Fitton: "15 clubs to go bust"

[STFC_Gazza]

hmm Fitton says 15 clubs will go bust by September. I think this is unlikely with new shirt money, season ticket money etc but can see mid-next season teams being fucked., believe we had this ion another thread (cant find it) I know Stockport, Cheltenham, Yeovil, Darlington, Lincoln, and I think Watford are in some sort of trouble. Can see Southampton and Charlton following after their plummet from the Premier League

FROM THE ADVER...


ANDREW Fitton insists he has the right man for the job in Town boss Danny Wilson, as he refuses to contemplate the thought of League One relegation.
Swindon are hovering above the drop zone on goal difference alone following a disappointing campaign which has seen a managerial change fail to kick-start their rise up the division.
And while Wilson has only recorded three wins since his arrival over Christmas, Fitton believes the formula is correct to equal eventual success at the County Ground.
“I think some of the football has been very good and nobody could deny that,” Fitton told the Advertiser.
“The games against Leicester and Millwall were incredibly frustrating because we played great football and came away with next to nothing - just a point in both games.
“Danny very quickly got them playing better and even though the results have been mixed I don’t think his confidence in his own ability ever wavered.
“Danny is an easy guy to work with because he is so confident. He knows exactly what he is trying to achieve here and how he wants to go about it. He’s doing things in a sensible way.
“I believe Danny is the right man for this club and relegation is not something I even contemplate.
“We might have contingency plans in place, but our focus is fully on getting the 15 more points that should guarantee our survival.
“We now have a run of lower half teams coming up and, if we can put together a string of three wins, then we will be having a very different conversation.”
Fitton revealed he can see up to 15 clubs could going out of business between now and the start of next season as the economic climate takes its toll on the beautiful game.
And the chairman believes he and his fellow board members have been right to exercise caution when it comes to spending.
He said: “Football is in deep financial trouble in my opinion, all the way from the halfway down the Premier League to the bottom divisions.
“It’s a loss-making industry and there aren’t the people out there who are prepared to fund those losses any more.
“There will be up to 15 clubs who will go bust before September. I don’t know who, but there will be a surprising amount who just cannot continue at this current rate. And I don’t think any club should be complacent because there are hard times still to come.
“It is something that we expected to happen and we are pleased in a way because it will force some proper behaviour.
“Is it right to throw money at it? You cannot buy success any more.
“We would rather be remembered for doing a good job than just throwing money at it. We’ve all got to be conservative owners.”

[Sippo]

You have to speculate to accumulate though. If we don't invest in players who are much better, then we will struggle. Then fans will stay away, sponsorship won't come in etc...

Sounds like to me he's reluctant to open his wallet.

[herthab]

Andrew Fitton makes perfect sense.

[stfctownenda]

You have to speculate to accumulate though. If we don't invest in players who are much better, then we will struggle. Then fans will stay away, sponsorship won't come in etc...

Sounds like to me he's reluctant to open his wallet.

Yes what a stingy bastard its not like hes cleared millions of debt.

[Nemo]

If the 15 clubs that go bust are all above us in League One, we might even reach the playoffs 

[herthab]

You have to speculate to accumulate though. If we don't invest in players who are much better, then we will struggle. Then fans will stay away, sponsorship won't come in etc...

Sounds like to me he's reluctant to open his wallet.

Spend above your means though and we know what happens. I'd rather us be stable. Teams have secured promotion without spending fortunes. Many of those who did spend money the club couldn't afford are now struggling.

[STFC_Gazza]

Sounds like to me he's reluctant to open his wallet.

He cleared loads of debt from the old regime and bought Cox, hardly someone who is reluctant to open his wallet. Also had £150,000 bid for Mulgrew accepted in the Summer... again hardly someone who is reluctant to open his wallet. Money will no doubt be available just not stupid amounts. Makes perfect sense really. AF has previously said though if we can get someone (like Cox) who would change the dimension of the team and sell on for a profit in the future we would do it.

[Sippo]

Yes what a stingy bastard its not like hes cleared millions of debt.

So we have to live with that forever?!

I think he definately needs to get his wallet out in the summer, whatever league we are in.

[janaage]

"There will be up to 15 clubs who will go bust before September"

Now that is a prediction and a half, over 20% of league clubs to go bust by September (I'm assuming he's talking FL clubs as non-league wouldn't affect us).  Interesting quote that.

[Spy]

Spend above your means though and we know what happens.

Exactly! Do our fans have very short memorys or something?

[stfctownenda]

So we have to live with that forever?!

I think he definately needs to get his wallet out in the summer, whatever league we are in.

I'd rather live with that forever having Fitton at the helm than face the possibility of being one of the potential 15 clubs going under.

[Sippo]

My point is that we need to spend money in the summer to replace the shite we've got now. Be that £5 or £50k. Reading the above, I get the impression he won't do that.

[fatbury]

I imagine at least 10 of those are in the Conference - probably a maximum of 5 in the league itself - and NONE in League 1

[pauld]

He says "up to 15" not "15 will definitely go". And he's right - been saying for a while now, the next two-three years will see around 30 clubs at the very least go close to going bust, and not just in the lower leagues, there'll be some Prem clubs in there as well. Not administration, but actually ceasing to exist.  Football is going to have to start cutting its cloth a bit more appropriately, and about time. In those circumstances, properly run clubs that are largely free of external debt, will be well-placed to do well. Basket cases like we used to be not very long ago will probably not survive.

[janaage]

People have been saying this for years, and plenty clubs go into admin but not many have folded.  Don't get me wrong I'm 100% behind Fitton's spending strategy, in fact he's probably surprised me to a certain extent by coughing up the money for Coxy, although I'm sure the return on this investment was what AF had his eye on, bit of a odds on gamble that one.

But live to your means, it's defo the best way to run a club/household.  If we can gain from other clubs adventurous financial policies then so be it.