Unbelievable what is happening up there.

Where have all the parachute payments gone ? they dont even have a squad, bankers to go down this season.

Makes you think the owners have to be accountable to the league/FA especially when such large sums of money are involved and the parachute payments are supposed to be there to fund the team and the players wages. Instead they sell/release everyone and syphon the cash out of the club

 

It's not surprising, they were relegated at the end of 2010/11 season and haven't bounced back.

http://www.bbc.co.uk/sport/0/football/22171365

According to that article clubs receive £48m over four years after relegation

1st season £15m, 2nd £17m then 3rd & 4th £8m each season

So based on those figures alone their income has dropped by another £9m ahead of this season, Cubs just cant sustain it and have to cut back or go bust.

Happened to a few clubs like Leeds, Wolves, Sheff Utd, Sheff Wed, Forest, Pompey etc... where relegation to league 1 is on the cards after loosing the better players and the money.