Football League clubs with governance issues

[chris who]

I wonder if the £2,500 a week cap applies to Hull , Derby and Reading ?
Regardless of the other teams , I can't see that it will affect Gills much.

If we are prevented from signing a player over £2,500 a week then that rules out selling a player and replacing him with a player of equal standing on a free but with a higher wage .I am thinking that Someone like Big V hits the ground running on the goal front we may well get significant bids .But selling him right at the end of the transfer window might cause real difficulties. We perhaps need to sell someone but doing so might cause the team a lot of problems. Scally might have a real problem keeping MR Evans happy and everyone else.It is far from a no problem situation in my book.
Ehmer and Lee apart we have signed nobody who in almost certainly a starter thus far .Some useful subs and fringe of the team players. But as has been said the 11 selected now would probably have very few new signings in it.

 

[Baghdad_Rob]

If we are prevented from signing a player over £2,500 a week then that rules out selling a player and replacing him with a player of equal standing on a free but with a higher wage .

But how often do we actually do that?
We tend to sell / lose a star player and then take a cheap gamble on someone from league two and hope they become a Eaves or Oliver and less so a Mandron.

 

[chris who]

As fans we might know that the delay is not strictly down to Covid but I somehow doubt any future signings will bother to download our filing history from Companies House and then hire Wayne to give them a full financial analysist. Hence any embargo conditions such as 6 month contracts could be sold to the potential signing as just a covid related delay.

If they have a useless agent I am sure you are right.
If however they are a experienced pro with a decent agent they will know otherwise.No this will make things a lot harder for Steve Evans.

 

[Baghdad_Rob]

If they have a useless agent I am sure you are right.
If however they are a experienced pro with a decent agent they will know otherwise.No this will make things a lot harder for Steve Evans.

On the basis that players still sign for the likes of Wigan despite their widely publicised financial issues, then I don't think players and their agents care about the finances of a club. I'm sure the average agent thinks "I'll get paid for getting them to sign for Administration FC and if they fold then I will get paid again when my client signs for a new club 6 months later".

 

[Bert]

The Club's past record in submission of the annual accounts is pretty poor with overdue accounts seeming very much like an annual event.
However on this occasion I have some sympathy for two reasons: -
1. I think that Companies still have the option to apply for a 3 month period of grace in view of the COVID epidemic. The Accountant's should have applied before the due date to avoid late lodgement fines.
2. The FA were almost 12 months late in deciding the Hanlon fee. I suggest that as the transfer took place during the last trading year the accounts could not be completed without inclusion of that fee. It is the date of the transaction that is important not the date that any transfer fee is received.
We don't know what is the problem with is with the "Loans" (why should we?) but the none settlement of the Hanlon fee (which is less than the Club had hoped) and again, should have been paid last year, may well have contributed to the problem here.

 

[Captainreblue]

This toughening of the rules is something that was voted for by the EFL clubs themselves. In our case did PS not know this embargo was coming?

 

[Deleted member 13556]

On the basis that players still sign for the likes of Wigan despite their widely publicised financial issues, then I don't think players and their agents care about the finances of a club. I'm sure the average agent thinks "I'll get paid for getting them to sign for Administration FC and if they fold then I will get paid again when my client signs for a new club 6 months later".

Wigan Athletic have had new owners since the end of March! The club is on a financially sound footing again! First thing Phoenix 2021 did after buying the club was return the £800,000 the fans had raised to save the club!

 

[Lark]

Wigan Athletic have had new owners since the end of March! The club is on a financially sound footing again! First thing Phoenix 2021 did after buying the club was return the £800,000 the fans had raised to save the club!

And they are now signing players like Charlie Wyke on £10k a week, offering more than Sunderland did to renew his deal

 

[Deleted member 13556]

And they are now signing players like Charlie Wyke on £10k a week, offering more than Sunderland did to renew his deal

Reported £10,000….you have to pay good money for a 30 goal a season striker because there aren’t many about! If the rich arab owner can afford it what is the problem?

 

[Baghdad_Rob]

Wigan Athletic have had new owners since the end of March! The club is on a financially sound footing again! First thing Phoenix 2021 did after buying the club was return the £800,000 the fans had raised to save the club!

I said "the likes of Wigan" and meant it in the context of the sort of clubs who seem to go in a pattern of "New owners, big spending, risk of administration, new owners" and repeat.

You can replace Wigan if you will with Bolton (I think they are still struggling) or other clubs like Southend who seem to be reportedly under threat of being wound up every few months.

 

[Deleted member 13556]

I said "the likes of Wigan" and meant it in the context of the sort of clubs who seem to go in a pattern of "New owners, big spending, risk of administration, new owners" and repeat.

You can replace Wigan if you will with Bolton (I think they are still struggling) or other clubs like Southend who seem to be reportedly under threat of being wound up every few months.

Sorry, I get your point! A club that has impressed me with their approach was Colchester United! The chairman refused to pay out wages for decent signings letting the manager rely on non league captures, loan players and an aged squad and hope for the best to avoid relegation! This season due to saved finances they have signed four quality players from Ipswich Town, although their best player Ben Stevenson has gone to FGR!

 

[rambolerambole]

Stick a bid in then.
Put your money where your mouth is.
If you have as much dosh as you have gob, then we’ll be in safe hands

Oooooo told me (not)

 

[shotshy]

Okey dokey.
Imagine an alternative under Scally.
He takes over the club while in administration for a quid but takes on the liabilities.
So far so good.
Then decides to flog the stadium for development while telling the fans that he’s going to build a new one.
The new stadium doesn’t materialise and we end up as tenants at other Kent clubs, eventually after numerous relegations build a small stadium down by the river, that is constantly rented out to make ends meet.
I give you Maidstone United.
Under Scally, we’ve been up and down but have always retained our home and always retained our league status.
He could have personally made a few knicker and buggered off to live in the sun.
He’s stuck around for twenty plus years and has always done what he thought best for the club.
He’s not everyone’s cup of tea but was the only cup on the table at the time, and to the best of my knowledge, nobody has been braking his arm to sell it to them.
Careful what you wish for.

 

[Captainreblue]

Okey dokey.
Imagine an alternative under Scally.
He takes over the club while in administration for a quid but takes on the liabilities.
So far so good.
Then decides to flog the stadium for development while telling the fans that he’s going to build a new one.
The new stadium doesn’t materialise and we end up as tenants at other Kent clubs, eventually after numerous relegations build a small stadium down by the river, that is constantly rented out to make ends meet.
I give you Maidstone United.
Under Scally, we’ve been up and down but have always retained our home and always retained our league status.
He could have personally made a few knicker and buggered off to live in the sun.
He’s stuck around for twenty plus years and has always done what he thought best for the club.
He’s not everyone’s cup of tea but was the only cup on the table at the time, and to the best of my knowledge, nobody has been braking his arm to sell it to them.
Careful what you wish for.

"He takes over the club while in administration for a quid but takes on the liabilities"-According to PS before the pandemic we were debt free ( if you truely believe that, I don't ).

"He's stuck around for twenty odd years and has always done what he thought best for the club".- You could argue he's done very well out if GFC financially but he has an invested interest in keeping GFC alive, where else would he have earned the salary he has for that time, he's a salesman after all.

I don't think we'll actually know how well the club has been run and how close or not we've sailed to the wind over the years until PS moves on , whenever that is.

At some point GFC will change hands, whether it's successful is always a gamble.

It was less than two months ago PS sent out his masterpiece letter on how the club( or ship) was now stripped of baggage and was in its best ever shape financially, yet now we have a transfer embargo. Forgive me for being cynical, I just struggle to take what PS says as gospel.

 

[shotshy]

I don’t take what Scally says as gospel mate.
I’ve no idea where you got that idea from?
My point really is, that under his stewardship, we’ve generally been ok.
Baring in mind that we are a small, unattractive provincial football club that if we’re honest, most other clubs don’t give a toss about, we’ve done alright under Scally.
We are simply not attractive to an investment group.
Medway doesn’t turn out in sufficient numbers to support its only league team.
I recall a survey years back and if I recall correctly, it showed that over 40% of ST holders didn’t live in Medway.
Maybe building a purpose built stadium with facilities could change that?
I dunno.

 

[LancsGordoRoad]

And they are now signing players like Charlie Wyke on £10k a week, offering more than Sunderland did to renew his deal

I drove past their (Wigan) training ground yesterday and there was no shortage of very high end motor cars on show !

 

[LancsGordoRoad]

I drove past their (Wigan) training ground yesterday and there was no shortage of very high end motor cars on show !

Admission - sorry all, I forgot that Wigan sold that training ground last year - to Preston North End - which might explain the £m`s worth of motors on show ! Nevertheless, Wigan`s situation appears very healthy finance-wise. And Bolton too appear to be OK, already sold 10K season tickets and have a top manager in Ian Evatt. L1 gonna be a hard slog this season !

 

[Captainreblue]

I don’t take what Scally says as gospel mate.
I’ve no idea where you got that idea from?
My point really is, that under his stewardship, we’ve generally been ok.
Baring in mind that we are a small, unattractive provincial football club that if we’re honest, most other clubs don’t give a toss about, we’ve done alright under Scally.
We are simply not attractive to an investment group.
Medway doesn’t turn out in sufficient numbers to support its only league team.
I recall a survey years back and if I recall correctly, it showed that over 40% of ST holders didn’t live in Medway.
Maybe building a purpose built stadium with facilities could change that?
I dunno.

I meant a general belief in us being debt free, not you personally.

We've been ok under PS stewardship as far as we know. There have been a couple of occasions that weve sailed pretty close to the wind if what I've heard via fairly reliable sources have told me who have close connections to the club at the time. P.S. only communicates information on his terms, when it suits him and tells people what he thinks they want to hear.

I honestly don't know if we're attractive to an investment group and I guess we'll probably never know unless PS wants out. One thing is clear we're not an attractive proposition under the terms PS is currently offering investors, whatever that is.

I agree on the rest.

 

[wxgill]

Okey dokey.
Imagine an alternative under Scally.
He takes over the club while in administration for a quid but takes on the liabilities.
So far so good.
Then decides to flog the stadium for development while telling the fans that he’s going to build a new one.
The new stadium doesn’t materialise and we end up as tenants at other Kent clubs, eventually after numerous relegations build a small stadium down by the river, that is constantly rented out to make ends meet.
I give you Maidstone United.
Under Scally, we’ve been up and down but have always retained our home and always retained our league status.
He could have personally made a few knicker and buggered off to live in the sun.
He’s stuck around for twenty plus years and has always done what he thought best for the club.
He’s not everyone’s cup of tea but was the only cup on the table at the time, and to the best of my knowledge, nobody has been braking his arm to sell it to them.
Careful what you wish for.

IF PS sold the club where else would he get a 200-250k yearly fee?

Over 20 years i think he's had 2-3 million quid. I could live on that.

 

[Trashbat]

IF PS sold the club where else would he get a 200-250k yearly fee?

First - I think you’re over-inflating his fee.

Second - The figure would be gross. Out of the consultancy fee would be expenses, accountancy fees, insurance etc.

Third - there are plenty of jobs paying that money and will none of the hassle or public scrutiny.

If you’d be happy to live on the same fees as Scally’s consultancy fee, gain the skills, take the risks, work hard. Simples.