Saw a rumour that the Eddies are going to fold? Any solid news on that front?
Official news? No.
But the league has been running them for a year and their owner is insisting that any new owner cover up large debts that FC Edmonton rang up during both their CPL and NASL days. I've seen rumoured debts of $30 million out there. If that's true, then there's no way anyone in their right minds spends that kind of money on a club in the situation FC Edmonton are in.
Basically, FC Edmonton's owner is holding pro soccer in Edmonton hostage right now and it's going to be a long time before things look optimistic there.
Personally I'd be surprised if FC Edmonton is around on January 1.
I don't think they can, because FC Edmonton's owners have exclusive rights over the Edmonton area.
My interpretation of the whole situation is that back in 2018 when CPL was coming on board they needed FC Edmonton for the league to launch, so they bent over a bit to convince them to come on board (even though NASL collapsed around Edmonton). CPL would have done the same for the Fury but the Fury refused to come on board and Atletico Ottawa was able to be launched without any challenge.
But the league has been running them for a year and their owner is insisting that any new owner cover up large debts that FC Edmonton rang up during both their CPL and NASL days. I've seen rumoured debts of $30 million out there. If that's true, then there's no way anyone in their right minds spends that kind of money on a club in the situation FC Edmonton are in.
Basically, FC Edmonton's owner is holding pro soccer in Edmonton hostage right now and it's going to be a long time before things look optimistic there.
Personally I'd be surprised if FC Edmonton is around on January 1.
$30 Million? Thats outrageous! How did they dig that hole?
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$30 Million? Thats outrageous! How did they dig that hole?
That seems so far over the top that something has to be going on. The salary cap has been 1/30th of that and even with travel they couldn’t have racked up another $29m. That just sounds like millions that are unaccounted for.
Remember, FC Edmonton has been around for over a decade, including several years where they were playing in a league which included teams in New York, California and even Puerto Rico. I wouldn't be shocked if they were losing multiple millions of dollars those years.
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The $30 million includes the NASL days, that's where most of the debt comes from.
NASL had significantly higher player budgets (in USD) and travel was much worse than CPL. Plus he started a production company to broadcast games (in SD....which sums up his efforts) and built the one stand at Clarke as well. Combine that with sparse crowds, inability to keep much of the revenue generated at games, and limited sponsorship and the figure isn't outrageous.
At one point Fath was quoted as saying he needed 9000 fans a game to break even in NASL and they got maybe a third of that on their best days.
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Last edited by shermanator; 11-19-2022 at 05:25 PM.
Do the exclusive rights over the region end when the team folds? If so, let ‘em die and someone else can take a shot. Nobody in their right mind would inherit that sort of debt.
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I don't think the rights go away if there's no club. Fath is going to try and get his money one way or another. Smart logic says he would take what he could get for the club rather than lose it all out of spite but Fath hasn't been smart about anything FC Edmonton.
Hopefully a solution is found soon, I just don't have much hope for it.
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“This decision, while painful in the short term, will allow us to reset the market for a CPL return to Edmonton in the future. The key to this return is having a proper facility to showcase our matches and provide a first-rate fan experience. Unfortunately, Clarke Stadium in its current state is outdated and not suitable for this purpose. We look forward to working with the City of Edmonton leadership on a strategy to return CPL to the market in an appropriate facility. With the right venue, we fully believe Edmonton can, and should be, one of the best markets in the CPL.”
Well, it's official. FC Edmonton are done. The league stripped Fath of his ownership rights and Edmonton won't field a club in 2023.....
A quote from the commissioner indicates the league will return at some point.
Quote:
“I have made it clear since I became Commissioner that we need certain conditions in each of our markets for our clubs to be successful on and off the field. After careful review, these conditions simply didn’t exist at FC Edmonton, consistently resulting in the smallest league average attendance, lowest revenue, and poor performance in the standings, despite incremental league investment. The die-hard supporters and soccer community of Edmonton deserve better,” said Noonan.
“This decision, while painful in the short term, will allow us to reset the market for a CPL return to Edmonton in the future. The key to this return is having a proper facility to showcase our matches and provide a first-rate fan experience. Unfortunately, Clarke Stadium in its current state is outdated and not suitable for this purpose. We look forward to working with the City of Edmonton leadership on a strategy to return CPL to the market in an appropriate facility. With the right venue, we fully believe Edmonton can, and should be, one of the best markets in the CPL.”
Well with VFC getting on for next season, there's still an eight-team league. Perhaps they'll be the beneficiaries of some roster moves from this decision.
Despite all the troubles, I can't wait to see a franchise in Edmonton again one day. There's no reason why an intra-provincial rivalry in the CPL can't exist in Alberta with the franchise logistics a little smoother.
