Connect with us

Non League

VIDEO: Are Ebbsfleet United In Serious Financial Trouble?

Following the recent reports stating about the financial troubles at Ebbsfleet United, YouTuber Luke Thompson (aka NLTV) takes a look at how serious it is.

Have a watch at the video below and/or read what he had to say further down…

So Ebbsfleet United are certainly no strangers to financial troubles having been on it’s knees back in 2013 before being saved at the eleventh hour by KEH Sports Limited. They came in May 2013, they’re a group of Kuwaiti investors and have completely changed this non league club, got them from the National League South up to the National League again after winning the playoffs in the 16/17 season. In their first season back in the National League they again got into the playoffs but lost out to eventual winners Tranmere Rovers in the semi finals. Now, it’s not looking so rosy.

It’s back in March 2018, local news outlet Kent Online announced that the club had lost two million pounds as an operating loss of a ridiculous amount of money during the 16/17 season and when you see that sort of figure, it shows that the club is really not very self sustainable. Now it seems that they have actually realised this.

On the 18th of October of this year, they announced they were going to financially restructure the club. Basically, it’s going to mean that players and staff are going to have to leave because they’re cutting the costs and when the news came out there was a lot of worry amongst Ebbsfleet and their fans because they’ve seen this happen before, they’ve seen it nearly go out of business and when that’s nearly happened to a football club, you seen those signs early on and they see those signs now. But their owner and chairman Dr Abdullah al Hammadi came out and reassured fans later that day after Kent Online reported on the restructure.

It sounds fairly relaxed, he’s not really stressing over it, he’s come out and said look guys, all I’m doing is stripping things back, making everything more self-sufficient which is going to benefit the club in the future. It’s a positive thing but on the flip side to this, there are the rumours that the club weren’t paying their players for seven out of the ten months before October on time, they started pre-season four days late due to not being paid, apparently jury their playoffs in the NLS season, players weren’t being paid on time.

It’s more understandable if a club goes for one or two months without paying their players on time, maybe just a cash flow issue or things like this. But if they go in before seven out of ten months without paying their players on time, which there is some people saying it isn’t true, then if true, it is a really really difficult situation to be in and it makes sense to have to restructure the club.

What this meant is instantly, as soon as they put it out there, the assistant manager and first team coach left the club. Darryl McMahon was disappointed they had to leave. Alongside this there had been rumours of bids for the high profile players, the like of Ebou Adams, Cory Whitely, Nathan Ashmore, Danny Kedwell, Michael Cheek, but so far none of them have left. But with the window opening for EFL clubs in January, then they might possibly leave.

Manager McMahon was expected to stay, signing a new five year contract in May 2017, which in non league terms is unbelievable. They now find themselves in the bottom half of the table and he has now left the club by mutual consent earlier this month. They’ve appointed Garry Hill as manager. He’s very experienced, very different to McMahon, so will be interesting to see how he does.

One thing that this restructure puts in doubts are Dr Abdullah’s plans to create a Disneyland type theme park, which will cost billions of pounds to make and make it local to Ebbsfleet so they can use that to try attract fans to the club’s matches.

 

Since the video was uploaded, fans took to comment on YouTuber Luke Thompson’s view of Ebbsfleet’s financial situation – check out what they’re saying on the next page.

NEXT PAGE

Pages: 1 2

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement
Advertisement

More in Non League