Neil Young’s County: it was reassuring to hear the Manager at Stockport County emphasise that the Club, for once, had not been over-spending. He mentioned that his recruiting had a two year shelf life and the final budget would be comparable to last season’s. Some positive news from NYC – and that’s where it ended. We then lost 3-0 to our neighbours at Stalybridge Celtic losing two players including the goalkeeper to an over exuberant referee’s decisions in the process.
Monies and football finance will not lose prominence in editorial columns. Apparently ludicrous salaries and fee have ensnared City’s latest signing from Wolfsburg. Stories of precarious financial positions abound lower down the football pyramid. Latest focus has been on the league one down from EPL.
Apparently, Championship clubs have amassed more than £1.1Bn of debt with Bolton Wanderers heading that posse. Research, found the total debt was almost double the Division’s total cumulative turnover!
Bolton Wanderers has £182.1M, Queens Park Rangers £179.6M, Ipswich Town £82.4M, Cardiff City £81.1M and Hull City £64.8M. Only Preston North End appears to balance the books – though some write off of creditors appears to have happened in latest accounts.
Parachute payments, total £60M over a four-year period. However, from 2016-17, payments will be made over three years instead of four, while clubs who are relegated after just a single year in the Premier League will only quality for two years’ of payments.
Sustainable, I think not. Who will be the next ‘bubble’ to burst as the dream of the EPL is a mirage in the eyes of Owners.