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Alex Rover

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Posts posted by Alex Rover

  1. On 01/07/2020 at 21:07, Alex Rover said:

    For a layman (me) is there any reason (financially?) that someone would take over a business with the intention to immediately declare administration?

     

    11 hours ago, Tom said:

    There’s a video on Twitter that is meant to be of Rick Parry (can only see his horrendous sandals) saying there’s rumours that the Wigan owners placed a big bet on Wigan to be relegated 

    They must have started to panic when Wigan went top of the Form Guides (last 10 matches LDDWWWDWWW).

    https://www.footballwebpages.co.uk/wigan-athletic/form-guide/ten

     

  2. **Just my opinion as I have little knowledge of this but is the below about right?**

     

    Although it doesn’t necessarily matter about your profit and loss from year to year I suppose, it’s your total debt that is the issue.  Once that spirals (like Portsmouth/Bolton) and your benefactor/directors no longer want to plug the losses, then its administration time. 

    If you have saleable assets (stadium, training ground, academy etc) then you’ll get a buyer because there’s something concrete to secure your purchase against and take the debt on.  This happened with Bolton initially a few years back.  Their problem (and Bury’s for that matter) has been that the successive owners who took over have tried to asset strip some parts for whatever reason (inject more cash into the club, pay off loans the new owners used to buy the clubs in the first place or a potential opportunity to make money personally from the club) whilst continuing to make losses.  Loans then get called in, creditors want their cash, tax bills go unpaid.  Sometimes the process will then repeat itself but in this instance Bolton and Bury have been so poorly managed, sold key assets (Steve Dale has sold the stadium & car park) potential new buyers aren’t as attracted and pull out. 

    A wiseman once said, if you owe 100m and can’t pay it back, it’s the banks problem. If you owe 5-10m and can’t pay it back it’s your problem.

    The people who took over at Bolton & Bury had no money themselves to stem any losses.  They weren’t fans, they simply bought he club with loaned money which they aimed to repay by carefully stripping the club of a few assets at a time and hopefully injecting a bit of cash into the playing side to get some success.  They’d then sell the club and make some money back (as would their initial backers).  Only thing is it is not as simple as that.

  3. The 92 League clubs ranked in order of profitability
    Accounts for the 2018-19 season show 52 of the 72 EFL clubs losing money.

    2017-18 Net profit and loss
    1 Tottenham £113m
    2 Liverpool £106m
    3 Chelsea £62m
    4 Arsenal £57m
    5 Burnley £37m
    6 Southampton £29m
    7 Newcastle £19m
    8 Hull £19m
    9 West Ham £17m
    10 Norwich £15m
    11 Barnsley £13m
    12 Huddersfield £11m
    13 Brighton £11m
    14 Manchester City £10m
    15 Exeter £2.4m
    16 Leicester £1m
    17 Preston £1m
    18 Port Vale £1m
    19 Stevenage £0.8m
    20 Luton £0.6m
    21 Peterborough £0.5m
    22 Forest Green £0.4m
    23 Accrington £0.4m
    24 Fleetwood £0.4m
    25 Burton £0.3m
    26 Shrewsbury £0.3m
    27 Gillingham £0.1m
    28 Plymouth £0.1m
    29 Newport £0.1m
    30 Yeovil £0.1m
    31 Walsall no profit/loss
    32 Barnet no profit/loss
    33 Grimsby -£0.04m
    34 Cheltenham -£0.1m
    35 Carlisle -£0.1m
    36 Mansfield -£0.1m
    37 Bradford -£0.3m
    38 Rochdale -£0.3m
    39 Crawley -£0.3m
    40 Morecambe -£0.4m
    41 Oldham -£0.5m
    42 Rotherham -£0.5m
    43 Wimbledon -£0.5m
    44 Wycombe -£0.7m
    45 Crewe -£0.8m
    46 Cambridge -£0.8m
    47 Chesterfield -£1.1m
    48 Lincoln -£1.1m
    49 Derby -£1.1m
    50 Portsmouth -£1.4m
    51 Notts County -£1.5m
    52 Swindon -£1.8m
    53 Sheffield Utd -£1.9m
    54 Northampton -£2m
    55 Oxford -£2m
    56 Blackpool -£2.1m
    57 Coventry -£2.5m
    58 Doncaster -£2.8m
    59 Bury -£2.8m
    60 Swansea -£3m
    61 Southend -£3.1m
    62 Colchester -£3m
    63 Bristol Rovers -£3m
    64 Scunthorpe -£3.6m
    65 Brentford -£3.9m
    66 Leeds -£4.3m
    67 MK Dons -£4.6m
    68 Millwall -£4.6m
    69 Ipswich -£5.2m
    70 Bolton -£5.4m
    71 Nottingham Forest -£5.6m
    72 West Brom -£6m
    73 Middlesbrough -£6.6m
    74 Wigan -£7.7m
    75 Sunderland -£10.2m
    76 Charlton -£10.4m
    77 Bournemouth -£11m
    78 Everton -£13m
    79 Blackburn -£16.8m
    80 Reading -£21m
    81 Sheffield Wed -£21m
    82 Bristol City -£25m
    83 Watford -£31m
    84 Stoke -£32m
    85 Aston Villa -£35m
    86 Cardiff -£36m
    87 Crystal Palace -£36m
    88 Manchester Utd -£37m
    89 Birmingham -£37m
    90 QPR -£38m
    91 Fulham -£45m
    92 Wolves -£57m

    • Like 1
  4. Went to the Three Fishes today. Probably good if one has never eaten at an RVI place before. Nice atmosphere and a big improvement on the Clog but:

    Went to the Clog the other day it was OK. However they said they are shutting for two weeks in a fortnight for a refurbishment. They are building a large fireplace in the middle and new furniture. Might be worth seeing if they refresh the menu when it reopens.

  5. Eaten in the Butlers three times now and sorry to say that each time has been poorer than the time before.

    I'll be interested to try the Butlers when I next back up, my old local. Used to be a great 'drinking' pub back in the day but always thought it was in a great position for a restaurant. The view sitting out the back in summer with the sun setting over Hoghton Hill is fabulous.

  6. Anybody watched the new Arrested Development? I'm 7 episodes in and I'm not impressed. I wasn't expecting much though because I thought the tail end of the third season was heading that way.

    About the same verdict from me as well and I agree about the 2nd half of the 3rd series. Perhaps unfair though, to have kept up the standard of the first 2 would have been asking a lot. Not many comedies make much more than two great seasons before having to parody themselves a bit and running out of steam.

    Still, it's the greatest of its type ever made so it will always have that.

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