: 3,695
10 October 2008
21:437335Perhaps but add on travel costs....
"Dream as if you'll live forever. Live as if you'll die today." - James Dean
"Being deeply loved by someone gives you strength,
While loving someone deeply gives you courage" - Laozi
Guest 640- Registered: 21 Apr 2007
- Posts: 7,819
11 October 2008
06:477340Its very interesting...talking about money and foortball and money in football, I heard footballing legend Michel Platini, that great midfield star of a few years back and now a bigwig in FIFA, talk about the negative aspects the other day. He was really talking about the relationships communities have with their teams.
He spoke of Liverpool and made this point about foreign players owners etc
"How would you like a Liverpool owned by a sheik, managed by a brazilian, with nine african players"
I can very much see the point. At one time there Arsenal had only one english player, a totally foreign team and management. Is this good. Okay you may see a few more stars than you might have one time, but the soul of the thing is lost.
By the way Marek well done with that report above, lot of info there.
Guest 645- Registered: 12 Mar 2008
- Posts: 4,463
11 October 2008
07:417345Man United have always had a good youth team policy.Fergie blends a mix of up and coming British youngsters together with world superstars.Giggs although poached from Manchester City when he was 14 yrs of age has now surpassed the legendary Bobby Charltons appearance record.The club needs to be successful but at what price.I saw a clip of a very young David Beckham(circa 1986) on telly last night.When interviewed he said his main aim was to go to the Bobby Charlton football school.Beckham has now opened his own very successful football academies for both talented and under privileged yougsters.I wonder how long it will be before a star emerges from one of his schools?.This is the way forward for British clubs and football.
Marek
I think therefore I am (not a Tory supporter)
Guest 667- Registered: 6 Apr 2008
- Posts: 919
11 October 2008
09:017349I know where I am every Saturday and that is watching Dover, Home and Away if poss.
Premier clubs are over valued, there are not many at £20 Howard and that is probably for certain games. I used to go up to West Ham but have not done so for a number of years now, no thank you I am more than happy supporting my local club.
Dover v Wimbledon today in the FA Cup
Get up there Howard you might even like seeing football as it should be played by British Players. Not a load of diving foreigners.
Come on you Whites: