Macclesfield Town

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Pompey1984+1
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Macclesfield Town

Post by Pompey1984+1 »

Been wound up this morning for debts of £500k.
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Sam_Brown
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Re: Macclesfield Town

Post by Sam_Brown »

I'd be wound up as well if I found out I had that much debt. :lol:

Joking aside never a nice thing to see and obviously going through some bad times ourselves I have some empathy for the fans. I'd like to say hopefully this is just a one off but the football bubble bursting has been something spoken about for years now and Covid is definitely going to expedite it.
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Pompey Penguin
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Re: Macclesfield Town

Post by Pompey Penguin »

Macclesfield's problems have been rumbling on for about 18 months now, so go much deeper than covid-19 impacts. However, £500k is a debt not worth spitting at, and a properly engaged owner should have been able to sort it out through repayment and restructuring. Weird that the owner had £1.1M in a bank account, but hadn't paid off the debt; suggests that the money wasn't his, but a loan for appearance purposes. I await David Conn's article for the full story.

It does show how difficult it is and will be for clubs over the coming months with next to no income to maintain any sort of cash flow. It would be hard to find a diligent auditor willing to sign off many L1 and below clubs as going concerns.
portchesterblue
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Re: Macclesfield Town

Post by portchesterblue »

Really hard on the fans, this has been dragging on since 2019, it has been adjourned 12 times.

Tough to take when you see spurs willing to pay bale 400k a week, and that despite putting staff on furlough, then taking them off because of the backlash. Subsequently taking a government covid loan for 175m because they cant afford to pay their staff allegedly. Big clubs and leagues really need to support lower leagues more
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Re: Macclesfield Town

Post by Sam_Brown »

Pompey Penguin wrote: Wed Sep 16, 2020 11:55 am Macclesfield's problems have been rumbling on for about 18 months now, so go much deeper than covid-19 impacts. However, £500k is a debt not worth spitting at, and a properly engaged owner should have been able to sort it out through repayment and restructuring. Weird that the owner had £1.1M in a bank account, but hadn't paid off the debt; suggests that the money wasn't his, but a loan for appearance purposes. I await David Conn's article for the full story.

It does show how difficult it is and will be for clubs over the coming months with next to no income to maintain any sort of cash flow. It would be hard to find a diligent auditor willing to sign off many L1 and below clubs as going concerns.
Are there any stats on what proportion of income for clubs is made up from match days? I always ignorantly assumed most money came from sponsorship's and TV rights but I'm guessing I'm way off.
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Pompey Penguin
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Re: Macclesfield Town

Post by Pompey Penguin »

portchesterblue wrote: Wed Sep 16, 2020 12:00 pm Really hard on the fans, this has been dragging on since 2019, it has been adjourned 12 times.

Tough to take when you see spurs willing to pay bale 400k a week, and that despite putting staff on furlough, then taking them off because of the backlash. Subsequently taking a government covid loan for 175m because they cant afford to pay their staff allegedly. Big clubs and leagues really need to support lower leagues more
Talking of Spurs, they also charged the NHS "expenses" for the use of their facilities during early lockdown when the crisis was at its worst, whilst trying to pass it off as a charitable community support act. It really is a horrible club/ownership.
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Locky_McLockface
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Re: Macclesfield Town

Post by Locky_McLockface »

Sam_Brown wrote: Wed Sep 16, 2020 12:01 pm
Pompey Penguin wrote: Wed Sep 16, 2020 11:55 am Macclesfield's problems have been rumbling on for about 18 months now, so go much deeper than covid-19 impacts. However, £500k is a debt not worth spitting at, and a properly engaged owner should have been able to sort it out through repayment and restructuring. Weird that the owner had £1.1M in a bank account, but hadn't paid off the debt; suggests that the money wasn't his, but a loan for appearance purposes. I await David Conn's article for the full story.

It does show how difficult it is and will be for clubs over the coming months with next to no income to maintain any sort of cash flow. It would be hard to find a diligent auditor willing to sign off many L1 and below clubs as going concerns.
Are there any stats on what proportion of income for clubs is made up from match days? I always ignorantly assumed most money came from sponsorship's and TV rights but I'm guessing I'm way off.
It differs as you go down the pyramid. In the Prem, you're right, most of their turnover is sponsor and TV, but you don't anything like that at National League level.
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Pompey Penguin
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Re: Macclesfield Town

Post by Pompey Penguin »

Locky_McLockface wrote: Wed Sep 16, 2020 1:15 pm It differs as you go down the pyramid. In the Prem, you're right, most of their turnover is sponsor and TV, but you don't anything like that at National League level.
It's old data, but suggested that half of PL clubs would survive with no fans at games.

https://www.bbc.co.uk/sport/football/44850888

In the lower leagues, income is almost all fan-generated whether through tickets, concessions, lotteries or whatever. Even the sponsorship still tends towards the local business community and tax write-offs from fans.
portchesterblue
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Re: Macclesfield Town

Post by portchesterblue »

Southend had a winding up order adjourned today as well.
Think we are going to see more over the coming months
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Pompey Penguin
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Re: Macclesfield Town

Post by Pompey Penguin »

Some interesting comments from the administrators on Wigan in administration. Proving very difficult to get someone to buy the club for £3.3M (or even £2M with a 15 point deduction) in the covid/no fans era (half what we paid for Pompey in L2 with worse facilities). We are not in the days of "go into administration; find a buyer; get going again" system; a team going into administration at the moment is going to find it much harder than normal to emerge again.

https://www.theguardian.com/football/20 ... ators-warn
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Weybridge
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Re: Macclesfield Town

Post by Weybridge »

£3.3m for stadium, team and training ground? I bet there's a few property Developers circling like vultures around Wigan at the moment.
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Locky_McLockface
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Re: Macclesfield Town

Post by Locky_McLockface »

Pompey Penguin wrote: Thu Sep 17, 2020 9:21 am Some interesting comments from the administrators on Wigan in administration. Proving very difficult to get someone to buy the club for £3.3M (or even £2M with a 15 point deduction) in the covid/no fans era (half what we paid for Pompey in L2 with worse facilities). We are not in the days of "go into administration; find a buyer; get going again" system; a team going into administration at the moment is going to find it much harder than normal to emerge again.

https://www.theguardian.com/football/20 ... ators-warn
I wonder if the Whelan family are interested for old time's sake.

What crazy times these are.
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Pompey1984+1
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Re: Macclesfield Town

Post by Pompey1984+1 »

Didn't Wigan sell the training ground?

Barnsley owners making noises about wanting to leave oakwell due to some fall out with former owners or something - interestingly the former Barnsley CEO has been putting people in touch with Wigan too.

Such a murky world.
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