Notts County trying to run before they can crawl?

[Summerof69]

Nice to see that they've got their priorities right. They're up to our necks in debt...but it doesn't stop them getting a new manager in and put another salary onto the payroll.

[pauld]

Official, then (Cotterill, not admin):

http://news.bbc.co.uk/sport1/hi/football/teams/n/notts_county/8530392.stm

Hmm, looks like they may actually have gone into admin (or some form of insolvency procedure) and kind of hidden it behind the Cotterill announcement:

The Football League will demand answers from Notts County's new owner as to the basis of the company voluntary arrangement the club entered yesterday. If the reference to a CVA is mere shorthand for bilateral agreements between the club and its creditors then it is likely there will be no points deduction for the club. However if, as early indications suggest, a formal CVA process has been entered then the League will regard it as administration by another name and impose a minimum 10-point penalty.

http://www.guardian.co.uk/football/2010/feb/24/peter-ridsdale-cardiff-city-finances

[suttonred]

It's definately all going bang. On SSN this morning, it stated that 18 prem clubs owed 3.4 Billion, which is 56% of all the debt in European football combined. It didn't however include Pompey or West Ham, which would make it worse. It's getting to that time of year where teams eye up the table and decide whether to go into admin, i think it's going to be horrific this year could be a dozen or more.

[Nemo]

Why on earth did they not include Pompey or West Ham, they must be another 10% between them.

Going to be a very interesting few months in football I think. All hail Sirs Fitton, Arbib, Wray and er, the other one. Backhouse?

[Rustle]

Charlton must be close to administration,a lot of charlton fans think they could be in serious trouble if promotion is not gained this season,although maybe a summer clear out of some of the better players may save them from admin,shelvey must be worth a tidy sum.

[suttonred]

Not included as not full members of eufa or something. Didn't quite catch that bit.

[pauld]

It's definately all going bang. On SSN this morning, it stated that 18 prem clubs owed 3.4 Billion, which is 56% of all the debt in European football combined.

English football fucking stinks right now. It's like the final scene in Poltergeist where they realise they built the houses on the Indian graveyard - all those bodies are about to come springing out of the ground

[pauld]

Oh, and the Grauniad have a write-up on the UEFA report which is probably a bit more indepth than the SSN treatment:

http://www.guardian.co.uk/football/2010/feb/23/premier-league-clubs-europe-debt

[suttonred]

What's really worrying is those figures are from 2 years ago at least, most teams have gone even more mental with wages since then. Ah well at least Cole and Terry have made their money and can spend it on slappers, so it's not all bad.

[pauld]

Ah well at least Cole and Terry have made their money and can spend it on slappers, so it's not all bad.

That's not fair and you know it - John Terry spends barely a fraction of his entirely undeserved fortune on slappers, most of it he pisses up against a wall on gambling debts

[Power to people]

County now reckon they are going to call in the 'old bill' next week to investigate Munto

http://www.skysports.com/story/0,19528,11750_5977240,00.html

[nevillew]

most of it he pisses up against a wall on gambling debts

A mixed and thoroughly unsavoury mixed metaphor.

[jayohaitchenn]

Which is mixed.

[nevillew]

Ah yes, I believe the word is 'oops'

[THE FLASH]

English football fucking stinks right now. It's like the final scene in Poltergeist where they realise they built the houses on the Indian graveyard - all those bodies are about to come springing out of the ground

That was a fucking awesome bit!