elliott bennett to norwich?

[NorwichLeJuge]

So it is still going to take the club 12 years to repay a loan taken out to pay for its new stadium? And you don't know how much you are going to be repaying each year?

Yet you will have more financial muscle than poor little Norwich who have to sell a car park, despite Norwich not having £8.3m a year for 12 years to stump up? Is there anybody here who can help me get my head around this? That is a mammoth debt, how can you be sure that this man (a gambler and property developer) has your best interests at heart? Other than the fact that he was born in Brighton?

I mean, the current Ipswich Town owner is screwing them, and happened to grow up in Norfolk as a Norwich City fan. What is the minimum that Brighton have to pay back each year? Can you be certain that there isn't a minimum payment? And what if you default? Tony Bloom takes 10 years worth of payments, and then turns it into houses?

I will settle for our little super cook and our small scale land deals, thanks We already own our ground, and it already holds way over 22,500, with potential to extend to 35,000.

 

[mike79]

Our current turnover has nothing at all to do with the future, we have already exceeded that before the next starts so afraid no comparison. We do not pay a penny for our stadium until 2023/5 and then and only then we either begin to pay for it or the loan is to be transferred into shares, which the chairman has stated he expects to be.

The point I'm making is whilst you may be able to raise capital to purchase a player, we are also in that position, and if we wanted we could also pay a large salary but as the club is run on a prudent basis and does not wish to carry the burden of debt we do not, unlike many clubs who exploit the rules and are therefore in false positions.

I do question though, some Norwich fans are quick to say how many season tickets you sell and that you are close to capacity etc etc but you are still running at a debt, therefore you are living beyond your means. Is this a gamble for promotion and if you fail, here comes administration?

no we've done a fair bit of restructuring in the last year or so and the main aim this season was to stay in the division

isn't nearly every club in debt anyway?

 

[NorwichLeJuge]

Our current turnover has nothing at all to do with the future, we have already exceeded that before the next starts so afraid no comparison. We do not pay a penny for our stadium until 2023/5 and then and only then we either begin to pay for it or the loan is to be transferred into shares, which the chairman has stated he expects to be.

The point I'm making is whilst you may be able to raise capital to purchase a player, we are also in that position, and if we wanted we could also pay a large salary but as the club is run on a prudent basis and does not wish to carry the burden of debt we do not, unlike many clubs who exploit the rules and are therefore in false positions.

I do question though, some Norwich fans are quick to say how many season tickets you sell and that you are close to capacity etc etc but you are still running at a debt, therefore you are living beyond your means. Is this a gamble for promotion and if you fail, here comes administration?

Why are Brighton fans contradicting each other? I have one of you stating that it has to be repaid BY 2023 and another states AFTER 2023. Do you even know what the loan terms and conditions are? I mean, whats the risk? Under what circumstances would you lose the stadium?

 

[Simster]

There is a TRAMP in Redhill who wears Norwich City stuff - a hat and an old home shirt.

Sorry, carry on.

 

[dreaming spires]

You will learn very quickly Mr.Norwich, that, according to any brighton fan, there is no club bigger in the world, making more money, than bha. So far up their own bums are they. Trying to get anything different out of them is impossible.

They also believe they have a devine right to be begged to go into the Premier league.

But yes, back in the real world in plain English, however they like to dress it up, their chairman has loaned them the money for the stadium, and like other chairmen, if his business goes tits up he can call the loan in, as with most loans.............Now prepare for the usual abuse or fairy story replies.

 

[Alex Alex Dawson oo! oo!]

Sorry, where does this £4m-5m turnover come from?

From the last set of published accounts (2008/9); turnover is stated as £4.14M.

What's he going to do otherwise? Knock the stadium down and take it home with him?

Selling the Stadium (ie the Stadium Company) to someone else would be an option n'est ce pas?

 

[mike79]

You will learn very quickly Mr.Norwich, that, according to any brighton fan, there is no club bigger in the world, making more money, than bha. So far up their own bums are they. Trying to get anything different out of them is impossible.

They also believe they have a devine right to be begged to go into the Premier league.

But yes, back in the real world in plain English, however they like to dress it up, their chairman has loaned them the money for the stadium, and like other chairmen, if his business goes tits up he can call the loan in, as with most loans.............Now prepare for the usual abuse or fairy story replies.

but how does he call the loan in?

hardly got 90 million worth of saleable assets

 

[Titanic]

...But yes, back in the real world in plain English, however they like to dress it up, their chairman has loaned them the money for the stadium, and like other chairmen, if his business goes tits up he can call the loan in, as with most loans.............Now prepare for the usual abuse or fairy story replies.

Tony Bloom's loans are reportedly interest free and unsecured.

 

[NorwichLeJuge]

no we've done a fair bit of restructuring in the last year or so and the main aim this season was to stay in the division

isn't nearly every club in debt anyway?

We also McNally's 5 year plan to be entirely debt free within 5 years, the car park sale forms one stage of that plan, reducing the debt by £2.5m. What most of these Brighton fans fail to understand is that a huge slice of OUR debt is also owned to Delia and Michael Wynn Jones, our bank debt is far below £10m, and the car park sale is being used to end a relationship with one bank entirely.

 

[Simster]

You will learn very quickly Mr.Norwich, that, according to any brighton fan, there is no club bigger in the world, making more money, than bha. So far up their own bums are they. Trying to get anything different out of them is impossible.

They also believe they have a devine right to be begged to go into the Premier league.

But yes, back in the real world in plain English, however they like to dress it up, their chairman has loaned them the money for the stadium, and like other chairmen, if his business goes tits up he can call the loan in, as with most loans.............Now prepare for the usual abuse or fairy story replies.

This is a thread for fans of proper football clubs. Now f*** off back to your shoebox thing you two bob twat.

 

[d0mj4y]

Our current turnover has nothing at all to do with the future, we have already exceeded that before the next starts so afraid no comparison. We do not pay a penny for our stadium until 2023/5 and then and only then we either begin to pay for it or the loan is to be transferred into shares, which the chairman has stated he expects to be.

The point I'm making is whilst you may be able to raise capital to purchase a player, we are also in that position, and if we wanted we could also pay a large salary but as the club is run on a prudent basis and does not wish to carry the burden of debt we do not, unlike many clubs who exploit the rules and are therefore in false positions.

I do question though, some Norwich fans are quick to say how many season tickets you sell and that you are close to capacity etc etc but you are still running at a debt, therefore you are living beyond your means. Is this a gamble for promotion and if you fail, here comes administration?

I'm not going to begrudge you it, but without your chairman where exactly would you be? I think most clubs would be able to do something pretty special with an injection of nigh-on £100m, alas we're not all in such a privileged position.

I would have hoped that, coming from a club in the currently lower leagues and starved of success for a number of years, you'd be a bit more humble about what you've had bestown upon you!

Our debt is there from expanding our own stadium throughout the years, along with a relatively poor business model under the last regime, which thankfully is being addressed by our new board and chief executive. FWIW, our chairman has predicted a profit in our next set of accounts so we won't actually be living beyond our means...

 

[PILTDOWN MAN]

Multi-millionaire property tycoon Tony Bloom took over the club on Monday and promised to pump more than £80 million into the club to finance the new Falmer stadium.

Mr Bloom moved to allay fears of fans worried the club is moving back to the dark days of one man having a majority stake.

He said: “When that stadium is actually built, the club's understandable concerns given what happened under Bill Archer, they all go.

“The holding group, where all the shares are held, own 100% of the community stadium and the football club.

“It's effectively one thing, but it's good practice to have those two entities as separate and hence we've done it that way.”

On Monday life-long Albion fan Bloom assumed the role of chairman after he converted £18 million worth of loans to the club into shares taking his holding to 75%.

He also pledged another £80 million to the club as unsecured interest-free loans repayable in 2023 with an option to convert them into further shares.

http://www.theargus.co.uk/news/4387862._I_m_no_Bill_Archer__says_new_Brighton_and_Hove_Albion_chairman/

NOTE repayable in not by

 

[dwayne]

Forget about who's the bigger club, who has more money etc....

....who the hell wants to live in Norwich. Nothing city in the middle of nowhere....

 

[upthealbion1970]

is that similar to how abramovic has done things?

Pretty sure abramovic had no historical ties to Chelsea, whereas Tony Bloom is from Brighton, his family have history being on the board at Brighton and he a lifelong Brighton supporter. He's not in it to turn a fast profit, he's trying to put us on a sound financial footing for the future by not strapping the club up with massive interest payments or an over inflated wage structure within.

So overall, no - nothing like it.

 

[clippedgull]

Tony Bloom's loans are reportedly interest free and unsecured.

That's FACT! The man said so himself at the fans forum.

 

[jonny.rainbow]

You will learn very quickly Mr.Norwich, that, according to any brighton fan, there is no club bigger in the world, making more money, than bha. So far up their own bums are they. Trying to get anything different out of them is impossible.

They also believe they have a devine right to be begged to go into the Premier league.

But yes, back in the real world in plain English, however they like to dress it up, their chairman has loaned them the money for the stadium, and like other chairmen, if his business goes tits up he can call the loan in, as with most loans.............Now prepare for the usual abuse or fairy story replies.

Yeh but to be fair at the fact that he built all FOUR stands suggests to me his intentions are far more honourable than some other Chairman.

 

[PILTDOWN MAN]

From the last set of published accounts (2008/9); turnover is stated as £4.14M.



Selling the Stadium (ie the Stadium Company) to someone else would be an option n'est ce pas?

And we made a profit!!

 

[Titanic]

... What most of these Brighton fans fail to understand is that a huge slice of OUR debt is also owned to Delia and Michael Wynn Jones, our bank debt is far below £10m...

You say that like any of 'these Brighton fans' give a shit about your club.

 

[The Large One]

We also McNally's 5 year plan to be entirely debt free within 5 years, the car park sale forms one stage of that plan, reducing the debt by £2.5m. What most of these Brighton fans fail to understand is that a huge slice of OUR debt is also owned to Delia and Michael Wynn Jones, our bank debt is far below £10m, and the car park sale is being used to end a relationship with one bank entirely.

The principle part of the plan being, one presumes, Norwich City's entry and stay in the Premiership.

What's Plan B?

 

[Alex Alex Dawson oo! oo!]

but how does he call the loan in?

Quite, the loan for the stadium is unsecured.