We are in Financial Trouble!

[seagullsovergrimsby]

Where does it say 16million over two years when only 1 years of accounts have been released? Or did i miss somehting

PB said the estimated losses for year 2 would be similar but there again we got rid of Ken Brown as CEO for a profligate spending regime , got rid of azure , and virtually all of the sponsorship and partnership deals were in their final year and negotiated when we were in League 1. Year 3 accounts will be the proof in the pudding.

 

[Uncle C]

Just reading that thread, not only do they believe it they now think Bridcutt will be sold on the cheap. Strange

They are no more stupid than a large number of people on NSC

 

[Return of the Rev]

new sponsorship deals and a new caterer , staff reductions to remove surplus jobs , these suggest the tide is turning.

And the new caterer is going to produce how much extra,i'm spending less on refreshments this season so how many millions have been saved on wages,our income could peak this year, a mid table finish and revenue would plummet,they seem to think the revenue has a never ending source,they don't know their customers that well

 

[Tony Meolas Loan Spell]

This is where the mods should come in and lock out these threads started by Palace bellends

 

[seagullsovergrimsby]

They are no more stupid than a large number of people on NSC

I see it as a Nigel trying to deflect any criticism away from CPFC2010 of what the possible outcome is once Palace are relegated and the parachute payments barely cover the wages bill.

 

[seagullsovergrimsby]

And the new caterer is going to produce how much extra,i'm spending less on refreshments this season so how many millions have been saved on wages,our income could peak this year, a mid table finish and revenue would plummet,they seem to think the revenue has a never ending source,they don't know their customers that well

The 18 middle managers taking redundancy save the club just under a £1M a year. Nobody knows the shirt sponsorship deal details but it will be a hell of a lot more than brightonandhovejobs.com

 

[Titanic]

This is where the mods should come in and lock out these threads started by Palace bellends

 

[Return of the Rev]

The 18 middle managers taking redundancy save the club just under a £1M a year. Nobody knows the shirt sponsorship deal details but it will be a hell of a lot more than brightonandhovejobs.com

So these people were on 50k each AND WHAT DID THEY DO AND WHO CREATED THESE JOBS?

 

[Cowfold Seagull]

Anyone for TENNIS got the swingball out in the back garden a jug of pimms and a shit load of strawberries the tv in the garden as well COME ON MURRAY

Hows that jug of Pimms going down Tony?. Do you need any help with it?.

 

[Miffy]

The stadium is owned by Community Stadium Ltd - the club by Brighton and Hove Albion Football Club Ltd - the shares for both companies being 100% held by Brighton and Hove Albion Holdings Ltd.

One company in the group can fail without it affecting the whole group.

The point i was making was that the previous post stated that the club isn't worth the debts of £40m ... The assets mean that yes it is. It's worth significantly more than that. And yes that is a very simplified answer based on the group structure but without getting into detailed corporate structure explanations and the laws on groups it'll do

 

[tinycowboy]

Maybe he did - it really is the only alternative to his being forced to do so.

If he has intentionally written off the debt in this way then he has demonstrated an incredible level of generosity! - It is a genuine "write-off" of that £40 million, as he owns the vast majority of the shares and the proportion of the club he owns has been increased by a really insignificant amount due to the additional investment.

If TB thinks that the club has huge potential and could be a premier league club one day, would he rather own 91% of the club and be owed £85m, or own 77% of the club and be owed £125m? It all depends on how much he thinks the club will be worth in the future. This loan is interest free anyway, so there is no incentive to keep it high. Maybe this conversion from debt to shares is a statement of confidence in the future, not a desperate measure to avoid problems with covenants or solvency...

 

[Buckley's Mad Eye]

And the new caterer is going to produce how much extra,i'm spending less on refreshments this season so how many millions have been saved on wages,our income could peak this year, a mid table finish and revenue would plummet,they seem to think the revenue has a never ending source,they don't know their customers that well

The figures are confidential, but I'd be surprised if the new sponsorship didn't blow the old ones out the water. Bloom and Barber are smart fellows, I'm sure they are aware of the importance of progress. Its good to question things, but I'm confident that we're on the right track.

 

[Lord Bracknell]

TB swapped £40,000,000 of debt for equity last year.

That's more a statement about Tony Bloom's financial situation than the Club's.

 

[Return of the Rev]

the figures are confidential, but i'd be surprised if the new sponsorship didn't blow the old ones out the water. Bloom and barber are smart fellows, i'm sure they are aware of the importance of progress. Its good to question things, but i'm confident that we're on the right track.

It would not be hard to blow the old sponsorship deal out the water,lets say we saved 1 million on wages,we get an extra million from amex and we make an extra 20k off the caterers that leaves a shortfall of 5,980,000 before we break even a loss of 21.980,000 over three years

 

[dougdeep]

It would not be hard to blow the old sponsorship deal out the water,lets say we saved 1 million on wages,we get an extra million from amex and we make an extra 20k off the caterers that leaves a shortfall of 5,980,000 before we break even a loss of 21.980,000 over three years

I'm glad that you aren't the chancellor of the exchequer.

 

[mikeyjh]

It would not be hard to blow the old sponsorship deal out the water,lets say we saved 1 million on wages,we get an extra million from amex and we make an extra 20k off the caterers that leaves a shortfall of 5,980,000 before we break even a loss of 21.980,000 over three years

You reckon??

 

[Chicken Runner61]

The banks don't like debts over a company even if the debtor is a director, converting some of it to stock takes the debt off one part of the books and moves it to another in this case Shares.

This sort of proves to the bank he won't be immediately asking for his money back and makes the books look better

If we go bust now TB will lose his shares but any debts he could still claim for.

He could also now sell those shares to another party so get some money back that way.

I top financial guy said to me that you have to ask yourself if you think he put the money in as a real supporter of the club in 2009 or did he see it as a safe haven while the banks and financial institutions around the world were going bust?

Time will tell especially if we are struggling with the costs of the amex. What would YOU do if you found that money you lent the club might be lost?

 

[Blue Valkyrie]

Re: We are in finacial trouble!

It would not be hard to blow the old sponsorship deal out the water,lets say we saved 1 million on wages,we get an extra million from amex and we make an extra 20k off the caterers that leaves a shortfall of 5,980,000 before we break even a loss of 21.980,000 over three years

You forget the 8000 extra seats installed since the 9million loss.

 

[surlyseagull]

There is not a new business around that wants to show a profit to the good old tax man for the first few years at least ,it would be financial folly and they would have been well advised not to ,they want to invest in the infrastructure of the club as oppose to paying it in tax .As for this secret so called accountant risking all for someone ..... well there goes that flying pig again .

 

[nwgull]

We are in finacial trouble!

You forget the 8000 extra seats installed since the 9million loss.

Good point. Those losses are from the season when we 'only' had 18.5k season ticket holders and average gates of about 20k.