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Championship Clubs On Egg Shells..Stoke !


ollyandpatch

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FROM TODAYS SPORTS PAGE.......

At least three Championship clubs have been earmarked as being under intense scrutiny with regards their financial situations.

Second tier trio Bristol City, Middlesbrough and Stoke City are all said to have proverbial red lights attached to their names with regards their financial health.

The Robins published a record loss of £38.4million in their most recent set of accounts last month.

Under the EFL's profit and sustainability rules, clubs who incur losses of more than £39m over a three-year cycle are subject to a punishment.

This happened recently with Reading. The Berkshire club were docked six points earlier this season after the EFL said the club exceeded permitted losses by £18.8m.

The various financial issues caused by the coronavirus pandemic have left many clubs struggling to fall in line with the requirements of the three-year cycle.

As well as seeing revenues hit due to time playing behind closed doors, the transfer market has also been hit making it harder for clubs to cash-in on players where necessary.

What is your view on how football can become more sustainable? Let us know in the comments

Bristol City's chief executive Richard Gould, speaking to the Telegraph, said of the worrying financial picture at his club: "We've got this big bow wave about to hit us next year on Profit and Sustainability.

"We can see it coming and it's only been brought about because the transfer market has crashed. Otherwise the business plan, which albeit required quite a lot of investment from the owner, was relatively sound."

Gould admits that the club are "probably" going to breach the league rules next year unless they cashed in on their star assets but insisted the club's board are reticent for that to happen.

He says the club are in dialogue with the EFL but that they could end up in a position next season where "maybe we'll just take the points".

He added: "It won’t be just us - all those Championship clubs who have not been in the Premier League recently but have been challenging to get there."

As for Boro and Stoke, the other clubs highlighted in the report, they are in their fifth and fourth seasons outside the Premier League respectively.

Last May the Potters posted huge pre-tax losses of £88m.

In accounts posted to Companies House for the year ending May 31, 2020, Stoke say they were hit hard by a combination of the pandemic and the continued ramifications of relegation from the Premier League.

Joint-chairman John Coates said at the time: "Clearly we've had a Covid-affected year and we didn't take any Governmental help. We guaranteed wages and didn't make redundancies.

"There has been (an increase in debt to the owners). In terms of what our plans are to do with that, clearly it doesn't make great balance sheet reading to have a huge debt like that and we'll continue to look at that and decide what we will and won't do in respect of that.

"However, clearly it is a completely interest free loan that is provided and we remain totally committed to the club. It is owed to the owners and nobody else. In that sense it is a soft debt."

As well as Reading, Derby County were handed points deductions this season.

The Rams were docked 12 points for entering administration before a further nine-point docking for historical financial breaches.

EFL chief executive Trevor Birch said of the financial landscape: "Our job is now to safeguard those clubs for generations to come, and I am encouraged by some of the recommendations put forward as part of the fan-led review, which we hope will deliver a healthier, fairer competition for the long-term.

"The pyramid is the lifeblood of the game - it has endured for over 100 years and we have to ensure its future for the next 100 years.

"If we can achieve what we're aiming for in terms of a sustainable operating model, I believe the EFL has a very strong future."

Microsoft and partners may be compensated if you purchase something through recommended links in this article.
 
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2 hours ago, ollyandpatch said:

FROM TODAYS SPORTS PAGE.......

At least three Championship clubs have been earmarked as being under intense scrutiny with regards their financial situations.

Second tier trio Bristol City, Middlesbrough and Stoke City are all said to have proverbial red lights attached to their names with regards their financial health.

The Robins published a record loss of £38.4million in their most recent set of accounts last month.

Under the EFL's profit and sustainability rules, clubs who incur losses of more than £39m over a three-year cycle are subject to a punishment.

This happened recently with Reading. The Berkshire club were docked six points earlier this season after the EFL said the club exceeded permitted losses by £18.8m.

The various financial issues caused by the coronavirus pandemic have left many clubs struggling to fall in line with the requirements of the three-year cycle.

As well as seeing revenues hit due to time playing behind closed doors, the transfer market has also been hit making it harder for clubs to cash-in on players where necessary.

What is your view on how football can become more sustainable? Let us know in the comments

Bristol City's chief executive Richard Gould, speaking to the Telegraph, said of the worrying financial picture at his club: "We've got this big bow wave about to hit us next year on Profit and Sustainability.

"We can see it coming and it's only been brought about because the transfer market has crashed. Otherwise the business plan, which albeit required quite a lot of investment from the owner, was relatively sound."

Gould admits that the club are "probably" going to breach the league rules next year unless they cashed in on their star assets but insisted the club's board are reticent for that to happen.

He says the club are in dialogue with the EFL but that they could end up in a position next season where "maybe we'll just take the points".

He added: "It won’t be just us - all those Championship clubs who have not been in the Premier League recently but have been challenging to get there."

As for Boro and Stoke, the other clubs highlighted in the report, they are in their fifth and fourth seasons outside the Premier League respectively.

Last May the Potters posted huge pre-tax losses of £88m.

In accounts posted to Companies House for the year ending May 31, 2020, Stoke say they were hit hard by a combination of the pandemic and the continued ramifications of relegation from the Premier League.

Joint-chairman John Coates said at the time: "Clearly we've had a Covid-affected year and we didn't take any Governmental help. We guaranteed wages and didn't make redundancies.

"There has been (an increase in debt to the owners). In terms of what our plans are to do with that, clearly it doesn't make great balance sheet reading to have a huge debt like that and we'll continue to look at that and decide what we will and won't do in respect of that.

"However, clearly it is a completely interest free loan that is provided and we remain totally committed to the club. It is owed to the owners and nobody else. In that sense it is a soft debt."

As well as Reading, Derby County were handed points deductions this season.

The Rams were docked 12 points for entering administration before a further nine-point docking for historical financial breaches.

EFL chief executive Trevor Birch said of the financial landscape: "Our job is now to safeguard those clubs for generations to come, and I am encouraged by some of the recommendations put forward as part of the fan-led review, which we hope will deliver a healthier, fairer competition for the long-term.

"The pyramid is the lifeblood of the game - it has endured for over 100 years and we have to ensure its future for the next 100 years.

"If we can achieve what we're aiming for in terms of a sustainable operating model, I believe the EFL has a very strong future."

Microsoft and partners may be compensated if you purchase something through recommended links in this article.
 

I don't have any love for Stoke, but I don't wish any club out of existence.  It's the 5% of Stoke fans who are decent human beings that I would feel sorry for.  

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I don't have any love for Stoke, but I don't wish any club out of existence.  It's the 5% of Stoke fans who are decent human beings that I would feel sorry for.  
Football is a competitive game, formerly crowd size determined the quality of players and chances of trophies. Now it is sponsorship and very deep pockets. Without constraints the pyramid will collapse. Quite likely a media league with a handful of clubs will break away, but for the rest a competitive structure with reasonable financial limits is required, maybe a few years away. Before then fans of clubs with desperate owners will suffer if gambles fail.

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Paying £18 million for Kevin Wimmer was one of their biggest mistakes. Signed by Mark Hughes and giving him a five year contract on £70,000 a week didn't help either,especially when he only played 17 games for them.

What a waste of money couldn't have been more appropriate?

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1 hour ago, For Us All said:

Paying £18 million for Kevin Wimmer was one of their biggest mistakes. Signed by Mark Hughes and giving him a five year contract on £70,000 a week didn't help either,especially when he only played 17 games for them.

What a waste of money couldn't have been more appropriate?

whose bothered?🙄

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They made the classic error of thinking that they were established in the premier league and couldn`t be relegated. Imbula was another classic, £18m+  a 5 year contract and managed about 20 games, well done young man. There was a whole host of other wastrels and misfits happy to waste their money and then there was that manager who looked like he was going to sign and then came to his senses and did a U-turn. To be fair we were so bad in that period it was more entertaining watching their fall from grace than supporting us.

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On 12/01/2022 at 19:50, Quebec_Valiant said:

I don't have any love for Stoke, but I don't wish any club out of existence.  It's the 5% of Stoke fans who are decent human beings that I would feel sorry for.  

They won’t go out of existence, their owners won’t allow it but a points deduction would be very nice, something on the lines that Derby had. They shouldn’t be allowed to have the losses they have, the EFL must stop this from happening as this is why clubs do go in to administration.

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  • 3 months later...
56 minutes ago, Houston Valiant said:

Speaking of Championship clubs. What’s the game coming to with this silliness.

 

 

 

Post update

Huddersfield 1-0 Barnsley

Nice moment here as the game is briefly brought to a halt to allow Terriers defender Naby Sarr to break his Ramadan fast.

Both teams use the chance to come over to the sidelines and take on some instructions.

Five minutes until the break.

 
 

Not sure I see the problem.

Games are stopped in international tournaments for drinks if it gets too hot.

Absolute non issue unless the problem is a little bit deeper routed.

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Back on topic… I just can’t see how Stoke can get away with their losses in the FFP world.

They played the “allowable covid losses” card more aggressively than most and they absolutely played the game on the valuation of the stadium.

But surely it wouldn’t take anyone particularly impressive from a forensic accounting point of view to pick holes in what they have done.

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49 minutes ago, Conrad said:

It was on RS last week, the Coates family have written off the debt.

Which is great (for them) from saving the club from going bankrupt.

But FFP is based off the P&L and losses made. The debt is a separate issue.

If anyone started scratching the surface of that place I’m pretty sure they would be in trouble. 

In FFP rules you can lose an average of £13m a year over a 3 year period.

They lost £55m last year and £87m the previous season and £15m the year before that.

There are lists of deductibles that are allowed from those numbers by the FFP rules… Stoke claim that they have followed those deductible rules (to the tune of £118m of deductions by my simple maths).

Maybe they have, maybe they haven’t… but my guess is if they got forensically reviewed they would start to sweat.

 

 

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On 14/01/2022 at 18:13, For Us All said:

The Oatcake.

And the pillock who does that tripe Duck thingy. I remember all the hype he made over their U23s playing at Vale.

He was the one who advocated Uncle Michael as manager.

Shows how much he knows about footie

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On 23/04/2022 at 00:19, Iron Curtain said:

Which is great (for them) from saving the club from going bankrupt.

But FFP is based off the P&L and losses made. The debt is a separate issue.

If anyone started scratching the surface of that place I’m pretty sure they would be in trouble. 

In FFP rules you can lose an average of £13m a year over a 3 year period.

They lost £55m last year and £87m the previous season and £15m the year before that.

There are lists of deductibles that are allowed from those numbers by the FFP rules… Stoke claim that they have followed those deductible rules (to the tune of £118m of deductions by my simple maths).

Maybe they have, maybe they haven’t… but my guess is if they got forensically reviewed they would start to sweat.

 

 

I can't see how this is ok. Everyone else who has done this exact same trick has been caught out. You can't get away with stadium sales anymore, I just don't get it 

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