The financial crisis hits football ...

AboveTheSalt · 07-10-2008, 19:48

Quote:

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.
...
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)

Excellent news, cold Chardonnay and prawn sandwiches all round!

cheets · 07-10-2008, 20:05

If one of those 3 don't qualify for the CL, then I wouldn't like to think what would happen.

btw your sig is wrong cuckoo clock is a German invention.

Haly · 07-10-2008, 20:09

Quote:

Originally Posted by cheets

btw your sig is wrong cuckoo clock is a German invention.

It's a line from The Third Man so you'd have to blame Graham Greene for that one

Mark · 07-10-2008, 20:19

I'd grab some popcorn, but save a few clubs that were already in trouble I think the worst that'll happen is some purse strings get tightened.

I doubt the imminent likely demise of JJB Sports will help though.

cheets · 07-10-2008, 21:07

Whelan sold at the perfect time, £190 million in the bank.

Stan_Lite · 08-10-2008, 05:06

I fail to see how imminent financial crisis for some of the country's biggest clubs is "excellent news"

If the money drops out of the Premiership, the national sport will suffer and many people will lose their jobs.

I'd say it was tragic.

Admiral Huddy · 08-10-2008, 08:52

Still hope for Spurs then

BBx · 08-10-2008, 09:27

Oh gnoes!

I'm sure if the players pool their pay packets together they will be fine.

BB x

Greenlizard0 · 10-10-2008, 17:12

I think it's about time that clubs sort out their debts. It's quite lucky that one of the biggest driving forces at Arsenal is a graduate economist (Wenger) so he knows about balencing the books and what not.

cheets · 10-10-2008, 19:08

Quote:

Originally Posted by Greenlizard0

I think it's about time that clubs sort out their debts. It's quite lucky that one of the biggest driving forces at Arsenal is a graduate economist (Wenger) so he knows about balencing the books and what not.

He has to now because of the Stadium debt.

08-10-2008, 05:06	#6
Stan_Lite Stan, Stan the FLASHER MAN! Join Date: Jul 2006 Location: In bed with your sister Posts: 5,483	I fail to see how imminent financial crisis for some of the country's biggest clubs is "excellent news" If the money drops out of the Premiership, the national sport will suffer and many people will lose their jobs. I'd say it was tragic. __________________ Just because I have a short attention span doesn't mean I...

08-10-2008, 08:52	#7
Admiral Huddy HOMO-Sapien Join Date: Jun 2006 Location: Chelmsford Posts: 6,692	Still hope for Spurs then __________________ I just got lost in thought.. It was very unfamiliar territory. Techie Talk \| My gaming Blog \| PC spec \| The Admirals log

10-10-2008, 17:12	#9
Greenlizard0 Vodka Martini Join Date: Jun 2008 Posts: 717	I think it's about time that clubs sort out their debts. It's quite lucky that one of the biggest driving forces at Arsenal is a graduate economist (Wenger) so he knows about balencing the books and what not. __________________

07-10-2008, 20:05	#2
cheets Long Island Iced Tea Join Date: Sep 2008 Posts: 442	If one of those 3 don't qualify for the CL, then I wouldn't like to think what would happen. btw your sig is wrong cuckoo clock is a German invention.

07-10-2008, 20:19	#4
Mark Screaming Orgasm Join Date: Jul 2006 Location: Newbury Posts: 15,194	I'd grab some popcorn, but save a few clubs that were already in trouble I think the worst that'll happen is some purse strings get tightened. I doubt the imminent likely demise of JJB Sports will help though.

07-10-2008, 21:07	#5
cheets Long Island Iced Tea Join Date: Sep 2008 Posts: 442	Whelan sold at the perfect time, £190 million in the bank.

08-10-2008, 09:27	#8
BBx Reverse SuBo Join Date: Jul 2006 Location: London Posts: 8,673	Oh gnoes! I'm sure if the players pool their pay packets together they will be fine. BB x