07-10-2008, 19:48
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#1
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Long Island Iced Tea
Join Date: Sep 2008
Posts: 274
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The financial crisis hits football ...
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Football Association chairman Lord Triesman believes the global credit crisis could pose a "terrible danger" to clubs dealing with spiralling debts. Against the backdrop of such a volatile financial climate, Triesman estimates English clubs owe an estimated £3bn.
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Liverpool, Chelsea and Manchester United [are] believed to account for a third of that £3bn debt.
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West Ham are battling claims Iceland's second-biggest bank Landsbanki going into receivership.
(Link)
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Excellent news, cold Chardonnay and prawn sandwiches all round!
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Quote:
In Italy for 30 years under the Borgias they had warfare, terror, murder, and bloodshed, but they produced Michelangelo, Leonardo da Vinci, and the Renaissance.
In Switzerland they had brotherly love - they had 500 years of democracy and peace, and what did that produce? The cuckoo clock.
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