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Bury the debt?

Piethagoram
in English Football

Featured Replies

Posted
#1

https://www.theguardian.com/football/2016/oct/27/bury-gigg-lane-winding-up-order-league-one?CMP=share_btn_tw

Be careful what you wish for...borrowing against the assets of the club

If you learn something from every game, there shall come a point in time, when you should never lose... Jimmy Sirrel

#2

10% a month interest! I know very little about these things but I would have thought if the company that owns a Football Club is dissolved (for whatever reason) the Football League would be all over the owners as to whether they are fit to run a football club. in a way I think it also shows the corrosive effect of the Premier League as people 'bet the house' ( or the club) on gaining promotion.

  • Author
#3

@Riverleeno The problem with the "fit and proper person" test is that it is only relevant at the date of purchase. There needs to be much tougher regulations to prevent "wonga" style funding. If a club is liquidated, that's it, start with a new club at the bottom of the pyramid. A lot of people just don't realise the state of the finances after Munto, Notts could have been close to going bust, had not the Trews come our way

If you learn something from every game, there shall come a point in time, when you should never lose... Jimmy Sirrel

#4

Maybe the Football League EFL or FA (or Supporters Association) ought to have a 'golden share' with some control of the amount that owners can borrow against club assets?

I'm not sure how that would work in practise!

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