1 of 1- alanj
- Bog End Overlord
Offline - Registered: 01/4/2013
- Posts: 2,983
FINANCIAL DIFFICULTY.
Lowestoft Town are the latest club to have financial problems and from reading the chairmans letter, they really are of a serious nature. Players have not received Januarys wages and whilst the directors have been financing the club from their own resources, they have said they can no longer do this.
Small crowds (sound familiar) coupled with a high wage bill have left the club in a precarious position.
I hope they manage to sort the situation out.
I feel this will be a sign of things to come, especially when you look at some of the crowds on a Saturday.
Thanks Sky for all your help!
It is a pity with all the money that is awash in the Premier league, some of it could not trickle down to the lower leagues.
- Bogend Ant
- Bog End Admiral
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- Registered: 25/12/2016
- Posts: 180
Re: FINANCIAL DIFFICULTY.
Why is this happening to so many clubs?
- alanj
- Bog End Overlord
Offline
- Registered: 01/4/2013
- Posts: 2,983
Re: FINANCIAL DIFFICULTY.
Either through greed, or financial mismanagement Anthony.
"Greed" when a person buys a club only to strip it of it`s assets, or tries to punch above their weight, borrowing money on the strength of the club`s assets, then when it all goes belly up, load the debt`s, onto the club and walk away.
Or "financial mismanagent" when a club is spending more than is coming in through the door, usually when ambition get`s the better of common sense.
Hopefully we will never be in such an exposed position because it will always be the fan`s who suffer.
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