Craze football all over the world has also brought a lot more money in the big clubs. We have seen many big clubs earnings millions from commercial rates and sponsors all over the world.
There have been many big clubs who are directly benefited due to the foreign investment. While other looks for another local sponsors or sources of income. These clubs spent a huge amount of money on fans and expecting them to bring more audience and high rate of fan following of the clubs.
However, these types of gamble have turned out to become recent success stories for many big clubs but there are also many clubs who have faced a huge loss. When they sign a big player he attracts the crowd but when he wasn’t able to deliver the expected form which was hoped from them by the clubs. Here are 4 clubs who went bankrupt.
The one of the Italian giant’s clubs parma has to face a huge insolvency in the recent years 2015-16. As the clubs didn’t have the funds and went insolvent, despite having the rich legacy and wins. But still, there were many players who chooses to play for the club and save it without getting paid.
As the players can’t even afford a driver for the team bus. Thus the coach has to drive their way to the matches. They were in a serious debt due to facing the failure in the Serie A season. In a match against Udinese was postponed due to the clubs wasn’t able to pay the stewards and they were not been able to even afford bottle during the training sessions.
Still, there are players like Roberto Donadoni and Hernan Crespo who has been working for the clubs growth with getting paid a single penny
#3 Glasgow Rangers
The glaswon ranger is a famous team of glass in town. In the late 2000s, the rangers began to spend a huge amount of money in the transfer market from the money they earned in the Scottish premier league. They started the search for new European talents. They have also spent huge millions for the development of youth players. Every passing year they spent £13 million for youth development.
They were in debts of £30 millions by the end of 2009. The debts then reduced to £18 million but after adding the future taxation services of UK it becomes £49 million for the club. The situation becomes so worse that David mores sold his 85% of stakes to wave tower limited in hope that the owner would pay his debts.
But that also backfired them. It was put under administration and they have work up from the 4th division team
Leed united was did so well that they were expected to become one of the best teams in Europe. When the club is rumored rich but at last, they ended up losing everything they had.
The leed has become one of the most dominant teams in England. As they have also finished in the 3rd position following league table. They had become one of the main contenders for the league titles and they started becoming a forbidden team for the premier league era. The team has also appeared in the champions league final of 2001.
That was the time when clubs started spending a huge amount of money on players hoping to get the revenue generated from the next champions league matches. But the things changed for them as they weren’t able to qualify for the champions league and ended up in debts of 119 million.
Another Italian club has to face insolvency. Was this about the greed owners? Or less amount of income?. We really didn’t know but we have understood that the road is not easy to earn a football club
The 2 time Seria A winner and 1-time champions league runners ups has been disbanded in 2002 because of their financial crises came out in open. The club is having a remarkable performance in 2001. When they have qualified for the UEFA cup and won the Coppa title. But everything seems to get vanished.
When it get revealed publicly that the club was running under the bad debts of around £30 million. Which was a huge amount of money that time. This made the club to shift at the 4th tier position.