Valencia close to bankruptcy?

[AFII]

MADRID (AFP) - Spanish first division club Valencia is on the verge of bankruptcy, a Spanish sports newspaper said Tuesday.

The club must pay 50 million euros before December 31, and only a loan from the Bancaja bank can save it, Marca said on its Internet site.

The club was not immediately available for comment on the report.

Marca said that tense negotiations are underway between the bank and the club, Spanish champions in 2002 and 2004 and currently in third place in the Primera Liga.

Valencia, whose team includes Euro 2008 stars David Villa and David Silva, is building an ultra-modern 73,000-capacity new stadium which is to be finished for the 2009-2010 season.

http://www.soccerway.com/news/2008/D...uptcy---report

[Mike]

Does this mean Villa and Silva could be getting sold in January?

[AFII]

Bankruptcy probably means that every player would be available on a free transfer. The club wouldn't exist anymore.

[Joe King]

Quick, lets get Mata and Villa.

[dww]

Surely any bank would look to sell the players to get back as much of the money they are owed as possible? There is zero chance all players will go on frees.

[Fivex]

Bankruptcy probably means that every player would be available on a free transfer.

How the **** do you figure that out

[AFII]

Surely any bank would look to sell the players to get back as much of the money they are owed as possible? There is zero chance all players will go on frees.

Probably. They also have the new stadium to think about. I don't know who they own money. The article don't say anything about that.

[AFII]

How the **** do you figure that out

Bankruptcy means that the club don't exist anymore. The players can't play for a club that don't exist can they?

[Shanks]

How the **** do you figure that out

Isn't it the same as the baillifs coming into your home and looking at what you have of value.

i.e he's worth 30mill, so sell him and we can pay off what you owe.

Or would he be available on the cheap al la auction style?

[Joe King]

How the **** do you figure that out

AFSE - AF School of Economics.

When you need assets selling, they sell at no residual value due to the club going into administration. Its a brilliant concept which I don't think will be agreed by the IFRS or SSAP but what the heck!

[Joe King]

Bankruptcy means that the club don't exist anymore. The players can't play for a club that don't exist can they?

Doesn't work like that. Think of Valencia as a business. If a business has gone into liquidation - they would need to pay their fixed charge holders, liquidators for their brilliant expertise, preferential creditors, floating charges etc.

[AFII]

I have never heard of AFSE before

AF **** explanations, fits better and you can use it more often.

[Fivex]

AFSE - AF School of Economics.

When you need assets selling, they sell at no residual value due to the club going into administration. Its a brilliant concept which I don't think will be agreed by the IFRS or SSAP but what the heck!

No idea what you just said, in English?

Doesn't work like that. Think of Valencia as a business. If a business has gone into liquidation - they would need to pay their fixed charge holders, liquidators for their brilliant expertise, preferential creditors, floating charges etc.

But I agree with the above, this was my original point, albeit put across in a more eloquent way

[Joe King]

No idea what you just said, in English?





But I agree with the above, this was my original point, albeit put across in a more eloquent way

That was pure sarcasm aimed at AFII and his rather weird view on business.

[Reece]

That was pure sarcasm aimed at AFII and his rather weird view on business.

And how we all laughed!