| MK Dons losing £63K per week - £16m in Debt 19:54 - Jul 6 with 3832 views | 49thseason |
Now over £16m in debt (underwritten by owners).
Sheffield Wednesday lost £23m in 2019/20 now £99m in debt
I have the sense that as much as we are struggling, there are plenty of clubs much worse off right up to the Premiership... Newcastle accounts not filed , and have asked for a time extension, Crystal Palace accounts now overdue ,
I wonder how many clubs didn't chop their overheads and thought they would be able to manage? Pity the EFL has tin ears and no claws. They really need to get a grip.
https://mobile.twitter.com/KieranMaguire/status/1412304781016698885 |  | | |  |
| MK Dons losing £63K per week - £16m in Debt on 20:09 - Jul 6 with 3776 views | SuddenLad |
£99 million in debt. Bottomley says that would keep us going for nearly a full season.
More seriously, the question has to be HOW have they been allowed to incur that level of debt AND STILL be trading and operating? Is the EFL culpable for not stepping in sooner?
There are doubtless many other clubs in financial difficulty, some despite their best efforts, but others are probably there through reckless spending and now it's coming to light.
Figures such as these must make the EFL start to question their role in all this. Too weak by half. |  |
| “It is easier to fool people, than to convince them that they have been fooled†|
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| MK Dons losing £63K per week - £16m in Debt on 20:33 - Jul 6 with 3657 views | EllDale |
I know that it’s covered by owners’ guarantees in theory but how does their bank allow this sort of debt to accumulate? |  | | |
| MK Dons losing £63K per week - £16m in Debt on 20:33 - Jul 6 with 3651 views | jonahwhereru |
Don’t laugh but I predicted the Dale would finish 14th last season, but part of my thinking was that 3 or 4 clubs would be hit with points deductions due too financial stress.
In the worst possible financial season, especially in the EFL clubs, there were less clubs going into administration than in those previous. Can’t help but think there was a more flexible approach taken to clubs in financial stress. The issues of several clubs may have been overlooked or an unofficial moratorium agreed.
In any event would appear the difficulties of last season are coming home to roost. | | | |
| MK Dons losing £63K per week - £16m in Debt on 20:34 - Jul 6 with 3647 views | 1907 |
Reading are absolutely up to their eyes & funnily enough we’re one of the clubs that moron Bottomley used in his pathetic little PowerPoint during the EGM. | | | |
| MK Dons losing £63K per week - £16m in Debt on 23:17 - Jul 6 with 3300 views | DaleFan7 |
You've also got to question the auditors that have allowed these clubs to continue as going concerns. | | | |
| MK Dons losing £63K per week - £16m in Debt on 00:06 - Jul 7 with 3183 views | Sandyman |
| MK Dons losing £63K per week - £16m in Debt on 20:33 - Jul 6 by EllDale |
I know that it’s covered by owners’ guarantees in theory but how does their bank allow this sort of debt to accumulate? |
"Owners guarantees" at (radio) Bolton were fine, until the owner passed away and then...
Edit: Would laugh heartily if MKFranchise went to the wall, and a glorious moment of schadenfreude for the real Wimbledon fans. [Post edited 7 Jul 2021 0:49]
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| MK Dons losing £63K per week - £16m in Debt on 06:06 - Jul 7 with 3007 views | Nigeriamark |
| MK Dons losing £63K per week - £16m in Debt on 20:33 - Jul 6 by jonahwhereru |
Don’t laugh but I predicted the Dale would finish 14th last season, but part of my thinking was that 3 or 4 clubs would be hit with points deductions due too financial stress.
In the worst possible financial season, especially in the EFL clubs, there were less clubs going into administration than in those previous. Can’t help but think there was a more flexible approach taken to clubs in financial stress. The issues of several clubs may have been overlooked or an unofficial moratorium agreed.
In any event would appear the difficulties of last season are coming home to roost. |
I had the same thoughts as you. However a number of clubs still sold season tickets last year & the fans may not have received all or part of it back during the year. Also Furlough & government support will have helped at lower levels + some sponsorship deals would have still been valid from previous years. Some clubs will now need to offer discounts or even "free" season tickets this year. As a result it could be this season that sees a number of clubs fold as the point of collapse was only delayed a year.For all of the stick the current board got, up to COVID the normal operating business for the 2 years they were in charge was probably better than under the 2 years before. COVID will be a disaster for all EFL clubs, but those with massive operating losses that were building up well before COVID will be much worse off than us
The whole debt situation is primarily because of players wages ( some clubs were paying over 130% of turnover just on wages).The scrapping of the salary cap idea was a missed opportunity & until players & agents fees are addressed nothing will change. I actually hope COVID pushes a few clubs over the edge, because unless there is a wake up call, clubs are going to put future sustainability second behind focusing of the current season only |  | | |
| MK Dons losing £63K per week - £16m in Debt on 08:46 - Jul 7 with 2792 views | Dalenet |
| MK Dons losing £63K per week - £16m in Debt on 06:06 - Jul 7 by Nigeriamark |
I had the same thoughts as you. However a number of clubs still sold season tickets last year & the fans may not have received all or part of it back during the year. Also Furlough & government support will have helped at lower levels + some sponsorship deals would have still been valid from previous years. Some clubs will now need to offer discounts or even "free" season tickets this year. As a result it could be this season that sees a number of clubs fold as the point of collapse was only delayed a year.For all of the stick the current board got, up to COVID the normal operating business for the 2 years they were in charge was probably better than under the 2 years before. COVID will be a disaster for all EFL clubs, but those with massive operating losses that were building up well before COVID will be much worse off than us
The whole debt situation is primarily because of players wages ( some clubs were paying over 130% of turnover just on wages).The scrapping of the salary cap idea was a missed opportunity & until players & agents fees are addressed nothing will change. I actually hope COVID pushes a few clubs over the edge, because unless there is a wake up call, clubs are going to put future sustainability second behind focusing of the current season only |
Agree with all of that. The furlough scheme, deferred tax and bounce back loans were all used as sticking plasters. As soon as the deferred tax bills arrive and the loan repayments start they will struggle. Although we shouldn't forget that RAFC also needed to borrow cash too.
Even before the proposed salary caps, there was allegedly a 70% (?) maximum cap for salaries for lower league clubs that many seemed to bypass. With the constant change of owners, that come in with short term cash injections, many clubs find a new crest of a wave to ride. But at some point the wave crashes down and there is no new one behind it. I would love to know how many of the EFL clubs have been owned by the same owner/structure consistently over the past 20 years and how many have been able to wash their face over the same period. I guess it would be less than 10. Its a miracle really that we have survived in this format for so long during this period of extravagance. | | | |
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| MK Dons losing £63K per week - £16m in Debt on 13:03 - Jul 8 with 2283 views | judd |
Salford lost £65k per week in their first season in EFL |  |
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| MK Dons losing £63K per week - £16m in Debt on 13:06 - Jul 8 with 2257 views | Dalenet |
| MK Dons losing £63K per week - £16m in Debt on 13:03 - Jul 8 by judd |
Salford lost £65k per week in their first season in EFL |
It makes you laugh doesn't it when Gary Neville uses his football pundit TV role to criticise the Premier League for not creating a level playing field. Ambition will always trump sense in football without further regulation. | | | |
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