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Football & the Financial Crisis

DB9

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Joined
Jun 19, 2005
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24,495
Location
Hampshire. Heart's in N Devon
With all the banks going tits up at the moment i was wondering how this might impact on the Premiersh*te. Liverpool, Man U to name but a few have backers in the US who seem to rely on their banks loaning them money and have got big debts to service.

Liverpool have delayed the building of their stadium because of what's happening and West Ham might be in trouble if the Icelandic bank goes down the pan. Could be a turbulent time for top flight
 

ECFC TOM

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Joined
Apr 22, 2008
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3,637
Location
Heart of the Big Bank
I hope it will be a turbulent time for the big 4, but I doubt it.
 

Lyme Grecian

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Joined
Jan 28, 2008
Messages
591
Location
Dorset
The top teams in the premiership, have gorged themselves on cash
over the last 10/15 years, and they haven't given a sh*t about the
rest of the divisions.
I hope more than one goes under, i wont be shedding any tears.
 

LammieLammieLammie

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Jan 4, 2005
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32,793
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Just like the old days...
Withg the Prem clubs collectively more than £3,000,000,000 in debt, it's bound to happen.

The Prem is like a global circus these days, and I think people will get to a stage where they think enough is enough.

Up the City.
 

GJW

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Joined
Apr 2, 2004
Messages
4,684
Location
Devon
I just wonder how much balls our FA has got if one of them (especially one of the bigger ones) does get into trouble. Will they penalise them appropriately?
 

ECFC TOM

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Joined
Apr 22, 2008
Messages
3,637
Location
Heart of the Big Bank
I just wonder how much balls our FA has got if one of them (especially one of the bigger ones) does get into trouble. Will they penalise them appropriately?
Stupid question really. If Man United were in the sh*t the FA would probably just fine them £25000 or something.
 

Mackster

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Joined
May 22, 2007
Messages
4,133
Location
Maidstone
I do hope West Ham go into Administration as its the only way I can see Spurs getting out of trouble.

Anyone know how the US backers at Liverpool are going to refinance their loan in January as they seem the most obvious club who seem to have been hit by the credit crunch?
 

angelic upstart

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Jul 8, 2004
Messages
27,485
Would I be correct in assuming that the Glazers own Manchester United thanks to a large amount of loans and, in turn, those loans and interest are firmly at the door of the football club itself?
 

newburygrecian

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Joined
Apr 1, 2004
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3,745
Location
Behind the times
You would indeed. The only club with a long-term, fixed rate loan on its debts is, I believe, Arsenal, for the money they needed to build Ashburton Grove.
 

rogerc

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Joined
Jan 6, 2005
Messages
1,081
Location
Taunton
West Ham will be an interesting watch, with an Islandic Chairman, with Islandic money and already on the wrong end of a guarantee as a result of the XL collapse.
 
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