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Plenty of people live the high life off other people's money. Stewart Day is one such person. People like him manage alternative investments: hotels, student accommodation, storage pod companies, Caribbean timeshares, that sort of thing.

 

They are Unregulated Collective Investment Schemes and they are mis-sold by unscrupulous IFAs to people for whom they aren't appropriate. People transfer their savings, their SIPPs into them with the promise of high yields but don't get the risks explained to them.

 

Some of this money has found its way into football. Bury's previous owner seems to have made money this way but the pyramid has crashed down on top of him. It wouldn't surprise me if other football clubs closer to home have had similar money passing in (or through) them.

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  • 2 weeks later...
Football is rapidly becoming a web of entangled dodgy businessmen. There isn't an industry on the planet with less regulation.

 

Oh come on. UK fire regulations and Bangledesh factory regulations are both obviously worse.

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And while all this **** is going on what are the EFL doing? #EFL have just commissioned some frames of players previously from the lower leagues who played for England recently & presented them to Gareth Southgate. They’re doing a spiffing job

 

https://t.co/eRdnXDg6ja

 

The fit and proper test, with its weaknesses, is the only control. It comes at the front end of the process. So once the owner is in control, and the club is in competition, then the club under the control of the owner has to comply with the rules. Those rules include financial fair play. The sanctions in competition only apply to the club. But of course the club is a corporate entity and a sports club, whilst the owner is a separate individual. There is nothing the Football League can do to remove the owner. All they can do is penalize the club, the owners property, for breaching the competition rules. So the situation, from the fan's point of view, the community interest, can become absolutely hopeless. It happens quite regularly, and a reason is that lower league clubs are not really viable businesses and owners take over for non business reasons or reckless business reasons. I really like Bury, the fans Bury, and I hope they get through this somehow.

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That might be the case but if said scumbag called a ref an f in cheat he’d face a massive fine. Owners should have to lodge bonds of say 500k with the EFL to safeguard people’s income.

They can do something they just don’t want to.

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