Report of a club (suspect Colchester) to enter administration and face a points deduction which could spare Southend or Grimsby from the doom of relegation. Another club on the brink, very sad to see.
There was a Internet exchange a few weeks ago from the "price of footbal" where it was stated that Colchester had lost around £1.8 million in 2019/20 taking total losses to £31 million.
Colchester spend a fortune on their academy set up. Take that out of the equation and the are probably running at the same sort of loss as us...which is a scarey thought.
There was a Internet exchange a few weeks ago from the "price of footbal" where it was stated that Colchester had lost around £1.8 million in 2019/20 taking total losses to £31 million.
Colchester spend a fortune on their academy set up. Take that out of the equation and the are probably running at the same sort of loss as us...which is a scarey thought.
Jim Baker
Indeed, we are lucky Ziya continues to support us. (Also shows why we upgraded our scouting instead of building an academy)
These reports are unconfirmed. Last week I heard that the club in difficulties was Oldham Athletic. After all the problems clubs have had this season, I expect that it will be next season when the effects of low incomes streams will be felt. Clubs who over invest to win promotion then fail at maybe play off positions could be the ones at most risk.But hey, I am no accountant.
Robbie Cowling the Colchester owner has just issued a statement squashing these rumours. As the debt is owned to him he will not go into administration.
