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Down on their uppers..........a crisis closer to home

yogi bear up the cagire

Life President⭐
Joined
May 8, 2008
Messages
15,336
Location
St Gaudens France
Found this article on the Independent on line. Whether or not you are a lover of Northampton Town, this is a sad story which will strike a chord with some aspects of our own situation. I can only empathise with the feeling of Cobblers' supporters and hope that things will turn out for the best. I well remember, in my youth, of their meteoric rise from Fourth to First division.............and then their meteoric fall. Good luck to them in their present situation.

http://www.independent.co.uk/sport/...-winding-up-order-are-in-crisis-a6696116.html
 

OldBlueLady

Junior Blues Coordinator⭐
Joined
Dec 27, 2007
Messages
48,100
Location
Benfleet
No football supporter wants to see their Club go through this stuff. It's something that many a Premiership Club supporter can have no understanding of. Maybe if they hadn't been paying such stupid wages to the likes of John-Joe O'Toole they might have been a bit better placed?

I am sure the majority of the lower league family wish them well in their struggle.
 

Massimo Giovanni

Old Timer⭐
Joined
May 10, 2011
Messages
8,559
Location
Siena
I believe most league clubs are skating on very thin ice with finances and I would hate for Cobblers to go bust and disappear. The Financial Fair Play is a good idea however it is plainly not working AND clubs are not making balancing their books enough of a priority.
it is a real catch 22 as they have tried to invest in their facilities to generate more income but haven't been able to follow the project to even half completion.
10mill + is a lot of money for what is an average stand on one side of the ground - I wonder where the money has gone as it hasn't all gone on that - isn't it illegal to borrow money stating it was for one purpose and use it for another -some sort of criminal deception/fraud? as maybe the council wouldn't have lent it if they had been told it would go towards general running costs?
This story has "legs" and will run and run but Cobblers may fold.
 

Jam_Man

Life President
Joined
Apr 7, 2005
Messages
25,545
Location
Southend
So a club pays wages they couldnt afford and gets themself into trouble.

Whilst I dont want to see clubs going out of business its the same old story of self inflicted damage, same as for us.
 
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