Tony Bloom and the Club's Premiership millions

[HantsSeagull]

Let me firstly say that i have no idea if this is common practice or common knowledge. Maybe @elpresidente will know.

It has however been highlighted to me that (allegedly) on 11th May - 4 days after our last game - TB has arranged an advance of our first seasons Premier League money from Barclays Bank for a fee. So he/the club has a lump sum upfront that the League will pay back to Barclays in instalments over the season. Motive - no idea.

all publicly available at companies house

 

[Husty]

Oops the autistic crew will hate you for this

 

[The Antikythera Mechanism]

Tony knows what he's doing, so end of thread.

 

[HantsSeagull]

Tony knows what he's doing, so end of thread.

not suggesting he doesn't - just thought it was an interesting move

 

[bhanutz]

Isn't it just an advance secured against funds that will be payable from the Premier League?

Standard procedure I would have thought!

 

[dazzer6666]

Isn't it just an advance secured against funds that will be payable from the Premier League?

Standard procedure I would have thought!

This. Means the money is available to spend before it's paid. Could be handy for things like buying new players........

 

[bhanutz]

Oops the autistic crew will hate you for this

Why?

 

[Thunder Bolt]

Oops the autistic crew will hate you for this

Don't you think pedantic crew might be a better description? That's twice today you've referred to posters as autistic.

 

[bhanutz]

Don't you think pedantic crew might be a better description? That's twice today you've referred to posters as autistic.

It obviously makes him feel big and clever

 

[TSB]

We'll be using that cash to sign Leigh Halfpenny.

 

[Icy Gull]

Has TB done a runner to Australia with the money? Matt Ryan is obviously involved in this scam

 

[warmleyseagull]

Isn't it just an advance secured against funds that will be payable from the Premier League?

Standard procedure I would have thought!

Of course it is! Tell you what happened: Albion will have to pay substantial promo bonuses in June payroll. These will be a function of accounts to 2017, which will show a stonking loss , and many will get in lather because they don't realise (or have forgotten) that promo bonuses are excluded for FFP. Instead, the non cognoscenti will assume Albion will fail FFP if relegated, TB will do a runner, all hell will be let loose, and we will do a Leyton Orient.....

....meanwhile... those who actually run the club and know what is going on realise it is a bit silly for TB to dip majorly into his pocket to pay the bonuses when there is £100m round the corner. So, they think why not take an advance of the £100m and pay the bonuses from that. End of....

..or not quite. It does suggest that (effectively) the promo bonuses are to be paid from PL monies, at least in short-term. Further, David Jones made clear in his Guardian interview that Albion will budget for a 'small surplus' in 2018 if promoted. Materially, paying last year's promo bonuses from 2018 profits would be tantamount to a small profit in 2018. Suggests that TB wishes to stay cash neutral in PL.

 

[Gazwag]

He took it all to Vegas and come back with 20 times more, nothing to worry about

 

[El Presidente]

Let me firstly say that i have no idea if this is common practice or common knowledge. Maybe @elpresidente will know.

It has however been highlighted to me that (allegedly) on 11th May - 4 days after our last game - TB has arranged an advance of our first seasons Premier League money from Barclays Bank for a fee. So he/the club has a lump sum upfront that the League will pay back to Barclays in instalments over the season. Motive - no idea.

all publicly available at companies house

View attachment 86742

It's a standard mortgage debenture agreement. Quite a few clubs in the PL have them in relation to advances from banks prior to receiving their first tranche of cash from the PL, which I think is due on July 1st.

 

[Ernest]

Same thing happened in 1983 with the BILLIONS we got from the FA Cup Final

 

[Weststander]

We'll be using that cash to sign Leigh Halfpenny.

CMS was equally good at slotting strikes over the bar.

 

[Weststander]

Materially, paying last year's promo bonuses from 2018 profits would be tantamount to a small profit in 2018. Suggests that TB wishes to stay cash neutral in PL.

The timing of payment of bonuses has no effect on the club's loss or profit.

Bonuses are charged to the Profit and Loss Account in the year in which they become contractually due. When Derby equalised against Huddersfield and the ref blew for full time, that was the event where the bonuses liability crystallised, so they must show as a cost in the 2016/17 accounts.

Their later payment, is purely a cash flow and balance sheet matter.

 

[warmleyseagull]

The timing of payment of bonuses has no effect on the club's loss or profit or FFP calculations.

Bonuses are charged to the Profit and Loss Account in the year in which they become contractually due. When Derby equalised against Huddersfield and the ref blew for full time, that was the event the bonus liability crystallised, so then must show as a cost in the 2016/17 accounts.

Their later payment, is purely a cash flow and balance sheet matter.

That's exactly what I was saying.

 

[Husty]

Don't you think pedantic crew might be a better description? That's twice today you've referred to posters as autistic.

It strikes me as a more accurate description?

 

[El Presidente]

It strikes me as a more accurate description?

My son's autistic. I'm not sure what his condition has to do with correctly describing the top division in English football.