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Post by mermaidsal on Oct 6, 2008 17:44:03 GMT
Just to change the subject from doom and gloom on the pitch... how much is the crash going to affect us, directly and indirectly? How dependent are we on the state of the other Coates businesses day to day, or month to month? Is that going to affect what we can spend in January?
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Post by stokey-pokey pudding and pie on Oct 6, 2008 17:49:36 GMT
well i can't see bookies being affected directly but i assume a recession will mean a drop in turnover for bet365. dont know how dependent we are?? doubt it'll affect jauary spending though, looks like the crash will be limted to the financial sector for a while yet
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Post by sheikhmomo on Oct 6, 2008 17:51:43 GMT
Bookmaking as a whole is surprisingly recession proof.
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Post by stokie25 on Oct 6, 2008 17:57:09 GMT
good thread sal! Never thought about it but Coatsey has to look after his own - as we all do! I reckon we're good for this season, but i'm sure the financial restraints will become apparent next season - Come what may!  |
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Post by powchirper on Oct 6, 2008 18:10:27 GMT
I bet it wont ;D
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Post by Staffsoatcake on Oct 6, 2008 20:35:18 GMT
Chirper,put the bet on with Bet 365.Coates needs the money. ;D
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Post by stokiegav on Oct 6, 2008 21:35:20 GMT
Bookmaking as a whole is surprisingly recession proof. wouldnt be surprised if his turnover increases - in desperate times people need all the hope they can get |
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Post by slangking on Oct 6, 2008 21:38:30 GMT
Could be worse, we could be still owned by those Icelandic clowns.
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Post by mumf14 on Oct 6, 2008 21:50:10 GMT
News direct from the Financial nerve centre in Fegg Hayes community Centre...
The value of the Icelandic Kroner has in the last week halved.
The Icelandic Prime Minister today announced that the whole country now faces bankruptcy.
Hundreds of Icelandic Investment 'Bankers' could now suffer the same fate...
What a bloody shame I say...." All aboard the Skylark....Lets go kill a few Minkies instead..."
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Post by smapples on Oct 7, 2008 8:53:51 GMT
Bookmaking as a whole is surprisingly recession proof. wouldnt be surprised if his turnover increases - in desperate times people need all the hope they can get Spot on, In times of doom and gloom demerit goods/services such as fags booze and betting seem to be on the increase for some people. Ive found ive bought more scratch cards this past month than I ever have (football betting is too unpredictable). It seems with the weather getting shit and the media hammering on about how no one is safe, people seem to want escapism. However all this is softened by rise in bills, but I would say there was still in increase. The real question is, is Coates gonna spend to succeed or give up? Bring on the warchest |
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Post by msfit on Oct 7, 2008 10:41:59 GMT
I'm not sure if the betting itself will be affected, but Coates must have put his money somewhere as I don't think we get our money from Bet365. So I think Coates have lost quite a bit the past weeks. Wouldn't be surprised if Bet365 have put money into the financial market either.
So personally I think the whole football world will be heavily affected by what's happening now. Will be interesting to see in January.
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Post by Lakeland Potter on Oct 7, 2008 10:51:03 GMT
I think it is probably right that bookmekers are more recession proof than many conventional businesses.
The money for Stoke will probably have been "ring fenced" and kept separate from the betting business and I'd expect it was on deposit rather than invested in the markets. Coates is wiley enough to know that short term money is better on deposit than tied up in a share portfolio which is more usefully seen as a long term investment - even if he could not predict the current stock market troubles.
Despite all the "close shaves" and alarms, no one has actually lost money in bank deposits so far - with the possible exception of Iceland and I doubt if Coates of all people has deposited money there! ;D Coates' biggest problem will be whether to decide whether to park his cash in a foreign (Irish) bank where there MAY be greater security.
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Post by Northy on Oct 7, 2008 11:45:28 GMT
well i can't see bookies being affected directly but i assume a recession will mean a drop in turnover for bet365. dont know how dependent we are?? doubt it'll affect jauary spending though, looks like the crash will be limted to the financial sector for a while yet quite a few people are getting made redundant, anything to do with houses etc. Builders, estate agents, financial advisors, solicitors and agencies that rely on them. Jobless total rose by 150,000 last month, my missus being one of them. |
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Post by lordb on Oct 7, 2008 12:27:21 GMT
the issue with the Icelanders as otherwise pointlessly raised above must surely impact on West Hams finances?
if they have to sell sell sell come Jan then maybe thats 1 relegation place sorted?
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Post by Lakeland Potter on Oct 7, 2008 12:33:44 GMT
The issue of the Icelandic banks was certainly not raised pointlessly. I think when the review of this crisis is eventually chewed over with hindsight it will be found that Iceland deserves a place in the Guinness Book of records as having achieved the largest combined bank debts compared to the size of it's GDP of any country in history.
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Post by lordb on Oct 7, 2008 12:40:22 GMT
& that relates to SCFC how?....
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Post by Lakeland Potter on Oct 7, 2008 12:47:08 GMT
Well - if Coates had invested his money in an Icelandic bank then he WOULD have more cause to worry than he would if he had banked in almost any other western country - I notice this morning that an Icelandic bank has just slapped a (hopefully temporary) ban on withdrawals and transfers.
The reason I suggested Coates would not have banked with an Icelandic bank is so obvious as to hardly need explanation I would have thought?
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Post by lordb on Oct 7, 2008 12:58:10 GMT
its unlikely isnt it!
hopefully the crdit crunch will continue if only because it will be hilarious to see certain big clubs suddenly being unable to re-finance their obscene debts.
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Post by smapples on Oct 7, 2008 13:16:35 GMT
& that relates to SCFC how?.... Trouble for opposition=turmoil in thier camps=Newcastle situation I work for an oil company and to my knowledge the teams that will prosper the most from this is ones with Arabian/Russian oil lords at the helm. Teams that will suffer will be the ones who get funding from billy big time bankers. This is because of traders/credit market and also the media hammering on about the crunch meaning joe public takes thier savings out of the banks, which scuppers that bank as thats the money they use for their lending in which the bank makes profit from. Vicious circle anyone As someone said it is an interesting season financially, which could mean us staying here through default. |
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Post by Kenilworth_Stokies on Oct 7, 2008 13:30:38 GMT
Clubs which are PLCs must take a hit surely? Aren't the likes of Spurs listed on the stock markets? Surely Man U and Liverpool whose club finances are hinged upon making money as an investment for their US owners will be hampered.
Also, clubs with planned stadium developments like Liverpool, whose Stanley Park move was shelved recently due to credit crunchery, will find their moves called into question.
Small clubs requiring an overdraft would presumably find that overdraft harder to come by, which might affect those wishing to sack their manager but who have no money to fund an external successor. ;D
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Post by surreystokie on Oct 7, 2008 15:09:59 GMT
KS, credit crunchery? ;D That, together with the proposed £30M fine, is why I had WHU as one of my clubs for relegation. The latter doesn't have to be a club in the XXXX, right now. In fact Spurs finished fifth, after having our number of points from same matches, not so long ago.  ;D !! |
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Post by Kenilworth_Stokies on Oct 7, 2008 15:16:06 GMT
Basically, you're alright if you're owned by Cash Converters.  |
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;D !! 
