From the Press box

Nicole Carroll: A one woman mission to make a name in football

Financial shoots of growth?

with 2 comments

On the day where Portsmouth are expected to go into administration, it is not doom and gloom for all the Premier League clubs.

Arsenal have posted numbers today that show that they have made a pre-tax profit of £35.2 million, and have reduced their net debt by a whopping £129.2m, down from £332.8m to £203.6m.

Although Arsenal have sold big name players during this time, such as Emmanuel Adebayor and Kolo Toure to Manchester City, for a combined fee of around £29 million, the side also signed Ajax’s Thomas Vermaelen for £10m.

Although one of the Premier League’s biggest clubs seem to be gaining a grip on their debts, another club have been hit by a winding up order.

League two side Bournemouth have been given the order over a £314,000 unpaid tax bill, and they have been given until March 31st to pay this.

Although Bournemouth claim they have £100,000 to pay immediately, it leaves them four weeks to raise the outstanding £214,000.

Bournemouth have been struggling financially for around a year now, and have survived going into administration once in 2008.

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Written by Nicole Carroll

February 26, 2010 at 11:00 am

2 Responses

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  1. As expected Portsmouth did got into administration and were docked 7pts – that should mean relegation is on the cards – over spending has got out of hand – i know the fans call for signings and spending but at some point there has to be someone saying enough is enough – im a forest fan and although we would love to be back in the premiership its not worth throwing money just to get up for a season (or 2) and then lose all our young talent to bigger clubs now the lads have ad a taste of the money and glamour – it just does more damage to the club
    Great site.

    Locksmith Nottingham

    February 26, 2010 at 4:47 pm

    • I think the slow but steady approach is a model all clubs are going to have to use in the future, Portsmouth won’t be the first to fall into major trouble, and they aren’ the last. Chester were thrown out of the conference today aswell, a real mixed bag day for finances in football. Theres a fantastic article here by an insolvency expert, the stuff about Liverpool is very interesting at the end, and a scenario we may well see if they struggle to secure this fourth place.

      Thanks for reading and supporting this, its early days but had an overwhelming response in the last few days! Hopefully lots of interesting stuff will happen this week to give me something to talk about!

      Nicole Carroll

      February 26, 2010 at 5:01 pm


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