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Football Finance


Market volatility puts United offer on hold

Preparations for Manchester United's $1 billion initial public offering in Singapore have been put on hold because of market volatility.  However, it may yet go ahead in the fourth quarter.   Talks are continuing with cornerstone investors such as Temasek, the Singapore state investment agency, despite claims by the Manchester United Supporters' Trust that negotiations had broken down.

Ridsdale forecasts doom and gloom for Everton

These comments by Peter Ridsdale about Everton are straight from the daft comments department and I only reproduce them because there are some interesting observations by supporters of the Toffees on the link.   Relegation would be challenging for Everton, as it is for most big clubs, but whatever else you say about the club they have shown a capacity for long-term survival in the top flight.

Benefactor model faces challenges in France

The benefactor club model has worked well in England in the sense that it has delivered success to clubs like Chelsea and Manchester City and, on a smaller scale, Fulham.   It does, however, face greater challenges in France.

AFC Bournemouth chairman defends strategy

Controversial Bournemouth chairman Eddie Mitchell has defended his strategy at the football club.   He has been under criticism for failing to reinvest in the squad after selling off almost all the players who reached the League 1 play offs last year.

Argyle players defer wages again

At the request of the administrators Plymouth Argyle players have agreed to defer the outstanding 60 per cent of their wages until Monday week.   By that time it is hoped that a takeover of the club can be sorted out.   Yesterday captain Carl Fletcher and goalkeeper Romain Larrieu met with James Brent who is now the leading bidder for the troubled club.

Heaney pulls out at Plymouth Argyle

After five months when the money was supposedly available but never appeared, property developer and Truro City owner Kevin Heaney has pulled out of his bid to take Plymouth Argyle out of administration.   He blamed banks for being unwilling to lend to property developers and football clubs, but it is not surprising that they would regard that as a toxic combination in the current financial climate.

Rangers have nearly £500k of assets frozen

Rangers had £480k of their assets frozen yesterday after a judge decided that there was a real risk of the club becoming insolvent if they lost their case against the taxman.   This is on the top of the £2.3m apparently already frozen in relation to the smaller of two tax claims from Revenue and Customs.

Glazers to keep tight grip on United

The Glazer family will keep a tight grip on Manchester United after a third of the club is sold off.     Two-thirds of a $1 billion dollar (£630m) initial public offering on the Singapore stock exchange will be through non-voting preference shares, keeping as much as 88 per cent of the voting rights in the hands of the Glazers.   Just 12 per cent will be in the form of ordinary shares with full voting rights, the minimum required by the Singapore stock exchange.

Chelsea ticket prices criticised

Chelsea's policy of raising ticket prices for Champions League matches has come under some criticism.   Apparently there was a strangely subdued atmosphere in last night's victory at Stamford Bridge over Bayer Leverkusen in front of a below capacity crowd of 33,820.   Some fans have even talked of a boycott of the home game against Gent.

Big boost for Port Vale

After a difficult time for the club, Port Vale has been given a big boost with news of a £5m investment over the next 12 months by American company Blue Sky International.    There aren't many details at present but the total investment is said to amount to £8m.

The funds will be spent on the running of the club, Vale Park (where there is work which is incomplete), a training area and facilities for the local area.   An additional £500,000m will be spent on pre-season tours over the next 10 years.