How have Brighton paid for the new stadium and academy ?

FinchleyEagle · Feb 20, 2013

Genuinely interested.

One of you stated it was a £29m academy in another post, and I was lambasted (rather lamely I thought) for going off topic, but I guess the Amex cost way more than that, so both together thats a shitload of cash, and my understanding is that you went bankrupt in 1997 and lost the Goldstone (happy to be corrected here if not so) and then were at the Withdean, which are not the environs of a cash rich club I would say.

So is it a benefactor a la Abramovich, a shedload of debt (this would explain losing £8m a year ??) or something else ?

Not taking the piss at all, just wondered how you did it, because we could certainly do with some of that !!

Cheers

Wozza · Feb 20, 2013

We've never gone bankrupt/into admin.

We're bankrolled by a rich local businessman, whose family has been on the board since the 70s. :thumbsup:

We're not really losing £8m a season. *cough*

Thanks for your interest in the super Seagulls.

gazingdown · Feb 20, 2013

Tony Bloom, lifelong fan with family history in club.

Interest free loan that converts to shares if not paid back by 2020 (I think?)

Superphil · Feb 20, 2013

Your understanding is wrong, the club didn't go bankrupt.

There is a wealthy owner now, who has paid for the ground and training ground on a long term interest free loan.

Beach Hut · Feb 20, 2013

Basically we are considerably richer than you

Weststander · Feb 20, 2013

gazingdown said:
Tony Bloom, lifelong fan with family history in club.

Interest free loan that converts to shares if not paid back by 2020 (I think?)

That's correct.

And he bankrolled most of the Withdean losses, and current Amex losses by the same loan.

No external interest bearing debt.

Willy Dangle · Feb 20, 2013

Put simply our chairman and his family have been life long fans, yes he is very wealthy and he put up his own cash. Yes BHA owe him the money but he expects that to remain the case long after he has gone. There is no repayment plan. Yes you would like some of that but you can't have it. Needless to say he is a businessman and views it as a long term family investment.

No we didn't go bankrupt, never have done.

See you on the way past.......

Barrel of Fun · Feb 20, 2013

As far as I am aware, the only person to have anything written off was Bill Archer when he signed over his share (49.5%) of the club. How much he made from the eventual sale/redevelopment of the Goldstone and interest/fines on the loans he engineered is anyones guess.

I'm not sure building infrastructure to secure the future of the club could be described as 'a la Abramovich'. If you are referring to the losses, then that covers over 90% of the professional clubs.

Weststander · Feb 20, 2013

Beach Hut said:
Basically we are considerably richer than you

Parrish and his 3 mates might have £30m each to do the same?

nomoremithras4me · Feb 20, 2013

Tony won the Euromillions three weeks running & the Australian state on the forth week! Been saving for a while

Mackenzie · Feb 20, 2013

Barrel of Fun said:
As far as I am aware, the only person to have anything written off was Bill Archer when he signed over his share (49.5%) of the club. How much he made from the eventual sale/redevelopment of the Goldstone and interest/fines on the loans he engineered is anyones guess.

I'm not sure building infrastructure to secure the future of the club could be described as 'a la Abramovich'. If you are referring to the losses, then that covers over 90% of the professional clubs.

Bill Archer didn't do too badly out of it either, bought the club for £50 sold the ground for £7m.

fosters headband · Feb 20, 2013

Weststander said:
Parrish and his 3 mates might have £30m each to do the same?

They have £15 million from summer and January transfer sales, I wonder where that has gone?

Curious Orange · Feb 20, 2013

That interest free loan from Tony for building the ground... its unsecured. Thats important that is.

Sheebo · Feb 20, 2013

The 8 million thing has been jumped on by many palace on here who don't understand the way we're running. I'm sure BLOOM was well aware of the outgoings and is a shrewd enough businessman to know what he's doing. Our aim to meet FFP is to reduce that loss to . 5million. We wouldn't have just signed a 2mil striker or tried to sign a 2mil defender if there was any danger. Not all football clubs are run as poorly as many of the recent administration cheats..

beorhthelm · Feb 20, 2013

i am taking the piss when i suggest the OP ought to concern themselves with how long the current CP owners will sustain the club, they wont invest in the acedemy (despite its success) and wont invest in the stadium (how long till a stand is condemned?).

TSB · Feb 20, 2013

fosters headband said:
They have £15 million from summer and January transfer sales, I wonder where that has gone?

'Undisclosed' fee for Dobbie?

Thunder Bolt · Feb 20, 2013

Curious Orange said:
That interest free loan from Tony for building the ground... its unsecured. Thats important that is.

It's also ring fenced. When the Southampton chairman died a couple of years ago, Tony was asked what would happen if the same thing happened to him. His said his family wouldn't be able or want to claim back his loan.

Acker79 · Feb 20, 2013

Weststander said:
Parrish and his 3 mates might have £30m each to do the same?

Reading Holloway's comments when he was appointed, it suggests they are only going to invest in a new stadium if they regularly fill selhurst.

Se20 · Feb 20, 2013

sheebo said:
The 8 million thing has been jumped on by many palace on here who don't understand the way we're running. I'm sure BLOOM was well aware of the outgoings and is a shrewd enough businessman to know what he's doing. Our aim to meet FFP is to reduce that loss to . 5million. We wouldn't have just signed a 2mil striker or tried to sign a 2mil defender if there was any danger. Not all football clubs are run as poorly as many of the recent administration cheats..

What I don't understand is a £8 mill shortfall for this season and next, especially on your turnover ?
I'm sure all will be revealed when the accounts are made public.

nomoremithras4me · Feb 20, 2013

Tony switched to the Halifax, including his direct debits!

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