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Football Finance


Surprise purchaser of Port Vale

Lancashire businessman Keith Ryder has been named as the surprise preferred choice to take Port Vale out of administration.  

Ryder, who has worked in the financial services and property development industries, was chosen ahead of four other bidders, including local businessman Mo Chaudry who has been trying to buy the club for some time.   In many ways he was the preferred choice of fans, but supporters' groups have pledged that they will work with the new owner.

Rangers should escape liquidation

It is looking increasingly likely that Rangers will be able to escape liquidation and come out of administration by the end of the season through a company voluntary arrangement rather than through the formation of a 'newco'.

Four bids were submitted by the deadline yesterday evening.   Former Rangers director Paul Murray's Blue Knights consortium is joined by bids from Germany, the United States and Singapore.   Sale Sharks owner Paul Kennedy said that he would only bid if he thought the winner would put the club into liquidation.

Budgets in the Championship

A Leeds fan has been taking a careful and detailed look at club budgets in the Championship.  The context for this is the debate at Leeds about whether enough money has been invested in the team: the club thinks that the budget is a good one, but many fans disagree.   However, his analysis is not just about Leeds but looks at the financial picture in the Championship as a whole and provides a considerable amount of detail.

One in five clubs in poor financial health

One in five clubs in the English Football League is in 'poor financial health' according to a survey by administrators Begbies Traynor.   Of 68 teams surveyed in the three divisions of the Football League, 13 have signs of distress such as serious court actions against them, including winding-up petitions, late filing of accounts and 'serious' negative balances on their balance sheets.

The cost of relegation to League 2

Any relegation is difficult for a club.   It's a blow to morale and a big financial setback as well.  But the costs of relegation from League 2 to the Conference are particularly heavy.   Just look at the clubs who have found it difficult to return to the Football League: among them Grimsby, Lincoln, Luton, Mansfield and York (who have had the longest stay at the lower level).

New winding up petition at Truro City

Truro City have been served a second winding up order in under six months.   Revenue & Customs are taking the White Tigers to court on April 30th for unpaid tax.

Truro now owe £51,000 and Revenue and Customs are in no mood to be lenient after receiving a six figure fee for unpaid taxes two hours after the last hearing in January.

The Cornish club achieved five promotions in six seasons under millionaire owner Kevin Heaney, but have now been excluded from plans for a 'Stadium for Cornwall'.

Good profit at Leeds but still some concerns

Leeds United have seen big increases in turnover, gate receipts and central distribution payments from the Football League since their promotion from League One in 2010.   They have recorded an operating profit of £939,00 and a total profit of £3.5m in the 2010-11 financial year.

Losses and debts rise in Italy

Losses and debts rose among Italy's leading clubs last season.   Losses by professional clubs rose 23.2 per cent in the 2010-11 season to €428m.  Debts in Serie A increased 14 per cent to €2.6bn.  

The number of spectators at Serie A matches fell by 2.4 per cent with average turnout at a disappointing 56 per cent of stadium capacity.   This was in spite of the fact that the average top division ticket costs €20.90 compared with €50.40 in Spain and €48.30 in the UK.

At least three bidders for Vale

Three bids have already been made for Port Vale FC and more might well come in.  At present neither former director Mo Chaudry or local firm International Piping Products have made a bid.

Joint administrator Bob Young told fans at an open meeting, "We have three offers already and we're talking to three other parties with a couple of those likely to make bids," said Young.  "We will set a closing date for bids either tomorrow night or Monday at midday.

Boost for Southampton

With promotion to the Premiership in their sights, Southampton have received a big financial boost with the news that £33m of loans invested in the club by the estate of former owner Markus Liebherr will not have to be paid back.   The money has now been converted into shares, removing it as a liability.

The accounts show that the club made a net loss of £11.5m winning promotion from League One last season.   Total revenue excluding transfers rose by 11 per cent to £16.4m and group wages made up 93 per cent of turnover.