Wasps rescued again (1 Viewer)

Deleted member 2477 · Nov 19, 2020

The government have anounced that millions in financial support is to be made available for sport as a rescue package due to covid.
rugby is apparently going to be the biggest benefactor along with horse racing, tennis and womens football but guess what.

no money for the EFL or league football
Disgraceful

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slowpoke · Nov 19, 2020

marcusp said:
The government have anounced that millions in financial support is to be made available for sport as a rescue package due to covid.
rugby is apparently going to be the biggest benefactor along with horse racing, tennis and womens football but guess what.

no money for the EFL or league football
Disgraceful

Redirect Notice

I don’t waste my time on any thing related to them little bastards

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chiefdave · Nov 19, 2020

Its a disgrace but doesn't even come as a surprise anymore. Wasps will get two handouts as well as netball is on the list.

How can you on the one hand give out millions to a supposed top level elite sport that talks about rivalling the Premier League, including the self proclaimed richest club in Europe, yet on the other hand tell EFL clubs on the brink of going out of existence they can't have a penny?

Pretty clear how the list has been drawn up given that the press reports mention rugby and horse racing are seen as priorities.

This is obviously where the 'fans back in grounds in December' has come from. EFL clubs have said they can't survive without crowds and need money to offset that so rather than a bailout like rugby there's a vague promise of fans being allowed in imminently which I think we all know isn't going to happen.

Magwitch · Nov 19, 2020

Won’t be that much though per club, £300 million between what I think is ten sports including football below the EFL sounds a lot but won’t equate to that much per club or sport.
As for Premier and EFL there is money there most in the Prem and I think if they don’t come up with reasonable plan and package Government will.
A big problem is a lot of Premiership clubs are owned by multi billionaires a lot foreign who pocket a lot of any profits which goes out the country.
There are still clubs especially in the championship paying thousands per week to players yet up to their eye balls in debt, there is talk of the Government going for a super tax type system going to be interesting.

SBT · Nov 19, 2020

chiefdave said:
Pretty clear how the list has been drawn up given that the press reports mention rugby and horse racing are seen as priorities.

Ones with a lot of Irish people?

Cricket's been left off, so I don't think it's as simple as 'Posho Tories at it again'

kg82 · Nov 19, 2020

SBT said:
Ones with a lot of Irish people?

Cricket's been left off, so I don't think it's as simple as 'Posho Tories at it again'

Would it be affecting cricket that much at the moment being off-season?

rob9872 · Nov 19, 2020

Football clubs pay £2.3bn to HMRC in taxes. Surely they realise that if they keep the vehicle oiled by encouraging the bail out, it will be repaid ten-fold.

i appreciate lots of that comes from the EPL, but if just 10% of it is from the EFL, then the bailout would be recovered within 12 months. That's a neutral position on the financial aspect without even considering the effect on a community or the mental health of fans etc and therefore burden on the NHS and society - football is such an important part of so many people's lives.

The only answer seems to be that the elite level is awash with money so let them sort it out, but as privately owned ventures who contribute massively to the economy already, why should they?

chiefdave · Nov 19, 2020

rob9872 said:
The only answer seems to be that the elite level is awash with money so let them sort it out, but as privately owned ventures who contribute massively to the economy already, why should they?

Can we then presume the government will use the same logic elsewhere and tell Amazon to dish out money to small independent retailers who are struggling? Or would that suggestion be laughed at and labelled ridiculous?

Magwitch · Nov 19, 2020

I’m a football fan and a ccfc fan and I agree football contributes a lot of money to the exchequer, lots more than any other sport unless we include the gambling side of horse racing but the problem as I see it is that especially below the premier league clubs have built up huge debts and continue to add to that. Being biased I would like to see a bail out some of money from the Government, but take my brother-in-law as an example who like many have no interest in at all football or ccfc try convincing him an industry paying millions a year in wages but up to the necks in debt need financial state aid when a shop or small business is going bust putting two or three people on the dole. Football can and should help itself just 5% of the TV money earned by prem clubs would be ample to help those below get through this crisis.

rob9872 · Nov 19, 2020

Magwitch said:
I’m a football fan and a ccfc fan and I agree football contributes a lot of money to the exchequer, lots more than any other sport unless we include the gambling side of horse racing but the problem as I see it is that especially below the premier league clubs have built up huge debts and continue to add to that. Being biased I would like to see a bail out some of money from the Government, but take my brother-in-law as an example who like many have no interest in at all football or ccfc try convincing him an industry paying millions a year in wages but up to the necks in debt need financial state aid when a shop or small business is going bust putting two or three people on the dole. Football can and should help itself just 5% of the TV money earned by prem clubs would be ample to help those below get through this crisis.

Couldn't disagree more. Have you seen my post above? It's the only sport that would repay the bail out and quite quickly. Why should the EPL pay for it when they already pay the EFL lots and pay a fortune to the economy in taxes - far more than any hand out requested.

hill83 · Nov 19, 2020

As much as Wasps can fuck off this is a good thing and I don’t even like rugby.

EFL next please if the big clubs won’t help.

shmmeee · Nov 19, 2020

chiefdave said:
Its a disgrace but doesn't even come as a surprise anymore. Wasps will get two handouts as well as netball is on the list.

How can you on the one hand give out millions to a supposed top level elite sport that talks about rivalling the Premier League, including the self proclaimed richest club in Europe, yet on the other hand tell EFL clubs on the brink of going out of existence they can't have a penny?

Pretty clear how the list has been drawn up given that the press reports mention rugby and horse racing are seen as priorities.

This is obviously where the 'fans back in grounds in December' has come from. EFL clubs have said they can't survive without crowds and need money to offset that so rather than a bailout like rugby there's a vague promise of fans being allowed in imminently which I think we all know isn't going to happen.

Not to say I told you so, but I have been saying that this government wouldn’t let major rugby clubs go to the wall when people have been fantasising about some state aid remedy bankrupting them.

Their position seems to be “men’s football is popular so the rich can give charity to the poor, everything else is unpopular so we’ll help”

shmmeee · Nov 19, 2020

rob9872 said:
Couldn't disagree more. Have you seen my post above? It's the only sport that would repay the bail out and quite quickly. Why should the EPL pay for it when they already pay the EFL lots and pay a fortune to the economy in taxes - far more than any hand out requested.

“Pay a fortune to the economy in taxes”

Firstly, taxes take money out of the economy, secondly you pay a lot because you earn a lot. And the EPL is what it is because of the ecosystem it comes from. You think we have the strongest top division by chance and it’s just a coincidence we also have the strongest pyramid overall? I don’t.

Frostie · Nov 19, 2020

Magwitch said:
Won’t be that much though per club, £300 million between what I think is ten sports including football below the EFL sounds a lot but won’t equate to that much per club or sport.

£59m to Premiership rugby clubs, that's just shy of £5m each. I'd call that fairly substantial.

tisza · Nov 19, 2020

Frostie said:
£59m to Premiership rugby clubs, that's just shy of £5m each. I'd call that fairly substantial.

isn't that basically the annual wage bill after there was the salary "haircut"?

CCFC88 · Nov 19, 2020

Their business model is still far from fixed, all these handouts are just allowing them to kick the can down the road

jordan210 · Nov 19, 2020

jordan210 · Nov 19, 2020

Rugby Union: £135 million

Rugby Football Union: £44 million
Premiership Rugby clubs: £59 million
Championship Rugby clubs: £9 million
Rugby clubs below Championship: £23 million

chiefdave · Nov 19, 2020

Magwitch said:
I’m a football fan and a ccfc fan and I agree football contributes a lot of money to the exchequer, lots more than any other sport unless we include the gambling side of horse racing but the problem as I see it is that especially below the premier league clubs have built up huge debts and continue to add to that. Being biased I would like to see a bail out some of money from the Government, but take my brother-in-law as an example who like many have no interest in at all football or ccfc try convincing him an industry paying millions a year in wages but up to the necks in debt need financial state aid when a shop or small business is going bust putting two or three people on the dole. Football can and should help itself just 5% of the TV money earned by prem clubs would be ample to help those below get through this crisis.

Everything you've said there applies just as much to Premiership Rugby as it does the EFL. Wasps have tens of millions in debt yet are still paying out for top level players.

What happened to the CVC money? Millions in additional funding it was claimed was ringfenced so as not to just be paid out in player salaries. That seems like the perfect fund to access now.

peaches and cream · Nov 19, 2020

CCFC88 said:
Their business model is still far from fixed, all these handouts are just allowing them to kick the can down the road

you are totally correct but it will help with immediate cash flow.

Brighton Sky Blue · Nov 19, 2020

peaches and cream said:
you are totally correct but it will help with immediate cash flow.

Must be nice having everyone bending over backwards to support a failing business with millions in handouts and grants.

chiefdave · Nov 19, 2020

The one upside of this is its in the form of loans. Although would anybody be surprised if they were quietly written off a few years down the loan. Some of the sports on there, such as ice hockey, struggle to break even at the best of times let alone repay loans.

This annoys me, "the most generous of any Government for its domestic sport sector in the world". Why does everything have to be world beating, why not just do what is needed.

Is the £11m for the National League in addtional to the previous £10m the government persuaded the National Lottery to cover or as well as?

£40m seems a lot for horse racing. Its still running isn't it and therefore getting money from betting which I would assume makes up a big chunk of reveunes.

Magwitch · Nov 19, 2020

jordan210 said:
Rugby Union: £135 million

Rugby Football Union: £44 million

Premiership Rugby clubs: £59 million

Championship Rugby clubs: £9 million

Rugby clubs below Championship: £23 million

Where do you get those figures from ?

Liquid Gold · Nov 19, 2020

Just pushes the inevitable slightly down the road re Wasps.

TBH I can't believe the government haven't put in anything there forcing organisations to prove they would be a going concern without the COVID crisis.

Liquid Gold · Nov 19, 2020

Magwitch said:
Where do you get those figures from ?

If you engaged your brain instead of letting it rattle inside that thick skull you'd click on the link provided and find out.

Magwitch · Nov 19, 2020

Do you want a fight

steve cooper · Nov 19, 2020

It's nearly all loans though, and will have to be paid back at some point

Hadji's_Goatee · Nov 19, 2020

jordan210 said:
Rugby Union: £135 million

Rugby Football Union: £44 million

Premiership Rugby clubs: £59 million

Championship Rugby clubs: £9 million

Rugby clubs below Championship: £23 million

SOB's!! So Wasps will get almost £5m of taxpayers money!!! I doubt any stimulus for Footy wouldn't equate to that for us!!!

Liquid Gold · Nov 19, 2020

Magwitch said:
Do you want a fight

Id fancy my chances of you knocking yourself out while trying to put boxing gloves on the wrong hands tbf.

rob9872 · Nov 19, 2020

shmmeee said:
“Pay a fortune to the economy in taxes”

Firstly, taxes take money out of the economy, secondly you pay a lot because you earn a lot. And the EPL is what it is because of the ecosystem it comes from. You think we have the strongest top division by chance and it’s just a coincidence we also have the strongest pyramid overall? I don’t.

Taxation pays for all of the services that would otherwise need to be privatised. Since most owners are foreign and most sponsorship money is from overseas that pay their wages, then that shortfall would need to be recovered. It boosts the economy since it also covers public sector wages who then spend that 'foreign' money in the UK. The point is they already pay their share into our pot and do so fairly, not like Amazon or Starbucks or similar and I see no reason they should prop up the mismanagement of overspending Derby or Cardiff or whoever, but equally their position has been adversely affected by the current situation. Clubs could go to the wall and I think the govt has a responsibility to communities to keep that going (bloody hell sounds like me a leftie and you a tory on this!). They will get the money back in time from income tax so for goodwill factor then they should imo prop up the EFL (providing its fair and all participants receive equal amounts and not means tested).

fatso · Nov 19, 2020

Hadji's_Goatee said:
SOB's!! So Wasps will get almost £5m of taxpayers money!!! I doubt any stimulus for Footy wouldn't equate to that for us!!!

£5 million is what Marcus Rashford “earns” in 6 months.
Football need to get its own house in order.

chiefdave · Nov 19, 2020

fatso said:
£5 million is what Marcus Rashford “earns” in 6 months.
Football need to get its own house in order.

Nobody is suggesting the Premier League be handed millions.

fatso · Nov 19, 2020

marcusp said:
The government have anounced that millions in financial support is to be made available for sport as a rescue package due to covid.
rugby is apparently going to be the biggest benefactor along with horse racing, tennis and womens football but guess what.

no money for the EFL or league football
Disgraceful

Redirect Notice

Why is it disgraceful?
There are premier league players on over £350k a week. Do you REALLY expect the government to give tax payers money to the football league, when they have been so negligent with the games financial distribution.
The premier league is pissed up with money, while the grass roots is struggling to survive, that’s not a fault of the Government or the pandemic, it’s due to gross incompetence from the games authorities.

fernandopartridge · Nov 19, 2020

Magwitch said:
I’m a football fan and a ccfc fan and I agree football contributes a lot of money to the exchequer, lots more than any other sport unless we include the gambling side of horse racing but the problem as I see it is that especially below the premier league clubs have built up huge debts and continue to add to that. Being biased I would like to see a bail out some of money from the Government, but take my brother-in-law as an example who like many have no interest in at all football or ccfc try convincing him an industry paying millions a year in wages but up to the necks in debt need financial state aid when a shop or small business is going bust putting two or three people on the dole. Football can and should help itself just 5% of the TV money earned by prem clubs would be ample to help those below get through this crisis.

The gambling market in football is no doubt just as big

peaches and cream · Nov 19, 2020

Brighton Sky Blue said:
Must be nice having everyone bending over backwards to support a failing business with millions in handouts and grants.

it is what it is

Wasps rescued again (1 Viewer)

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