Are the Albion on the backlash of a hate campaign

[simpleton]

That doesn't read right. If they were planning on using the overdraft to cover a cheque, the money was never there - just the option to spend money they didn't yet have.

Some businesses, like football clubs, airlines and ice cream sales are cyclical. You have a lot of income at certain points of the year and little at others. Credit facilities cover the lean times of the year. Barclays pulled the credit on Southampton in April - at the lowest point of the year for clubs (before new season ticket money comes in). If your bank called in your mortgage overnight presumably you wouldn't be problem free?

 

[DannyCPFC]

It also shows that we are becoming a bigger club, more threatening in status if you like.

LOL

 

[simpleton]

There is no stadium debt. It has been paid for in cash, so to speak. When Southampton's owner dropped dead last year, TB was asked at the Fans Forum if anything happened to him, would we be ok. He said the money was ring fenced and that his family wouldn't be wanting anything. So don't worry about the stadium.
We would have to find a new owner but we wouldn't be in debt.

TB is a good guy and no doubt will look after Albion - but there is a debt (even if he decides it should be written off if he dies) and Albion arent breaking even, the club is being funded by a rich guy. If he were to walk away Albions situation wouldnt be any different to Pompey's who had owners who promised money would be forthcoming but didnt deliver. In TB's case Im sure that isnt going to happen.

 

[Thunder Bolt]

TB is a good guy and no doubt will look after Albion - but there is a debt (even if he decides it should be written off if he dies) and Albion arent breaking even, the club is being funded by a rich guy. If he were to walk away Albions situation wouldnt be any different to Pompey's who had owners who promised money would be forthcoming but didnt deliver. In TB's case Im sure that isnt going to happen.

The stadium money doesn't have to be repaid until 2023 interest free and if it hasn't been paid by then, Bloom will convert it to shares. How do you know that the Albion aren't breaking even? We were told that crowds of 12K were needed to service a mortgage before Bloom stepped in. We are averaging 19K-20K for every game. Season ticket sales are 500K a month, £2 million in shirt sales from two stores etc, and that is besides the stadium being used for wedding fairs, baby and maternity exhibitions, and Christmas parties when the Albion are away from home. Obviously no one knows what the figures will be until the accounts for the year are published but I think you will find that we are more than breaking even.