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Credit Crunch, What Credit Crunch?

Credit Crunch, What Credit Crunch?

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With the Abu Dhabi takeover, Manchester City Football Club is in safe financial hands, however what about several other Premier League clubs, possibly on the brink.

West Ham United

The Hammers are in dire straights after losing its shirt sponsor and then to top it all Icelandic owner Bjorgolfur Gudmundsson is almost down to his last million after the country's banking system went into meltdown.

If Gudmundsson doesn't find a buyer, and soon, could we see the first Premier League Club go out of business?

Liverpool

American owners Tom Hicks and George Gillett borrowed vast sums when they purchased the Reds. How long will it be before they are forced to sell?

Manchester United

The Glazier family are mortgaged to the hilt. Will the American banks decide to put pressure on the owners to re-pay the debt at a higher APR rate or will they leave well alone?

Chelsea

Over the past few months Russian owner Roman Abramovich lost billions on the stock exchange. How long will it be before he does a runner and leaves Stamford Bridge in the lurch?

The following link highlights the money worries European football is currently facing. I wonder how long it will take before we see the dark and distant days return when clubs began to fold like a pack of cards.

Aldershot, Maidstone and Bradford Park Avenue all went bust but have since risen from the ashes; however the likes of once prosperous sides the like of Luton Town, AFC Bournemouth and Rotherham have all been close to going to the wall. Luckily, for them they found investors just in the nick of time, albeit all three clubs suffered horrendous league point deductions for going into administration.

I wonder who will be next?



Click here to join in the debate on the club forum.

Writer:Tudor
Date:Wednesday November 19 2008
Time: 3:33PM

Comments

0
It's good that we are sitting on the other side of the fence, and that one of the owner's main concerns was to sustain Manchester City's stability. It's only a matter of time before all the PL clubs have multi-billionaire onwers, but in the meantime, let's take full advantage of our financial muscle.
oliverblue
19/11/2008 16:04:00
0
WHAT an utter arrogance & stupidity??? U are laughing at other Clubs.What is the objective?We all know u r ok right now.That doesn't mean u have won every thing. Over the past few months Russian owner Roman Abramovich lost billions on the stock exchange WHO TOLD U THAT Tudor? R u his Financial assistant?? He is an Oil tay***** with Steel businees & I guess u know the power of OIL.How long will it be before he does a runner and leaves Stamford Bridge in the lurch? HA HA DREAM ON Just remember there is one GOD up there.He will one day punish the arrogance of every one.
Saimon_blues
19/11/2008 17:15:00
0
And by the way we r jealous of City.Well Win First then we will see.U have nothing to be jealous.Unless u want only Super Satrs.BUY ANYONE.A FULL FIT CHELSEA can beat any team if they play well.
Saimon_blues
19/11/2008 17:18:00
0
so you've got some money - tough s h i t you ain't got a side - look at yer league position!
merlin
19/11/2008 19:13:00
0
You've certainly touched a nerve there Tudor. It doesn't take much does it, I guess they don't like facing the truth.
alphieblues
19/11/2008 21:52:00
0
One just need to listen to the news Saimon_blues and merlin. The BBC said only a few weeks ago that Roman Abramovich had lost billions on the stock exchance. Check out their website lads.
Tudor
20/11/2008 10:38:00
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