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Post by stealth1039 on Mar 26, 2009 18:10:00 GMT
news.bbc.co.uk/sport1/hi/football/7965152.stmLord Mawhinney thinks it likely that a premiership club will find the recession hard to tackle, won't be saved & will shoot in to administration. I certainly agree with his comment about the absurdity of borrowing money to buy a club with the club itself being the only equity but will it actually lead to a club going broke?
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Post by Lukiebakercafc on Mar 26, 2009 18:32:17 GMT
I'm not sure a Prem club will go into administration tbh - there'll always be someone willing to buy a Premiership club when they have the opportunity.
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Post by stealth1039 on Mar 26, 2009 19:37:42 GMT
I think you're probably right Luke - although apparently Pompey are for sale at just £35m and can't find a buyer. It is also going to take one hell of a rich individual or consortium to buy out something like Man U's £750m worth of debt!
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Post by Lukiebakercafc on Mar 26, 2009 20:02:12 GMT
Good points and you never know. It might give the FA the wake-up call they need about the financial state of Football if a Prem club did go under.
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Post by tigertiger on Mar 26, 2009 20:16:01 GMT
Luckily Hull are the only team in the premier league to have no debt
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