yes, secured creditors first then employees wages

not a complete boffin on football finances, but I would presume that transfer fees for players would be treated like secured creditors where a company buys a machine but pays over a period of time. The company can secure the debt against the machine. I presume a football club would secure the debt of a transfer fee against a player.

I could be wrong though, I dont deal with football clubs, just my thoughts.

Posted By: Tony Martin on May 25th 2012 at 12:20:58

Message Thread

HMRC lose their case against the Football Creditors' Rule (Other Football) - yarmyyarmy, May 25, 11:48:20
- I have thought Crouchy could enhance his image by making a big donation to St Johns (Other Football) - KentonCanary, May 25, 12:16:51
- it is crazy given how much money footballers earn, but staff in any business (Other Football) - Tony Martin, May 25, 12:07:59
  - Isn't it not all about wages though (Other Football) - KentonCanary, May 25, 12:15:19
    - yes, secured creditors first then employees wages (Other Football) - Tony Martin, May 25, 12:20:58
      - Ahem, administrators get paid first (Other Football) - yarmyyarmy, May 25, 12:34:10
    - Yes - that's right (n/m) (Other Football) - SimonOTBC, May 25, 12:19:02
- Link here (Other Football) - yarmyyarmy, May 25, 11:52:33
- Staggering really. How can the rules of a competition outweigh insolvency law! (n/m) (Other Football) - Jim, May 25, 11:51:43
  - It's disgusting (Other Football) - yarmyyarmy, May 25, 11:55:27

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