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pompey fans to do likewise here prescot cables in an act all too rare in english football the supporter owned club took the difficult but realistic decision to return to amateur status 39 rossendale united effectively defunct at the end of the previous season the club still appeared on my radar screen in march the club was still being chased for 37 000 by hmrc 40 in january the defunct stadium had been gutted by fire 41 and the next month the owner andrew connolly had announced plans to redevelop the site with 50 new houses 42 this forced the abandonment of plans for a resurrection club 43 rothwell town which is by the way five miles from kettering and thirteen from irthlingborough in may 2010 the club had withdrawn from the southern league due to financial difficulties 44 and a mooted rescue did not materialise 45 last october the club went into administration 46 and in march the ground was put up for sale 47 as far as i can make out there have been no further substantive developments again any local input would be appreciated stockport county yet another season of uncertainty for county see postings passim and twohundredpercent the end of a ground sharing agreement for edgeley park with sale sharks will have added to the financial pressures 48 truro city an interesting case of amazing success on the pitch driven by a benefactor which has proved unsustainable 49 the club has been pursued by hmrc 50 struggled to play its players 51 and at the start of the current season has had to seek protection through administration 52 two mysteries remain the involvement of the salisbury city chairman william harrison allison 53 and the sale of the ground 54 the timing of the latter will guarantee that this story has legs widnes the joker in this particular pack destined to be an obscure name that only reappears occasionally in pub quizzes it marks an attempt by steven vaughan he of barrow chester and at one time allegedly wrexham fame see postings passim through his son to create a football club from scratch originally to be called widnes town 55 it had to change its name on the not unreasonable grounds that widens town already existed 56 finding a ground to pay at proved challenging 57 and stephen vaughan seems to have opted to weave his own very particular brand of football magic in malta instead 58 very roughly the clubs involved fall into two groups first here are the league clubs here there seems to be a continuing trend of slightly fewer clubs getting into financial difficulty but those that do do so on a grand scale and perhaps do so on a kind of cyclical basis one crisis leads directly to the next one the second group the non league clubs frequently display benefactor withdrawal syndrome bws the unsustainability of this business model becomes particularly problematic when the benefactor has lifted the club up the pyramid to a level where his withdrawal makes survival especially difficult clubs like crawley town and fleetwood are surely vulnerable to bws not to mention the league and premier league clubs of much longer standing who have become benefactor dependent when i started preparing this posting i did so with as close to a sense of cautious optimism as i manage with the natural exception of portsmouth surely things were beginning to look a little rosier in the football football finance garden having completed it i ve fallen back to more usual mood of pessimism wondering when club owners are going to get a grip and face reality full marks to prescot cables as an exception not that aren t some good practice stories out there wrexham and chester provide the most encouraging examples at least fifteen years ago i wondered when the bubble was going to burst this has obviously proved the wrong metaphor suggestions for a more appropriate one are welcomed share this share on facebook opens in new window facebook share on x opens in new window x share on reddit opens in new window reddit like loading posted in benefactors debts hmrc insolvency ownership resurrection trusts tagged benefactors debts hmrc insolvency ownership resurrection supporters trust leave a comment round up of insolvency events 2010 11 posted by john beech on august 27 2011 things looked slightly better than in the previous season in simple terms of the number of insolvency events i have logged ten events involving nine clubs compared to twelve events each at a different club in the previous season although there were still some large clubs involved in 2009 10 we had seen crystal palace portsmouth and chester city crash financially in 2010 11 it was the turn of plymouth argyle and rushden diamonds the latter disappearing and the fate of the former hanging on a knife edge as i write there is clearly no cause for celebration when a no money has actually been paid b the football league has yet to agree the golden share being passed on and c the prospective owner of the club is facing three charges of fraud at another football club in four weeks time 1 and postings passim in alphabetical order the clubs in 2010 11 which suffered what i include in my definition of insolvency event were atherstone town tier 8 the club had become dependent on the bank rolling of chairman aidey burr 2 who stood down in november 2009 by december 2010 the club was forced to announce their intention to withdraw from the southern league division one central 3 they now play in the midland football alliance dawlish town tier 9 in march 2011 chairman dave fenner stood down 4 because of work commitments in july the club withdrew from the western league 5 with debts of 60 000 owed to landlord teignbridge district council and brewery carlsberg tetley the club faces a winding up petition brought by the latter 6 eastwood town tier 6 an unusual case the club has been on the rise since rob yung began a frenzy of financial doping boasting i personally pay the players wages and any other money that comes in from the fans through gate money and the like goes straight into the club 7 no notion of financial fair play there then the club s rise has been impeded by stadium restrictions and yung put the club up for sale for 1 hence its inclusion in the list 8 the good news is the club is debt free but whether it is sustainable at its current level without yung to feed its financial habit remains to be seen and new owners are in place 9 gedling town x2 tier 10 another case of benefactor withdrawal but with more serious consequences chairman roly ash had bankrolled the club for many years 10 and 11 but at the beginning of the season gave up withdrawing the club from the east midlands counties football league in november new club officials were announced 12 but in june the club again withdrew from the league 13 a bizarre consequence is that each of the club s players now has to pay the league 22 to cover the fine imposed on the defunct club it would seem that there is a football debtors rule too hucknall town tier 7 another oddity the club has had a recent history of financial struggling and matters suddenly came to a head in may when it was hit with a 75 000 vat bill by hmrc for a number of years it emerged the club had decided not to pay vat on revenue items such as gate receipts 14 with a hefty helping hand a significant part was paid off and an agreement reached over the balance 15 in the meantime the ownership structure has had to be drastically altered and the club has been forced back to amateur status 16 leyton tier 7 after a period of troubled ownership 17 the club not to be confused with better known neighbours leyton orient withdrew from the isthmian league because it could not pay its subscription there was a mass exodus 18 and the club london s oldest was formally dissolved in july 19 plymouth argyle tier 3 an ongoing can of worms that i don t propose to reopen in the context of this round up i ve covered the saga in postings passim and it has been very well covered by twohundredpercent rushden diamonds tier 5 the club went into administration in july 20 and effectively folded finances had gone from bad to worse since being taken over by liam and steve beasant in december a number of rumoured last minute rescues failed to materialise and a resurrection club is now under way 21 the club s demise had a silver lining for kettering who under pressure because their lease was coming to an end have now moved into nene park 22 i have mixed feelings about this certainly its good news for kettering which is roughly eight miles from nene park in irthlingborough the diamonds part being irthlingborough diamonds and a rational case can be made for the kettering wellingborough rushden and irthlingborough area being over populated clubs but football is not an entirely rational topic a league club has been lost and there are still questions to be answered about its rapid decline windsor eton tier 7 another sad case an indulgent benefactor failed to restrain an overly ambitious manager 23 by may 2010 debts had risen to 137 000 including 50 000 owed to hmrc 24 in spite of various reprieves the club was eventually wound up at the beginning of february 2011 25 a resurrection club windsor fc has been formed 26 although there has been a small decrease in the number of insolvency events it is worth noting that a number of clubs came perilously close to inclusion in the list hinckley united 27 welling united 28 and wrexham 29 for example while league clubs have shown a general trend towards better financial management and control over recent years non league clubs remain very vulnerable common factors ate benefactor dependence followed by benefactor withdrawal and tax payment issues clubs at the lower levels are being forced to seriously consider downgrading to semi professional and even amateur status there is little evidence that these trends will change if readers spot any omissions please let me know i m afraid last season s monitoring was necessarily a tad inconsistent because of too many nights spent away for work in hotel rooms with dodgy internet connections share this share on facebook opens in new window facebook share on x opens in new window x share on reddit opens in new window reddit like loading posted in insolvency ownership resurrection tagged insolvency ownership resurrection leave a comment a fish rots from the head down posted by john beech on february 4 2011 watching the transfer window lurch to its conclusion has not been an edifying experience i didn t have high expectations mind you and my thoughts were possibly coloured by the constantly breaking internet connection at the hotel in central europe where i am staying certainly i was slightly surprised to read last friday from my position of intermittent ignorance that premier league spending had been restrained 1 according to deloitte this of course was before the surreal outbreak of activity which saw torres transferred to chelsea for some opaque figure possibly with as high a valuation as 70m 2 and carroll transferred to liverpool for 35m 3 these transfers certainly helped to restore the inflationary trend of the past few years 4 while an argument can be made in defence of liverpool s position it is not encouraging to find alan pardew vowing i hate the word but am clearly out of line with most journalists to spend all the money on new players 5 much less encouraging was the report in the times of india that the torres transfer had been personally funded by roman abramovich 6 this at a club that is strong despite losses of 70m 7 where does all this leave financial fair play and an end to financial doping well uefa apparently seem unconcerned stating that they have full confidence that the clubs are increasingly aware of the nature of the financial fair play rules which aim to encourage clubs to balance their incomes and expenses over a period of time covering 4 6 transfer windows 8 i can t honestly say that i share that level of confidence it seems to me that some clubs are pushing spending to the limit and are making no attempt to keep the spirit of financial fair play the continuing lack of restraint the top of the pyramid simply continues to stretch the vertical integrity of the football pyramid the guaranteed payments by the respective leagues show the increasing distortion a premier league club is guaranteed a payment of at least 41m a championship club receives just under 5m and a league 1 club 1m no wonder that ambition pushes lower level clubs to unsustainable levels of expenditure breaking point has been reached in some cases and is nearby in others a cull through my intermittent bookmarks of the last ten days highlights a few cases clevedon town the club is facing a mass exodus of players because of their worrying financial situation 9 exacerbated by jack frost histon the club was recently visited by the bailiffs although was apparently all just a misunderstanding 10 kidderminster harriers an on off deal to save the club is as i write off and players are unpaid 11 leyton fc the club has been forced to withdraw from the isthmian league division 1 north mid season 12 plymouth argyle the club is now dependent on survival on funding finally turning up from its absentee japanese investors 13 under threat from hmrc and with other debts the future of the club is by no means certain welling united the club has faced allegations that players wages have not been paid on time 14 windsor and eton a sad case this the club was in no position to contest a winding up petition from hmrc 15 and is now no more although there is talk already of a resurrection club whatever criticism may be levelled at the club s directors it is difficult to disagree with president barry davies s assertion that not enough money in football these days filters down it s the minnows that are really suffering and will continue to suffer until the highest level of football gets itself in order normal service should be resumed when i return to the comfort zone of my own wifi system in the early hours of sunday morning this posting is thanks to the university of applied sciences in kufstein tirol austria share this share on facebook opens in new window facebook share on x opens in new window x share on reddit opens in new window reddit like loading posted in cashflow governance hmrc insolvency premier league resurrection transfers uefa tagged cashflow governance hmrc insolvency premier league resurrection transfers uefa 7 comments whither chester posted by john beech on february 28 2010 the decision of the football conference chairmen to expel chester city at last showed a will to take the decisive step to bring to an end the sorry tale of this club see postings passim well probably that is with respect to chester city football club 2004 limited it can of course apply for membership of a lower league but is still due in court to face a winding up petition from hmrc on 10th march not that director of football morrell maison seems too deterred 1 he has presented his analysi...