Wednesday, August 20, 2008

More Manchester City Mess

Look, I am not a City fan and when push comes to shove on the pitch, I would rather see them lose than win. However, having said that, I am worried that this club's mounting troubles could give a black eye to the Premiership.

First their owner Thaskin Sinawatra is a fugitive of the law for skipping bail in Thailand. His assets are frozen and the FA will quite possibly have to declare him not "fit and proper" owner and ask him to step down as the owner. The FA could take over the club until new owners step up. But this kind of news is not going to help them any:
Ukranian club Shaktar Donetsk have reported Manchester City to FIFA over the 475,ooo Pound still owed to them over the transfer last summer of Brazilian Elano.

A spokesman for FIFA said: ‘We can confirm Donetsk have lodged a claim with FIFA regarding this matter. As the relevant procedure will start in due course, we can’t provide further comments for the time being.’

Reports out of the Ukraine are suggesting City still owe 3.1 for this summer’s payment, but that check is in the mail.
That is a total 3.5 million pounds or so that City owe for a transfer.

Additionally, City have taken a loan out for 30 million pounds against their future television revenue. How risky is that? If City get relegated, they lose future television money fast. Although they are in the UEFA Cup qualifying, their 1-0 lose to Danish side Midtjylland puts them at extreme risk from not going further and losing that revenue stream.

In wonder if Mark Hughes wakes up in the middle of the night and wonders what he has done to deserve all of this?

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