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Post by Thor on Mar 22, 2024 9:32:43 GMT
OMG! How is that sustainable? Whilst the article below blames the previous owners via comments from the club, it once more highlights the need for greater control of who is allowed to run a football club. I recall either Nigel or Kent talking about placing a bond which sorts out the men from the boys as you can't put up what you ain't got. If the club hits troubled times this money is ring-fenced and used to help it out or something like that. When will football get its house in order? Today I read Chelsea are gonna fail FFP next year without fail, despite all the money awash at that level. Tighter controls over expenditure have to be brought in and harsh punishments for clubs who break them, not 10 points but certain relegation which would in my opinion focus owners minds to do the right thing. footballleagueworld.co.uk/alarming-wigan-athletic-financial-news-emerges/ |
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Post by mrb on Mar 22, 2024 10:57:48 GMT
For a league 1 team that is massive!! How can they ever pay that back..It’ll just keep mounting up
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Post by dohnut on Mar 22, 2024 11:56:44 GMT
I guess if clubs have billionaire owners chasing the promised land. £17.5 million is small change, money they can recoup from other business ventures quite easily. But I agree that controls need to be better and the distribution of wealth fairer. Controls first or extra money won’t be spent wisely.
The issue with controls are complex. All to easy to create an even wider gap between bigger clubs able to legitimately spend vast sums of money that the smaller clubs can only drool over. So it’s not only about what is spent, but how.
The other side of the coin being that if I was a multi-billionaire owner what right has the FA to stop me giving vast sums of money to my club (giving not loaning) in order to chase the dream. Would I not have the right to spend my money as I see fit? Complex situation. But one we don’t seem close to resolving.
Imagine a multi-billionaire becoming interested in Orient. I wonder just how many of us would object to the creation of a modern 20,000 all seater stadium with growth potential at a cost of say £100 million? Owned by the club. Plus donations enabling us to bring in top players. But with sensible financial controls and management like now, not like the previous owner!
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Post by redshank on Mar 22, 2024 12:07:23 GMT
I guess if clubs have billionaire owners chasing the promised land. £17.5 million is small change, money they can recoup from other business ventures quite easily. But I agree that controls need to be better and the distribution of wealth fairer. Controls first or extra money won’t be spent wisely. The issue with controls are complex. All to easy to create an even wider gap between bigger clubs able to legitimately spend vast sums of money that the smaller clubs can only drool over. So it’s not only about what is spent, but how. The other side of the coin being that if I was a multi-billionaire owner what right has the FA to stop me giving vast sums of money to my club (giving not loaning) in order to chase the dream. Would I not have the right to spend my money as I see fit? Complex situation. But one we don’t seem close to resolving. Imagine a multi-billionaire becoming interested in Orient. I wonder just how many of us would object to the creation of a modern 20,000 all seater stadium with growth potential at a cost of say £100 million? Plus donations enabling us to bring in top players. But with sensible financial controls and management like now, not like the previous owner! Could happen but it certainly needs some order for the game to be competitive,used to be Everton years back who had the millionaire owners.Some are asking how can they pay for their new stadium. |
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Post by theydonorient on Mar 22, 2024 12:18:54 GMT
Makes our £3.9m loss seem really small.
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Post by dohnut on Mar 22, 2024 12:21:18 GMT
I guess if clubs have billionaire owners chasing the promised land. £17.5 million is small change, money they can recoup from other business ventures quite easily. But I agree that controls need to be better and the distribution of wealth fairer. Controls first or extra money won’t be spent wisely. The issue with controls are complex. All to easy to create an even wider gap between bigger clubs able to legitimately spend vast sums of money that the smaller clubs can only drool over. So it’s not only about what is spent, but how. The other side of the coin being that if I was a multi-billionaire owner what right has the FA to stop me giving vast sums of money to my club (giving not loaning) in order to chase the dream. Would I not have the right to spend my money as I see fit? Complex situation. But one we don’t seem close to resolving. Imagine a multi-billionaire becoming interested in Orient. I wonder just how many of us would object to the creation of a modern 20,000 all seater stadium with growth potential at a cost of say £100 million? Plus donations enabling us to bring in top players. But with sensible financial controls and management like now, not like the previous owner! Could happen but it certainly needs some order for the game to be competitive,used to be Everton years back who had the millionaire owners.Some are asking how can they pay for their new stadium. The financing of large facilities is complex. Our company had built a new automated warehouse and offices. The land and the building were not owned by us but the company agreed a rental period over I think 20 plus years with renegotiation clauses. So the company got modern facilities at an annual rental that was affordable. The landlords took the initial financial hit but were guaranteed income over a long period of time and of course retained ownership of the buildings and land which increased in book value. So when we talk of £100 million cost, that cost may well be split over 50 years or so, even longer. West Ham have a contract with the London Stadium for 100 years I recall. little doubt there are many institutions willing and able to finance such a venture and take a long term view. Such bodies generally look long term. So I suspect for us the issue is not the £100k but the annual cost of financing such a loan. |
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