WG

Nursery team debate won’t go away

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Arguments about the desirability of nursery clubs are likely to gather momentum in the new year. Some see it as a way of bringing greater financial stability to lower league clubs and as a way of more effectively assisting the development of younger English players. Others see it as reinforcing the dominance of big clubs in the game.

Some top clubs would like to follow the Spanish model of fully fledged ‘B’ teams competing in the lower divisions. However, this would be a step too far for the football authorities and most fans.

Vale chairman admits budget was ambitious

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Port Vale chairman Norman Smurthwaite has admitted that Port Vale are operating to an over ambitious budget.    It required average home attendances of 7,500.   The playing budget amounts to £300k a month.  Smurthwaite has put in £1m to deal with the shortfall and this may have to increase to £1.2m. Being a football club chairman is an expensive hobby, even in the lower divisions.

Debt for equity swap at Leicester

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Leicester City’s Thai chairman, Vichai Srivaddhanaprabha, has effectively wiped out the £103 million he was owed by the Foxes in a deal known as a ‘debt-for-equity swap’. In other words he’s exchanged the debt he was owed for shares in the club. The family made their money through international duty free shops.

New financial problems at Port Vale

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Port Vale have encountered a number of financial problems in recent years. Their finances are under the spotlight after chairman Norman Smurthwaite told football agents the club is unable to currently pay money owed to them.

Margate aim for Football League

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Ryman Premier League club Margate FC hope to close to joining the Football League in three years time following a takeover. New owner Bob Laslett is a former Wolves director and heads Chaucer, a global consultancy company based in Kent.

Laslett has provided the funds for the much needed redevelopment of the club’s Hartsdown Park stadium. The work will start in February and should be completed in twelve months. There are also plans for a hotel.

What is the plan at Spurs?

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What is the long-term management plan of Joe Lewis, the majority owner of Enic, the company that owns Tottenham Hotspur, and of his representative on Earth, Daniel Levy?

In the longer run, they may want to sell the club. Champions League football would make Spurs a more attractive proposition, but so would a redeveloped stadium.

Mackay for the high jump

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Cardiff City manager Malky Mackay looks like being the next Premier League manager to depart. Owner Vincent Tan has told him to resign or be sacked. Apparently, the club has talked to four possible successors.

This enthusiasm for sacking managers comes at a cost. Should Mackay be sacked, he will be entitled to the full value of his contract which ends in 2016 and is worth £2.5m.

Rangers board sees off challenge

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As anticipated, the Rangers board has seen off a challenge by rebel shareholders. The board defeated attempts by a group of shareholders led by former chairman Malcolm Murray to gain seats, with a comfortable majority.

About 1,800 shareholders greeted the club’s board with chants of ‘out, out, out’ at the AGM which was held on a specially constructed stage at Ibrox stadium.

About a third of shareholders voted against the reappointment of finance director Brian Stockbridge – the only remaining director of the club’s original board. His long-term future remains unclear, however.