Tony Bloom's Blue Lizard Commercial accounts - £10m+ interest free loan made by Bloom

[34064 Fighter Command]

So how did Tony Bloom make this loan? What's the source of his capital? Has the loan been repaid? Has he already made a loan to the Albion and is now demanding that loan be repaid unless McGee is sacked, or is he offering to make a loan only on the condition that McGee is sacked?

He'll demand it's repayment after he's had a bad night at the table, and is Royally Unflushed !

 

[Gritt23]

I'm sorry if I'm interfering in a private argument between two sides here - but as an Albion fan, I too believe that we should know as much as possible about potential investors in the club. After all, it's exactly how we survived the Archer scandal. I don't think resorting to personal attacks is helpful, argument, debate and questioning most certainly is.

 

[Brovion]

I'm sorry if I'm interfering in a private argument between two sides here - but as an Albion fan, I too believe that we should know as much as possible about potential investors in the club. After all, it's exactly how we survived the Archer scandal. I don't think resorting to personal attacks is helpful, argument, debate and questioning most certainly is.

Well said that man. I know a lot of people think L.I. can be a bit of a pompous twat at times but I'm bloody glad he's doing this digging and asking these questions.

Keep at it LI, and keep it in the open.

 

[Tom Hark Preston Park]

I'm sorry if I'm interfering in a private argument between two sides here - but as an Albion fan, I too believe that we should know as much as possible about potential investors in the club. After all, it's exactly how we survived the Archer scandal. I don't think resorting to personal attacks is helpful, argument, debate and questioning most certainly is.

The more financial information in the public domain that gets floated on here the better IMHO. While there's stuff being posted and people digging for dirt or quite reasonably suspecting the ulterior motives of would-be investors, there's always the chance that a killer fact WILL be unearthed. IHMO it's healthy, so long as it's done by people who know the turf and what can be said or inferred and what can't.

And although resorting to personal attacks may not be helpful, it sure is FUN

 

[London Irish]

Re: Re: Tony Bloom's Blue Lizard Commercial accounts - £10m+ interest free loan made by Bloom

But does that mean he has access to any funds for us, or does it mean all of his cash is tied up in Blue Lizard. The Balance Sheet of which doesn't suggest they will be able to repay this loan any time soon.

This really is the key point. Bozza's intention of posting may have been to demonstrate that Tony Bloom has "apparent access to substantial funds" but really this is not demonstrated at all because of the reasons that Gritt23 states.

Bozza did do us all a favour by posting the first 5 pages of the accounts of Blue Lizard Commercial Ltd for the year to June 2005 (Bozza has since removed them, not sure why).

The balance sheet shows that Blue Lizard has a deficit of assets over liabilities of £6.6m. This is of course largely due to the £10.3m that Bloom had just put into the company to shore it up and which it now obviously owes to him.

But Blue Lizard is in no position to pay any of that money back to him, according to the accounts. It states: "Mr A G Bloom has given his personal assurance to the company that he will not seek repayment of his long term loan until such time as the company has sufficient liquid funds to no longer in need of his financial support".

It is only with this money that Blue Lizard remains a "going concern" - the accounts state "these accounts have been drawn up on a going concern basis on the assurance that his support will continue."

Among the about £6m assets stated on the balance sheet, much of it is in paper shares - the £1m for Premier Bet (we have already seen that it is impossible to realise a cash value of his stake without virtually destroying the value of this company he is currently working so hard to build up, particularly at the forthcoming World Cup 2006).

There are £2.6m in stocks (don't know what this would actually be worth) and £2.6m in cash in the bank. All a long way you would think from covering his substantial loans to Blue Lizard in excess of £10m.

So I think we are back where we started before Bozza posted these accounts. The Premier Bet business is not going to provide any money to invest in the Albion. The Blue Lizard Commercial company isn't either.

Of course he may have other wealth in other places that can. We just don't whether it actually exists or not.

Maybe some more documents will be discovered on Bozza's coffee table tonight to provide us with some clues to this. Here's hoping

 

[dcseagull]

What a magical place, Bozza's coffee table is. Has a coffee table ever been used before in a propeganda war? I wonder if Mr Knight has his own coffee table, or whether he has to use someone elses?

 

[aftershavedave]

Re: Re: Re: Tony Bloom's Blue Lizard Commercial accounts - £10m+ interest free loan m

The balance sheet shows that Blue Lizard has a deficit of assets over liabilities of £6.6m. This is of course largely due to the £10.3m that Bloom had just put into the company to shore it up and which it now obviously owes to him.

But Blue Lizard is in no position to pay any of that money back to him, according to the accounts. It states: "Mr A G Bloom has given his personal assurance to the company that he will not seek repayment of his long term loan until such time as the company has sufficient liquid funds to no longer in need of his financial support".

let me help here if i can:

it's very normal for the auditors to get assurance from the director giving the loan that it won't be withdrawn within one year so that the accounts can "avoid" one of the measures of insolvency.

nothing suspicious i'm afraid

 

[Tom Hark Preston Park]

This could be a LONG night

 

[aftershavedave]

This could be a LONG night

lol

and the missus is out drinking as well! gawd help u all

 

[Dancin Ninja BHA]

f***ing hell, I've been away from this site for 6 months, and the first thread I go onto, its as if nowt has changed...LI being a twat as normal and annoying people left, right and centre

 

[London Irish]

Re: Re: Re: Re: Tony Bloom's Blue Lizard Commercial accounts - £10m+ interest free loan m

let me help here if i can:

it's very normal for the auditors to get assurance from the director giving the loan that it won't be withdrawn within one year so that the accounts can "avoid" one of the measures of insolvency.

nothing suspicious i'm afraid

Of course there is nothing suspicious, wasn't implying there was anything wrong with the accounts at all, but thanks for the clarification if that wasn't absolutely crystal clear.

The point I was making was that the accounts of Blue Lizard were originally posted by Bozza to indicate that Bloom has access to substantial funds. It doesn't prove this, you agree with that? - a straightforward point really.

 

[aftershavedave]

Re: Re: Re: Re: Re: Tony Bloom's Blue Lizard Commercial accounts - £10m+ interest fre

Of course there is nothing suspicious, wasn't implying there was anything wrong with the accounts at all, but thanks for the clarification if that wasn't absolutely crystal clear.

The point I was making was that the accounts of Blue Lizard were originally posted by Bozza to indicate that Bloom has access to substantial funds. It doesn't prove this, you agree with that? - a straightforward point really.

yes i agree.

(doesn't disprove it either!)

 

[London Irish]

This could be a LONG night

Not for me, I've got some real work to do

 

[aftershavedave]

Not for me, I've got some real work to do

jeez you're not pulling pints between posts are you

 

[Brixtaan]

Unusual for a mod to resort to tedious bile.

 

[Beach Hut]

see your thread cunto...

Double standards if ever I saw it, next we should expect anti-gambling posts

 

[philelc]

Is this the same Tony Bloom the poker player Tony 'The Lizard' Bloom

 

[dougdeep]

Is this the same Tony Bloom the poker player Tony 'The Lizard' Bloom

Could be.

 

[perseus]

Is he bluffing?

Backstage the girls were playin' five-card stud by the stairs,
Lily had two queens, she was hopin' for a third to match her pair.
Outside the streets were fillin' up, the window was open wide,
A gentle breeze was blowin', you could feel it from inside.
Lily called another bet and drew up the Jack of Hearts.

http://www.bobdylan.com/songs/lily.html

I bet a double on two draws

Yeovil v Colchester
Stockport v Carlisle

The winnings will not even be enough to buy a season ticket! Small stake.