Date:Thursday April 16 2009
With all the talk of the Europa League at the moment, there is an interesting piece of news seeping through regarding our finances, and what appears to be a poor bit of handling from our very own chairman Mohammed Al Fayed.
As the business year turned to a close a couple of weeks back, Fulham had to publish their profit/loss from that year. Like a majority of clubs, we made a loss. However, it seems it could have been easily avoided, had Mr Al Fayed taken care of his cash.
With the huge influx of money entering Premier League football, mainly due to TV rights, you would have thought clubs would be rolling in it, but it seems that is simply not the case, and because of that, we may be a club on the brink of new ownership.
It appears that Al Fayed has failed to spend his millions wisely this time around, as once the money comes into Fulham, it seems to creep its way back out again, whether that's into players pockets, or other clubs.
Vinay Bedi, a director at Brewin Dolphin Investment Banking, had this to say.
'The club has had a huge increase in revenue, almost entirely from television, but a big chunk of that money has been handed back to the players.
'We were hoping that football clubs like Fulham would use commercial common sense and retain some of those extra earnings to improve their financial position but that hasn't happened.'
All this appears to have added up to a possible departure for Mr Al Fayed, who has seen the club lose money year on year.
Bedi continued, 'But there are a number of clubs on the market right now, and not many buyers around, and Fulham really needs a new ground.'
So is Mo on the brink of departure, and would we really want one of the Abramovich's of the world? And would Europa League football perhaps bring in some much needed cash for us? Opinions please...
Date:Thursday April 16 2009
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