Chester City FC wound up

[MikeA]

I hope Chester's fans can turn this around and that it won't take them 44 years.

The level of debt in the Premier League is frightening and sooner of later something's got to give. There was an excellent summary of each club's situation in the Independent last month:
The debt league: How much do clubs owe? - Premier League, Football - The Independent

[JEFF]

Originally Posted by Willie Miller

PS Meanwhile, a certain team who are climbing high in League 2 pay a goalkeeper £1 million pounds a year..... Why aren't the FA asking any questions there........ Madness, & yes its the FA's & Premier League's fault. Once Sky lose interest what happens then?

I don't think that Notts County actually pay their high earners wages. I think they are sponsored by Companies, so their wages aren't included in their 65% of turnover spending.

[Exile on Spencer St]

All good points, and my tuppence worth is that the Government and MacWhinney must take some blame for introducing a law that allows football clubs, unlike any other business in this country, to ignore their duty to pay tax and money owed to HMIR.
I think I understand the argument why this was brought in but, as ever with Government meddling, the law of unintended consequences always trumps wishful-thinking from politicians.
If clubs had to abide by the financial responsibilities of other businesses it might just stop a few of them building up such debts that there is no option but suicide.
The financing of football has always been somewhat unconventional but the last few decades has seen levels of risk-taking that would make a banker blush.

[loweiy]

If Notts county are paying more than 65% then it should show up in their PAYE returns ?

just a thought

stephen

[Exile on Spencer St]

Football clubs making PAYE returns? What next, tax?

[Willie Miller]

Originally Posted by JEFF

I don't think that Notts County actually pay their high earners wages. I think they are sponsored by Companies, so their wages aren't included in their 65% of turnover spending.

Which effectively makes the "rule" a sham....... and the FA obviously don't give a ****

[nige b]

Originally Posted by Willie Miller

Which effectively makes the "rule" a sham....... and the FA obviously don't give a ****

and to make it more of a sham said goalkeeper is on a £200k bonus for promotion, where is that going to come from! £7m in debt with average gates of 6000 it's going to take a while to pay that off. Also ref companies paying the high earners: living in Nottingham and knowing a fair few Notts fans(let's face it there are only a few) this is the first i've heard of this and when put to them they looked equally bemused. i suppose the whole farce may come out but to me they are in their position on bent/non existent money being paid to the likes of Schmeichel, Davies,Rodgers and of course our friend the murderer without whom they would be mid-table at best

[JEFF]

I think it is Munto finance who are paying the wages
Notts County wages for Schmeichel, Campbell stun Football League chiefs | Premiership News | tribalfootball.com

[Exile on Spencer St]

I wonder if there would be financial synergies to be found by combining with other business interests to produce Notts County Football & Laundering Club.

[nige b]

Originally Posted by JEFF

I think it is Munto finance who are paying the wages
Notts County wages for Schmeichel, Campbell stun Football League chiefs | Premiership News | tribalfootball.com

Munto Finance pulled out in November and appear to be a bit of a ghost company anyway so i haven't got a clue who is funding the club, if in fact anyone is as the new owner (ex Lincoln) certainly hasn't got the wedge to fund their debt and operating costs.

[AccyMad]

Whatever way Notts County dress it up, it's cheating to have players on wages that they can't afford - and when the investigation into their financial affairs is finished I hope they get what they deserve, a points deduction

[Chewbacca]

For League 2 shareholder donations can be used to pay players on top of the turnover % allowed.

This is what everyone thought Notts were doing, and would have been within the rules.

[jaysay]

Originally Posted by Exile on Spencer St

Football clubs making PAYE returns? What next, tax?

Football clubs are no different than any other company, football players do pay tax, when clubs get into difficulties its usually because they have not been forwarding PAYE of their players to HMRC