East Level 2
Well-Known Member
The rules are intended to stop disreputable people from buying clubs. If an apparently honest person purchases a club there is nothing to stop him acting like a deranged gerbil once he's in charge.
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Sheffield Wednesday on the brink… | Enter administration (p30)
- Thread starter Lowtower
- Start date
The fit and proper test should also include a large percentage or a large deposit payment to protect the club from any future wrongdoing, Also the EFL should also take more of the blame and protect the clubs by having somebody working at the clubs and making reports on a monthly basis.The rules are intended to stop disreputable people from buying clubs. If an apparently honest person purchases a club there is nothing to stop him acting like a deranged gerbil once he's in charge.
It's simple ? The EFL are offering a product to use, and if somebody is not doing a good job, then they (EFL) should step in and take control and take the club off their hands,
East Level 2
Well-Known Member
I think the EFL and PL should issue licences to owners and revoke them in the case of non-payment of wages or other bills, however having to post a large deposit might deter genuine potential owners from investing.The fit and proper test should also include a large percentage or a large deposit payment to protect the club from any future wrongdoing, Also the EFL should also take more of the blame and protect the clubs by having somebody working at the clubs and making reports on a monthly basis.
It's simple ? The EFL are offering a product to use, and if somebody is not doing a good job, then they (EFL) should step in and take control and take the club off their hands,
I agree that the EFL should inspect club finances more regularly, however clubs are businesses and are audited in line with other businesses.
Mad Eyed Screamer
Moderator
And what if no one comes forward to buy it?The football authorities should basically force a situation where he is forced to take any offer coming his way now.
What if the new buyers turn out to be even worse than him? Can he sue for “lost money”?
dadnlad
Well-Known Member
I've got same question owners must run out of funding sooner or later what do they do thenAnd what if no one comes forward to buy it?
What if the new buyers turn out to be even worse than him? Can he sue for “lost money”?
dadnlad
Well-Known Member
matterface has answer ................ just sell up
so even if dont get value or close to just sell it lol
not taking piss out any club in difficulties so easy couldve been us
what shouldnt be allowed and think stopped now is asset stripping ie car park, stadium and training ground
so even if dont get value or close to just sell it lol
not taking piss out any club in difficulties so easy couldve been us
what shouldnt be allowed and think stopped now is asset stripping ie car park, stadium and training ground
No one is buying either, as they aren't going concerns if you apply normal business rules.matterface has answer ................ just sell up
so even if dont get value or close to just sell it lol
not taking piss out any club in difficulties so easy couldve been us
what shouldnt be allowed and think stopped now is asset stripping ie car park, stadium and training ground
So you are likely to get a worse owner than before.
East Level 2
Well-Known Member
Isn't that what happened at Bury? Shite owner but the EFL allowed an even worse owner rather than have them go bust. And they went bust in the end anyway.No one is buying either, as they aren't going concerns if you apply normal business rules.
So you are likely to get a worse owner than before.
Unless the owner is prepared to bank role the club at their own personal loss it always happens eventually.Isn't that what happened at Bury? Shite owner but the EFL allowed an even worse owner rather than have them go bust. And they went bust in the end anyway.
The EFL didn't have any powers to stop the club being sold then, they could disqualify an owner but the deal would already be done. Most bad owners would not have any reason to be disqualified.
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East Level 2
Well-Known Member
This has been my point all along. Bad owners pass the fit and proper person test before showing themselves as bad owners, therefore the F&P test is a waste of time.Unless the owner is prepared to bank role the club at their own personal loss it always happens eventually.
The EFL didn't have any powers to stop the club being sold then, they could disqualify an owner but the deal would already be done. Most bad owners would not have any reason to be disqualified.
We need a system of governance that ensures clubs are being run correctly on an ongoing basis, but is this even possible, and how do you define "being run correctly"? Clearly non-payment of wages, taxes and other debts indicates a club is not being run correctly but what can be done about it by the football authorities? HMRC can push a winding up order, but the EFL seem powerless.
We have a childish vision of clubs being "the fans" (go tell supporters of the original Wimbledon), but have to accept they are businesses rather than community assets.
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West Yorks Owl
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Well it's finally happened and we are bottom of the league where we'll stay for the rest of the season.
TBH it took a lot longer than I expected it to.
Looks like we'll have to play the U18's keeper against Boro at home on Wednesday, as our "emergency loan keeper" got a straight red today. Could be a cricket score!!!,
TBH it took a lot longer than I expected it to.
Looks like we'll have to play the U18's keeper against Boro at home on Wednesday, as our "emergency loan keeper" got a straight red today. Could be a cricket score!!!,
burnley blue mcfc
Well-Known Member
Feel for you pal, your a seriously big club who’ve been ruined by a **** of an owner by the looks of itWell it's finally happened and we are bottom of the league where we'll stay for the rest of the season.
TBH it took a lot longer than I expected it to.
Looks like we'll have to play the U18's keeper against Boro at home on Wednesday, as our "emergency loan keeper" got a straight red today. Could be a cricket score!!!,
West Yorks Owl
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Thanks m8, we've just got to suck it up as it's gonna get a lot worse once the winding up order is issued.Feel for you pal, your a seriously big club who’ve been ruined by a **** of an owner by the looks of it
burnley blue mcfc
Well-Known Member
Horrible thought pal, best wishes going forward, your fans deserve so much moreThanks m8, we've just got to suck it up as it's gonna get a lot worse once the winding up order is issued.
The owner pumped £10m in on their last accounts to keep them afloat and most of the money they owe is to him. He had probably loaned more since and it will be closer to £70m, but costs going up every season and he is out of cash, and I suspect most of his personal wealth is now tied up in SWFC so he can't afford to write it off and walk away, but not chance it gets wound up either or he loses everything.Thanks m8, we've just got to suck it up as it's gonna get a lot worse once the winding up order is issued.
The issue is if he sells the club at a fair value he gets a fraction back of what he put in, most likely about half maximum, but any potential buyer can get it cheaper if it folds completely so they are no going to pay a fair price.
What is the solution? The club probably owes £90m now, it is worth half that at a push and no one will pay near that, so if you buy it for £20m the owner gets 0 and loses £70m? There will be vultures interested in the club but they want a dead carcass first.
East Level 2
Well-Known Member
Who would stump up 20 million to own a club that is going to continue losing millions per season unless they get promoted? - Or promoted at least twice if they go down this year.The owner pumped £10m in on their last accounts to keep them afloat and most of the money they owe is to him. He had probably loaned more since and it will be closer to £70m, but costs going up every season and he is out of cash, and I suspect most of his personal wealth is now tied up in SWFC so he can't afford to write it off and walk away, but not chance it gets wound up either or he loses everything.
The issue is if he sells the club at a fair value he gets a fraction back of what he put in, most likely about half maximum, but any potential buyer can get it cheaper if it folds completely so they are no going to pay a fair price.
What is the solution? The club probably owes £90m now, it is worth half that at a push and no one will pay near that, so if you buy it for £20m the owner gets 0 and loses £70m? There will be vultures interested in the club but they want a dead carcass first.
City Hobgoblin
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The EFL allowed them to be sold for £1 to an asset stripper, can't see that being allowed to happen to Wednesday.Isn't that what happened at Bury? Shite owner but the EFL allowed an even worse owner rather than have them go bust. And they went bust in the end anyway.
£20m would be a good deal as you could sell it on, but the current owner loses everything so he wouldn't sell for that. I think that is the type of deal on the table.Who would stump up 20 million to own a club that is going to continue losing millions per season unless they get promoted? - Or promoted at least twice if they go down this year.
The EFL allowed them to be sold for £1 to an asset stripper, can't see that being allowed to happen to Wednesday.
What assets did Dale sell off? What disqualified him from being an owner? He didn'trun the club well, but probably took over a bascket case, and could have managed it better, but balming the EFL is pure nonesense.
It is like the family who never work and have 12 kids, and blame the Council for not finding them suitable housing.
He should walk away with whats on offer because he isnt getting knowhere he wants for a club that is basically fooked :( he is waiting for some kind of miracle ??????The owner pumped £10m in on their last accounts to keep them afloat and most of the money they owe is to him. He had probably loaned more since and it will be closer to £70m, but costs going up every season and he is out of cash, and I suspect most of his personal wealth is now tied up in SWFC so he can't afford to write it off and walk away, but not chance it gets wound up either or he loses everything.
The issue is if he sells the club at a fair value he gets a fraction back of what he put in, most likely about half maximum, but any potential buyer can get it cheaper if it folds completely so they are no going to pay a fair price.
What is the solution? The club probably owes £90m now, it is worth half that at a push and no one will pay near that, so if you buy it for £20m the owner gets 0 and loses £70m? There will be vultures interested in the club but they want a dead carcass first.
The only way he gets that money back is if somehow they reach the PL and that would be the miracle of all miracle.
Sorry and i dont care about rules are in place but how many club have gone to the brink or gone under while the EFL etc have stood back at let it happen.
These rules should have been in place decades ago when clubs where going into Admin left right and centre :( ours included but hey let the horse bolt before you do anything.
20 million would be nothing now ...........lets forget they can tap into a fanbase of 30k plus once this loon has gone .............certain clubs fan bases simply unify when the going gets tough and Wednesday will be one of themWho would stump up 20 million to own a club that is going to continue losing millions per season unless they get promoted? - Or promoted at least twice if they go down this year.