Dandyman
In London village.
Exclusive interview with Albion's new chairman From The Argus)
NEW chairman Tony Bloom has just taken the biggest punt of his life – by gambling on Albion being successful at Falmer.
The betting guru has now poured more than £80 million into the club to ensure the stadium project is not hit by the credit crunch.
The loans are unsecured and interest-free, which is unprecedented in the risky world of football.
Bloom was already a major shareholder but now the mega-rich businessman has joined the big league by saving the Seagulls’ stadium from the economic downturn.
Albion were struggling to attract support from banks and other financial institutions until Bloom upped his stake.
He said: “We did try. It was always the intention that I was going to put in a significant sum but we were unlucky with timing.
“The credit crisis hit as we were going to the banks. Although we spoke to about 15 banks and a few were interested, it is probably the worst time ever for them to be lending, even to profit-making businesses. To lend to a League One football club would have been very low on the list.
“We just got unlucky, so I’ve had to make a bigger commitment than I would ever have envisaged.
“The motivation for the amount of money is that it was what was needed to make Falmer happen and I am in the fortunate position of having the ability to do that. A lot of passionate Albion fans would do the same if they had the money.
“In terms of it being interest-free, I never even gave a moment’s thought to wanting to earn interest from the football club.
“Obviously, I have put a lot of money in and my main motivation is for success on the field and for the stadium to be built. That will bring a lot of financial security to Albion.”
Bloom could eventually be quids in if Albion flourish. He has already converted £18 million into a majority shareholding of more than 75%.
That shareholding could increase in the future but, as the lifelong Seagulls fan knows only too well, success on the pitch cannot be guaranteed. “In terms of the gamble, investments in my other businesses are one thing, this is very different,” Bloom said. “I go into it with my eyes wide open.
“I am not expecting to make a return on it – it’s not like a normal business investment.
“Saying that, we will do everything possible to get as much success as we can. The medium-term goal is to at least to break even, if not to be a profitable club. You would be mad to invest in a football club to make a fast buck, or even a slow buck, but it’s important to us all that we do as well as we can, both on the pitch and financially.”
So, who is Tony Bloom?
THE arrival of Tony Bloom, right, as Albion’s new chairman has been on the cards for some time.
The former professional poker player has been a fan of the team since he was eight.
His passion for the club was stoked by childhood trips to matches with his late grandfather Harry, who was at that time the club’s vice-chairman.
The 39-year-old considers his exploits on the poker table as a hobby, even though he is highly-talented and has won about $1.5 million in professional tournaments.
His nickname on the circuit is The Lizard, an alias acquired from an old friend who claimed he had alligator blood. In January he won almost £300,000 for coming second in the High Rollers Challenge, event 8 of the Australian Poker Millions tournament held in Melbourne.
But it is his background in football gambling that has proved most lucrative for Bloom and casts him as a safe bet to get the Seagulls soaring again.
He set up online betting company Premierbet in 2002, selling it on three years later.
The University of Manchester maths graduate has built up his fortune through developing a property empire at home and abroad and investing in up-andcoming businesses. He owns commercial and residential sites across the world, including land as far afield as South Africa, Australia and Panama.
Bloom first hit The Argus headlines in May 2006 when we revealed he was behind the bid to oust then manager Mark McGhee. Now the club’s major shareholder, he is one of several Blooms to play a key role in the club. His uncle Ray – his grandfather’s eldest son – has been a board member and minority shareholder for most of the past 25 years.
Bloom currently divides his time between England and Melbourne with his Australian wife and their baby son but his fervour for the team is not dulled by distance. When he is abroad he watches Albion’s games online.
In his only previous Argus interview, only days after we announced his involvement with the club, Bloom said he was keen to help finance the Seagulls but would not comment on whether he wanted to join the board.
He said: “I’m prepared to support the club financially but I wouldn’t want to commit to amounts at this point.
Everything I’ve always done has been in the best interest of the club and that will continue in the future.
“At the end of the day, I’ve shown my feelings for the club and the way I am willing to help the club by what I’ve done financially.”
NEW chairman Tony Bloom has just taken the biggest punt of his life – by gambling on Albion being successful at Falmer.
The betting guru has now poured more than £80 million into the club to ensure the stadium project is not hit by the credit crunch.
The loans are unsecured and interest-free, which is unprecedented in the risky world of football.
Bloom was already a major shareholder but now the mega-rich businessman has joined the big league by saving the Seagulls’ stadium from the economic downturn.
Albion were struggling to attract support from banks and other financial institutions until Bloom upped his stake.
He said: “We did try. It was always the intention that I was going to put in a significant sum but we were unlucky with timing.
“The credit crisis hit as we were going to the banks. Although we spoke to about 15 banks and a few were interested, it is probably the worst time ever for them to be lending, even to profit-making businesses. To lend to a League One football club would have been very low on the list.
“We just got unlucky, so I’ve had to make a bigger commitment than I would ever have envisaged.
“The motivation for the amount of money is that it was what was needed to make Falmer happen and I am in the fortunate position of having the ability to do that. A lot of passionate Albion fans would do the same if they had the money.
“In terms of it being interest-free, I never even gave a moment’s thought to wanting to earn interest from the football club.
“Obviously, I have put a lot of money in and my main motivation is for success on the field and for the stadium to be built. That will bring a lot of financial security to Albion.”
Bloom could eventually be quids in if Albion flourish. He has already converted £18 million into a majority shareholding of more than 75%.
That shareholding could increase in the future but, as the lifelong Seagulls fan knows only too well, success on the pitch cannot be guaranteed. “In terms of the gamble, investments in my other businesses are one thing, this is very different,” Bloom said. “I go into it with my eyes wide open.
“I am not expecting to make a return on it – it’s not like a normal business investment.
“Saying that, we will do everything possible to get as much success as we can. The medium-term goal is to at least to break even, if not to be a profitable club. You would be mad to invest in a football club to make a fast buck, or even a slow buck, but it’s important to us all that we do as well as we can, both on the pitch and financially.”
So, who is Tony Bloom?
THE arrival of Tony Bloom, right, as Albion’s new chairman has been on the cards for some time.
The former professional poker player has been a fan of the team since he was eight.
His passion for the club was stoked by childhood trips to matches with his late grandfather Harry, who was at that time the club’s vice-chairman.
The 39-year-old considers his exploits on the poker table as a hobby, even though he is highly-talented and has won about $1.5 million in professional tournaments.
His nickname on the circuit is The Lizard, an alias acquired from an old friend who claimed he had alligator blood. In January he won almost £300,000 for coming second in the High Rollers Challenge, event 8 of the Australian Poker Millions tournament held in Melbourne.
But it is his background in football gambling that has proved most lucrative for Bloom and casts him as a safe bet to get the Seagulls soaring again.
He set up online betting company Premierbet in 2002, selling it on three years later.
The University of Manchester maths graduate has built up his fortune through developing a property empire at home and abroad and investing in up-andcoming businesses. He owns commercial and residential sites across the world, including land as far afield as South Africa, Australia and Panama.
Bloom first hit The Argus headlines in May 2006 when we revealed he was behind the bid to oust then manager Mark McGhee. Now the club’s major shareholder, he is one of several Blooms to play a key role in the club. His uncle Ray – his grandfather’s eldest son – has been a board member and minority shareholder for most of the past 25 years.
Bloom currently divides his time between England and Melbourne with his Australian wife and their baby son but his fervour for the team is not dulled by distance. When he is abroad he watches Albion’s games online.
In his only previous Argus interview, only days after we announced his involvement with the club, Bloom said he was keen to help finance the Seagulls but would not comment on whether he wanted to join the board.
He said: “I’m prepared to support the club financially but I wouldn’t want to commit to amounts at this point.
Everything I’ve always done has been in the best interest of the club and that will continue in the future.
“At the end of the day, I’ve shown my feelings for the club and the way I am willing to help the club by what I’ve done financially.”
