£97 million WHAT

[Dave the OAP]

One question, for those bods or those in-the-know.

As I understood it, a seperate holding company was going to own the stadium, rather than the football club directly. I'm not clear on the previous funding arrangements (i.e. whether funds were going direct to that company or through the football club, which has more collateral), but does anyone know if this is still the case? From the sound of it, Bloom is giving these loans to the football club, rather than the holding company, and can convert them into shares in the football club, again rather than the holding company.

i wonder if the Football League are going to clamp down on Holding Companies owning football clubs. At the end of the day, the main activity of a football club is football, as they found against Southampton

 

[Mendoza]

One question, for those bods or those in-the-know.

As I understood it, a seperate holding company was going to own the stadium, rather than the football club directly. I'm not clear on the previous funding arrangements (i.e. whether funds were going direct to that company or through the football club, which has more collateral), but does anyone know if this is still the case? From the sound of it, Bloom is giving these loans to the football club, rather than the holding company, and can convert them into shares in the football club, again rather than the holding company.

if it is not going to the holding company, then a few people at the club will no longer need to be employed surely?

What is the point of Perry, if his time was devoted to securing funds for Falmer, something he couldnt deliver after how many years, and was bailed out by Tony. I dont have anything against PErry, but it just seems if Bloom is funding it, then we have someone on the books earning lots of money, but not having to do much? Sure he was vital to the years of campaigning for the ground, but if we are to move on, is he still needed?

Dont know who else falls in that category in the back room, but seems there must be a few changes. Two Blooms on the board now, and Knight with a 6% share on the board

 

[lost in london]

difference being we can't be made bankrupt by this debt

Until Bloom calls in his loan?

Great news for the club, but I can't help feel a little bit uneasy about one person being so central to our financial stability.

Still, beggars can't be choosers I suppose.

 

[sten_super]

if it is not going to the holding company, then a few people at the club will no longer need to be employed surely?

What is the point of Perry, if his time was devoted to securing funds for Falmer, something he couldnt deliver after how many years, and was bailed out by Tony. I dont have anything against PErry, but it just seems if Bloom is funding it, then we have someone on the books earning lots of money, but not having to do much? Sure he was vital to the years of campaigning for the ground, but if we are to move on, is he still needed?

Dont know who else falls in that category in the back room, but seems there must be a few changes. Two Blooms on the board now, and Knight with a 6% share on the board

Martin Perry is the project director; I would imagine that the club will still want someone to manage contact with Buckingham Group, and deal with all queries regarding the stadium construction, so there's certainly still a job there.

Saying that, I'm sure there will be some changes behind the scenes.

 

[Westdene Seagull]

Jesus ..... can't we just stop the moaning for ONE day and enjoy that fact that someone with money has taken over the club

I get the feeling some people will never be happy !

 

[Dandyman]

How the f***ing hell does our stadium go from £40 million to £97 million cost!

I take it the stands will have individual arm chairs and we will have gold forks for the caviar and asparagus tips we will all be buying.

Surely the BBC have this wrong!!!

Must admit that got me wondering as well. Without Bloom how the f*** would we have afforded it ?

 

[KZNSeagull]

What happens if Tony Bloom gets run over by a bus tomorrow??

Am getting more uneasy by the minute at having to rely on one person for all the funding. Great news that he has come forward, but am still very uneasy about it.

 

[Brovion]

How the f***ing hell does our stadium go from £40 million to £97 million cost!

I take it the stands will have individual arm chairs and we will have gold forks for the caviar and asparagus tips we will all be buying.

Surely the BBC have this wrong!!!

Indeed. Just a thought - could it be anything to do with having to cover the City College funding in case the LSC decide against it?

 

[beorhthelm]

where did our (NSC/collective) original estimate of the cost come from? was it some perpetuated rumour or was it a matter of public record (part of the public inquiry). as i recall, we've often asked why it was as high as reported in the first place as other new stadiums have been cheaper, St Mary's was £32m.

i know theres unique circumstances and costs around Falmer, be 3x the cost

if i hadnt read it on the Seagulls site i wouldnt beleive it. in fact i still not sure its the full story, after all the recent loan note thing was only for £40m. whats missing

 

[Brighton Breezy]

I think Perry should go as well.

We were told not to worry and all the funding was in place.

Seems the whole process has been a bit of a sham job.

 

[hoveboyslim]

I think people are getting confused over construction cost and total development cost. The Stadium costs circa £65 million, the rest of the monies are land acquistion costs, professional fees, legal, fees, fit-out costs and VAT etc etc...

The £90 odd million is not a new figure - it's been known about for quite a while

 

[Giraffe]

I think Perry should go as well.

We were told not to worry and all the funding was in place.

Seems the whole process has been a bit of a sham job.

Thats not really fair on Perry. He was only toeing the Knight line. Ultimately before the banking crisis they had every chance of funding it, but once that happened they were in shit creek. However Bloom was always a major part of that funding anyway, all he has done is significantly increase this.

If you read the club statements carefully over a long period of time it was clear this was happening and the club NEVER actually said that they had agreed bank funding. Careful wording, but on this point they never actually lied.

And frankly why are we having this discussion. Its all good news. Just because some peoples superhero Knight has not been the man to thank does not make it a bad thing.

 

[Brighton Breezy]

Yes. The overwelming feeling here should be one of DELIGHT.

I guess it does just stink a bit that we were always told funding was in place and now we are told Bloom has literally saved the project.

 

[Mendoza]

Yes. The overwelming feeling here should be one of DELIGHT.

I guess it does just stink a bit that we were always told funding was in place and now we are told Bloom has literally saved the project.

maybe the funding was in place, but Blooms money is an easy way to save the clubs millions as we dont have to pay interest. Its £93.1million we are paying for, instead of £93.1million + interest over 15 or so years

 

[Giraffe]

Yes. The overwelming feeling here should be one of DELIGHT.

I guess it does just stink a bit that we were always told funding was in place and now we are told Bloom has literally saved the project.

Well, I hate to say I told everyone so, but I told yer so!!

For anyone who didn't have Dick Knight rose tinted glasses on it was clear there was a problem obtaining bank funding. Just that most people on here had their heads stuck up Dick's arse so couldn't see it.

 

[Brighton Breezy]

I was always quietly sceptical over what we were being told about Falmer.

I guess its not worth worrying about now!

maybe the funding was in place, but Blooms money is an easy way to save the clubs millions as we dont have to pay interest. Its £93.1million we are paying for, instead of £93.1million + interest over 15 or so years

Not the impression Perry is giving with his 'without Tony there would be no Falmer' stuff...

 

[Giraffe]

maybe the funding was in place, but Blooms money is an easy way to save the clubs millions as we dont have to pay interest. Its £93.1million we are paying for, instead of £93.1million + interest over 15 or so years

Funding was not in place. The banking crisis made sure of that. And it's not just me saying it now, Martin Perry has confirmed it. The banks would not lend. The Falmer project has been saved 100% by Tony Bloom

 

[aftershavedave]

Well, I hate to say I told everyone so, but I told yer so!!

For anyone who didn't have Dick Knight rose tinted glasses on it was clear there was a problem obtaining bank funding. Just that most people on here had their heads stuck up Dick's arse so couldn't see it.

very true indeed.

time to move on, because this really is fantastic news, but the vitriol displayed by certain posters on here should be a lesson that you don't always need to believe what you're told.

 

[Tricky Dicky]

Yes. The overwelming feeling here should be one of DELIGHT.

I guess it does just stink a bit that we were always told funding was in place and now we are told Bloom has literally saved the project.

All rather irrelevant now, but just because Bloom is now funding it, doesn't necessarily mean that the funding wasn't going to be found from elsewhere. It may very well have been lined up all along from a different source - obviosuly, this is a better one.

 

[Brighton Breezy]

All rather irrelevant now, but just because Bloom is now funding it, doesn't necessarily mean that the funding wasn't going to be found from elsewhere. It may very well have been lined up all along from a different source - obviosuly, this is a better one.

Martin Perry himself says there would be no new stadium without Bloom's cash.