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Must be very soon now surely
Burnley in financial free fall?
- Thread starter RWW1
- Start date
Some investor will rush in to save Burn-In-Hell-Y. It'll happen a lot quicker that the three years and dragging on at Argyle.
I had a feeling this would happen.
They brought the club using loans. The alarm bells should have been ringing straight away. However, they found a way to get promoted twice and service the debt which was frustratingly holding up their demise.
Patience is a wonderful thing. I await the day they are in league 1. It would be karma for what l experienced in 1997 from their fans at Turf Moor.
They brought the club using loans. The alarm bells should have been ringing straight away. However, they found a way to get promoted twice and service the debt which was frustratingly holding up their demise.
Patience is a wonderful thing. I await the day they are in league 1. It would be karma for what l experienced in 1997 from their fans at Turf Moor.
According to Kieran McGuire they were the best run team in the Premier league when they had that great spell under Dyche. Only Spurs could match their wages to income ratio and they were largely debt free.
Their problem came after a leverage buy out by American investors which, similar to United and the Glazers, loaded the cost of the takeover onto the club.
They’ve come down again but this time with a bucket load of debt behind them and future parachute payments sold to Australian bank Macquarie.
They now have a reported debt of£142m!!! £105m of that in bank loans incurring 8%interest which cost them £13.6m last year.
They apparently still owe over £90m to other clubs on players signed hence their sales this window raising well over £60m.
They threw borrowed money at the team after twice getting relegated in the hope that the riches of the Premier league could bale them out but don’t look like bouncing back this year.
I’ve no love for Burnley after losing in the playoffs and getting pelted with coins, lighters etc in that relegation game but admired them when they punched well above their weight year after year under Dyche.
It’s starting to look like the next crisis club
American investment isn’t always a success and be careful what you wish for.
Their problem came after a leverage buy out by American investors which, similar to United and the Glazers, loaded the cost of the takeover onto the club.
They’ve come down again but this time with a bucket load of debt behind them and future parachute payments sold to Australian bank Macquarie.
They now have a reported debt of£142m!!! £105m of that in bank loans incurring 8%interest which cost them £13.6m last year.
They apparently still owe over £90m to other clubs on players signed hence their sales this window raising well over £60m.
They threw borrowed money at the team after twice getting relegated in the hope that the riches of the Premier league could bale them out but don’t look like bouncing back this year.
I’ve no love for Burnley after losing in the playoffs and getting pelted with coins, lighters etc in that relegation game but admired them when they punched well above their weight year after year under Dyche.
It’s starting to look like the next crisis club
American investment isn’t always a success and be careful what you wish for.
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That is scary reading
Leicester have had a fall from grace
Could the Clarets be the next club finding themselves in League 1
Not good reading if you are a Burnley fan.
Mind you, never mind.
www.bbc.com
Mind you, never mind.
Burnley: Fan View - 'It's not a blip, Clarets are in crisis'
Fan writer Natalie Bromley worries that Nicky Hayen is not the man to lead Burnley and that the Clarets could be heading for League One.
www.bbc.com
The issue is that it wasn't investment at all. The Yanks never used any of their own money aside from as a means to get the loans and recklessly spent borrowed money. It wouldn't surprise me as well if they've helped themselves to some of the proceeds from the Prem days in the same way the Glazers have.
A regulator that could ensure that investment comes from the owners themselves and not via a bank loan would be good but I'm not sure that is possible.
To many/most international 'investors' football is not a passion - rather an ego plaything or a ' please get me rich scheme' (I won't put in more)
Given how much the Glazers have made from Man U I'm not surprised more Americans are giving it a go now.
So the club effectively bought itself and gave the shares to the ‘investors’!
Yep! And I'm sure these "investors" have been extracting money from the club whenver they can
100%, though a small point of correction...it was 1998. Pretty much the worst ever away day out. Earl Jean's miss.
Horrible club, horrible town.
Agreed. When we lost against Burnley in the play offs that was probably the lowest I've ever felt in an match as an Argyle fan and I've wished no luck to Burnley in their endeavours since then.