rob237 89 Posted January 20, 2010 Report Share Posted January 20, 2010 "...Debts at the parent company of Manchester United have increased to £716.5m ($1.17bn), according to its latest accounts..." http://news.bbc.co.uk/1/hi/business/8470595.stm How on earth can that level of debt be tolerated by the footballing powers? Compare Portsmouth FC, who are in real danger of extinction for having a debt miniscule to Man U! Pompey debt owed to HMRC, and other clubs...seems mega debts to American owners are tolerable, but why? Cheers Robt P. Quote Link to post Share on other sites
Beefsteak 305 Posted January 20, 2010 Report Share Posted January 20, 2010 I asked this very same question to somebody last night and was told "It's managed debt" ie the funds are always there to pay the creditors,and they don't owe to the important people , ie the tax man. Where Portsmouth (and Notts for that matter) have gone wrong is that they owe unpaid tax. (In Man U and the others of their ilks case they can write a lot of it off to tax, and get a refund !!!! The FA took the TV funds from them to pay their creditors who themselves would be in dire straites money wise if it were not for an emergency cash boost!! Quote Link to post Share on other sites
denshaw 2,869 Posted January 20, 2010 Report Share Posted January 20, 2010 The Glazier family took a large amount for consultancy fees. Quote Link to post Share on other sites
denshaw 2,869 Posted January 20, 2010 Report Share Posted January 20, 2010 Bruce Forsyth is a Man United fan. !rotfl! Quote Link to post Share on other sites
FLY2 10,108 Posted August 27, 2019 Report Share Posted August 27, 2019 Sad to say that two of the leagues oldest clubs look doomed this evening, as takeover talks fail, and both plunge into insolvency. Bury FC, and Bolton Wanderers fans have my deepest sympathy. I've been to both clubs many times, and the loyal fans don't deserve this. A sad day indeed. 1 1 Quote Link to post Share on other sites
benjamin1945 16,118 Posted August 27, 2019 Report Share Posted August 27, 2019 And the greed in our game is reponsible,, probably a weeks wages from many a premiership player,,would save em,, The lion of Vienna"" will be turning in his grave,,to say nothing of the poor supporters, who died at the Burnden park disaster,, 1 Quote Link to post Share on other sites
FLY2 10,108 Posted August 27, 2019 Report Share Posted August 27, 2019 Exactly Ben. The Premiership players have a lot to answer for. Greed and avarice prevail I'm afraid. Quote Link to post Share on other sites
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