Atilla The Stockbroker

[Common as Mook]

ooh spot the psycho babble - a thread about Mr Stockbroker and you pop up with your catty comments

I agree, I've only just noticed this and it's all a bit pathetic. It's a bit like your veiled digs on the Albion Roar threads as well. Do you have some deep seated issue with those who are close to the club?

 

[Dick Knights Mumm]

No, that's bollocks. Nobody is resentful because the Glazers can afford to 'own' the club.

Quite. And the "envy" argument is an easy, tired, unthinking opinion.

 

[Storer68]

You do understand that the Glazers are financing debt, don't you?

That'll be the debt that THEY saddled MUFC with.

All theirs, no one elses. MUFC were a very profitable organisation before the Glaziers jumped in. and, if you beleive, the Guardian, on Monday, its all fergie's fault!

Remember what happened the last time Ferguson's actions affected the club's ownership? It was in the early part of the decade, when just under 30% of the club's shares had fallen into the hands of the Irish horse-racing partnership of John Magnier and JP McManus, who got on so well with the United manager that he was presented with a half-share in one of their star horses, Rock of Gibraltar.

The Rock went on to win seven Group 1 races in a row, but it was when the horse was retired to stud that Ferguson suddenly discovered the limits to his Irish friends' idea of co-ownership, on being told that he was not entitled to a proportion of the horse's stud fees. The rupture led to the Irishmen selling their United shareholding to Malcolm Glazer, thus providing the American with the key to his total takeover of the club.

For United, the consequences were double-edged. In order to bring off the deal, the Glazers loaded a previously solvent club with £700m of debts; the consequent rise in season ticket prices fuelled the dissatisfaction which has grown into the current campaign against the American family.

 

[sten_super]

But Man Utd is no longer a plc as the Glazers took it back into private ownership. That's precisely why they're in the shit.

Spurs are a plc and well-run, mainly because they've got Daniel Levy in charge. His man-management might not be perfect (see Jol, Ramos) but he has a nose for a good deal.

But floating the club meant that it could ultimately be bought by whoever has the desire to do so (and, of course, the cash). If Martin Edwards had never floated the club he would have had the ability to veto anyone that wanted to buy him out if they didn't have the best interests of the club at heart.

I don't know that much about the ownership of Spurs but isn't there one company that is the majority share holder? I don't know whether they are in it for the love of Spurs or the returns that they get; if it's the latter, they could quite easily end up in exactly the same situation if anyone ever waves enough wonga in their faces.

 

[Storer68]

Out of interest. How exactly has Falmer been financed? Sorry to be ignorant, but I know TB has saved the day, but how exactly? Has he loaned the money to the club?

League One has found its Roman Abramovich with the internet gambling entrepreneur Tony Bloom's injection of £80m into Brighton and Hove Albion. But while the investment follows the Abramovich model of a huge interest-free loan, almost all of it will be absorbed by the club's new Falmer Stadium, the cost of which has soared to £93m.

Bloom, a successful high-stakes poker player, takes over as chairman from Dick Knight, who is credited with saving the club from extinction when the Goldstone Ground closed in 1997. Knight's successor has taken a punt on Brighton becoming a Premier League club in the next five to 10 years – the only way he can hope to recoup his vast outlay on the new arena.

Finance for the new site, adjacent to Sussex University, was proving harder to come by than the sight of earth-movers and road-widening would have suggested to the club's hard-pressed supporters. Martin Perry, the chief executive in charge of the construction, told the Brighton Argus: "We would not have the stadium without him [Bloom]."

Nicknamed "The Lizard", because he was said by one rival to have "alligator blood" at the poker table, Bloom has raised his stake in the club to 75%, with Knight's falling to 6.42%.

The new chairman made his fortune by selling the online gambling firm *Premierbet in 2002. He is known to have wanted the role of chairman in return for his unsecured loan. Bloom said: "The credit crisis hit as we were going to the banks. We just got unlucky, so I've had to make a bigger commitment than I would have envisaged." Stadium construction costs are £66m, with the rest going *on associated legal, refurbishment and acquisition fees.

Knight's supporters will feel he was ousted before he had the chance to lead the club to Falmer as chairman. "It's one of the saddest days of my life because being the chairman of the Albion has been the most rewarding period of my life," he said. "This is the natural progression for the football club."

Bloom, who divides his time between Sussex and Melbourne, said of Knight, who will remain as the club's life president: "Nobody should be in any doubt that he saved the club from almost certain extinction at a time when no one else was willing to come forward."

Brighton, which was once described by Keith Waterhouse as "a town that looks like it's helping police with their inquiries", will feel the Seagulls are back on the map after 13 years in temporary accommodation and constant uncertainty about Falmer. But unlike Abramovich and Chelsea, Bloom's money will mostly be spent on girders and concrete.

 

[CHAPPERS]

.

Our Chairman is an absolute BADMAN.

 

[Barrel of Fun]

Right, sorry. Sort of...

Football is in a bad way. Clubs should not be owned by a single individual but by the fans and the community in which they sit.

(Which is the complete opposite to our own club)

Excellent, thank you.

As has been said, it is a nice ideal, but I can't see it happening.

Theoretically, we do own 'shares' in the club by paying £400+ for a season ticket. Falmer would be a decent acid test of how many people will be willing to buy a season ticket, but would people be willing to pay more to own the club?

 

[Beach Hut]

ooh spot the psycho babble - a thread about Mr Stockbroker and you pop up with your catty comments

 

[Beach Hut]

I agree, I've only just noticed this and it's all a bit pathetic. It's a bit like your veiled digs on the Albion Roar threads as well. Do you have some deep seated issue with those who are close to the club?

I like the Albion Roar as a format just think it needs to take heed of the relevant guests at times.

Download it every week

 

[Hungry Joe]

Very interesting thread (unnecessary personal digs aside).

There is a world of difference between a wealthy fan running your club and some of the other rich owners mentioned. I've long been a fan of wealthy Philanthropists being involved in football for two simple reasons; firstly they will have the best interest of the club at heart and secondly it works. I believe in Tony Bloom we have exactly such a person and that we are exceedingly lucky to have him. Mind you we deserve the luck after all that has gone on in recent years.

 

[Pavilionaire]

But floating the club meant that it could ultimately be bought by whoever has the desire to do so (and, of course, the cash). If Martin Edwards had never floated the club he would have had the ability to veto anyone that wanted to buy him out if they didn't have the best interests of the club at heart.

I don't know that much about the ownership of Spurs but isn't there one company that is the majority share holder? I don't know whether they are in it for the love of Spurs or the returns that they get; if it's the latter, they could quite easily end up in exactly the same situation if anyone ever waves enough wonga in their faces.

Spurs are owned by ENIC and Daniel Levy is an ENIC fixer. Financially, Levy has taken Spurs as far as it is possible for a club with their stadium capacity to go. Everton get larger average gates but aren't in the same league when it comes to transfer targets.

It's been suggested that once planning permission is achieved for the new £56K stadium ENIC will look to cash in their chips. They'll be selling a club in pretty good shape, although it's all about where the £250mill to build the new stadium will come from.

When you're talking about fans co-operatives I can't see how this works in terms of delivering a £250mill stadium. The fans have enough trouble paying for season tickets, merchandise and Sky without further expenditure.

 

[xenophon]

I much prefer this Catweazle, the only reason I watched wrestling as a nipper, forget Shirley Crabtree and that stereo-rod freak Hulk Hogan. Catweazle was a bona-fide loon.

 

[The Large One]

I like the Albion Roar as a format just think it needs to take heed of the relevant guests at times

Whatever that means.

 

[Hungry Joe]

Mr.Hut does seem to have a rather large chip on his shoulder about something. I haven't been able to work out exactly what yet either.

 

[perseus]

Blue Lizard

Right, sorry. Sort of...

Football is in a bad way. Clubs should not be owned by a single individual but by the fans and the community in which they sit.

(Which is the complete opposite to our own club)

Exactly.

 

[beorhthelm]

All theirs, no one elses. MUFC were a very profitable organisation before the Glaziers jumped in. and, if you beleive, the Guardian, on Monday, its all fergie's fault!

"...For United, the consequences were double-edged. In order to bring off the deal, the Glazers loaded a previously solvent club with £700m of debts; ..."

point to note, they are still very profitable, they now just pay a wedge of interest to the bank (so "operating profit" comes into the vernacular). i like the loaded part of the Guardian, ManU is still very solvent, simply having debt does not makes a company insolvent as they imply.

 

[Gwylan]

It's been suggested that once planning permission is achieved for the new £56K stadium ENIC will look to cash in their chips. They'll be selling a club in pretty good shape, although it's all about where the £250mill to build the new stadium will come from.

When you're talking about fans co-operatives I can't see how this works in terms of delivering a £250mill stadium. The fans have enough trouble paying for season tickets, merchandise and Sky without further expenditure.

How come the stadium cost goes from £56k to £250m within one sentence? Do you mean 56k seater?

£250m would be a big commitment from the fans. Even if 50,000 dipped into their pockets, that would be £5,000 each to own a share of the action, can't see many opting for that.

As a matter of interest, does anyone know why stadium costs are rocketing. Tony Bloom paid close to £90m when the original cost was supposed to be about £30m (I think) and now Spurs are looking to pay three times as much for a stadium just over twice the size (although that's probably London land value). I'd have thought that in a recession, labour costs would come down and financing is certainly cheaper but everything seems more expensive.

 

[glasfryn]

thank God for people like Atilla the Stockbroker and Tony Bloom without them and many others like them and the fantastic fans we have this club would be nothing


hats off to all

 

[eastlondonseagull]

Well said John, can we quote that verbatim and include it in the re-printed Build a Bonfire?

 

[Pavilionaire]

How come the stadium cost goes from £56k to £250m within one sentence? Do you mean 56k seater?

Yes. Excuse the slip - I'm an accountant, I deal with money figures all day.