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"If you want some accessible but informative insight into football then I suggest you couldn't do better than the Political Economy of Football website, which is not only intelligible but comes with the added bonus of being written by Addicks fan Wyn Grant."
Ben Hayes - Charlton Athletic programme



New era in football finance

In the past wealthy individuals from the Middle East and Russia with money to burn bought football clubs as a prestige acquisition or a form of political insurance.   By and large, the days of individuals with deep pockets are over for reasons that have been discussed before on this page such as the fall in the oil price.

Northampton Town sold

Northampton Town has been sold to former Oxford United chairman Kelvin Thomas.   The deal has the approval of Northampton Borough Council who are owed £10.25m for work at and around the Sixfields stadium that was never completed.   HM Revenue & Customs are owed £166,000 and are bringing a winding up petition.

American investment boost for Palace

Crystal Palace have agreed in principle a deal with American investors to take a 36 per cent stake in the club. The lead investor is Josh Harris, owner of the New Jersey Devils and Philadelphia 76ers. Talks have been taking place for some time, but stalled earlier in the year.  An agreement is expected by Christmas.

Cortese considers Leeds takeover

Former Southampton chairman Nicola Cortese is considering a takeover of Leeds United.  He is contemplating an attempt to buy out Massimo Cellino.

Not without reason, Cortese believes that Leeds could be a leading force in English football.  They have been in the past and Leeds is a regional capital within the Northern Powerhouse that the government is boosting.  This may be more rheotoric than substance, but Leeds as a city is prospering. At the moment, however, there is no real crossover between the club and the city it represents.

Blackpool fan takeover rejected

Blackpool owner Owen Oyston has ended talks with the club's Supporters' Trust over a possible takeover. The Trust had launched a £16m bid in July.

In a letter on the club's website, Oyston said: 'I believe that if you were left to run the club you would go to the wall because you do not have any money or the experience necessary to support the club in its moment of need.'

'It would be irresponsible of me to simply hand this over to you as it is clear to any independent observer that you could not operate it successfully.'

Could Leeds be sold to fans?

The Leeds Fans Utd supporters group says that it has reached 'an agreement in principle' to purchase Massimo Cellino's majority stake in the club.   Unfortunately, there may be quite a gap between the principle and its execution in practice.

Cobblers' takeover is off

It's been one of the most protracted and secretive takeover negotiations in recent football history, certainly in League 2, but negotiations with a mystery Indian consortium that wanted to take over Northampton Town have now been called off.

According to a statement from the London-based consortium, they encountered 'insurmountable' problems and complications at the due diligence stage.

Exiles fans reach takeover target

Newport County Supporters' Trust have raised the funds they need to secure control of the club.  They now become the fourth fan owned club in League Two alongside Exeter City, Portsmouth and Wycombe Wanderers.

Wolves up for sale

Wolverhampton Wanderers have been put up for sale by owner Steve Morgan after eight years at the helm.   He bought the club from Sir Jack Hayward in 2007 for £10 with promises of £30m of investment. He is not likely to sell for £10.  The asking price is unknown, but around £25m has been mentioned.

Two West Midlands Premier League clubs, Aston Villa and West Bromwich Albion, have been available for some time.   As has been noted in earlier posts, there are not many quality buyers around at the moment.

Where have all the investors gone?

It's been a very slack news period recently which is why I haven't been posting much.   Financial results, of course, are often out by now.   However, there has been a dearth of takeover stories.

When you think about it, a lot of potential investors have disappeared.   The fall in the oil price hasn't helped, as a lot of them come from countries where oil and gas contribute a major part of national revenues.