Fulham, home of the Knightsbridge Store, have found they are not immune to the end of money as a method of exchange, and the change over to the goat and the packet of tea as units of currency.
They have to sort out their finances since Fortis Bank (their banker of choice), was nationalised by the Dutch, Belgian and Luxembourg governments last month. Apparently it will cost 18 chocolate bars or five rather dodgy looking ciggys to get into their next home match.
Bolton Wanderers meanwhile are starting to get twitchy. Their banker is Singer & Friedlander, which is or was part of the collapsed Icelandic bank Kaupthing. With the bank in administration Bolton now seem to owe a lot of money to a bunch of people (you, me, the British government, that kind of thing) and most of us (well certainly me) want the cash back now. If Bolton spend a penny on anyone, we might all have a case to take them to the European Court of Spending Someone Else’s Money.
The problem for us ordinary people is that KS&F has not ceased to trade, so there is no telling what they might get up to. On 8 October 2008 the High Court made an Administration Order under the Counter Terrorism Act in relation to KS&F.
Most worryingly on their web site it says, “Although Kaupthing Singer and Friedlander Limited (“KS&F”) has gone into Administration, it is currently business as usual. KS&F has not ceased to trade.”
Frightening indeed since it is our money they are playing with. Entry into Bolton’s next home match is 15 sheep and a diesel engine.
Speaking of my money, Liverpool Insolvency are now demanding that UEFA pay Liverpool’s incoherent fans to travel to their next UEFA cup match, which was in Madrid and now isn’t. UEFA gets its money by taking revenue from the TV Channels that show the Champs League games. Since I have Sky Sports that includes me, so part of that UEFA money was given by me and I absolutely do not want a single groat of it given to anyone supporting a team north of Seven Sisters Tube Station.
Want more? The new edition of Highbury High is out on Saturday for £2. It includes (you will be thrilled to read) an Untold Arsenal special which goes through all the reasons why Wenger is right, and the spivs and charlatans have got it wrong and I am a turnip.
There are of course other stories in the mag – so after you’ve read my piece six times and marvelled at my juxtaposition of verbal what not you can read the rest too and still have time to see us score 8 goals.
The subscription for six issues cost an unbelievably low £12 UK, £15 Europe, £18 World, 275 goat-heads (Bolton) 320 deciduous forests (Fulham) or 14 bags of someone else’s money (Liverpool).
“Middlesbrough have turned the tide of the game on its head”. Jonathan Pierce.
I’m loving your expose of football club finances and the global credit crunch. I was going to ask why I’m not reading all this in the papers, but then realised I know the answer to my own question!
For those not in UK, how can we get access to your article in the Highbury High?
You can subscribe to Highbury High from anywhere in the world – the rates and address have been given at the end of a few recent articles.
There’s no plans to publish the article here.
Tony