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Post by QPR Report on Dec 2, 2009 16:53:30 GMT
Several British clubs likely to go out of business Reuters - December 3, 2009, 5 LONDON, Dec 2 (Reuters) - Several British soccer clubs are in danger of going out of existence because of falling revenues exacerbated by huge wage bills, according to a leading insolvency lawyer. In an interview with Reuters, Danny Davis, a partner in the London law firm Mishcon de Reya, said most football clubs appeared to be "in real financial difficulty". "The real issues the moment are that not enough people are going to the games, not enough people are watching them on television, the revenue is deteriorating, advertising is dropping. I think we are going to see some of these clubs go out of existence," he said. Davis said huge wage bills were a primary reason for the parlous position of so many clubs. "One of the reasons football clubs don't have too much money is that they pay their players too much money comparative to their operating income," he said. (Editing by Justin Palmer nz.sports.yahoo.com/football/news/article/-/6542209/british-clubs-likely-business?
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Post by haqpr1963 on Dec 2, 2009 16:58:56 GMT
"The real issues the moment are that not enough people are going to the games, not enough people are watching them on television, the revenue is deteriorating, advertising is dropping. I think we are going to see some of these clubs go out of existence," The first part of that pretty much sums us up at the moment.....
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Post by Lonegunmen on Dec 2, 2009 19:06:12 GMT
Huge wage bill is the most likely cause.
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