Should we be a bit more worried about the risks associated with Bloom bankrolling us?

[Withdean Wanderer]

So, one year into life at the new stadium, 3 years into Bloom's Chairmanship and still nobody really has a clue about our owner's wealth.

What happens if he runs out of money one day?

We're trusting he'll never want to be paid back for the stadium, which is understandable, albeit dangerous. But even if that is the case, what about the running costs? Will the money that comes in cover the costs of running a successful side, a lot of staff and a bloody great big stadium?

I know we're selling a lot of pies and getting 20,000 in the gate, but there's a lot of teams who get 20-30,000 fans who struggle financially.

Could we go the same way as Palace under Jordan, for example?

I don't particularly worry, and I think Tony Bloom's bloody brilliant - and even better, he's a trustworthy character with a vast Albion background. But that doesn't mean he isn't as vulnerable to a financial meltdown as the next person.
Given our previous ownership issues, it amazes me how everyone can be quite so relaxed about the situation, when we still know bugger all about the chairman really.


I'm not seeking the blue and white tinted specs view here, but some reasonable reassurances that, now the stadium is built, we could survive without Bloom's wealth. Or that, at the very least, he really is a multi billionaire and we shouldn't be worried!

 

[cloud]

Could we go the same way as Palace under Jordan, for example?

Jordan is loaded as well - I'm sure she'd help us out if it ever looked like we were going to go bust.

 

[Notters]

No.

 

[brightonbaz]

Nope....stop worrying!

 

[itszamora]

It's a fair point. I have heard him say that he wants the club to be run as a financially viable entity that can run without outside assistance. Whether it is at that stage yet, I do not know. I suspect it is not, but probably isn't a million miles away. The extra seats will help.

 

[chucky1973]

is blooms money all tied up in Property now? (amex apart) In bricks and mortar he is absolutly loaded.

If he struggles, he will just have to play more cards

 

[Falkor]

I actually meet someone the other day who is very close to Bloom's Dad, and is great friends with his accountant, and i promise you there is no need to worry about his finances.

 

[seagullsovergrimsby]

If TB ever became short of a few bob I'm sure the Jewish business community in the UK would be keen in making an astute investment opportunity to help him out.

 

[GingerBeerMan]

He's a very cleaver man, i'm sure he has a lot of safeguards against financial crashes or property crashes.

 

[Mellotron]

To quote a previous thread, it's HILARIOUS that some people still don't believe Bloom is a billionaire. (He is.)

 

[Stat Brother]

I actually meet someone the other day who is very close to Bloom's Dad, and is great friends with his accountant, and i promise you there is no need to worry about his finances.

Plenty to worry about for his confidants those.

 

[Gordon the Gopher]

To quote a previous thread, it's HILARIOUS that some people still don't believe Bloom is a billionaire. (He is.)

Absolutely. You don't spunk 150m if you are not worth a hell of a lot more. If he were to sell all his assets tomorrow (excluding the Amex), he would be worth more than a billion. The cleverest rich people are the ones who don't flaunt it!

 

[Notters]

No.

 

[Falkor]

Plenty to worry about for his confidants those.

Not really a number of people that have posted on here have told me what he did infact you could find it on the web easily.

I dont know how much he has nor did my friend want to tell me, he just said that money is not a worry what to ever

 

[les dynam]

To quote a previous thread, it's HILARIOUS that some people still don't believe Bloom is a billionaire. (He is.)

This. On another note, the stadium must generate mega revenues for the club (match days and non match days, but mainly match days) which will help with FIFA's Fair Play rules so Bloom won't be required to pump much cash in to achieve mega success.

 

[Springal]

It's not just Bloom that is "new" - the whole boardroom dynamics has changed. We have one VERY astute businessmen involved at boardroom level now, which have slipped in quietly. While Bloom is away (quite a lot) commercially the club is being run very well.

While we have a right to be concerned, from all evidence I have seen, it's a well run outfit.

 

[Withdean Wanderer]

It's not just Bloom that is "new" - the whole boardroom dynamics has changed. We have one VERY astute businessmen involved at boardroom level now, which have slipped in quietly. While Bloom is away (quite a lot) commercially the club is being run very well.

While we have a right to be concerned, from all evidence I have seen, it's a well run outfit.

We have a boardroom packed with a load of Bloom's mates. I don't doubt there's a lot of experience there, but the same could no doubt be said of many football boardrooms.

And as for the post above that says it's hilarious to not thing Bloom is a billionaire...why? The only evidence out there seems to suggest he might be, but quite equally might not be. He's stumped up 150 millionish for a football club, that doesn't mean he's got more than, say, 300 million does it?

 

[Springal]

We have a boardroom packed with a load of Bloom's mates. I don't doubt there's a lot of experience there, but the same could no doubt be said of many football boardrooms.

And as for the post above that says it's hilarious to not thing Bloom is a billionaire...why? The only evidence out there seems to suggest he might be, but quite equally might not be. He's stumped up 150 millionish for a football club, that doesn't mean he's got more than, say, 300 million does it?

I'd not say packed with his mates! Either way all are successful in their own rights individually, with strong backgrounds so it's a bit more than just his mates.

And you don't get £300m (say) by tying up half of it for 20 years

 

[BadFish]

I would prefer if the club were run as a viable business rather than one with a sugar daddy. I agree with the OP that it is folly to assume everything is okay and if we started chucking money around on transfers and silly wages. I would be extremely concerned. Why people believe we are somehow immune to the pitfalls experienced by other clubs is beyond me.

To be honest though aside from the loan for the stadium I am currently happy that we are not living too far beyond our means.

Aside from the dangers of one person bankrolling a club, we should also consider the moral aspect and look at the way the Premier league has been affected by the influx of money from single benefactors and the problems it have caused for the other clubs trying to compete.

 

[Northstandite]

Very private individuals of far less worth than TB, always make into the Sunday Times rich list each year.

I'm guessing that as an adopted Australian citizen, he escapes that list?

I've been told that he has equity in properties of several £100m, not to mention the cash made from the gaming business & Poker.


Albion business plan:
The capital projects were largely funded by his interest free and longterm loan. That has no negative impact on the club in the slightest.

The Blooms love the club to the core, unlike many owners, as well as the ego-boost of running a thriving club in a hyped industry.

The football & operating side, now we are at the Amex, is to be run on break even to profit basis. With a new turnover of say £25m per annum and rising, the outlay on transfers and player wages so far would seem small compared to many clubs with similar or smaller Southern (wealthier) fanbases.