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Methven says..

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Black Cat Gypsy said:
Fuck off Charlie.

Why do people think the government should bail out clubs? Should they also bail out rugby clubs and cricket clubs?
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Because the economic fallout around the loss of a club far outweighs what is needed for a bail out. In other words, it costs more in the long run not to effect the bail out, particularly if a large number of clubs go to the wall. There's also political fallout. Voters in a constituency that loses a club that was stable before Covid and could have been rescued will remember on whose watch it happened. We're not talking here about basket cases that would have gone bust here; we're talking about inherently viable businesses. If a theatre is worth bailing out, so is a football club.
 

Grumpy Old Man said:
Not if it's a one-off. Current trading performance will be pretty much discarded in favour of an assessment of where the business is under normal trading conditions. In other words, the impact of Covid will be pretty much ignored. Most solvent businesses change hands at values way above the sum of the assets acquired. The difference is what is known in the trade as "goodwill", a somewhat nebulous quality essentially reflecting that a business is usually worth more than the sum of its parts.
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Surely a loss is a loss even if it is a one-off. In other words any new owner will have to find this 7 million from somewhere, which surely will be a prime consideration in what they are prepared to pay for the club.
 
The Rat said:
Why doesn’t he pay back the 20 million then?
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That's exactly what will happen when Donald has to cover the losses from Madrox's band account - "See, we said we'd pay the money back when it was needed". Whilst not handing over the other £13m.
 
Grumpy Old Man said:
Because the economic fallout around the loss of a club far outweighs what is needed for a bail out. In other words, it costs more in the long run not to effect the bail out, particularly if a large number of clubs go to the wall. There's also political fallout. Voters in a constituency that loses a club that was stable before Covid and could have been rescued will remember on whose watch it happened. We're not talking here about basket cases that would have gone bust here; we're talking about inherently viable businesses. If a theatre is worth bailing out, so is a football club.
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It doesn't answer my question. Why only football clubs? Why not rugby clubs and cricket clubs? And where does the money come from? Other sectors need bail outs and a lot of them more important than football clubs. The NHS is going to need funding too.
 
Rizla said:
Surely a loss is a loss even if it is a one-off. In other words any new owner will have to find this 7 million from somewhere, which surely will be a prime consideration in what they are prepared to pay for the club.
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Not if the loss can be sustained by the business without resort to additional external funding. The prime consideration will be asset values, plus an amount for the perceived value in the trade itself. To that extent, events not likely to recur will be largely ignored, or the subject of a contingency clause.
 
magic snood said:
Amazed anybody did to be honest, wasn't it made clear that you would get a stream pass in lieu of a match ticket? Difficult to argue for a refund if you bought one after they said that.
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It certainly is, bearing in mind all the warning signs were there to see..............
 
Black Cat Gypsy said:
It doesn't answer my question. Why only football clubs? Why not rugby clubs and cricket clubs? And where does the money come from? Other sectors need bail outs and a lot of them more important than football clubs. The NHS is going to need funding too.
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Any business reliant on the attendance of members of the public should be supported if it is viable under normal trading conditions. The sums involved look enormous, but in terms of GDP they really aren't. UK GDP in 2019 was £2.21tn. To bail out the whole of the EFL would require around £200m at most. that's roughly 0.009% of GDP. The NHS spends around £350m per day. So far as funding is concerned, borrowing has never been cheaper. Governments can borrow at pretty much zero interest rates. A rise in certain taxes (notably corporation tax) wouldn't go amiss either.
 
magic snood said:
Amazed anybody did to be honest, wasn't it made clear that you would get a stream pass in lieu of a match ticket? Difficult to argue for a refund if you bought one after they said that.
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I renewed early......you fleece a customer for buying a season ticket and then offering them a stream at double the price of a stream you are already offering for 10 pound .... . ..it's not like for like and I will be talking to the club first..then my credit card company then the small claims court.....those charlitains ain't getting away with this!.
 
oddbod said:
I renewed early......you fleece a customer for buying a season ticket and then offering them a stream at double the price of a stream you are already offering for 10 pound .... . ..it's not like for like and I will be talking to the club first..then my credit card company then the small claims court.....those charlitains ain't getting away with this!.
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No one's forcing you to take the stream. If you don't take it up you'll get a pro-rata refund when things go back to normal.
 
oddbod said:
Gutted mate paid 400guid for a st and getting a 10 a quid stream ..........will need a rebate or will take them to court or get the credit card people onto it as a stream ain't the same financial value!
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If you don't use the stream via the st code you get a full refund anyway don't you that's why I haven't activated mine.
Cheaper just to pay a tenner for the stream
 
legend7 said:
If you don't use the stream via the st code you get a full refund anyway don't you that's why I haven't activated mine.
Cheaper just to pay a tenner for the stream
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That's fine for you fella and also ammunition to sort out a pro rata refund!
 
Grumpy Old Man said:
No one's forcing you to take the stream. If you don't take it up you'll get a pro-rata refund when things go back to normal.
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You cannot sell a pass for a stream for ten pound and ask season ticket holders to pay double....I bought in good faith in early April paid via credit card to buy a season ticket.... I took up the stream also in good faith that I would not be fleeced....later the option was stream or full refund.........I took it in good faith that the cost would be deducted from my season ticket and I would get a pro rata refund......... I assume you think I won't get a refund?let's wait and see if I don't that's me finished with this low rent trotter wannabe double act.
 
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oddbod said:
You cannot sell a pass for a stream for ten pound and ask season ticket holders to pay double....I bought in good faith in early April paid via credit card to buy a season ticket.... I took up the stream also in good faith that I would not be fleeced....later the option was stream or full refund.........I took it in good faith that the cost would be deducted from my season ticket and I would get a pro rata refund......... I assume you think I won't get a refund?let's wait and see if I don't that's me finished with this low rent trotter wannabe double act.
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it was said either take the stream or a refund. If you took the stream then you won’t be entitled to any kind of refund
 
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