Question re: Bloom getting his money back

[Brighton Breezy]

I know a lot of people argue rising costs etc are necessary because, well, we have a £93million stadium to pay for. However, my understanding of the situation is that our current losses etc do no include any repayments to Tony Bloom for the loans he gave the club as they have no started yet.

So if the club has not started paying back Tony Bloom for the stadium build etc then the increased prices cannot be justified by that argument offered by many on here, although I do, of course, understand the increased energy bills, staffing etc the club has to pay for since moving to The Amex.

I was under the impression that there is no real timescale on the loans and that, if they are not paid back by a certain date, they get converted into shares. Is that right?

Also, what is the date when that happens?

I was talking about this the other day and can understand why the club is perhaps placing more importance on getting promotion than maybe the average, long-standing fan is. Promotion is, I would imagine, the only way the club will be able to afford to even partly pay back Tony Bloom.

I am in NO WAY suggestion anything even remotely negative in the way Bloom has funded us etc. Not at all. I was just wondering when, realistically, the club will be expected to start paying him back.

Sorry if I have missed this all being explained elsewhere.

 

[KZNSeagull]

TB converted 45m (I think) of loans into shares in the last set of accounts. El Pres will confirm though.

 

[Brighton Breezy]

TB converted 45m (I think) of loans into shares in the last set of accounts. El Pres will confirm though.

Thanks.

We are very lucky to have a Tony Bloom type figure. That much is clear.

Surely though he will want his money back eventually whether by loans being repaid or selling the club with his large number of converted shares?

 

[KZNSeagull]

To answer the rest though, my understanding is that this is an interest free loan that will be converted to shares if the club does not pay it back in about 20 years time (or 20 years from when the Amex opened). As TB is still putting money into the club, we do not even know how much the club owes him. But the prem league is the only place that the club will be able to partly pay him back, if he actually wants to be paid back.

But no, repaying loans to TB cannot be used as an excuse for putting up prices and I don't believe that the club has ever said this, have they? Paying the increased running costs, yes, paying loans to TB off, no.

 

[shaolinpunk]

I was talking about this the other day and can understand why the club is perhaps placing more importance on getting promotion than maybe the average, long-standing fan is. Promotion is, I would imagine, the only way the club will be able to afford to even partly pay back Tony Bloom.

Nail. On. Head.

 

[Brighton Breezy]

To answer the rest though, my understanding is that this is an interest free loan that will be converted to shares if the club does not pay it back in about 20 years time (or 20 years from when the Amex opened). As TB is still putting money into the club, we do not even know how much the club owes him. But the prem league is the only place that the club will be able to partly pay him back, if he actually wants to be paid back.

But no, repaying loans to TB cannot be used as an excuse for putting up prices and I don't believe that the club has ever said this, have they? Paying the increased running costs, yes, paying loans to TB off, no.

No the club hasn't ever said that. Some fans on here do though. That was just an aside though.

Was just genuinely interested to know when the club needs to start paying the millions back. As you say, I can't see us ever making much of a dent in it - interest free or not - unless we go up.

 

[Southover Street Seagull]

So if the club has not started paying back Tony Bloom for the stadium build etc then the increased prices cannot be justified by that argument offered by many on here, although I do, of course, understand the increased energy bills, staffing etc the club has to pay for since moving to The Amex.

Considering the stadium was only built just over two years ago I cannot understand why there was never any renewable energy included within the plans for the stadium.

 

[Mellotron]

Does seem a bit basic though. Surely the point of the new stadium was to MAKE more money?

 

[clippedgull]

I recall 2023 being a year where the outstanding loan at the time from Tony Bloom would be converted into shares.

Edit: Just did a Google and this Argus article gives some flesh behind the investment

http://www.theargus.co.uk/news/4387...__says_new_Brighton_and_Hove_Albion_chairman/

 

[El Presidente]

Tony Bloom was owed £120,252,105 by the club at 30 June 2012.

In addition he had ploughed £24 million into the club via purchasing shares.

Since 30 June 2012 he has converted £40 million of the loan into shares, which is an effective way of saying he has written £40 million off the loan.

He WILL NOT make any attempt to recoup any of this outstanding money before 2023 at the earliest, according to documents lodged, and to be honest, I suspect he has actually written the whole thing off.

 

[Papa Lazarou]

Considering the stadium was only built just over two years ago I cannot understand why there was never any renewable energy included within the plans for the stadium.

That does seem odd. They could have covered the roof with solar panels.

 

[Mellotron]

He WILL NOT make any attempt to recoup any of this outstanding money before 2023 at the earliest, according to documents lodged, and to be honest, I suspect he has actually written the whole thing off.

I think he definitely has. He would be a ****ing AWFUL businessman if he was sort of relying on getting any of his money back.

The man is comfortably a billionnaire. This is his gift to the Albion.

 

[Brighton Breezy]

Tony Bloom was owed £120,252,105 by the club at 30 June 2012.

In addition he had ploughed £24 million into the club via purchasing shares.

Since 30 June 2012 he has converted £40 million of the loan into shares, which is an effective way of saying he has written £40 million off the loan.

He WILL NOT make any attempt to recoup any of this outstanding money before 2023 at the earliest, according to documents lodged, and to be honest, I suspect he has actually written the whole thing off.

Thanks for explaining it.

Say we got promoted next season and benefited from the Premier League TV cash, do you think the club would suggest paying back part of the loan early to Tony Bloom even if he did not ask for it?

I don't think I would be alone in thinking the bloke deserves some of his millions back eventually.

I guess it is difficult to tell how pressing the need for an eventual return would be without knowing more about Bloom's actual fortune. If he has billions, I doubt he'll mind. If it is substantially less it might be more of an issue.

 

[El Presidente]

I think he definitely has. He would be a ****ing AWFUL businessman if he was sort of relying on getting any of his money back.

The man is comfortably a billionnaire. This is his gift to the Albion.

Absolutely, think about it in reality. Who in their right minds would give a FIFTEEN year interest free UNSECURED loan to a company that has not made a profit since 1971? Unless it was a 'gift' to the people of Brighton and Hove, and fans of their football club, some of whom are ungrateful scrotes.

 

[Miami Seagull]

The only way he will ever get any money back is by selling some or all of his stake in the club. Highly unlikely I think, but you never know...

 

[Titanic]

The only way he will ever get any money back is by selling some or all of his stake in the club. Highly unlikely I think, but you never know...

His kids would be disappointed... he has said several times that he wants them to own it one day.

 

[Mellotron]

I reckon it's all part of an evil plan - he's determined for his kid to play upfront for us in years to come - and who are we to argue? If we complain he can just clear his throat and point at the stadium.

 

[clippedgull]

His kids would be disappointed... he has said several times that he wants them to own it one day.

Indeed. I remember a particular television interview where he was sitting in the North Stand at Withdean just before the move and said that he wanted the stadium to be a legacy to his children and children of the supporters.

 

[Brighton Breezy]

Indeed. I remember a particular television interview where he was sitting in the North Stand at Withdean just before the move and said that he wanted the stadium to be a legacy to his children and children of the supporters.

I like Tony Bloom.

I never realised he was THAT minted that he could basically wave goodbye to the best part of £150million.

Surely there could potentially come a time though when he might not so be well off and might need some, if not all, of his original investment back.

If not, brilliant.

That said - and this is a very small point not at all showing a lack of gratitude for all his has done or implying he would in any way, shape or form put our club's future at risk in any way - I never really like the idea of a club being owned by one person. I think Brighton are lucky our one person is who he is. Other clubs are not so lucky.

 

[Justice]

He would of had a result if we had gone up via the play offs could of recouped 30-40 million.