Blimey there used to be nothing safer than a bank, but they are falling over all over the place and I suspect we will soon see a cold wind blowing in the direction of football, especially with reports of how much football clubs owe, reducing confidence in the sector.
Whilst most Premier League Clubs will have the benefit of the Sky money most of this is tied up in players wages, West Ham have the smell of doom around them with the ruling on Tevez, the demise of XL and now their Chairman's Bank investment going belly up. Curbs could be on a downer here expecting to receive compensation, he could end up with nothing.
Lower league clubs are expected to be the hardest hit as their friendly local bank closes the door pulls too the shutters and rather than extending loan facilities call in debts leaving clubs and players penniless and at the mercy of creditors.
Whilst we are not immune, it maybe the financial management and the tough decisions made over the last two close seasons may well auger well for our immediate fortunes. The desire of some fans me included at times to take a punt and speculate to accumulate could well have left us in a very vulnerable position.
Whether by hook or by crook the decisions of the board may well have prevented us from following a number of clubs who are going to have a very cold winter this year.
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