Kick the Abbey Habit Barcelona the Pompey of Spain
Pompey?
By Boris Mellor
July 17 2010
It is interesting that Sandra Rosell (yes I know Barca fans, don't bother complaining) has suddenly admitted that it is unlikely that Fabregas will be arriving at the Camp Nou this year, just at the same time as Barcelona have finalised a 125 million pounds loan. Not that the loan will fully cover the 329 million pounds short term liabilities they carry.
Hopefully the loan will cover the up to £3.3 million the club owe Arsenal on Hleb, but I wouldn't bank on it. The last club I remember owing money on players was Portsmouth, and we all know what happened to them. Fancy that, the mighty Catalans could be the Pompey of Spain.
Time to kick the Abbey Habit and Financial Doping
The loan has been organised by a group of banks led by La Caixa and Banco Santander. Santander is the Spanish bank that took over Abbey National, and I suspect quite a few Arsenal fans have money invested, or deposited, in the Abbey. Perhaps it's time to kick the Abbey habit, withdraw your money and let them know why.
According to the Eurosport website Barcelona needed the money "to pay important commitments such as the salaries of players, coaching staff and employees." No mention of funding transfer fees. Once it was discovered that Pompey could not fund their daily running costs they were banned from the transfer market.
Barcelona clearly haven't got a pot to urinate in, and their protestations that they will not be forced to pay a high fee for Fabregas has nothing to do with the moral high ground, but everything to do with the fact they are cash strapped. It is possible that the banks have told them there is a limit to what can be spent on transfers.
Isn't UEFA meant to be stopping this kind of financial doping? It's one thing to take out a mortgage to buy a stadium, another to lend money to dabble in the transfer market.
Arsenal fans who think the club should sell Fab might have a point, but there would be no point in selling him to Barca, unless you don't mind the fact the club might never see the money.
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Edited 1 time(s). Last edit at 2010:07:20:13:55:57 by Padre Pio.
if not that i bet that the spanish government will move mountains that see barca go down, i wish they go down so that people can learn to do things the right & moral way.
Can We Now Trust The Process 🤔🤷🏿♀️ or Should We Still Remain Cautious 🙇🏿♀️
WHen was the last tiem that Britian ran into "liquidity" problem liek Barca and ran cap in hand to IMF?
When was the last tiem that BArclay Bank and other British banks ran to British Govenrment for cash laons due to "liquidity" problem like Barca experiencing now?
Perish that thought!
Barca will neve fail like British banks or AIG or BP 'cos:
- "Barca is too big to fail";
- "Barca is an institution in Spain, especially fiercely independent Catalonia"
- "A SPanish bilionaire cna always be found to bailout BArca likw what Abramovich did at Chelski"
Effectively, Barca operating just like USA - hugh deficit, hugh debts but too big to fail.
Barca can afford to pile up debt liek USA can continue to print more greenbacks.
Should clubs be allowed to use loans to buy players? Thats the issue.
Barca have taken out a loan to cover daily running expenses, how are they different to Pompey? Yes they are bigger thats the only difference
"When we had to suffer the team is a lion because they suffer together." 4 July 2020 at Wolverhampton Wanderers
Arteta on his team's first away victory at a club above them in the Premiership since September 2015 at Leicester.
Quote:Padre Pio
They thought Lehmann Bros was too big to fall, but fall it did.
Should clubs be allowed to use loans to buy players? Thats the issue.
Barca have taken out a loan to cover daily running expenses, how are they different to Pompey? Yes they are bigger thats the only difference
Padre, for every Lehmann Bros, there is a "AIG">
And it is precisely that wrong decision not to save Lehmann Bros that triggered the GLobal Credit Crunch and brought down the House of Cards in a hard landing.
Saving AIG is to allow a "soft landing"
Is Iceland "too big to fail"?
SImilarly, is Greece "too big to fail"?
The political dynamism between SPanish Government and the Catanola wil ensure SPanish banking giants like Satander will step in to rescue Barca as Real and Barca are "too big to fail".
There are an icon of "SPanish superiority", both institutions and too big to fail.
Real and BArca are beyond a normal football club and had becoem a way of life for SPain.
No SPaniards wil allow Real or Barca to fail as by hook or by crook, a "white knight" wil rescue them and assume the debt burdens.
"When we had to suffer the team is a lion because they suffer together." 4 July 2020 at Wolverhampton Wanderers
Arteta on his team's first away victory at a club above them in the Premiership since September 2015 at Leicester.
Lots of history in the resentments that exist nowadays.
"When we had to suffer the team is a lion because they suffer together." 4 July 2020 at Wolverhampton Wanderers
Arteta on his team's first away victory at a club above them in the Premiership since September 2015 at Leicester.
