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Burnley
May 4, 2022 16:25:03 GMT
via mobile
Post by waynesbrain on May 4, 2022 16:25:03 GMT
Burnley would need to pay back "a significant proportion" of a £65m loan at the end of the season if relegated from the Premier League.
BBC sports article.
The full total they've actually borrowed is over 100M. This adequately highlights the false financial position of a lot of clubs in England absolutely desperate to play in the Sky drinking trough which is the EPL. Nothing against Burnley, but it's a small mill town in Lancashire. Can you imagine a Scottish club taking this amount in loans? The disparity in the way clubs are being run between Scotland and England is nothing short of obscene.
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Post by MTS on May 4, 2022 18:12:30 GMT
A pal of mine is a Burnley supporter so I’m hoping they survive but as you say Wayne it’s obscene.
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Post by K19 on May 4, 2022 19:59:32 GMT
It's actually only 60% of their prizemoney as they'll get 100M or so for finishing 3rd bottom (plus another 100M parachute payment over next 3 years) - so only 30% of their total payout. Plus they have 50M cash in the bank. They took a massive gamble borrowing 60M for the takeover but it worked.
I agree the whole EPL funding structure is obscene tho. The bottom team earns more than the Champions League winners and more than 30 times the SPFL Champions prizemoney.
Btw, the play-off final for the EPL is the most valuable one-off game in the world, worth a minimum 200M for the winners.
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