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Thread: The Insanity of English Football

  1. #1
    JPaul's Avatar Fat Secret Agent
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    A further sign of the acute financial predicament of the English game was posted yesterday when Manchester United's parent company, Red Football Joint Venture, published their accounts for season 2007-2008, when the club won both league and Champions League.

    Turnover rose by 20% to 256.2m, levels never previously seen by an English club, but despite making a remarkable 20m profit on transfer deals (the full value of the Tevez purchase was not recognised in these accounts), they still made a loss of 44.8m, with debt rising to 692m.

    While interest rates are falling for most of the world, Manchester United are stuck with Payment in Kind loans at a rate of 14.25%, the outstanding value of which rose from 152m to 175.5m during the season as the company was unable to find alternative finance. Again.

    As with most the clubs in the FA Premier League, Manchester United are a bloated monolith. The current business model is unsustainable, debts are rapidly approaching three times turnover and unless significant player sales occur, debt will continue to rise for years to come.

    Interest payments totalled 68.8m and that is just to keep the debt standing still. It will take a generation of penance to meet interest payments and pay down the loans to get the club within striking distance of where it was before the Glazers took over.

    And let's not forget, this is without the football income bubble bursting!
    http://www.celticquicknews.co.uk/200...glish-foot.php

    Fuck.

  2. Lounge   -   #2
    Cabalo's Avatar FileSharingTalker BT Rep: +24BT Rep +24BT Rep +24BT Rep +24BT Rep +24
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    real madrid suffers from the same problem. clubs will have to make serious investments in their youth schools during the next years, or the whole international transfers structure may crumble.

  3. Lounge   -   #3
    JPaul's Avatar Fat Secret Agent
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    Real Madrid Revenues To Hit All-Time High

    The world's most profitable football club continue to triumph over the global credit crunch, and with flying marks...
    31 Mar 2009 17:57:09

    Businesses around the world have been shedding tears ever since early September, when the global financial crisis took its toll on the world's largest corporations. The same can't be said about Real Madrid though, who released their financial expectations for the 2008-09 season to reveal some shocking revelations.

    According to a report released by Agence France-Presse, Real Madrid have announced that they are expecting a record 407 million in revenue by June, up from 366 million during the same time last year.

    Even more impressive, pre-tax profits are expected to rise to a whopping 58 million. This would see Real Madrid emerge as the world's highest earner in terms of both revenue and profit.

    As for the club debts, which have been a controversial issue ever since the infamous 'Galatico' Era, they are expected to drop to 125 million, a world-record 37.5 per cent decrease in total.
    http://www.goal.com/en/news/1705/rea...-all-time-high

    Not really the same situation I wouldn't have thought. Not by a long way.

  4. Lounge   -   #4
    Biggles's Avatar Looking for loopholes
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    In accountancy speak "it will all end in tears".
    Cogito cogito ergo cogito sum


  5. Lounge   -   #5
    JPaul's Avatar Fat Secret Agent
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    Quote Originally Posted by Biggles View Post
    In accountancy speak "it will all end in tears".
    You and your jargon.

    Explain it for the hoi polloi.

  6. Lounge   -   #6
    Something Else's Avatar sex a wolf in a bag BT Rep: +70BT Rep +70BT Rep +70BT Rep +70BT Rep +70BT Rep +70BT Rep +70BT Rep +70BT Rep +70BT Rep +70BT Rep +70BT Rep +70BT Rep +70BT Rep +70
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    Quote Originally Posted by Biggles View Post
    In accountancy speak "it will all end in tears".
    Does that mean we'll have to won the league cup every year?

    As long as we get 100 for Nani i'll be happy.


  7. Lounge   -   #7
    Biggles's Avatar Looking for loopholes
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    It will be Gretna all over again.
    Cogito cogito ergo cogito sum


  8. Lounge   -   #8
    Alien5's Avatar μετά BT Rep: +6BT Rep +6
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    Do you wish that Sky TV hadn't ruined English Football?
    Ever since they've had the monopoly of the Premiership/ league football has moved away from it's roots of being the working class mans sport to the businessmans box/ mega expensive rich mans sport it is today. I for one wish they'd never existed.

    http://uk.answers.yahoo.com/question...8020422AASC5by

  9. Lounge   -   #9
    Something Else's Avatar sex a wolf in a bag BT Rep: +70BT Rep +70BT Rep +70BT Rep +70BT Rep +70BT Rep +70BT Rep +70BT Rep +70BT Rep +70BT Rep +70BT Rep +70BT Rep +70BT Rep +70BT Rep +70
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    I think it's all Jade Goody's fault.


  10. Lounge   -   #10
    Alien5's Avatar μετά BT Rep: +6BT Rep +6
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    You would say that.

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