How much is the Albions debt?

[Uncle Buck]

Once we get permission for a new stadium, this becomes a tangible asset, as do future ticket sales. Everything gets thrown into the new Business Plan, which will include opportunities for risk sharing and income sharing with major finance houses.

FG will, of course, continue to bleat about the stadium creating debts. The rest of us will understand that it will secure our future.

Pressumably it also makes us a more attractive prospect for new investment away from the banks?

 

[Turkey]

So am I right in concluding that:

We're £3.75 Million in debt
We owe £5.24 Million in loans
Total debt = £8.99 Million

 

[Albion Dan]

Jesus, thats more than when we sold the Goldstone.

 

[m20gull]

Jesus, thats more than when we sold the Goldstone.

That's right. The Goldstone sale cleared our existing debts, but not by much. That was why the planning permission was so important at he time, because it lifted the value of the ground above the value of the debts.

Since 1997 we have had 7 loss making years when income has been restricted by ground shares and capacity limits, and expenditure has been increased by the rent paid to Gillingham and the expenses of establishing Withdean plus its ongoing management and Ecovert's rake-off, plus £2.5m spent on Falmer.

It's only about £900,000 a year loss plus the Falmer costs.