Venkys - Welcome or Not?

[lraC]

I came across this when carrying out some work today and thought it was quite interesting.

It may be a different set of rules for a football club, especially one with wealthy owners, but had me thinking all the same.

https://www.clarkebell.com/blog/is-it-illegal-to-run-an-insolvent-company/#:~:text=Wrongful trading,-If a company's&text=In fact%2C it is a,to a state of solvency.

Edited June 6, 2023 by lraC
Adding link

[JohnD]

That's an interesting question.

A company I worked for became insolvent when rules regarding the reporting of pension fund deficiencies changed.

The board immediately declared the insolvency along with a valid plan to resolve the issue.

I can't believe it applies to football clubs because most/many are trading whilst insolvent.

Why should they be different?

[lraC]

11 hours ago, JohnD said:

That's an interesting question.

A company I worked for became insolvent when rules regarding the reporting of pension fund deficiencies changed.

The board immediately declared the insolvency along with a valid plan to resolve the issue.

I can't believe it applies to football clubs because most/many are trading whilst insolvent.

Why should they be different?

I guess if the same rules applied, we would have clubs going bust, all the time. It’s a wonder how FFP is allowed really, if football is an exception to the rule.

It’s difficult to understand how the announcement made about City being investigated comes out, yet they carry on regardless and Newcastle suddenly become rich and then qualify for the champions league. 
Further down the pyramid, Wrexham are looking like the next Luton, now that they have wealthy owners and Wigan, who seem to have dodgy owners look like they are heading home n the opposite direction.

Meanwhile at Ewood the ground and the pitch carry on being neglected, whilst it is reported that the owners, never fail to sign a cheque. 

It’s a strange old world, our beautiful game.