Reports of a L2 club with £30,000,000 of debt and on the verge of going into administration.
http://d3d4football.com/southend-and-gr ... -two-club/" onclick="window.open(this.href);return false;
League Two Related Story
Moderators: Admin, Ralph, asl, Robin
I’m sorry but I have zero sympathy. Clubs are run as businesses at the end of the day and no club in this league should have losses anywhere near that figure and if they do then either they’ve been recently plundered or legally they should’ve gone into liquidation a long time ago as they would potentially have been trading illegally.
Time for the football authorities and HMRC to get serious. If it was any normal business of a similar size it would’ve been wound up long before.
Time for the football authorities and HMRC to get serious. If it was any normal business of a similar size it would’ve been wound up long before.
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RegencyCheltenhamSpa
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I was thinking Mansfield, who have been a moneybags side for years, or Colchester if they still spend like they are a Championship side.asl wrote:Looking at the league table from the bottom upwards, I find it very hard to imagine any of the clubs capable of racking up a £30m debt - until we get to Oldham...
Grimsby would still be bottom if Oldham lost 12 points, and the article implies the indebted side would be bottom.
Whichever of the three it is, none are a loss to the league.
EDIT: just seen this from the other week...
“Colchester: Robbie Cowling confident 'costs tightening' gamble will pay
Colchester chairman Robbie Cowling insists that his decision to keep on top of the club's bills and not defer payments will ultimately benefit the relegation-threatened League Two club.
After losing to Exeter in last season's play-offs in a Covid-19 affected campaign, Cowling tightened finances.
[He] warns warns that other clubs have opted not to keep on top of their finances”
https://www.bbc.co.uk/sport/football/56510275" onclick="window.open(this.href);return false;
If that’s true then I guess it won’t be Colchester.
Mansfield or Oldham it is.
I didn't necessarily read it like that. It sounds to me like the author has no idea who it could be - so it could be anyone. If it's someone close to the bottom, then either of the bottom two could be reprieved.
Of course, it could BE one of the bottom two... I wouldn't put it past either club...
Of course, it could BE one of the bottom two... I wouldn't put it past either club...
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RegencyCheltenhamSpa
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We will wait and see.asl wrote:I didn't necessarily read it like that. It sounds to me like the author has no idea who it could be - so it could be anyone. If it's someone close to the bottom, then either of the bottom two could be reprieved.
Of course, it could BE one of the bottom two... I wouldn't put it past either club...
Maybe it isn’t a bottom club at all and FGR are finally facing the music. They racked up cumulative losses of close to £10m to get in to the League, after all.
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RegencyCheltenhamSpa
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Colchester deny rumours it is them:
https://www.grimsbytelegraph.co.uk/spor ... wn-5277953" onclick="window.open(this.href);return false;
https://www.grimsbytelegraph.co.uk/spor ... wn-5277953" onclick="window.open(this.href);return false;
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RegencyCheltenhamSpa
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Who famously only works for well run clubsRed Duke wrote:Maybe not Southend as they have sacked their manager Mark Moseley and appointed Phil Brown as his replacement.
Good thread on The Fishy about this:
https://forum.thefishy.co.uk/Blah.pl?m- ... 775/s-all/" onclick="window.open(this.href);return false;
They start off convinced it's Colchester - but they seem to end up talking themselves out of it and they have a poster who 'knows' it's Oldham.
Obviously such knowledge is taken with as big as pinch of salt as any other poster's 'knowledge' about matters they really only have 'guesses' about.
https://forum.thefishy.co.uk/Blah.pl?m- ... 775/s-all/" onclick="window.open(this.href);return false;
They start off convinced it's Colchester - but they seem to end up talking themselves out of it and they have a poster who 'knows' it's Oldham.
Obviously such knowledge is taken with as big as pinch of salt as any other poster's 'knowledge' about matters they really only have 'guesses' about.
How on earth does a League 2 club rack up that debt. Must be years and years of accumulation. So, who has been a barmpot club for years...
I'm assuming it's a club that has fallen through the leagues...would Bolton be a stupid idea?
Edit: Yes, I'd forgotten they already went into administration a couple of years ago.
I'm assuming it's a club that has fallen through the leagues...would Bolton be a stupid idea?
Edit: Yes, I'd forgotten they already went into administration a couple of years ago.
Colchester United balance sheet (30th June 2020).
https://ibb.co/GQk5rmv" onclick="window.open(this.href);return false;
https://ibb.co/GQk5rmv" onclick="window.open(this.href);return false;
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RegencyCheltenhamSpa
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Shame that Robin is unable to post as normal currently. I am sure he would be able to confirm the team and the precise breakdown of the finances.asl wrote:Good thread on The Fishy about this:
https://forum.thefishy.co.uk/Blah.pl?m- ... 775/s-all/" onclick="window.open(this.href);return false;
They start off convinced it's Colchester - but they seem to end up talking themselves out of it and they have a poster who 'knows' it's Oldham.
Obviously such knowledge is taken with as big as pinch of salt as any other poster's 'knowledge' about matters they really only have 'guesses' about.
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bigdavejambo
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- Joined: 27 Nov 2009, 22:46
Oldham were close to administration just after christmas i believe.
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RegencyCheltenhamSpa
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Think your money is safe. Bolton will be third. Second if they catch Cambridge.Shade wrote:Let's not, I'm on for £150 if they finish top 3vickeryc wrote:Let's hope it's Bolton!