Tag Archives: debts

Ricky Van Wolfswinkel joins Norwich City

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Hughton hails 8.5m Van Wolfswinkel capture as Norwich strengthen frontline

By
Steve Martyn

PUBLISHED:

23:53 GMT, 22 March 2013

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UPDATED:

18:57 GMT, 23 March 2013

Norwich City are to smash their club
record transfer fee with the 8.5million signing of sought-after Holland
striker Ricky van Wolfswinkel from Sporting Lisbon.

The 6ft 1in Van Wolfswinkel has agreed a four-year contract following three days of negotiations between the clubs.

The 24-year-old, a one-time transfer
target for Liverpool and Tottenham, will arrive at Carrow Road on July 1
after seeing out the season with the Portuguese club.

On the move: Norwich City have signed Ricky Van Wolfswinkel (centre)

On the move: Norwich City have signed Ricky Van Wolfswinkel (centre)

Norwich manager Chris Hughton said: 'Ricky's profile is a perfect fit for us – he's young, ambitious and a proven goalscorer.

'He has an excellent goalscoring pedigree and he is very keen to continue his personal progression and play in England.

'He's already an exciting talent but he still has more development as a player ahead of him.

'I'm delighted we have been able to agree a deal with Sporting Lisbon and with Ricky.

'Now we look forward to welcoming him to the squad in July, once all of the paperwork gets sorted out.'

Great name: Van Wolfswinkel has scored 13 goals in Portugal this term

Great name: Van Wolfswinkel has scored 13 goals in Portugal this term

Van Wolfswinkel has so far scored 82 goals in 188 appearances for Sporting and his Dutch sides Utrecht and Vitesse Arnhem.

He netted 25 goals for Sporting last season and has added another 14 so far in the current campaign.

Sporting were reluctant sellers but massive club debts have forced them to part with their prized forward.

Van Wolfswinkel's only senior cap for Holland came in August 2010 for a friendly against Ukraine.

His arrival easily beats Norwich's
previous record transfer fee, the 5.5m paid to Tottenham for Cameroon
central defender Sebastien Bassong last summer.

Portsmouth fans given go-ahead to take over stricken club after Chainrai snub

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Portsmouth fans given go-ahead to take over stricken club after Chainrai snubbed

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UPDATED:

17:24 GMT, 18 October 2012

Portsmouth's administrators have
nominated Portsmouth Supporters Trust (PST) as their preferred bidder to
take over the npower League One club.

Administrators PKF have been seeking a
new buyer for the club since it was placed under its control in
February with debts of 61million.

Troubles: Portsmouth are down in League One

Troubles: Portsmouth are down in League One

Trevor Birch, PKF partner and joint administrator of Portsmouth, said in a statement: 'After extensive discussions over the past few weeks, we have today nominated Portsmouth Supporters Trust as the preferred bidder for Portsmouth football club.

'We will be working with the Trust, the Football League and the Professional Footballers' Association to conclude the sale of the club as soon as possible.'

PST's emergence as the favoured bidder appears to rule out Balram Chainrai's claims that his company, Portpin, will be the club's new owners.

The Hong Kong-based businessman spoke out last week to deny claims that the Football League had expressed concerns over his suitability.

He said in a statement: 'Our discussions with the Football League have been positive and are progressing.

'As far as we are aware we have satisfied the majority of the criteria and we expect now to work through the last remaining points with the Football League in the coming days.

'We are very confident that we are in a position to complete the acquisition of Portsmouth Football club in the near future.'

Chainrai was at the helm when Pompey went into administration in 2010 and it is thought he could have been involved when they were placed back in administration eight months ago.

The rules of the Owners and Directors test stipulates that a person who has twice been involved with a club going into administration cannot become an owner or director.

Despite the PST's new position as the administrators' preferred bidder, it is likely Chainrai will contest any takeover as he is owed 18million by the south coast club and holds Fratton Park as security.

Iain McInnes, proposed chairman of Portsmouth under the PST bid, said in a statement: 'We are energised that our bid, by the fans and for the fans, has been preferred by the club's administrators.

'Although there remains a huge amount of work to be done to ensure the right outcome for the club, we are confident we will succeed.

'We believe our bid is realistic and credible, which is a view shared by the administrator. We will be working closely with Trevor Birch and his team in the coming days and weeks to ensure our bid will meet all legal and financial requirements.'

A statement from a Portpin spokesman said: 'We continue to work with the Football League to ensure we are ready to complete the acquisition of Portsmouth.

'Our discussions remain productive and we have been given no reason to believe there are any remaining obstacles to our bid.

'Whilst we note PKF's decision, we recognise that preferred bidder status has no basis in law.

'We are confident that our bid offers both the best deal for creditors and is the only fully funded offer to provide Portsmouth FC with a financially sound and sustainable future.'

Bradford Bulls owe 1.5million

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Endangered Bulls' debts revealed to be around 1.5m

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UPDATED:

11:55 GMT, 3 August 2012

Bradford are around 1.5million in debt, it has been revealed.

The beleaguered Bulls are the subject of a takeover offer from Super League (Europe), the umbrella organisation for the 14 top-flight clubs, which, if accepted, would stave off the threat of liquidation and ensure they see the season out.

Joint administrator Brendan Guilfoyle, who has been running the club since it went into administration on June 26, is expected to give his answer early next week.

Debt: Bradford Bulls owe about 1.5million

Debt: Bradford Bulls owe about 1.5million

In the meantime, Blake Solly, the Rugby Football League's director of licensing and standards, shed more light on the financially-stricken club in a meeting with BullBuilder, the Bradford supporters trust.

In the meeting Solly said he could not guarantee the Bulls would remain in Super League for 2013 and revealed that, if the bid is accepted, the Bradford players would be free to speak to other clubs to secure their futures for next season.

A statement released by BullBuilder said: 'In a constructive meeting, we established that SLE look on this as a short-term measure and are confident of attracting a long-term, unconditional bid in the near future.

'Solly could give no guarantees about the division in which the club will play next season: he commented that the debt of the club remains a concern and is estimated to be approximately 1.5m.

'However, he assured BullBuilder that the club would continue to play at Odsal for the foreseeable future.

'If the SLE bid is accepted, we understand that players will then be free to speak to other clubs to secure their future for next season.'

Bradford head coach Mick Potter, who met with Solly and RFL chief operating officer Ralph Rimmer and his squad yesterday, said the players – 17 of whom are out of contract at the end of the season – remain frustrated by the continuing uncertainty.

While the players have received their wages on time throughout the crisis, Potter and his coaching assistants, along with several members of the office staff who were also made redundant by the administrator, continue to work on a voluntary basis.

The statement continued: 'Where recently redundant backroom and coaching staff are concerned, there is a likelihood that some may be re-employed.

'However, in the interim, those staff are still not being paid and are unlikely to be reimbursed for their unpaid work in the meantime, so the hardship fund instigated by BullBuilder is still required.

'Therefore, BullBuilder intend to carry out a bucket collection in support of the hardship fund at Sunday's home game against Widnes.'

The fund, administered by the club's pastor, Warren Evans, has raised 4,200 so far to help relieve financial distress.

The Super League players' association, 1eagu3, gave a cautious welcome to SLE's offer to buy Bradford on behalf of the other 13 clubs.

'I am pleased that the uncertainty that has shrouded the Bulls in the short term has been lifted,” said 1eagu3 chief executive Ernie Benbow.

'However, there remains a significant question mark over the Bulls as a Super League club following this season.'

Santi Cazorla set for Arsenal medical

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Cazorla set for medical as Gunners close in on 17.3m deal

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UPDATED:

22:06 GMT, 1 August 2012

Santi is coming to town: The Malaga ace is set for a medical at Arsenal

Santi is coming to town: The Malaga ace is set for a medical at Arsenal

Malaga's Santi Cazorla is due to fly into London this week for a medical with Arsenal once a 17.3million fee is agreed.

With Robin van Persie poised to leave, the capture of Cazorla, 27, is the major signing of the summer that Arsene Wenger has been promising.

Wenger was beaten to the signature of
the Spain midfielder last year by Malaga, who had been seemingly
enriched by their purchase by Qatari Sheik Abdullah Bin Nasser
Al-Thani.

But the club now have to clear huge
debts by the end of the month or face relegation to Spain's second tier,
the loss of their UEFA licence and Champions League expulsion.

Adding Cazorla to the signings of
Lukas Podolski and Olivier Giroud represents the most significant summer
strengthening since Arsenal imposed financial constraints on transfers
in 2004.

Arsenal capture 15m Santi Cazorla

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Wenger to deliver Santi as Arsenal bag 15m Spanish midfielder

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UPDATED:

22:26 GMT, 28 July 2012

Fantasy football 2012

Arsene Wenger expects to complete the club record 15million transfer of Santi Cazorla by Tuesday.

Though Malaga are holding out for
20m, Arsenal hope a debt deadline imposed on the financially-stricken
Spanish club will seal the deal.

On his way: Spain's Santi Cazorla

On his way: Spain's Santi Cazorla

With Robin van Persie poised to leave, the capture of Carzola, 27, is the major signing of the summer that Wenger has been promising.

Wenger was beaten to the signature of the Spain midfielder last year by Malaga, who had been seemingly enriched by their purchase by Qatari Sheik Abdullah Bin Nasser Al-Thani.

But the club now have to clear huge
debts by the end of the month or face relegation to Spain's second tier,
the loss of their UEFA licence and Champions League expulsion.

Arsenal
have been hampered by the lack of an authoritative figure to deal with
at Malaga, but with the player now set on a move and Qatari negotiators
flying in this weekend, there is hope the deal can be concluded swiftly.

Adding Carzola to the signings of Lukas Podolski and Olivier Giroud
represents the most significant summer strengthening since Arsenal
imposed financial constraints on transfers in 2004.

Bradford Bulls in administration

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Bulls on the brink as cash-strapped rugby league giants enter administration

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UPDATED:

10:17 GMT, 26 June 2012

Bradford Bulls have gone into administration and have just 10 days to avoid being liquidated.

Brendan Guilfoyle and Chris White, from insolvency firm The P&A Partnership, have been appointed joint administrators of the Super League club after it failed to find new investment to pay off crippling debts.

Guilfoyle said: 'We now have just 10 working days to save the club from liquidation because there are no funds to carry on longer.

In trouble: Bulls have just 10 days to avoid being liquidated

In trouble: Bulls have just 10 days to avoid being liquidated

'If there is anyone interested in buying the Bulls then we need to hear from them right now because this famous club is now on the brink of extinction.'

The Bulls directors filed a notice of intention to enter administration on June 13 in order to buy them more time to find investment, with HM Revenue & Customs threatening to wind up the club over unpaid tax, and the moratorium ended yesterday.

Fans rallied around earlier this year, responding to a plea from former chairman Peter Hood by raising around 500,000 in a fortnight to pay bills after the bank cut the club's overdraft facilities, but Guilfoyle revealed recently that a further 1.2million was still needed to safeguard the club's future until the end of the season.

It is understood Bradford currently owes 98,000 in PAYE tax from May and the same amount for June, plus an outstanding VAT bill of 250,000 from the sale of the Odsal lease to the RFL, while the monthly wage bill is over 200,000.

Under lock and key: Administrators have been brought in at Bradford

Under lock and key: Administrators have been brought in at Bradford

Guilfoyle, who was at Odsal to break the news of the administration to employees, added: 'The directors made every effort to try to save the club within the 14-day timescale issued by the courts but the moratorium ended yesterday without any potential buyer coming forward.'

Guilfoyle, who has been involved in the administrations of Leeds United, Luton Town, Crystal Palace and Plymouth Argyle, was brought in by the Bradford board to conduct an independent financial review following the departure of Hood and co-director Andrew Bennett.

Bradford are the third Super League club to enter administration in the last two years.

Wrexham-based Crusaders went into administration in November 2010 after struggling to pay off inherited debt and, although they were readmitted to the league a month later, they were liquidated at the end of the 2011 season.

Wakefield spent a week in the hands of an administrator on the eve of last season – and saw three players sold to pay off debts in that time – before local businessman Andrew Glover completed a successful takeover.

Both clubs started the season on minus four points as their punishment for breaching the RFL's rules on insolvency, a fate that now looks to await Bradford.

Peter Hood hits back at Stephen Coulby over Bradford Bulls debts

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It's not all my fault! Hood hits back at Coulby over Bulls' spiraling debts

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UPDATED:

14:45 GMT, 4 June 2012

Former Bradford chairman Peter Hood has responded to accusations that he left the club in a far worse state than was initially thought.

Hood departed the Bulls in May with the general consensus being that they still needed to raise 500,000 to keep the club in business, having revealed debts of 1million at the end of March.

Problems: Stephen Coulby said the club had to raise 1.25million to secure their future

Problems: Stephen Coulby said the club had to raise 1.25million to secure their future

But new director Stephen Coulby claimed on Saturday that the Bulls still needed 1.25million to make it through to the end of the year, owing in part to Hood and former director Andrew Bennett 'budgeting to lose over 1million this year'.

Coulby added that the Odsal outfit, who host Castleford on Monday evening, are losing 100,000 a month, and that despite a potential investment of 500,000 coming into the club, that extra funds are still required.

Magic: Bradford Bulls took part in the Magic Weekend in Manchester

Magic: Bradford Bulls took part in the Magic Weekend in Manchester

But, in a statement released to the Bradford Telegraph and Argus on Monday, Hood has hit back at Coulby's suggestions, saying: 'On the question of VAT, Coulby is reported as saying that Andrew Bennett and I 'failed to pay a 250,000 VAT bill on the deal which saw them sell the lease on Odsal to the Rugby Football League'.

'What Coulby for some reason chooses not to mention, however, is an arrangement whereby this VAT would be paid at 50,000 per month over the five months commencing May 2012. Not quite the same as failed to pay, I suggest.'

Debt ridden: The club are struggling to stay afloat due to serious debt problems

Debt ridden: The club are struggling to stay afloat due to serious debt problems

Hood also believes that Coulby's claims over the budgeted loss are false, saying: 'There is a cashflow model that shows that, if nothing happened to generate new monies, based on a full salary cap spend and other substantial football costs, then the result would be a loss of over 1million.'

Furthermore, Hood alleges that at the time he was 'forced out' on May 9, that talks were in place with a number of 'well-funded' potential investors, as well as the club having received a written, six-figure offer from Warrington for promising forward John Bateman.

Hood goes on to accuse Coulby of 'being economical with the truth' and says that when he and Bennett left the club, he did not believe there was a shortfall of over 1million.

He added: 'Could it be, perhaps, that he (Coulby) seeks to paint a scenario to justify an imminent plunge into administration, all the while protesting this is the last thing he and his colleagues want'

West Ham face battle to keep Robert Green

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Green hits contract impasse after West Ham baulk at wage demands

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UPDATED:

06:36 GMT, 22 May 2012

Newly-promoted West Ham face a battle to keep goalkeeper Robert Green.

The England No 2 keeper is looking for a 50 per cent pay rise to around 45,000 a week after helping the Hammers back into the Premier League.

Contract talks: Robert Green

Going up: But will Robert Green stay at West Ham

Green is out of contract in the summer but West Ham, who will bank 90million from their return to the top-flight, have warned the 31-year-old they will not be held to ransom.

Rivals QPR and Sunderland are ready to move if Green fails to agree a new deal.

A club source told The Sun said: 'The demands of the players have to be realistic even though there is a feel-good factor after promotion. The board is still battling huge debts.'

Joint owner David Sullivan revealed promotion cost the club 14m in bonuses and pay rises.

West Ham are also interested in signing Sunderland defender Kieran Richardson.

Lee Hendrie admits suicide attempts

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Former Villa midfielder Hendrie reveals suicide attempts over 10m failed property deals

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UPDATED:

11:54 GMT, 13 May 2012

Lee Hendrie has revealed he twice tried to commit suicide after building up debts of 1million.

The former Aston Villa and England midfielder, who earned 24,000 in his heyday, lost a potential 10m in property deals.

And Hendrie has now admitted it all became too much for him.

Happier times: Lee Hendrie enjoyed a successful spell with Aston Villa

Happier times: Lee Hendrie enjoyed a successful spell with Aston Villa

'I seriously wanted to end it all,' the 34-year-old told the Sunday Mirror.

'I had everything. I played for England at Wembley in front of my family, scored goals for Villa in front of 40,000 people. I was playing with [Frank] Lampard, [Steven] Gerrard and Rio [Ferdinand]. I watch them now knowing I could still be in the top flight if it hadn’t all gone wrong.

'I couldn’t get a contract with a club. I had no money left, all the houses were going and everything just came tumbling down,” he said.

'I felt I had failed my family and I wanted out… to end it all.'

International star: Hendrie for England

International star: Hendrie for England

Hendrie will marry his fiance Emma
Cheal, 27, this week. He credits her with saving his life after he took
an overdose of tablets, washed down with wine.

But Emma called the police who managed to trace his car.

'I had texted my mum and sister, told them to look after the kids,' Hendrie adds. 'Emma rang me, I answered the phone. I was all over the place. She said “where are you” I said “don’t worry” and put the phone down Next thing I knew I was waking up in hospital on a drip.”

But that wasn't the end of his troubles. He tried to do the same thing again last July.

'I remember being sat on the edge of the toilet seat and then I stood up and looked at myself in the mirror and thought: “I am a disgrace”', he added.

'That was it, the next thing I knew I woke up in the hospital. I had been on life support because the amount of tablets I had taken had shut my body down to virtually nothing.

'I was told the bathroom door was kicked off. I was in hospital five days. I made a lot of people angry and upset again.'

After that attempt Hendrie began to face up to his problems and has attended regular counselling sessions.

Now playing non-league football and scraping a living wherever he can, Lee admitted: 'It was my wake-up call. I imagined my four children if they didn’t have their dad around.'

Troubled times: Hendrie also played for Bradford as his career came to an end

Troubled times: Hendrie also played for Bradford as his career came to an end

The death of his former Sheffield United team-mate Gary Speed, found hanged at his home, was a shocking reminder of the devastation his actions could have caused to his whole family.

He said: 'I remember the day when he died I just felt sick. I couldn’t believe it. I felt it could have been me. Speedo was top-drawer. I saw what happened to his wife and kids afterwards and thought about how they must be feeling.'

Robin Van Persie"s wife plans London stay

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Hope for Arsenal fans as Van Persie's wife plans lengthy London stay

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UPDATED:

10:35 GMT, 13 May 2012

Robin van Persie will stay at Arsenal beyond this season if the important women in his life have their way.

The Gunners skipper is out of contract next summer and manager Arsene Wenger is keen to tie him down before Euro 2012 kicks off.

And Van Persie's wife Bouchra, along with his mother Jose, are keen to see him remain in London.

Here to stay Robin van Persie is settled in London with wife Bouchra

Here to stay Robin van Persie is settled in London with wife Bouchra

She said: 'We have been in London for eight years now. As a family, we love it here.

'Robin is captain of Arsenal and, as many people claim, the leader of the Arsenal team.

'Arsenal believed in Robin when he was young and when he was considered as a bit of a rebel.

'We don’t want to upset things at home either. Our kids, Shaqueel and Dina, go to school here in London. And they are just as happy as we are.

'We still expect to sit down after this season is over and have a look at the future.

'We have to make some decisions at some point. But it is not just about Robin. He also thinks about us, his children and me.

'I also love it that everyone at Arsenal respects him. At the training ground, at the stadium, his teammates, the fans.

'Everyone comes up to me all the time to tell me how happy they are with him.

'I also see that Robin is really kind to everyone at Arsenal in return. As a skipper should be!

Main man: Van Persie (right) has been in stunning form for Arsenal

Main man: Van Persie (right) has been in stunning form for Arsenal

'A good captain should be concerned about the club, about the team, about everything involving Arsenal. Oh, and in the meantime, I have been promoted to “skip’s wife”.'

Even Van Persie’s mother wants to see him stay at the Emirates.

She said: 'Arsenal is a beautiful club. They have no debts and Robin is being worshipped there.

'I honestly feel that the fans and the people at the club really love him. That is worth so much, too.

'When we go to Arsenal and we walk into the stadium with him, it is electrifying.

'As a mum, that fills me with pride. It is really fantastic. When Robin’s granddad, my dad, was over at the Emirates for his (91st) birthday and we were taking pictures inside, I heard grown-up people behind me say: “We love Robin”. As a mum, I could not wish for a nicer thing.'

Van Persie, speaking to lifestyle Magazine Heroes’ in Holland, admits his mum is right.

Will he stay or will he go Van Persie's contract expires next summer

Will he stay or will he go Van Persie's contract expires next summer

'I have got to know everyone at the club. The kit man, the laundryman, everyone really. I know everyone by name. I love all that.’

Wife Bouchra added: 'When it was his grandad’s birthday, Robin took the entire family to the dressing room.

'His grandad went to sit in Robin’s seat in the dressing room and walked through every room of the home team. He loved it.’

Van Persie added: 'My grandad also wanted to walk on the pitch. But as we all know, the grass is almost sacrosanct and nobody can walk on it after a game. Not even your family.

'But when our groundsman saw grandad standing on the touchline, he said, ‘Robin, YOUR grandad can step onto the pitch’. Well, you see, that’s Arsenal.”

Van Persie says he will let his family choose after his career is over if they want to live in England or head home to Holland.

He ended: 'While I am playing, I realise that it will be mainly me who decides where we live.

'If my kids want to go back to Holland, we will do. But that won’t be for another 10 years, I think.

'My kids speak better English than Dutch at this moment. They attend a real English school, not an international school.'