Stinks, teams need to come together to fight the likes of Derby, Pigs, Reading, Brum etc how long can they get away with it. Makes a mockery of the game. Wolves got pinged but its chump change. Covid is the opportunity to take the game back under greater supporter scrutiny like in other parts of Europe. All that's been gained in last 25 years to establish English leagues as the best in the world is being undone by greed. Get rid of Taylor at PFA and vampire agents and ensure owners are clean but don't hold all the power. It's a tough challenge but its needed otherwise they'll be no more than 30 teams left.
This will all end in tears for at least one ‘big club’ more than 3 have recklessly gambled on promotion and only 3 can go up each year. you do the math, as a wise American once said. they’re just getting deeper and deeper into the **** and the gamble becomes greater each season as the chances of promotion diminishes
Presumably the club have a long lease on the ground so they can use that as security (akin to getting a mortgage on a flat). If they don’t get punished the same or worse than Wednesday it will be a scandal in a season of scandals. Charlton are at each other’s throats again today.
According to the article the owners took on a mortgage on the stadium when they took the club over. 2015. Guessing some of the loan has gone on paying that off. ?
I guess it goes like this. Derby County go along to their bank and ask for a loan. The bank says certainly, what assets do you have that will act as security for the loan. Derby say, well we have these player contracts that you could sell, and the bank says no thanks, we have no knowledge of player values and no contacts in that market place. So the owner says, well I will act as guarantor of the loan. The bank says fair enough, but what assets do you have that you could sell if the worst comes to the worst, and he says, well I own a football ground. Hey Presto
Would the ground have been independently valued as part of that process, do you think? If so, I wonder what the result was.
https://www.stokesentinel.co.uk/sport/football/football-news/stoke-derby-county-michael-dell-4419394 They need dealing with fast. It shouldn't be allowed to take out another vast loan to add to the mounting debt they already have.
It's a loan against the stadium leasehold. To be honest, I suspect this is just the first part of a takeover of the club - money on relatively favourable terms (as long as the deal goes through)
