The Welsh club, with debts of £2.5m, went into administration on Friday, and will now be docked 10 league points under new Football League rules.

That will put Wrexham into relegation trouble.

Does it serve them right for not handling their finances properly?

The fans will suffer as if they go down they will lose further revenue.

I am aghast, and verry sorry to hear about Wrexham folding, when they owe just £2.5 million.

How come clubs like Fester (leicester) and "mucky" l**ds haven't gone to the wall, in the same way, when they were owing many, many times what Wrexham owed?

I mean for crying out loud, the Owls came close to going to the wall, owing, what was it? 20-odd million? They survived.

With regard to leicester, my family have particular issues with the club, because a nephew of ours was one of the many contractors whose firms went to the wall because leicester didn't/wouldn't payout for the work done on the new stadium, a couple of years ago.

In fact, in our house, leicester is almost a swear word.

We thought it was iniquitous that leicester were allowed to continue, without any censure from the FA etc. it was outrageous that they could go virtually "bankrupt" and yet still carry on. a firm, or a factory that did that would have been made to stop trading, and/or prosecuted.

I know a lot of the smaller teams, such as boston united were close to going under, becasue they were (like wednesday) banking on the pay-off from Ondigital/Itv digital (whatever it was called) over the football screening rights.

There were so many teams who almost went under because the expected money never materialised.

My team, the Blades, escaped by the skin of our teeth, over the itv dig' fiasco. Our management/ Warnock had been extremely canny and not splashed out on new players, or new facilities, spending money that had not yet been received. We are very thankful for that, because we could have been in the deepest of dire straits otherwise.

PT

Originally posted by Plain Talker
I am aghast, and verry sorry to hear about Wrexham folding, when they owe just £2.5 million.

How come clubs like Fester (leicester) and "mucky" l**ds haven't gone to the wall, in the same way, when they were owing many, many times what Wrexham owed?


I know a lot of the smaller teams, such as boston united were close to going under, becasue they were (like wednesday) banking on the pay-off from Ondigital/Itv digital (whatever it was called) over the football screening rights.

PT

The difference between wrexham and leeds/leicester is that the latter still have saleable assests, and also are still getting large amounts (around 10 mill) for the next 2 seasons from the premier league, called "parachute" payments!!
you also have to remember, these 2 teams still got millions of revenue per year, through tickets/merchandise, but wrexham are only a smal club

wednesday didnt nearly collapse due to on digital, as they was not even contemplating having to recieve these amounts really, they was still getting there parachute payments from prem league, so the million they would (not sure if they would have got it) probably have got from on digital would be of minimum effect, as it was there cripplling wages/loan that was making them go further downhill!!

Originally posted by Lickszz
The Welsh club, with debts of £2.5m, went into administration on Friday, and will now be docked 10 league points under new Football League rules.

That will put Wrexham into relegation trouble.

Does it serve them right for not handling their finances properly?

The fans will suffer as if they go down they will lose further revenue.

yes it does, Leicester went up at our expense becasue thy went into administration and therefore could keep hold of most of teir players.

10 posts is a fair punishment

Its not fair that clubs who look after their finances well had to compete equally with those who didn't

Rumours are that Alex fergusons son is planning to buy Wrexham out and manage them himself.

Originally posted by robbie
yes it does, Leicester went up at our expense becasue thy went into administration and therefore could keep hold of most of teir players.

10 posts is a fair punishment

Its not fair that clubs who look after their finances well had to compete equally with those who didn't

I agree. I believe these rules have been brought in following Leicester and Leeds cheating the system.

The powers that be want clubs to operate within their income streams and if they go bust, there is a big argument to say they shouldn't have been where they are in the first place. If you have Conference finances then borrowing money you can't pay back is no longer an option.

I suppose one altenative solution would be for administrators to come into a club as soon as it is apparent that they are heading down this road and have no prospect of recovery, and sell of players until the books are balanced, although I suspect that would end up being far less palatable for fans than a 10 point penalty as it wouldn't be the dead wood that were sold off.

Is ITV digital partly to blame? The collapse of promised money that many clubs will have used to budget ahead with. As a result many clubs will have probably been stuffed and still are.

Perhaps the only way out is to ensure the money is given back down to reach the grass roots ans send the big boys off packing to their own league.

I'm not certain of the facts but I think Wrexham was bought by a property speculator with designs on building on the pitch much as at York
These people take over a club and create 2 companies.
A company which includes all the property (usually of considerable value)
And another comprising the rest of the club ie. its debts, team expenses etc etc (usually deeply in debt)
Something should be done by Government, the FA and football League to stop this happening over and over

being a true wrexham lad and supporter it is good to hear such positive support from fans of other clubs. Property investor alex Hamilton bought out former chairman Mark Gutterman, with his plans only to build housing on the racecourse ground. When approached by Mr Gutterman about re-buying the club back, Hamilton refused - leaving the club no option but to enter administration. Playing for Wrexham until 18 it is bad to see friends which you have grown up with having to struggle for a living when the whole point of themselves putting their all into a life as a proffessional footballer was to be able to have a comfortable career must make them think 'was it worth it'.

Not sure about Fergie's son rumour, I take it he means Jason - the agent. His other son Darren plays in midfield for wrexham and Fergie has close ties with the club. If Utd go ot of the Fa cup early, Fergie always sends a strong team to the Racecourse for a friendly - guaranteed sell-out and a good pay day for the club. Let's hope these things continue.

For a club that has never reached the top echelons of English football, Wrexham seem to have the respect of lots of football fans. Their FA cup victory over Arsenal will live long in the memory. (let me tell you how much the club has improved since those dark days also!)

People of North Wales live in hope - lets show some support for one of Britains oldest clubs. AND YES - LET'S SHOW OUR HATE FOR SUPPOSED BIG BOYS LEICESTER AND LEEDS. They can dream-but they belong in division 1.

Hi jswr, never having been to the Racecourse ground (one of the few I have missed) I don't know if it is well placed for development, but let's hope that the local councillors are kept up to speed on any planning applications that Hamilton puts in.

They should also be reminded that their support will be remembered when it comes to them wanting re-electing.

Good luck on keeping the club afloat, all true football supporters are backing you.

There you go- a nice picture of the ground for you. And it's at the top of the high street so Mr Hamilton has his eyes set on a ghastly West-One esque one bedroomed flat £800 a month number I reckon!

http://images.google.co.uk/imgres?imgurl=http://www.sportsframe.co.uk/images/iteme262.jpg&imgrefurl=http://www.sportsframe.co.uk/item.asp%3Fitemid%3D262&h=212&w=300&sz=35&tbnid=rFZIPYBJuPkJ:&tbnh=78&tbnw=110&start=19&prev=/images%3Fq%3Dracecourse%2Bground%26hl%3Den%26lr%3D %26sa%3DG

Originally posted by jswr

For a club that has never reached the top echelons of English football, Wrexham seem to have the respect of lots of football fans. Their FA cup victory over Arsenal will live long in the memory. (let me tell you how much the club has improved since those dark days also!)



To be fair tho' you should never have played Arsenal, as the mighty Blyth Spartans should have beat you, and would have done, if it wasnt for that re-taken corner after the flag fell down. Gah.

Seriously tho', this guy has done it at other clubs, and was interested in Blyth Spartans as well. Its the cheapest way for him to get hold of prime land in the centre of towns and use it for his own purpose. It's not on.

Local councils should designate all football grounds as greenfield sites and block developments like this.
It's about time the FA intervened in this area.....it should be duty bound to protect football clubs at lower levels.
Do you still play yourself jswr?

haven't played this season as i've been busy working to try and keep the finances afloat!! looking to get back in the swing next year though and find a decent team in the area!

Laterst has Ridsdale taking over at Wrexham - god help them :)