not really - rather tiresome to be honest...
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How are we funding Falmer?
- Thread starter goatcher1981
- Start date
not really - rather tiresome to be honest...
At a time when investment is proving hard to come by, Brighton have announced that full funding has been finalised for their £93 million stadium under construction at Falmer on the outskirts of the city. The majority of the funding is to be provided in the form of interest-free loans by Tony Bloom, the major investor, who is replacing Dick Knight as chairman of the League One club. Knight becomes life president after 12 years in charge
Although a power behind the scenes at Brighton, he has not been a board member until now. He has converted £18 million of loans to the club into a 75.61 percent shareholding, and the new loans, due to be repaid in 2023, could also be converted into shares.
Sorry - shoudl have said this was cut and pasted from the Times Online...
Although a power behind the scenes at Brighton, he has not been a board member until now. He has converted £18 million of loans to the club into a 75.61 percent shareholding, and the new loans, due to be repaid in 2023, could also be converted into shares.
Sorry - shoudl have said this was cut and pasted from the Times Online...
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A loan. So we are massively in debt. No-one worried about that?
Well its hardly going to start a global crisis again is it...
Silent Bob
( ͡° ͜ʖ ͡°)
- Dec 6, 2004
- 22,172
Since the loans are unsecured, no, not really.
Also he's said he doesn't expect any of that money back, I can't remember where or I'd post a link.
Colossal Squid
Returning video tapes
Well it was always going to be a loan. Just instead of coming from the crooked banks who would have raped us with interest it has come from a wealthy fan who's interest is in football and not making a profit.
The fact the loan is interest free is MASSIVE if you ask me. Just look at the interest payments being made by the biggest clubs in the country at the moment
Bwian
Kiss my (_!_)
- Jul 14, 2003
- 15,898
And the original planned bank loan left us debt free? At least this loan is interest free and unlikely to be called in by TB.
Scoffers
Well-known member
How else would we have financed the stadium? The difference with Tony Bloom providing the loan is that it is Interest Free. Know any other football club who managed to secure a state of the art stadium, and NOT get saddled with massive interest?
Bwian
Kiss my (_!_)
- Jul 14, 2003
- 15,898
I was trying to remember when he said that-possibly at the time of THE announcement? He definitely said it though.
not like he spent it on players now is it? 
Bwian
Kiss my (_!_)
- Jul 14, 2003
- 15,898
imagine if knight was still chairman
Imagine if Knight hadn't been chairman when he was most needed.
Rookie
Greetings
- Feb 8, 2005
- 12,324
+ the fact he is only likely to get that back if we are doing very well on the field so investment in the team will follow. Its all good
- Aug 8, 2005
- 27,709
imagine if knight was still chairman
We would be royally screwed. Certainly there would be no stadium.
imagine if knight was still chairman
if he'd had the money he would have...
Erm, whilst I agree with you all (just playing a bit of devil's advocate here) just because he says he doesn't want it back, doesn't mean that it won't happen. Have we really lost our critical functions to such a degree?
And whilst we are absolutely better off having the loans interest free, we are still massively in debt. We have about half the debt of someone like Fulham, but about a 20th (guess! but it's a lot, no?) of the revenue.
My ham-fisted point is - yes, Falmer is great and represents a massive opportunity for us, but let's not take our eyes off the risk, eh? Surely we've learnt that lesson.
And whilst we are absolutely better off having the loans interest free, we are still massively in debt. We have about half the debt of someone like Fulham, but about a 20th (guess! but it's a lot, no?) of the revenue.
My ham-fisted point is - yes, Falmer is great and represents a massive opportunity for us, but let's not take our eyes off the risk, eh? Surely we've learnt that lesson.