Have been told they need to find ten million pounds by the end of December otherwise they will not get any assistance towards the January wage bill.
That's called capitalism. The same way the directors of a business which never made a profit can walk away with tens of million pounds. It's hard on the fans but we need several Premiership and Championship clubs to go bust.
You cannot blame stupidity on capitalism. How any bank can give out money based on profit margins for a business that doesn't make profit is crazy.
How can you not blame Capitalism? Unregulated, free marketeering and greed. That's what Capitalism is all about. For once I don't blame Thatcher.
I think we're on the cusp of some big changes in football - reflecting changes in society generally. 2011 will surely be remembered for the year in which popular revolutions produced great political change change in north Africa and continues to threaten chsange in Syria, Russia and for different reasons Greece and other recession hit countries. Closer to home, the reputation of the banking industry remains seriously affected by the events resulting from the credit crunch. And businesses who fail to engage their customers are failing - in greater than ever numbers and household names have disappeared from the high street in recent years. New consumer groups (see Carrotmob.org for an example) are emerging and growing rapidly. People are truly exercising their right to express their dissatisfaction and desire for change. Football isn't exempt. Fan-led dissatisfaction with Mr Blatter reaches fever-pitch, dissatisfaction with the Glazer family at Manchester United remains high, frustration with Venky's at Blackburn is clearly growing, and the vote supporting a move from Stamford Bridge for Chelsea failed - due to lack of engagement with the fans. These expressions of dissatisfaction haven't produced much change as yet - but I think they will. For clubs in the premier league in particular it's now all about making money. The biggest clubs in particular have been bought by wealthy investors with making more money as their motive. (BTW - I exclude Patrick from this - his motives have been to help the club and clearly not to make money) The fans are just seen as another money making opportunity. Only a few clubs, Swansea being a good example, have a different model in which fan ownership, and involvement is key. I think there'll be much more discontent from fans of many clubs in the next few years - and lots of change.....
agree with the sentiment, and the first of those should unfortunately be Portsmouth. Read yesterday that they need to get rid of their biggest earners in January to stay afloat and the two biggest are on 36k each a week. For a club that's recently come out of the **** once already, that's just unbelievable. To have a business model that goes tits up so quickly after the first time is just fraudulent trading.
