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

[Beach Hut]

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

Cleaver

I'll be careful what I say to him next time when on the train travelling to an away game.

 

[Vegas Seagull]

He was worth £700m, it's now a bit less or a bit more don't worry

 

[Lord Bamber]

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!

Dont think that is a bad post WW. I dont agree with you on most things but this is a an out loud thought I think a lot of us have had, or should have, ignoring what answer we all come to.

 

[Gangsta]

I suppose yes, as all the time the debts are debts and havent been converted into equity, he could die, go mad or go bust and if he has creditors they will come after us (though he may have this covered - he's a smart guy).

I suppose I take every Albion day as a bonus since the dark days of 96, 97 etc. As the ground is now standing, the major hurdle to securing professional football in the city is now gone, as you can't really do much else with a football stadium but play football in it (maybe bit different if it was a prime city centre site but the redevelopment costs of the amex site to change useage would prevent it being knocked down and besides the council would never let it happen).

So bottom line is there will always be an Albion, or worst case scenario an AFC Brighton & Hove Albion playing in a modern stadum in the city. And if you'd offered me that in 96-97 I may well have taken it.

 

[Bean]

No.

Why? You seem so sure - anything you want to tell us?

 

[Arkwright]

You could have these fears for any company where there is a majority shareholder.

The Blooms have been linked with the Albion for decades it is not a speculative investment they have made in the club but one of a love for the club. Why invest if they had any concerns over the future of the club.

We aren't Doomed but we are Bloomed. Panic ye not!

 

[Brixtaan]

To play devils advocate for a moment it may be the case that building the Amex and everything else associated has completely cleaned him out. He might have properties left but no-one is buying property right now. If he is a billionaire then why did he let DK scrape and scrap and go begging to Brighton businesses for so many YEARS trying to keep the club afloat? He only came in at the last minute when the banking crisis jeopardized everything.

I hope someone points out that I'm an ill informed idiot.

 

[Tooting Gull]

Very fair point from OP.

I seem to remember some of the more sanctimonious types on here saying 'It was all Pompey fans' own fault' for enjoying the ride and not asking any awkward questions.

To be honest, I have no reason to be seriously worried about Bloom - but that isn't the point. This club's history, and recent events elsewhere, mean that he should not be irritated by reassuring people and being a little more transparent on the finances.

 

[Commander]

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 work with someone who is fairly close to him and who's family are long term friends of his family's. She sees him regularly and her brother is his best mate. She assures me he has 'Billions', and I can't really see any reason to disbelieve her.

 

[Bevendean Hillbilly]

This is why I love NSC

 

[pishhead]

Tony Bloom, for someone who is very candid about his wealth needs to have a word with his "close friends" or "associates" if this thread is to be believed, as a lot of people seem to know a lot about his finances!

 

[Thunder Bolt]

When the Southampton chairman died a few years ago, Bloom was asked at a Fans Forum, that if he died suddenly, would the stadium be safe. He said that the money was ring fenced and that his family wouldn't want anything back. He has stated that he would convert his ownership into shares if it wasn't paid back by 2023. He has also said the team had to be self financing but when we were looking at a mortgage we were told that the break even figure was an attendance of 12K. Do we have reason to question those stats? Our income from season tickets alone must exceed that. I'm not sure how much the catering makes the club but it must be a reasonable figure. The shop sales seem to have gone through the roof as has sponsorship.
[MENTION=212]Brixtaan[/MENTION], Bloom didn't want to take over the club until the planning permission was completed but was putting money in before that.

 

[Brixtaan]

I work with someone who is fairly close to him and who's family are long term friends of his family's. She sees him regularly and her brother is his best mate. She assures me he has 'Billions', and I can't really see any reason to disbelieve her.

I'll take that from you Commander, the spring returned to my step.

 

[Bevendean Hillbilly]

Tony Bloom, for someone who is very candid about his wealth needs to have a word with his "close friends" or "associates" if this thread is to be believed, as a lot of people seem to know a lot about his finances!

He is a billionaire. I know because I have a mate on the bins in Golders Green and he saw Tonys P60 from 2011.

FACT

 

[Seagull over Canaryland]

Bloom's absence from the Sunday Times rich list isn't too worrying. Should be more concerned that 2 weeks ago in the 'Sporting rich list' they were still showing Archer and Stanley as our financial backers. At first glance reading that it made me shudder but then quickly concluded that I couldn't trust the rest of the list - what shoddy journalism.

 

[Bevendean Hillbilly]

Bloom's absence from the Sunday Times rich list isn't too worrying. Should be more concerned that 2 weeks ago in the 'Sporting rich list' they were still showing Archer and Stanley as our financial backers. At first glance reading that it made me shudder but then quickly concluded that I couldn't trust the rest of the list - what shoddy journalism.

Mate. You live in Norfolk...they still point at aeroplanes round your way...getting papers from the 1990s seems about right.

 

[pishhead]

He is a billionaire. I know because I have a mate on the bins in Golders Green and he saw Tonys P60 from 2011.

FACT

Well my aunt is the leading authority on reptiles in the South east, she told me that Tony Bloom breeds lizards (it's where his nickname comes from) and he's made a squillion pound from it.

 

[Working class pride]

I expect that T Bloom keeps the investment for the ground as a book debt for the usual tax advantages. If the money was invested as equity then the income of the club would be liable to corporation tax and any dividend from the club liable to CGT. If however it is a debt, then revenue from the club is set off against that debt. This is just speculation but it would be standard. The reality is that the debt is stapled with the equity stake and so the debt is in fact just a book keeping entry to save the club and TB from paying HMRC a fortune who in turn will spend on long teachers holidays. Paul S as an accountant would probably be able to confirm.

 

[Mellotron]

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've NEVER played the "source" card on NSC before, but in this case the source is incredibly reliable, and this source suggested at the time (Summer 2011) that Bloom had recently made either his 3rd or 4th Billion (I genuinely cannot remember which it was out of the two).

Everyone who is "in the know" always says that Tony's wealth has been massively played down, with good reason. He is a very, very, very, very wealthy man.

Anyone who spunks away over HALF their fortune is a either a terrible businessman, or very reckless. Tony Bloom is FAR from a terrible or reckless businessman.

 

[Lord Bracknell]

I hope someone points out that I'm an ill informed idiot.

Thing is ... we are ALL ill-informed.

I'm not aware of any (even vague) statements or sources that confirm what his assets actually are.