Premier and 1st Div clubs bankrupt?

Discussion in 'Chelsea' started by mst77, Aug 25, 2002.

  1. mst77

    mst77 New Member

    Jul 10, 2002
    A leading Premiership club and a raft of top First Division clubs have consulted with insolvency firms with a view to applying for a period of voluntary administration as football's financial crisis begins to bite.

    It has emerged that one leading Premiership side are negotiating with PricewaterhouseCoopers and Kroll Buchler Phillips to prepare for a period of administration because they have run out of cash.

    And another four leading First Division teams, including newly-relegated Leicester City, have also consulted with accountants specialising in corporate rescues in a bid to sort out their dire cashflow problems.

    Leicester have admitted that the Football League's decision to force them to take back Dennis Wise on wages of £35,000 a week could drive them to financial ruin.

    The three other clubs are among the biggest and most prominent in the First Division.

    I'm not sure I believe this is us. With Newvastle, Liverpool and Man Utd still in talks about buying new players I highly doubt it is them either. We are the most likely of the top 6 teams to be in trouble, but I'm hoping it may be one of the midtable teams like Villa or Boro.
  2. Clan

    Clan Member

    Apr 23, 2002
    Half now rule..

    It could also be Leeds as Man United would have to have paid them only half of the money for Rio at the signing and the rest over the course of the contract length he signed for them.At least that was the way it used to be anyways.

    Leeds were in debt and admited as much.

    I suppose it would look like us on the outside, what with the CV not doing what it was supposed to ie supply money to the club in times of difficulty.

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