To sort of change gears, I was reading a story from the other side of the pond recently that League 1’s Bury Football Club was over 1 million pounds in debt (That is $1,534,198) and was looking for external investment. I had known for many seasons and going into this season that Bury continued to struggle financially at Gigg Lane, but it just blows my mind how something like this could happen.
How does someone allow the situation to get that far out of control? How does someone not stop the club and make them pay up? How does someone in League 1 get that much credit? I’m thinking this is part of the “results now” society and when it does not turn out the way you planned it, someone is left in the wind.
I was under the impression that the recent UEFA FFP regulations that these types of situations would be reduced and clubs could not run up huge losses, but this shows that teams will do what they can to succeed, but in Bury’s case, your club just might cease to exist.