dadams2k11
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Why the tumbs down [MENTION=29954]albionfan37[/MENTION]?
Doe's anyone know what the club pay a season for the trains and bus's subsidy's?...This needs to be scrapped in my opinion.
Awwww.......Some of their concerns are quite touching.I came across this and was quite surprised to find out its "promotion or bust" for us this season according to the nigels up the road.
http://cpfc.org/forums/showthread.php?t=254275
They might have budgeted for gates of 15k but i'm sure Bloom wasn't expecting such huge loses with our current attendances . That must be a major concern and with the highest prices along with Leeds.Awwww.......Some of their concerns are quite touching.
I find it hard to believe a financially astute Tony Bloom would commit to the financial cost of building a stadium without researching the costs involved.
I remember, prior to opening the Amex, it was reported they budgeted for gates of 15,000. As gates have exceeded that, the extra revenue may have contributed to the provision of the academy, once again, the operational costs must have been assessed before the commitment to build.
Like the vast majority of supporters, I am not sure whats going on at the moment and will miss players like Buckley.
Keeping the faith !
I think their electricity bills add up to something ridiculous.....im sure someone will be able to let us know what that is..
A very interesting question but one that no one here is likely to know the answer to. I remember that when Matthew Harding died it was found out that the money he had "given" was actually a loan which should have been repaid after his death. I believe that his estate didn't call in the debt but if they had it would have been very tough for Chelsea.
A good shareholders agreement will have this written into it.
Thanks for the answers guys, let's hope we don't find out anytime soon. My concern is as SAC says the estate could call upon the debt to be settled if they don't have the same love for the Albion as Tony has.
Tim could you please expand on your point? Would that shareholders agreement mean that a structured form of repayingvthe debt would have already been written in case of his death?
Is it true that we pay 1 million a year rent on the Amex to a Tony Bloom holding company?
Normally, although I must add that very few shareholders agreements are normal, there is a clause addressing debt and death. There would or should be a period within which the club could buy back shares / repay debt, however if there are death duties to pay etc there hand could be forced. There may also already be a agreement in place that deals with this, i.e. an underwritten agreement by another party (a bank) to handle the debt in the event of death over a longer period to create stability for the club. However, it may be that the debt isn't owned by TB but by a holding company and this creates another problem altogether, but with similar provisions I'd say.
All of this is pure conjecture as there may be any number of provisions in place or none whatsoever; although with that amount of money you are safe to consider it is covered!
As far as I know, its paid to the Community Stadium company who actually operate the stadium and are part of the same company structure as the club anyway. Its not a million quid to Tony's back pocket / poker account anyway.
Thanks again for taking the time to explain, I guess we will just have to hope he leads a very long and healthy life, and hopefully has even more success with his business dealings.
Is the right answer, the time we need to panic is when he runs out of cash and needs to conduct a fire sale! To be honest though for his investment, say £130m, he's got a Championship club with a large fan base and a shiny new training ground and stadium; most Russians, Arabs or Asian businessmen would snatch his arm off at £160m+
I think you'll find that another 50% on top of £130m might be nearer the total he's put into the football club and the stadium company. As of end June 2013 there was a total of £102m debt owed to TB by both companies; this excludes all the debt to equity conversions since his takeover, last year's losses and the cost of the Lancing training ground.
I think you'll find that another 50% on top of £130m might be nearer the total he's put into the football club and the stadium company. As of end June 2013 there was a total of £102m debt owed to TB by both companies; this excludes all the debt to equity conversions since his takeover, last year's losses and the cost of the Lancing training ground.