Bury | Page 56 | Vital Football

Bury

Casperimp said:
But you have to address debt at some point whether you are an individual or a country. At least our national debt is actually coming down as a percentage of GDP ( about 85% now down from 89% at its peak ) whereas the French keep spending money they don't have on lavish pensions and a bloated civil service they can't afford and their debt to GDP ratio will pass 100% in the next few months as a result their borrowing costs will go up further. Italy is getting even worse than that 127% so even countries stick their heads in the sand!
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But surely following the pattern of other EU countries is the way forward
 
Casperimp said:
But you have to address debt at some point whether you are an individual or a country. At least our national debt is actually coming down as a percentage of GDP ( about 85% now down from 89% at its peak ) whereas the French keep spending money they don't have on lavish pensions and a bloated civil service they can't afford and their debt to GDP ratio will pass 100% in the next few months as a result their borrowing costs will go up further. Italy is getting even worse than that 127% so even countries stick their heads in the sand!
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https://www.usdebtclock.org/
 
graemetheexile said:
Aren't Barcelona and Real Madrid billions of euros in debt?
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Some dodgy stuff goes on with those two clubs, the Goverment and Spanish banks, I think.

Both had to pay money back a few seasons ago because the Spanish government bailed them out, or gave them cut deals on land, grants to fund training grounds etc. Can't remember the exact details.
 
nlondonimp said:
A few top Spanish clubs seem to be building up nice big medium/long term debts, loans etc etc ...to cover the short term financial obligations? Which is where bury kind of went titsup, just on a smaller scale. Spain is probably not a great example even for the passive efl.
https://www.essentiallysports.com/fc-barcelona-owes-a-debt-of-nearly-888-million-euros/
https://www.90min.in/posts/6076027-total-debt-of-top-seven-clubs-in-the-spanish-la-liga
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All La Liga clubs are profitable with the possible exception of Valencia, which is of course owned by Salford City :)

Barcelona has recorded a profit for 7 consecutive seasons. In fact, its football club subsidises losses on its basketball and handball teams. Real Madrid's profits go on longer than that.

Gross debts are a distortion of reality (in our accounts early season ticket sales are considered creditors for accounting purposes). Barcelona's gross debt there is recorded as 888m euros but on a like-for-like basis Manchester United owe 1.2 billion. Barcelona's gross financial debt in that period was only 68m euros
 
Profitable. Haha. 888 million, an awful lot of season tickets to clear that. And bringing mufc into it doesn’t make those debts sound any better. The way the Glasers bought MU was very ‘burylike’. How are the Spanish clubs servicing the debts... for instance. Looking to US banks probably means the Spanish banks won’t lend them any more €.

https://www.telegraph.co.uk/footbal...ess-papered-spiralling-costs-now-party-clear/

Anyway - just like bury - they are fine, until they run out of things to mortgage, places to loan money from, or the creditors start asking for large chunks of that debt back...
 
Casperimp said:
How many are you ignoring? Buckie, johnolbe? Anyone else?

Personally I don't ignore anyone. I find it hard enough to keep up with half the threads anyway let alone missing half the posts! :lol:
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Just those two.
 
nlondonimp said:
Profitable. Haha. 888 million, an awful lot of season tickets to clear that. And bringing mufc into it doesn’t make those debts sound any better. The way the Glasers bought MU was very ‘burylike’. How are the Spanish clubs servicing the debts... for instance. Looking to US banks probably means the Spanish banks won’t lend them any more €.

https://www.telegraph.co.uk/footbal...ess-papered-spiralling-costs-now-party-clear/

Anyway - just like bury - they are fine, until they run out of things to mortgage, places to loan money from, or the creditors start asking for large chunks of that debt back...
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Yes, they're profitable. In any case the situation with the two super elite clubs (both fan-owned of course, proving fan ownership is no panacea to making tnings competitive) is different from the rest of Spanish professional football,

The regulations were brought in to try and ensure clubs don't go to the wall - and are able to meet their tax commitments. Even that didn't prevent Reus failing last season though at least the League takes action on it, as they have this week with the three clubs over-spending.

I am no fan of the gargantuan institutions which are Real Madrid and Barcelona but a lot of bollocks is talked about them, they're under no prospect of going bust and no, Luke, there is nothing suspicious about they way they're funded. That crap about the Government or The King or Franco funding Real Madrid for example has always been mierda
 
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