I remember the times Scunthorpe United and their owner Peter Swann were held up as an example of what a good owner could bring to the club, there was an offer in for the club as Swann wanted out and the new potential owners were doing due diligence, if it is tax would that have to be paid by Peter Swann or the new owners ?.
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Most liked posts in thread: Scunthorpe
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bantamlad92 Squad PlayerP.L. 21/22 Entrant P.L. 20/21 Entrant
These things happen all the time - they'll be fine.
Gardscoigne and Onside like this. -
Stafford Bantam CaptainModerator P.L.22/23 Entrant P.L.23/24 Entrant Supporter P.L. 20/21 Top 30
Their old ground (The Old Showground) was one of my favourite away grounds. They were the first club in England to have a cantilever stand.
Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...1975citygent and NorthernMonkey like this. -
JonButterfield likes this. -
Edin Nowhere Impact SubP.L.22/23 Entrant
They will be kicked out of the national league like other clubs should they not be financially viable and end up right at the bottom, which could kill the club.Bronco likes this. -
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Football finances are screwed across the board and we need to start requiring owners to pay a bond up front which guarantees to cover future losses if they don't want to run their clubs sustainably. If they can't keep up with the bond requirements then an independent administrator is brought in to run the club until it can be sold and the bond is used to cover any ongoing losses during this period.
In relation to Scunny, the papers from the court case that Swann is facing regarding gambling debts do not make good reading:
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Edin Nowhere Impact SubP.L.22/23 Entrant
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bantamlad92 Squad PlayerP.L. 21/22 Entrant P.L. 20/21 Entrant
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‘This was only Scunthorpe’s eighth win in 82 league games, a torturous run stretching back to Easter of 2021. No club in English football’s professional pyramid has had it worse. Interminable suffering.
Relegation from League Two was the club’s unavoidable fate last season to end 72 years in the English Football League (EFL) and this campaign, a first in non-League football since 1950, has only brought further ignominy.
Scunthorpe are bottom of the National League, the fifth tier of English football, and facing up to the dismal prospect of playing regional matches in 2023-24 if marked improvements are not found between now and May. Five points is the deficit to safety, even after Saturday’s cherished victory.’ https://theathletic.com/4084541/2023/01/13/special-report-scunthorpe-united-a-club-on-the-brink/