yes, secured creditors first then employees wages

not a complete boffin on football finances, but I would presume that transfer fees for players would be treated like secured creditors where a company buys a machine but pays over a period of time. The company can secure the debt against the machine. I presume a football club would secure the debt of a transfer fee against a player.

I could be wrong though, I dont deal with football clubs, just my thoughts.

Posted By: Tony Martin, May 25, 12:20:58