Really worried about Falmer finance now

[Giraffe]

I work for a company that regularly raises finance for a variety of reasons, and projects. We never have a problem doing this and even in the current economic climate are considered a very safe bet.

However today our bank have told us they are no longer offering finance, not just to us but anyone. Basically it wouldn't matter what we did the finance would not be available.

We are a safe bet. Arguably a football club is not. Yes they will have an income generating asset once completed but its not exactly something a bank could easily sell if repayments were not forthcoming.

Basically I believe the whole one year delay thing is in preparation for not being able to CURRENTLY raise the funds. Unless a private investor stumps up all or a large part of the cost there is no way they will finance it in the current climate.

I am not normally scaremongerer and up to now believed finance of the stadium would not be a problem but sadly the world is a very different place now and thanks to Lewes District Council the club are trying to raise finance at probably the worst time in financing history.

It doesn't mean it won't be built but can't see how they can raise the finance through banks for some while. This may change in the new year or they may have a significant private investor waiting in the wings, but if not then don't expect the financing to be announced anytime soon.

 

[algie]

Why would the directors keep pumping millions in to keep the club afloat year in year out?

 

[Giraffe]

Why would the directors keep pumping millions in to keep the club afloat year in year out?

Eh?

 

[Bozza]

Have I missed something - what 1 year delay thing?

 

[Giraffe]

Have I missed something - what 1 year delay thing?

Did I dream it? or did they delay the build date by a year recently??

 

[Tom Hark Preston Park]

Did I dream it? or did they delay the build date by a year recently??

They delayed the opening date by half a season if that's what you mean.

 

[The Large One]

Did I dream it? or did they delay the build date by a year recently??

Nope.

They delayed the OPENING by a year. The commencement of works has been delayed about five months from the original estimate, in order to get the relevant planning applications through.

 

[Giraffe]

Nope.

They delayed the OPENING by a year. The commencement of works has been delayed about five months from the original estimate, in order to get the relevant planning applications through.

Okay sorry that's what I meant.

 

[sir albion]

Why would the directors keep pumping millions in to keep the club afloat year in year out?

Have you seen our debts?the board don't put that much in
If anything i wouldn't be surprised if the bank came knocking on our door for larger repayments

 

[Lord Bracknell]

Have you seen our debts?the board don't put that much in
If anything i wouldn't be surprised if the bank came knocking on our door for larger repayments

The debts are mostly sums of money that the Club has been lent by the directors.

In other words ... it's the directors who have been pumping millions into the Club, not the banks.

And it's the directors who aren't knocking on the door asking for their money back.

 

[Seagullible]

am I right in thinking that some people ie Norman CCooke, pumped money in in turn for privileges such as parking at withdean?

 

[dougdeep]

am I right in thinking that some people ie Norman CCooke, pumped money in in turn for privileges such as parking at withdean?

Yes, yes you are.

 

[Nemesis]

am I right in thinking that some people ie Norman CCooke, pumped money in in turn for privileges such as parking at withdean?

He's a mug...turn up before 11, premium parking spaces always available

 

[1067Seagull]

Have you seen our debts?the board don't put that much in
If anything i wouldn't be surprised if the bank came knocking on our door for larger repayments

Adrie tells me you a moniey fuckwitt

 

[SICKASAGULL]

How can anybody believe that in the present financial situation that Falmer will go ahead,daily we are advised of projects throughout the country are being put back or dropped because banks are very wary of who they lend to,the few projects that are being progressed require much higher deposits.
Put yourself in the banks position,The Albion want £millions in loans and must average 13000 gates just to pay back the loan,our present gates are half that and without the additional cash to buy players we are more than likely to still be in Div 1. so how much would you risk on this scheme?
If you are still in doubt todays news that the King Alfred re-development has been dropped which was by far a much better proposal as it had many flats to support it,should make your decision very easy. Its a great pity but thats it.

 

[steward 433]

How can anybody believe that in the present financial situation that Falmer will go ahead,daily we are advised of projects throughout the country are being put back or dropped because banks are very wary of who they lend to,the few projects that are being progressed require much higher deposits.
Put yourself in the banks position,The Albion want £millions in loans and must average 13000 gates just to pay back the loan,our present gates are half that and without the additional cash to buy players we are more than likely to still be in Div 1. so how much would you risk on this scheme?
If you are still in doubt todays news that the King Alfred re-development has been dropped which was by far a much better proposal as it had many flats to support it,should make your decision very easy. Its a great pity but thats it.

How the f*** do you make out housing which has seen the biggest decline is a more viable option than education which has the highest upturn in the market?

MP certainly knew what he was doing when the extra space was given over to the Unis and College use.

 

[Nottseagull]

The Government has ploughed billions into the banks precisely so that job-creating projects like this can go ahead unhindered. So what is the problem? Are you saying the banks will refuse to lend this money and that we can't take advantage of the new low base rate?

 

[Was not Was]

Well, the current financial situation can't have made things easier for the club. Harder surely to raise the finances, but beyond that it's just speculation. I'm not losing any sleep over it because (1) the diggers are at Falmer and (2) what good would it do?

Wait and see ...

 

[Herr Tubthumper]

Martin Perry recently said all the financial stuff will be sorted by the end of the year. Let's give him until then. If he still fails to respond to questions about money maybe then is the time to worry.

 

[vitusvivi]

The directors aren't that rich...