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  #1  
Old 03-09-2009, 10:09 PM
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West Ham in the financial doo doo

Seems it's not just ourselves who are suffering but some of our illustrious premiership neighbours are also finding times tough at present?

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Old 03-09-2009, 10:26 PM
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At that time the annual wage bill amounted to 63.3m on turnover of 81.5m, a ratio of almost 78% that the club recognises as being "unsustainable". Only the removal from the wage bill of players such as Craig Bellamy, Anton Ferdinand, Bobby Zamora and Matthew Etherington has allowed the club to continue trading.

amazing that wages haven't been capped yet. Will it take a big club to fold before something gets done? If they paid everyone half they would be doing much better. 100 million is a lot of debt.
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Old 03-09-2009, 10:27 PM
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They'll never win us another world cup like that
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Old 03-09-2009, 10:38 PM
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That's a lot of whelks to sell to make up them bad loans...caw blimey gov..darn the shelters quick
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Old 03-09-2009, 10:39 PM
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I hate to see clubs in these kind of financial problems, but, I recall that they offered Lucus O'Neill something like 75k a week in wages. That is pure madness and they can only blame themselves for that. I was also surprised to see that Zamora and Etherington were that high earners.
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Old 03-09-2009, 11:13 PM
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The most alarming part is that the above mentioned Bobby Zamora and Matthew Etherington are now being employed (and paid) by Fulham and Stoke. Whilst not poor, these clubs are not what you'd call financial powerhouses; WHUFC must need to be very tight at the minute.
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Old 04-09-2009, 05:26 PM
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Originally Posted by elgin eagle
amazing that wages haven't been capped yet. Will it take a big club to fold before something gets done?
Fat chance. Leeds United went tits and no one in the football hierarchy batted a ******* eyelid.

The only way to stop clubs going out of business is to impose a mandatory maximum percentage (of footballing revenues) wage bill. The only way to make football a competitive sport is to impose a sensible mandatory maximum absolute wage bill.

We might get the former if Uefa get up a head of steam, what the game really needs the latter - and we all know we might as well whistle.
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Old 04-09-2009, 09:01 PM
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Old 04-09-2009, 09:18 PM
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Portsmouth were acting the same way, or worse.

Peter Storrie has said that about 3 times in the last few months they were a gnats chuff away from going into Administration.

It's ridiculous. All these clubs living way beyond their means - running to stand still is what it is.

None of them will get within a country mile of winning the league and will maybe qualify once every ten years to play in a European tournament that nobody gives a stuff about.

Completely pointless.
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Old 04-09-2009, 09:28 PM
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Something has got to give in football. It can't carry on the way it is.
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Old 04-09-2009, 10:13 PM
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Yeah really, its like the housing and financial markets but worse, one day the wheels are going to have to come off, will probably have to be one of the big 4 to have a real impact though....
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Old 04-09-2009, 10:46 PM
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Quote:
Originally Posted by DANGERMOUSE
Fat chance. Leeds United went tits and no one in the football hierarchy batted a ******* eyelid.

The only way to stop clubs going out of business is to impose a mandatory maximum percentage (of footballing revenues) wage bill. The only way to make football a competitive sport is to impose a sensible mandatory maximum absolute wage bill.

We might get the former if Uefa get up a head of steam, what the game really needs the latter - and we all know we might as well whistle.
Maybe so but wouldn't this just benefit the bigger clubs like Manure anyway?

I know the smaller clubs do take these risks but surely it's only because they want to compete with the bigger clubs?

Also, how will this affect English clubs in Europe? Surely the big spenders like Real Madrid & Barcelona will only benefit from a wage cap in this country?

I think there has to be a lot of thought put into this than just crying out for a simple wage cap. Football is an international game, how would you wage cap clubs in Saudi Arabia for example? or Africa?
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Old 05-09-2009, 02:52 AM
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We've been saying this for seven or eight years though, and yet it goes on.
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Old 05-09-2009, 05:24 AM
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Old 05-09-2009, 06:29 AM
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We've been saying this for seven or eight years though, and yet it goes on.
Indeed. And this is what worries me. Surely if things were going to get better, something would have happened by now or at least some small steps would have been taken.

Yet, in my opinion, its steadily getting worse.
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Old 05-09-2009, 10:32 AM
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Maybe so but wouldn't this just benefit the bigger clubs like Manure anyway?

I know the smaller clubs do take these risks but surely it's only because they want to compete with the bigger clubs?

Also, how will this affect English clubs in Europe? Surely the big spenders like Real Madrid & Barcelona will only benefit from a wage cap in this country?

I think there has to be a lot of thought put into this than just crying out for a simple wage cap. Football is an international game, how would you wage cap clubs in Saudi Arabia for example? or Africa?
But the big clubs are already benefitting under the present system! How many clubs which aren't Manure, Chelsea, Arsenal or Liverpool have won the League or Cup since 1992? The whole set up is designed to serve their purpose - and what's worse, clubs are forced to be permanently on the edge of insolvency not to compete in the title race but simply to avoid relegation.

As for Europe - sod it. The European competitions stopped being about sport when the 'Champions' League was instituted - it is just another stitch-up to cement the big clubs' financial supremacy.

And I'm sure the rest of the world would much prefer it if the stupendous wages on offer in Europe didn't cause them to lose all their best players.

Football has reached the financial crisis point which it's been building to this past decade or more. Desperate measures are necessary to solve it.
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Old 05-09-2009, 01:58 PM
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My 'second' club Accrington Stanley look like they'll be forced to resign from the league in 8 weeks time..they've been shafted by the Football League who changed their ground criteria rules last December, forcing Stanley to install an additional 1500 seats but refusing to give the club more than 5 months on which to complete the work - this despite the fact that the ground already had 2000 seats yet only 1100 average attendances. Then the tax office gave backword on an agreement to allow Stanley 12 months in which to clear a 300k bill....the club having used the money set aside to pay the tax bill in order to fund the purchase and instalation of the seats. The tax office now want the bill settled in 8 weeks due to a change in club ownership.

Last edited by TWOSEAT EAGLE; 05-09-2009 at 02:01 PM.
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Old 05-09-2009, 01:58 PM
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Quote:
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But the big clubs are already benefitting under the present system! How many clubs which aren't Manure, Chelsea, Arsenal or Liverpool have won the League or Cup since 1992?
Blackburn and Pompey

But your post is spot on, football is absolutely mad.
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Old 05-09-2009, 03:12 PM
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Quote:
Originally Posted by TWOSEAT EAGLE
My 'second' club Accrington Stanley look like they'll be forced to resign from the league in 8 weeks time..they've been shafted by the Football League who changed their ground criteria rules last December, forcing Stanley to install an additional 1500 seats but refusing to give the club more than 5 months on which to complete the work - this despite the fact that the ground already had 2000 seats yet only 1100 average attendances. Then the tax office gave backword on an agreement to allow Stanley 12 months in which to clear a 300k bill....the club having used the money set aside to pay the tax bill in order to fund the purchase and instalation of the seats. The tax office now want the bill settled in 8 weeks due to a change in club ownership.

Rumour has it that Burnley are willing to play a friendly at Turf Moor against Accrington Stanley to help Accrington out with their financial problems.
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Old 05-09-2009, 03:20 PM
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Rumour has it that Burnley are willing to play a friendly at Turf Moor against Accrington Stanley to help Accrington out with their financial problems.
Whilst a deafening silence comes from the likes of Man Ure and Liverpool. That really says it all for me.
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