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EFL financial alarms increasingly shrill

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By on CQN BLOG & Comments

English Football league chairman, Rick Parry, spoke to the BBC yesterday and continued his tirade against unsustainable finances among EFL clubs.

“Why can we not have community owned, sustainable clubs? That goes for all the structural issues that I have been telling anybody who will listen, and most people who won’t listen, for the past x number of months, from the select committee onwards.

“The Championship is a financial nonsense. We’ve got clubs spending 107% of their income on wages, we’ve got the major distortion of parachute payments, we’ve got £400m of owner-funding required – £16m per Championship club. There are owners gambling on getting into the Premier League, it’s unsustainable.

“We need to make our clubs sustainable – we shouldn’t be relying on random foreign owners.”

These concerns surfaced after Wigan’s Hong Kong-based owners put the club into administration last week, a move that took place without delayed payments to HMRC and other creditors that usually proceeds administration.

Parry is at the forefront of this issue. His concern peaked because Wigan’s owners were able to flush the club into administration without concern for personal consequences.  Even the inevitable hit to their shareholder value did not seem to register.  Where Wigan’s owners went, others could feel permitted to follow.

£16m is a lot of money for each of their Championship’s 24 clubs to find and that’s only dealing with existing liabilities, not those clubs are contracted to for years to come.  The Championship’s only options are to find investors with appetite to splurge lots of spare cash on them, convince the Premiership to unilaterally do likewise, or see the travails of Wigan play out across the division.

If Parry’s increasingly shrill alarms are anything to do by, the English football bubble may finally be close to bursting.  Sleeping so close to an elephant has been a drag on Celtic in particular and Scottish football in general.  We have waited on what Brian Quinn referred to as the ‘pack ice’ to break up for decades.  The time may finally have come.

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  1. jamesgang on

    BIG WAVY on 9TH JULY 2020 10:27 AM

     

    Back to Basics – Sadly when measuring his performance in depth that’s where he’s at (if you want to believe the good ghuys at CBN et al). Now I appreciate we will both agree that our Scott is a much better player so I think their point is he’s going backwards (as you say natural) and we have to factor that in.

     

     

    They also made a comparison to James Milner who played his usual role last night to come on at 80 minutes and use his energy and drive to close out the game for Liverpool. Can we use Scott the same way?

     

    I know we can but great managers don’t get sentimental on this. Rodgers adjusted Broonie and there’s a problem for Neil to solve too. Can he do the right thing for the team? Not so sure personally but hope he does.

     

    And yep, on here, I do expect emotional responses in return but beats the pile of work I have in front of me :)

     

     

    ———

     

     

    I’d do it the other way about.

     

    Scottie B 1st name on the team sheet where possible and certainly for all medium/big games.

     

     

    But once the game is won, get him off and into a warm Adidas trackie and cotton wool. Because…

     

     

    We still need him to win the battles that win the games.

     

    We need to ‘spell him’ as he gets older (as we singularly failed to do for a young KT at the other end of his career)

     

    We need to get used to playing and winning without him on the pitch.

     

     

    Broonie will be the biggest challenge to replace since Larsson.

     

     

    HH jg

  2. Celtic Mac on

    Paul67 et al

     

     

    How many clubs have went bust in Scotland over the last fifty years or so?

     

    Only four spring to mind, Third Lanark, Clydebank, Airdrie and Rangers.

     

    Has there been even four down In England over the same period?

     

    I think we should be told.

  4. bournesouprecipe on

    ….☘️☘️☘️☘️….

     

    ☘️………………….☘️

     

    ☘️………………….☘️

     

    ☘️………………….☘️

     

    …☘️……………. ☘️

     

    …….☘️☘️☘️☘️…

     

    …………………….☘️..

     

    ……………………☘️..

     

    …………………..☘️…

     

    ………………….☘️….

     

    ………………..☘️…..

     

    ………………☘️…….

     

    …………☘️……….

     

     

    HWG TIAR

  5. Bhoyjoebelfast on

    AN DUN @1.01

     

    Your welcome.

     

    Traveller Bhoy.Candle lit at Clonard Monastery Belfast.

  10. Hot Smoked on

    ….and whilst on music, my first single was : The Little Red Rooster by The Rolling Stones ( when did they drop the `Rolling` part from their name? ).

  14. Hot Smoked on

    Ron

     

    Yes,but The Static Stones doen`t have he same ring about it, does it?

     

    Or, even worse, The Inert Stones and , worst of all, The Just Lying Around Without any Apparent Sign of Moving Anytime Soon Stones.

  20. corkcelt on

    First songs I fell in love with were Lonnie Donegan:s The Big Grand Coulee Dam & The Battle of New Orleans.

  21. Hrvatski Jim on

    HS

     

    Even with the subtitles I couldn’t understand either singer.

     

     

    Were they singing in Arbroathian?

  22. Hot Smoked on

    Scaniel from earlier

     

     

    ` single records: 6/8d each or three for a pound.`

     

     

    Was that a Barras` style sales pitch?

     

    I had to think for a while before concluding that 3 X 6/8d really is/was a pound !

  25. Hot Smoked on

    BankieBhoy

     

     

    I like that :-)))

     

     

     

    …and whilst football without fans may well be nothing, fans without football is even worse.

  26. Coneybhoy on

    BB and Embramike

     

     

    thanks for the ST info, i should have realised that. If it is any indication, there were loads of people sharing this on FB to be in the draw.

     

     

    I was even getting excited watch the official clips on FB of training in Loughborough!!

  27. hebcelt on

    Woop woop just renewed hope to see the 203 team later in the year. Travellerboy sorry to hear your sad news and NB great news for you. H H Hebcelt

  29. hebcelt on

    Corkcelt snap I mentioned yesterday that The Battle of New Orleans was the first record I bought. Also liked Tom Dooley. Hope you are keeping well. H H Hebcelt

  30. embramike on

    Ronny Deila’s New York City FC live on Sky at the moment in pre-season MLS tournament. Currently 0-0 against Philadelphia Union at HT

  33. Coneybhoy on

    My first euro game. I can’t believe how many chances we had. Also, how far forward McLeod is as the holding centre mid. I think we always relied on the CHs staying high and passing back to the keepers hands back then (plus Danny sprinting back and across to cover)

     

     

    Still a beautiful sight to see Paul McStay, Tommy Burns and Murdo Mcleod breaking out of defence

     

     

    https://www.youtube.com/watch?v=EmS25xbk4xk

  34. !!Bada Bing!! on

    HS- What Made Milwaukee Famous…..made a loser out of me,is the line….hope you are well

  35. Majestic Hartson on

    Hand of God … I realised way too late that my attempt at humour in my reply to you didn’t even make sense – or at least not for the good of the joke.

     

     

    Appllogies…

  37. Terrymac on

    Bada

     

    Hot Smoked

     

    Milwaukee was the headquarters of Schlitz beer whose slogan was

     

    ‘The beer that made Milwaukee famous’.

     

    In 1968 Jerry Lee Lewis had a hit with a C@W version of the song.

     

     

    https://youtu.be/u7OSxQ3uKU0

     

     

    Hail! Hail!

  38. prestonpans bhoys on

    On sponsor tickets/seats I was in the original five or six rows in 118 which was trialled for parent and child seats. Moved after about five years because we were never guaranteed our European seats, was punted all over the stadium.

     

    In those early days most of the seats around us and certainly 119 were tickets sales not ST’s. As a result most of the bhoys were pished, some obviously not been to a game in years. They sang reb songs I hadn’t heard since the 70’s, some songs I didn’t even know, now that takes some doing😱😵

  40. Terrymac on

    Greenpinata

     

     

    If you are in touch with Tom Minogue ask him to regale you with the story of the time

     

    he told a couple of his idle workers to paint the crane at his Kingdom Engineering works.

     

    Suffice to say that there was a bit of wind and Gerald Eadie (of C R Smith fame) had his shiny new Ferrari parked nearby!

     

    Let us say that the inevitable outcome was explosive to say the least!

     

    Hail! Hail!

  42. ziggydoc1 on

    TERRYMAC on 9TH JULY 2020 4:05 PM

     

    Bada

     

     

    Hot Smoked

     

     

    Milwaukee was the headquarters of Schlitz beer whose slogan was

     

     

    ‘The beer that made Milwaukee famous’.

     

    ——

     

    I’m a total sado for remembering (and admitting it) that laverne and shirley was set in a Milwaukee beer Factory. Great song, of course, by a young Rod. Amazing to read the carnival is over references. Another great song.

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