Loan as I understand it was part of the scheme the government was offering and had a period free of interest and low interest there after. Many clubs done it and Spurs borrowed iro £150 m.
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[Albion] Are we broke?
- Thread starter lovelyboy
- Start date
Loan as I understand it was part of the scheme the government was offering and had a period free of interest and low interest there after. Many clubs done it and Spurs borrowed iro £150 m.
- Thread starter
- #42
Ha, not a Palace fan just a very infrequent poster. Agree about the iffy username though!
It’s been quite reassuring reading all the replies and does indeed seem like I’ve been worrying unnecessarily!
I do understand about the need to trim the squad, especially the high earners who aren’t starting. However with Blooms wealth such a secret and rumours that a lot of it comes from commercial property investment (which has obviously been very hard hit from COVID) the fact we took a loan out set the alarm bells ringing!
RM-Taylor
He's Magic.... You Know
- Jan 7, 2006
- 15,278
Amex has been expanded from 30,750 and is now 31,800. Should be 32,500 by next summer.
https://www.brightonandhovealbion.com/news/2056428/amex-capacity-to-be-increased
https://www.brightonandhovealbion.com/news/2056428/amex-capacity-to-be-increased
AZ Gull
@SeagullsAcademy Threads: @bhafcacademy
Nope.
Albion wouldn't have met the criteria to borrow from that Bank of England facility (both Spurs and Arsenal did, however).
There are more details about Albion's loan here, in the Athletic - Exclusive: Brighton borrow £37m from financial institution after losses triple
Albion's finance director is quoted as saying:-
As far as I know, the interest rate has never been reported, but it certainly isn't zero.
Mancgull
Well-known member
Yes, agree. He’s shown in today’s training ground photos and he looks fit and ready to go. Interesting that I saw no photos of Aaron Connolly.
Psychobilly freakout
HellBilly
Ah the first bit of good news today.
Dickie1965
Member
- Sep 27, 2016
- 39
Don’t know much about commercial property but sports betting/gambling has not been hit hard. Both the operators and suppliers in this sector of the market are doing very well, both here and abroad. I am sure Starlizard is doing just fine.
J.Stern are the specialist financiers lending short-term funds to football clubs across Europe, securitised against a forthcoming season’s broadcasting income. They’ve been doing this for 6 years now.
Commercial property will also be fine in the medium to long term. Empty offices have been and will increasingly be converted into residential, making huge windfall gains for freeholders.
Bloom’s business activities are diverse. Cala would’ve paid handsomely for the land with planning permission for 600 new homes.
Terry Butcher Tribute Act
Well-known member
- Aug 18, 2013
- 3,235
He had an international break early in the summer didn't he? So probably not back yet?
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Mancgull
Well-known member
Ah, yes, good point.
Joey Jo Jo Jr. Shabadoo
Waxing chumps like candles since ‘75
- Oct 4, 2003
- 11,189
He pulled out if the Ireland squad with a foot injury so didn't play in either of their games at the end of the season. Never saw any details on what the exact injury was or how long it was expected to take him to recover, but it was also a foot injury that kept him out of our squad towards the end of the season.
Its possible because he was training later he's still not reported back (although Shane Duffy was involved in those games and is back in pre-season training with us), or more than likely as he's been injured he's still doing rehab/fitness work etc separate to the rest of the main squad.
I know was a blip with covid but may as well give up if we have an income of £120/140m and are broke.
I remember Barber making a statement he was having meetings with Dunk and Murray about players accepting a reduction to help cover loss of income during covid. This was followed by another statement that it would be dealt with at end of season. As it would have been good PR for players if they had agreed assume nothing came of it
I remember Barber making a statement he was having meetings with Dunk and Murray about players accepting a reduction to help cover loss of income during covid. This was followed by another statement that it would be dealt with at end of season. As it would have been good PR for players if they had agreed assume nothing came of it
- Jan 3, 2012
- 16,642
If we were broke, we might not be playing hardball with Arsenal over Ben White. I’ve read stuff today which implies our stance is that Arsenal will pay what we want - which will be silly money - or nothing will happen.
As others have said, we are trimming a very large squad.
CP 0 3 BHA
Well-known member
That is an interesing read - most Premier League clubs are having major clear-outs it seems.
Except Palace - presumably because they haven't made their mind up yet - or haven't sent the right chit to the Premier League to record their released list.
This approach is far from unique in the EPL though.
Liverpool had to pay what Southampton wanted for VVD.
Man Utd had to pay what Leicester wanted for Old Slabhead and what Palace wanted for one-season-wonder-wan-Bissaka.
I’m not sure Arsenal are used to paying over the odds and would be surprised if they landed either White or Bissouma.
- Jan 3, 2012
- 16,642
Totally. That’s why I finished with “or nothing will happen”. I don’t think it will.
Neville's Breakfast
Well-known member
Businesses borrow money against assets or income. Managing cash flows is a part of the responsibility of running a business. Even countries borrow money. It’s not the same as an individual borrowing to get through to payday. I would suggest that the sort of money you are mentioning would only be lent to a viable business. Money goes to money.
southstandandy
WEST STAND ANDY
- Jul 9, 2003
- 5,671
Just trying to reduce our costs and losses which makes total sense to me.
I don't want us to do a Villa and spunk £150m each summer on players we can't afford by living off the never never.
Tony is prudent and is trying to keep the good ship Albion on sustainable terms, and that's fine by me, even if we don't spend any more this summer.
I don't want us to do a Villa and spunk £150m each summer on players we can't afford by living off the never never.
Tony is prudent and is trying to keep the good ship Albion on sustainable terms, and that's fine by me, even if we don't spend any more this summer.