tag:blogger.com,1999:blog-9207869889056553596.post758485557833028520..comments2023-05-07T08:13:27.773-04:00Comments on #ProRelForUSA: How often do Relegated clubs go bankrupt?Chris Kessellhttp://www.blogger.com/profile/02067427045451324193noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-9207869889056553596.post-25186017050743188942020-03-07T10:40:47.396-05:002020-03-07T10:40:47.396-05:00The last time I watched Chivas they were called LA...The last time I watched Chivas they were called LAFC. It was clear when Chivas were contracted that they would be replaced. I support the most promoted and relegated team in the world. Since 1966 we have been on the verge of financial disaster 7 times. 6 times we were bailed out by benefactors. In 1967 by Jack Dunnett. In 1987 after successive relegations by Derek Pavis, under whom we quickly reached the top-flight. In 2003 a supporter donated £3.5 million which enabled the club to pay off its debts and for the supporters to take ownership. In 2009 we were taken over by fraudsters. After the milk van stopped delivering, the CEO put in a million of his own to keep us going. He sold the club to someone who claimed that he paid off £18 million in debt during his time at the club. After he lost interest someone who clearly couldn't afford it took over. Not only did he end up getting us relegated out of the Football League but his business went bankrupt because of the money diverted to the club. Finally he was bought out by foreign investors, just as it looked like we were done. My point is, I don't think the US has a tradition that would allow this to happen. More likely is that they would relocate a club or fold it and start elsewhere. By the way, you need to add Bolton and Bury to that list.fffhttps://www.blogger.com/profile/06150026266896771499noreply@blogger.com