11/21/24
May 28, 2003
We are First Division runner-ups and we will be relegated.: Monaco has been relegated to the French Second Division because of debts totalling 40-57 million pounds (and impending bankruptcy). Is this a first? Has a team been punished in this way not for their field performance, but their financial performance? Does this mark a new trend in pro sports? This is probably going to happen in the UK soon, no? Isn't Leicester, English Division 1 runners-up and new promotees to the EPL, in bankruptcy? What alternatives are there?
posted by worldcup2002 to soccer at 03:21 PM - 12 comments
And the same could be happening to any club which has been managed by John Gregory in the recent past. Which would be a shame.
posted by Fat Buddha at 06:50 PM on May 28, 2003
Pretty retarded really. "Oh, you're bankrupt? Well let's make things even harder for you."
posted by Drood at 07:28 PM on May 28, 2003
Fiorentina got sent from the Serie A to the THIRD DIVISION for bankruptcy!
posted by StarFucker at 07:35 PM on May 28, 2003
So, it isn't new. I don't know, is it better to just shut them down (don't they do that in the MLB? Weren't they trying to shut down the Twins?) or let them languish? Drood makes a good point, and I can't see how relegating a team brings any benefits to anyone. Somebody care to enlighten me?
posted by worldcup2002 at 10:36 PM on May 28, 2003
Seems fair enough, as a punishment for not getting your financial house in order. By definition, you can't fine these clubs, so what else are you to do? All the clubs know the rules. Perhaps Monaco would be in better financial shape if they hadn't spent so much on salaries. It's madness for a club like Monaco to budget on making the Champions League. That money should be spent once you have reached the Champions League, not the other way round! Fiorentina were not relegated because of bankruptcy. Fiorentina stopped existing because of bankruptcy. A new club, Florentia Viola was set up by supporters of the old Fiorentina, but it had to start at the bottom of the ladder, in Serie C2. At the end of the season, the owners of Florentia Viola bought the Fiorentina name and renamed the club. I believe Germany also has a rule about the financial solvency of it's professional clubs. There were a lot of rumblings about Leicester City last season. By going into receivership they were able to avoid paying many of their debts, and thus did not have to sell all of their star players. Other clubs claimed, with some justification, that Leicester gained an unfair sporting advantage because of this.
posted by salmacis at 07:21 AM on May 29, 2003
Other clubs claimed, with some justification, that Leicester gained an unfair sporting advantage because of this. I think the other clubs are right to feel this way... Except, i didn't know Leicester HAD any star players!
posted by StarFucker at 08:39 AM on May 29, 2003
I suppose if clubs are not allowed to be promoted if they do not meet minimum standards, it makes sense that they should not be allowed to continue if they subsequently fail to meet them. Anway, Monaco has become a giant cherry tree, ripe for the picking, I wonder if Blues will be snapping anyone up.
posted by Fat Buddha at 04:01 PM on May 29, 2003
Oldest club in the world could fade from existence tomorrow. That would be a crying shame. I'm claiming locallinktasticness
posted by squealy at 06:06 PM on May 29, 2003
StarFucker: Matt Elliot, Muzzy Izzet, Ian Walker etc. Maybe not what you would call star players, but all could have been sold for a fee.
posted by salmacis at 06:46 PM on May 29, 2003
squealy: I clicked your link thinking Sheffield FC were under threat. I think you mean "oldest league club". To be honest, I don't think too many tears would be shed about the passing of Notts County. Nottingham is clearly not big enough to support two professional teams. Either they merge, one goes out of business, or one accepts semi-professional status.
posted by salmacis at 06:49 PM on May 29, 2003
SF: i didn't know Leicester HAD any star players! They had some guy called Heskey, but sold him to Liverpool for 11mil pounds. Wonder where that money went. They really made out like bandits. Fuckers.
posted by worldcup2002 at 07:53 PM on May 29, 2003
Though it ain't quite the same Marseille were relegated for financial "irregularities" when they actually won the league title in France. Swindon won promotion to the old First Division in England through the playoffs, but were relegated for the same offence.