Pingdinho Posted October 11, 2014 Share Posted October 11, 2014 My club is valued at £0. That's bad, right? It certainly sounds bad! Serious question though; what implications could this have? I'm managing Oxford City and am currently in the Skrill Premier. The club has never been in a good financial position in the 5 years I've been with them but somehow we've always managed to keep going. Normally when things get bad, the board injects some cash and we carry on. The board haven't done this for a while though and I'm starting to get hampered by low budgets. I've been focusing on doing all I can to bring success to the club as I figured that's really the only practical way for me to help improve the finances. If the board allows me to do something, then I will do it if I think it will make us a better club. But now I've noticed the club valuation of £0 I'm starting to wonder if things are about to hit the rocks. We also have about £30K debt (the board took out a loan a few years back to upgrade the stadium after being promoted). I'm kind of hoping that we get taken over by some mega-wealthy tycoon, but apparently the chairman will never leave the club of his own volition, so am not certain how likely that scenario is. Has anyone been in a similar situation to this and how did it play out? Is it possible for a club to die under a huge pile of unpaid bills? Link to post Share on other sites More sharing options...
Jason the Yank Posted October 12, 2014 Share Posted October 12, 2014 I have $60 US in my pocket ATM. I'll mount a takeover of your club. Link to post Share on other sites More sharing options...
Chinook2000 Posted October 12, 2014 Share Posted October 12, 2014 I have $1,000 that should make £1 on the exchange rate. Sod the Football Club that much land in Oxford for sod all!! Link to post Share on other sites More sharing options...
podunkboy Posted October 12, 2014 Share Posted October 12, 2014 I was messing around with a save this year where the team was valued at $2. Hard to get much done at that point, just survive and look for some low-level diamonds to sign and sell. Link to post Share on other sites More sharing options...
ozzyoscy Posted October 12, 2014 Share Posted October 12, 2014 Oxford Well that explains everything for me. Link to post Share on other sites More sharing options...
phnompenhandy Posted October 12, 2014 Share Posted October 12, 2014 In real life big clubs are sometimes sold for 1 GBP. It means the new owner is taking on the debts, which might be a few million (or hundreds of thousands in a non-league case. Link to post Share on other sites More sharing options...
Gandy Posted October 12, 2014 Share Posted October 12, 2014 In real life big clubs are sometimes sold for 1 GBP. It means the new owner is taking on the debts, which might be a few million (or hundreds of thousands in a non-league case. If I remember correctly, that was the case with Portsmouth? Link to post Share on other sites More sharing options...
Chesters86 Posted October 12, 2014 Share Posted October 12, 2014 In real life big clubs are sometimes sold for 1 GBP. It means the new owner is taking on the debts, which might be a few million (or hundreds of thousands in a non-league case. Ken Bates bought Chelsea for £1 didn't he when they we about to go out of business? Link to post Share on other sites More sharing options...
Elliotmbyrne Posted October 12, 2014 Share Posted October 12, 2014 Leyton Orient were sold for 5 pounds because the owner, Tony Wood, lost his coffee business in Rwanda because of the civil war. Barry Hearn brought us for a fiver. Link to post Share on other sites More sharing options...
Jibby123 Posted October 12, 2014 Share Posted October 12, 2014 You need the £1 figure to make the contract of purchase legal I think. As in to be given to you for nothing, not bought, brings in a whole different set of rules and all that guff. I've seen a multi-£100 million enabling and support 25 year contract signed for a pound. They mounted it (the pound coin) in a frame with loads of blurb in their reception. Link to post Share on other sites More sharing options...
Chinook2000 Posted October 12, 2014 Share Posted October 12, 2014 Ken Bates bought Chelsea for £1 didn't he when they we about to go out of business? Rip off!! Link to post Share on other sites More sharing options...
ozzyoscy Posted October 12, 2014 Share Posted October 12, 2014 Rip off!! Yeah, it's not like some billionaire foreign oil magnate is gonna come along and buy it off you in the future. Link to post Share on other sites More sharing options...
Gandy Posted October 12, 2014 Share Posted October 12, 2014 I doubt he would have had that in mind when he made the purchase Link to post Share on other sites More sharing options...
Chinook2000 Posted October 12, 2014 Share Posted October 12, 2014 Russia was Communist when Ken bought them without an Oligarch in sight perhaps it was the downtrodden dump of an area it was situated that attracted him. Or the easy parking it provided around the edge of the pitch. Link to post Share on other sites More sharing options...
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