Offbeat L1 clubs on the brink of bankruptcy?

01:20  22 may  2020
01:20  22 may  2020 Source:   sports.fr

DFB allegedly threatened third division clubs with license withdrawal - Association rejects allegations

 DFB allegedly threatened third division clubs with license withdrawal - Association rejects allegations Magdeburg. The split 3rd division also plans to resume play in May. The problems in advance are big - and the dispute is escalating. The DFB rejected the allegations of Saxony-Anhalt's Prime Minister Reiner Haseloff. © Ronny Hartmann Claus-Dieter Wollitz can only train in small groups.

He was a financial genius whose ideas dominated western economic policymaking for 50 years, but he came perilously close to bankruptcy after a bet in the currency markets went spectacularly wrong, according to a study of John Maynard Keynes. His investment in shares, both on his own account and

UKIP was plunged into a fresh crisis last night as it was warned it faces ‘imminent bankruptcy ’ unless it immediately starts laying off staff and giving notice on its tenancies for office buildings. A group of senior party figures demanded radical cost-cutting to keep Ukip afloat, including ditching all mailouts to party

Le bilan financier établi par la LFP est inquiétant © Provided by Sports.fr The financial balance sheet drawn up by the LFP is worrying Several Ligue 1 clubs are "on the verge of filing for bankruptcy" according to Mediapart, which has obtained LFP documents. The club deficit could reach 541 million euros as of June 30. This is the crisis in Ligue 1 . Each year, with very rare exceptions, French professional clubs are in the habit of announcing losses, sometimes filled by their shareholders, under the control of the DNCG. For the 2018-2019 season, the Ligue 1 and Ligue 2 clubs posted an overall deficit of 160 million euros, including 126 million euros for L1 alone, and 91 million euros for OM alone. In 2020, the results will be much worse. Logically, clubs should show much larger losses by June 30. These correspond to the TV rights that the broadcasters refused to pay, and to the revenues that they could not touch with the matches that have been canceled (ticketing, sponsorship, partnerships ...). In total, the invoice linked to the Covid-19 would be estimated by the LFP at 586 million euros, regarding the loss of products. Recently, Jean-Michel Aulas spoke of global losses to the tune of 700 million euros. "There are clubs that will not spend the summer" To find cash, the clubs will receive aid from the State, via a guaranteed loan of 224.5 million euros. But this sum will not be enough to make up for all the deficits. "Despite this aid, some are on the verge of bankruptcy", is worried about Mediapart , which is based on economic documents from the LFP. One of them, in particular, projects on what the deficit posted by the 20 Ligue 1 teams should be at next June 30, at the end of the fiscal year. The colossal net deficit could thus climb to 541 million euros. Only a few clubs would benefit, very few. For others, the losses would be very significant. On the document, we see the estimated losses, club by club, even if the formations are not directly cited. The club in most difficulty would post 206.3 million deficit. It is probably the Olympique de Marseille . Three other teams are also largely in the red, with 127.6 million, 59 million and 54.1 million euros. Mediapart adds that "the Girondins de Bordeaux, AS Saint-Etienne and even Losc de Lille seem to be the most threatened" but is unable to confirm which figure corresponds to which club. This situation is worrying, according to Christophe Dugarry. "There are clubs that will not spend the summer, with or without a crisis, worries the RMC consultant. Let's not put everything on the back of the Covid-19 crisis. Things will happen in the coming years months and are going to be cataclysmic. " Before the crisis, the clubs were already betting very heavily on the future TV rights contract, which guarantees 1.153 billion euros per season during the period 2020-2024. More than ever, the future of French football is in the hands of Mediapro, which will come next season the main broadcaster of the championship.

Aulas suggests a friendly tournament this summer .
© Provided by Sports.fr Jean-Michel Aulas Noting the resumption of major European championships, Jean-Michel Aulas again challenged the Minister of Sports on Thursday. A bit resigned, however, the OL boss is planning a friendly summer tournament involving clubs that still have a trophy to play this season. The Premier League and Serie A, like the Bundesliga and La Liga, will indeed resume their course and go to the end of the 2019-2020 financial year.

—   Share news in the SOC. Networks
usr: 1
This is interesting!