Football Finance
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[article]
This Is Anfield • Liverpool FC News •
Anfield stadium contractors file for administration – after delays at Liverpool and Fulham
The news arrives two days ahead of Liverpool’s first home game of the season, which was due to be the first game in front of the Reds’ new stand and with a 61,000 capacity.
However, delays on Buckingham’s work have meant that the new target date for completion is mid-October, but even that could now be in doubt.
Buckingham have also been responsible for the building of Fulham FC’s new Riverside Stand, but that project is now over two years delayed.
It’s the work at Craven Cottage that is reported to have led to Buckingham filing for administration, with Fulham updating their supporters this week that the new stand won’t be completely ready until 2024/25 season.
Work on the Riverside Stand started in summer 2019 and was due to be complete in 2021, but Fulham were forced to delay the stand’s opening twice, before a phased opening that began last season.
This news will be concerning to Liverpool supporters, who have been told that a similar approach will be taken with the new Anfield Road Stand.
A test event was held at Anfield on Tuesday this week in order to attain the safety certification for the Lower Tier, which remains largely the same as before development.
The new Upper Tier, though, will not host supporters vs. Bournemouth on Saturday and Anfield’s capacity will be reduced to around 51,000.
Work on Liverpool’s Anfield Road Stand began in September 2021, with an aim of completion in time for the new 2023/24 season.
The major concern now will be whether work can continue on the Anfield Road Stand while the company is in administration or if this will lead to further delays.
The company responsible for the cladding of the new stand, subcontractor SD Samuels, filed for administration in December and was understood to be one of the reasons for the delays at Anfield.
Liverpool FC have been contacted for comment.
[/article]
This Is Anfield • Liverpool FC News •
Anfield stadium contractors file for administration – after delays at Liverpool and Fulham
- August 17, 2023
- Jack Lusby
The news arrives two days ahead of Liverpool’s first home game of the season, which was due to be the first game in front of the Reds’ new stand and with a 61,000 capacity.
However, delays on Buckingham’s work have meant that the new target date for completion is mid-October, but even that could now be in doubt.
Buckingham have also been responsible for the building of Fulham FC’s new Riverside Stand, but that project is now over two years delayed.
It’s the work at Craven Cottage that is reported to have led to Buckingham filing for administration, with Fulham updating their supporters this week that the new stand won’t be completely ready until 2024/25 season.
Work on the Riverside Stand started in summer 2019 and was due to be complete in 2021, but Fulham were forced to delay the stand’s opening twice, before a phased opening that began last season.
This news will be concerning to Liverpool supporters, who have been told that a similar approach will be taken with the new Anfield Road Stand.
A test event was held at Anfield on Tuesday this week in order to attain the safety certification for the Lower Tier, which remains largely the same as before development.
The new Upper Tier, though, will not host supporters vs. Bournemouth on Saturday and Anfield’s capacity will be reduced to around 51,000.
Work on Liverpool’s Anfield Road Stand began in September 2021, with an aim of completion in time for the new 2023/24 season.
The major concern now will be whether work can continue on the Anfield Road Stand while the company is in administration or if this will lead to further delays.
The company responsible for the cladding of the new stand, subcontractor SD Samuels, filed for administration in December and was understood to be one of the reasons for the delays at Anfield.
Liverpool FC have been contacted for comment.
[/article]
This is very bad news. Hope it doesn't end up like the new Royal Hospital after Carillion went bust - that was in limbo for years as no new contractors wanted to take on responsibility for someone else's work up to that point. Could be a very serious problem but hopefully less of an issue for a private contract. as opposed to a government one.
B...b.....but we've at least signed Endo....😳
You'd have thought there definitely would have been a conversation where the company would have told the club what was about to happen and the club could have changed their tune.
What is it? Around 10000 seats that we can't use right now, and possibly for the foreseeable future?
What is it? Around 10000 seats that we can't use right now, and possibly for the foreseeable future?
The jolly positive brigade will tell you how amazing we are that we mamaged to do it all in one week.
That explains where we are getting money to bid for players now
It will also be the excuse for why we can't spend anything next summer
It's the Fulham gig which has screwed them and affected the Anfield Road end.
https://www.building.co.uk/news/bus...4m-hole-in-buckingham-numbers/5121087.article
The client that kept changing their mind as referred to in the article is Fulham FC
https://www.building.co.uk/news/bus...4m-hole-in-buckingham-numbers/5121087.article
The client that kept changing their mind as referred to in the article is Fulham FC
I am not a UK lawyer of course but the point of being placed into administration is surely to allow the Company some breathing space so that all actions against the company are halted, everyone comes to a compromise, profitable projects get completed, creditors, subcontractors and employees get paid, and the company lives to see another day? It doesn't mean construction gets called off, just that an insolvency practitioner is now in charge.
https://www.liverpool.com/liverpool-fc-news/features/liverpool-chelsea-premier-league-deal-27568472
Thought this was especially interesting— surely not a typo?
While the Premier League is expected to assess these complex investment links, they may also examine whether Infinite Athlete's annual turnover of around $15m (£12m/€14m) aligns with the proposed $51m (£40m/€47m) per year deal with the football club.
Thought this was especially interesting— surely not a typo?
While the Premier League is expected to assess these complex investment links, they may also examine whether Infinite Athlete's annual turnover of around $15m (£12m/€14m) aligns with the proposed $51m (£40m/€47m) per year deal with the football club.
I used to be sent deals like this all the time for financial due diligence (although not at this kind of value, usually £0.5m - £1.5m range) and the message to the commercial guys was always the same - don't give them anything until they've paid us, because the chances are they never will.
This would be a big risk for Chelsea, and if I were Infinite, even believing I could pay, I would want a discount in year one as my name / brand probably won't make it onto replica shirts until next season - they'll have been designed and manufactured without my logo on them.
At this stage it probably falls into shit or bust territory as there are no better/other offers on the table. Lost count of the time commercial guys used this as the excuse to push a deal through when they knew as well as I did that we weren't getting paid (but they hoped they'd still get their bonus / commission).
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oh look another PIF related sponsor. Nothing to see here
Lol @ Everton
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