part time pete wrote:The main issue is that any charlatan or rogue can buy any company, make short term money and then collapse the company.
As long as the rogue isn’t barred from being a director then by law anybody can buy a company and that is the main problem and that’s why I have sympathy for the EFL.
They could have easily changed their rules Pete to stop this happening by requiring prior approval of any new owner otherwise consent to play in the league can be immediately withdrawn. Nobody would then buy a football club without firstly making sure they had EFL consent although a rogue/charlatan/chancer who is only paying a £1 may take the risk and just try and blag his way through. The EFL in that case though should just suspend fixtures and require 7/14 days for all info to be provided otherwise you are expelled.
If the rogue/charlatan/chances was just after cash/assets then he might not be bothered about the club being chucked out.
A better solution would be for the EFL to have a golden share in every club in the EFL which gives them the right to take control of the club in certain circumstances and to then sell the club to a new owner within 2/3 weeks. If no new owner comes forward then the club is expelled and an Independent Regulator oversees the winding up of the football club including possibly selling assets to a new phoenix club. The new owner would be last in the queue for payment as a shareholder.
The EFL should also have rules preventing club's grounds being used as security for loans unless the money is spent on capital expenditure such as building a new stand or improving the ground.