Forest and FFP

[nwgull]

I'm not disagreeing with you, just replying to your point that Forest reported losses similar to ours. Clearly, their recent reported loss is neither here nor there - but the fact they have CLEARLY overspent on players leaves them with a problem. Either they reduce their wage bill in time for next season when FFP takes hold for real, or they are going to be fined (or at least ought to). Same goes for QPR...

FFP takes hold for real on this current season's accounts. It's already too late for Forrest and QPR to reduce their wage bill.

 

[Triggaaar]

Nope. We don't restrict grocers, phone manufacturers or sex toy emporiums, why football clubs?

Those organisations are not very similar to football clubs. They are generally run for profit, and they don't have many thousands of fans that would suffer if they went out of business.

 

[ditchy]

Those organisations are not very similar to football clubs. They are generally run for profit, and they don't have many thousands of fans that would suffer if they went out of business.

EL Pres would be restricted in obtaining his sex toy collection !

 

[El Presidente]

Those organisations are not very similar to football clubs. They are generally run for profit, and they don't have many thousands of fans that would suffer if they went out of business.

If Tony Bloom is declared bankrupt there would be no Albion though, regardless of FFP compliance.

FFP is profit, not cash based, and as anyone who is worked in insolvency will tell you, it's cash that matters

 

[drew]

There was some big meeting about FFP and proposed changes last week, wasn't there? With all 24 Championship clubs represented.

I think you'd be surprised at some of the clubs who want it watered down, it isn't just the really obvious ones.

There are some prime movers trying to challenge the approach, but they have managed to get a few others onside.

Where does it say that meeting was about watering down the proposals?



As for the idea about a rich benefactor, I have no problem with that provided the money is not in the form of loans that can be recalled when the benefactor goes walkabout. Put money into a club by all means but you can only recoup through the sale of your shares. On that basis, any rich person may think twice about spunking a load of money on a gamble to get promoted. Also, penalty for administration should be something like a double relegation and they should remove the Football League rule about paying football creditors in first.

 

[Titanic]

If Tony Bloom is declared bankrupt there would be no Albion though, regardless of FFP compliance.

FFP is profit, not cash based, and as anyone who is worked in insolvency will tell you, it's cash that matters

What is the extent of secured debt... compared to the assets?

 

[El Presidente]

Difficult to work out as TB has lent the money to the club, and so nothing appears in the accounts. My understanding is that he has another £x00m spare, but the principle in relation to FFP stands

 

[Triggaaar]

If Tony Bloom is declared bankrupt there would be no Albion though, regardless of FFP compliance.

That's not a fact. They'd need to sell the club for what they could, and they'd probably get more if they sold to someone who wanted to keep the club, given that the ground is not worth much as anything but a football stadium.

as anyone who is worked in insolvency will tell you, it's cash that matters

Cash is obviously important, but it's not the only thing that matters.

 

[Titanic]

Difficult to work out as TB has lent the money to the club, and so nothing appears in the accounts. My understanding is that he has another £x00m spare, but the principle in relation to FFP stands

but surely if TB went bust... his creditors/administrators would have to sell his shares for whatever they could get?

And whoever bought them would have a shiny newish stadium and a club with great revenues and relatively little debt to deal with??

 

[Rugrat]

but surely if TB went bust... his creditors/administrators would have to sell his shares for whatever they could get?

And whoever bought them would have a shiny newish stadium and a club with great revenues and relatively little debt to deal with??

He owns the land so they might think they could flog it to someone like xxxx grocery store or xxxx house builders, which might well be worth more than a 2nd tier football club?

 

[Titanic]

He owns the land so they might think they could flog it to someone like xxxx grocery store or xxxx house builders, which might well be worth more than a 2nd tier football club?

it's not a very big plot, is it.... and I don't think either of those is very likely. Can you imagine the cost and time it would take to get the planning application / appeal / enquiry etc... through??

 

[PILTDOWN MAN]

it's not a very big plot, is it.... and I don't think either of those is very likely. Can you imagine the cost and time it would take to get the planning application / appeal / enquiry etc... through??

I thought it was leased

 

[Rugrat]

it's not a very big plot, is it.... and I don't think either of those is very likely. Can you imagine the cost and time it would take to get the planning application / appeal / enquiry etc... through??

Probably wasn't serious ... TB won't be going into admin any time soon I think.

Much prefer to see the daft FFP rules changed

 

[fat old seagull]

Mmmm .... this thread is in danger of slipping away from its original question. As I'm pretty certain there is more chance of me being named a Prima Ballerina than Mr Tony going bust. He's not just wealthy he's smart too. Thankfully.

 

[El Presidente]

but surely if TB went bust... his creditors/administrators would have to sell his shares for whatever they could get?

And whoever bought them would have a shiny newish stadium and a club with great revenues and relatively little debt to deal with??

Even with no interest being charged on the debt and 26,000 a week attendances we lost £14.7 million.

 

[Titanic]

Even with no interest being charged on the debt and 26,000 a week attendances we lost £14.7 million.

But it will be a lot closer to £8m this year... and isn't the FFP target to reduce this further too?

 

[Bwian]

Even with no interest being charged on the debt and 26,000 a week attendances we lost £14.7 million.

Which makes many of us wonder how DK and Co. worked out that the club only needed attendances of 12000 to cover all of its costs? Including the player budget. As much as DK did for the club we are so unbelievably lucky to have Tony Bloom running the show now. We'd be like Leicester were when they moved away from Filbert Street and into the crisp bowl - always broke before the inevitable administration.

 

[El Presidente]

Which makes many of us wonder how DK and Co. worked out that the club only needed attendances of 12000 to cover all of its costs? Including the player budget. As much as DK did for the club we are so unbelievably lucky to have Tony Bloom running the show now. We'd be like Leicester were when they moved away from Filbert Street and into the crisp bowl - always broke before the inevitable administration.

I did the sums at the time and said that even with a £50m stadium funded 40% by grants that the numbers didn't stack up, but no one believed me and said I was shit stirring.

 

[seagullsovergrimsby]

I did the sums at the time and said that even with a £50m stadium funded 40% by grants that the numbers didn't stack up, but no one believed me and said I was shit stirring.

Did Dick Knight get a mortgage quote from Uncle Spielberg How much would the monthly repayments be on a £30M mortgage over 25 years ?

 

[El Presidente]

Did Dick Knight get a mortgage quote from Uncle Spielberg How much would the monthly repayments be on a £30M mortgage over 25 years ?

At 6% it would be £193,000 a month.