So exactly where is all this money coming from?

[Cheshire Cat]

So, based on the majority of posts above - no-one has a clue so we all need to have faith....... but if this all comes unstuck and we have a poor 2011/12 season? (see also the initial hype surrounding the second comings of Mr Mullary and Mr Adams - different circumstances admittedly).

Has anyone seen a copy of the company accounts recently?

This isn't negativity, just cold hard realism. I have also supported the club for a number of decades, through one or two ups but rather more downs - which is why I remain rather cynical about all of this.

Let the good times roll....

 

[trueblue]

I've no idea whether or not Tony Bloom is a billionaire. However, I have heard several stories in the past that as well as his own wealth he has several seriously, stinking rich friends who also like football. Maybe they're involved too - who knows? And who cares (provided we are not spending beyond our means)....

 

[SeagullEd]

I really strongly feel that no-one should be viewed negatively because they question our finances. In fact, I think this question has been raised is very important. We more than most know the cost of not questioning etc. We need to be entirely sure.

I don't think it has got excessive yet; the revenues (as people say) are vastly up and we've 'only' spent £2.5 million more than we've got in transfer revenue as of yet.

I would question peoples assertions that Bloom is going to make no return. I don't think that he will necessarily recover all of his money but he was putting in money before so a pure investment buying the club might turn out not to be a bad investment. He's provided interest free loands for the stadium and say the clubs sells in a couple of years for I dunno £80 million or whatever hes probably actually made a return.

 

[Seagull over Canaryland]

Albion fan for 45 years too (well done north stand steve). For me the recent events (including todays news) are right up there with promotion to the old 1st Div and getting to the Cup Final. The recent stuff probably shades it 'cos we probably should have gone out of business years ago and still amazes me how we survived the dark days.

I am a glass half full man and feel so optimistic for the future. I have faith in Tony Bloom because he is a true fan and from a 3rd generation Albion family.

I guess there remains a tiny bit of concern deep inside me that we should never do anything to put us at risk of financial trouble ever again. Therefore it is a fair question to wonder where all the money has come from, especially as there is not much transparency at present? Albion fans of all people should never be afraid to ask the question. Maybe it is because almost overnight we have gone from the ridiculous to the sublime, spending £100m on a new stadium, attracted an inspirational manager, romped away as Lge 1 champs, rebuilt the squad having smashed the club transfer record twice in a month (including our first multi-million £ player) and maybe more players to come.........plus we are about to lay out £15m on a training complex and potentially lay out another few £m's to increase capacity at The Amex?

I cannot see the Bloom family doing anything that does not have a sound financial footing. I respect and admire their discrete business profile but suggest that inevitably this will lead to a question or two until the club's accounts show how financially sound we are in the Bloom era.

 

[DT Withdean]

There is a big difference between us and teams like Palace, Cardiff etc. They spent/are spending beyond their means. We're not.

Adult season tickets are between £400-£600, so let's make a generalisation and say the average ST price is £500 (i know this may not be the case)

With 18,000 STs sold, that's 9 million pounds. Just from season tickets.

Assuming we don't pay/pay very little of the stadium + training facilites, which Bloom has indicated, I'd say we're living well within our means.

And remember too 2,600 1901 members paid (excluding VAT to HMRC) £1,000 up front, then 60 months x £100 each.

 

[PILTDOWN MAN]

I know someone who, whilst not interested at all in football so there would be no need to big it up at all, who owns a highly regarded PI firm in the city. He has told me he has worked on numerous occasions for TB and that he is easily worth over the billion. I have no reason to doubt his knowledge. As I say it doesn't matter two shits to my friend how much or what he does with his cash so he wouldn't bullshit. He did mention one deal last year that netted him £500 million alone!!

 

[HovaGirl]

A businessman is a businessman. Bloom is investing in the Albion because he hopes the team is on the up, when he will see a healthy personal and club return. He will have access to more than his own money at the moment and we already have income from season ticket sales, presumably any profits from the Albion shop, with the profits from the new shop, bars, restaurants, etc, to look forward to. Albion will have guaranteed bums on seats for the next few years, while fans hope we climb to the Premiership, where the financial rewards could be high.

 

[beorhthelm]

I was laughed at quite a few months ago for suggesting Bloom was a billionaire. I still maintain that he is.

based on what though? though i think he's no doubt got a lot of wealth, i think it would stop a long way short of billion.

He did mention one deal last year that netted him £500 million alone!!

in what area? im pretty sure a single deal of that size would register on few radars.

 

[PILTDOWN MAN]

based on what though? though i think he's no doubt got a lot of wealth, i think it would stop a long way short of billion.



in what area? im pretty sure a single deal of that size would register on few radars.

Property!

 

[BensGrandad]

Was is not suggested by somebody on here apparently ITK that TB could easily pay off Man Utd debt and still be a wealthy man. At the time they owed about £750m.

 

[Lord Bracknell]

Banks would loan money to Bloom and not the Club I recon.

The Club has stated categorically that the costs of the stadium are being met without interest payments having to be made.

 

[beorhthelm]

Property!

maybe... however property is not very quick moving and is very visable (deal wise as much as literal material sence). i'm surprised we dont know about it if it were that.

 

[HovaGirl]

The Club has stated categorically that the costs of the stadium are being met without interest payments having to be made.

The costs of the stadium, perhaps, but not necessarily the costs of new players.

 

[Mellotron]

based on what though? though i think he's no doubt got a lot of wealth, i think it would stop a long way short of billion.

Based on:

1. If his wealth is "a long way short of a billion" (ie £700m or less) he's frankly a complete fool investing what must be getting close to £150-175m in a football team, I wouldn't want someone that bad with money in charge of our club.
2. Certain reliable posters on here.
3. A conversation I had with someone who would know, or have a very good idea at least.

 

[Carrot Cruncher]

Albion fan for 45 years too (well done north stand steve). For me the recent events (including todays news) are right up there with promotion to the old 1st Div and getting to the Cup Final. The recent stuff probably shades it 'cos we probably should have gone out of business years ago and still amazes me how we survived the dark days.

I am a glass half full man and feel so optimistic for the future. I have faith in Tony Bloom because he is a true fan and from a 3rd generation Albion family.

I guess there remains a tiny bit of concern deep inside me that we should never do anything to put us at risk of financial trouble ever again. Therefore it is a fair question to wonder where all the money has come from, especially as there is not much transparency at present? Albion fans of all people should never be afraid to ask the question. Maybe it is because almost overnight we have gone from the ridiculous to the sublime, spending £100m on a new stadium, attracted an inspirational manager, romped away as Lge 1 champs, rebuilt the squad having smashed the club transfer record twice in a month (including our first multi-million £ player) and maybe more players to come.........plus we are about to lay out £15m on a training complex and potentially lay out another few £m's to increase capacity at The Amex?

I cannot see the Bloom family doing anything that does not have a sound financial footing. I respect and admire their discrete business profile but suggest that inevitably this will lead to a question or two until the club's accounts show how financially sound we are in the Bloom era.

This absolutely nails it for me.

 

[stroller]

Well Bloom has made most of his money in property in the southern hemisphere. I know a lot of people in the poker world, some of which know him well and when he first took over the club people were talking about him being worth 600m. That was a while ago now.

He hasnt paid £90m for the stadium - lottery funds, FA grants etc add up to about £30m - but even if he has paid for the whole lot then he has just added a £90m stadium to his £600m property portfolio - not such a big deal when you think about it like that.

He is a shrewd businessman as many have said. He wants to add 10k more seats next year and Im sure his plan is to have a waiting list of around, err, 10k before he does that, minimum. so 10k seats at £500 average = £5m extra annual imcome...it starts to add up when you consider:

18500 current ST Holders (£9,250,000)
£2m for general ticket sales
£2.4m for 1901 seats
£1m for boxes
£2.5m TV rights

Thats over £20m annual income before you even think about non football related income which could easily double that.

I would be amazed if the playing budget ends up much more than £200k pw - thats only 10m per annum and could well be only 20% of our income. If he has to splash £10m on transfer fees to make that revenue possible then it makes complete sense.

So in conclusion, and to use poker terminology its hugely +EV for him.

And lets not forget - he loves the Albion - its in the blood.

 

[beorhthelm]

Based on:

1. If his wealth is "a long way short of a billion" (ie £700m or less) he's frankly a complete fool investing what must be getting close to £150-175m in a football team, I wouldn't want someone that bad with money in charge of our club.

i dont understand this line of thinking. if im worth say 200m or even just 150m, spending 100-120m for stadium, training facility and club transfer kitty to get things moving still leaves me with an immense wealth. who here, if they won a 80m lottery roll over a couple years ago, would not have considered putting half in to fund the stadium?

 

[Dick Knights Mumm]

And lets not forget - he loves the Albion - its in the blood.

Quite.

 

[NMH]

The Club has stated categorically that the costs of the stadium are being met without interest payments having to be made.

Warms the cockles.

But if there's a whip-round for the lad, I'll put my hand in my pocket and give what I can

 

[Icy Gull]

Asking where is the money coming from beats asking where did the money go and i'll now sleep easier knowing NMH will be helping out financially should the need arise