We are in Financial Trouble!

[Miffy]

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?

If he wanted a more secure investment he certainly wouldn't have been advised that a football club is a good place to invest, especially interest free and producing all risk with no reward. The man has complex property investments around the world - if he wanted to keep his money out of the banks he would have just expanded that business as far less risky. I'd say its genuine supporter.

The conversion from debt to capital would have been done with very high level tax & financial advice involved. It may be for the club's benefit but it could just as easily be that it is related to personal tax & IHT planning for TB.

 

[piersa]

What a load of idle gossip. were you told over a hedge?

 

[Westdene Wonder]

Very worrying, Bloom makes his cash by Gambling, we all know that in the end The Bookie wins.

 

[dougdeep]

Very worrying, Bloom makes his cash by Gambling, we all know that in the end The Bookie wins.

Absolute nonsense. He's a property developer, gambling is his hobby.

 

[Blue Valkyrie]

According to the Peterborough chairman, Tony has 'deep, deep pockets'.

We don't know for sure, but..

Please Don't Worry About Palace Mischief.

 

[Driver8]

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?

What have banks got to do with anything? As far as I am aware we have no bank borrowing and aren't looking for any.

Why is he going to lose his money? Who do we owe money to other than him?

Sound like a load if old bollocks to me.

 

[Justice]

Absolute nonsense. He's a property developer, gambling is his hobby.

This is true

 

[Springal]

He makes pocket change gambling. He earnt his money by software FOR bookies & property more recently

 

[Tom Hark Preston Park]

Well, seems to all boil down to either

a) the Falmer business model is fatally flawed

or

b) the creative accountants are doing the totally legitimate job they are doubtless being paid extremely well to do

Know which option I think is the far more likely

 

[Dave the OAP]

We're doomed

 

[Blue Valkyrie]

Were loose.

 

[Seagull on the wing]

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.

Think that is why Palace are trying to sign 3 players on a free.....

 

[beorhthelm]

Absolute nonsense. He's a property developer, gambling is his hobby.

same thing?

 

[Chicken Runner61]

If he wanted a more secure investment he certainly wouldn't have been advised that a football club is a good place to invest, especially interest free and producing all risk with no reward. The man has complex property investments around the world - if he wanted to keep his money out of the banks he would have just expanded that business as far less risky. I'd say its genuine supporter.

The conversion from debt to capital would have been done with very high level tax & financial advice involved. It may be for the club's benefit but it could just as easily be that it is related to personal tax & IHT planning for TB.

Lets get a few things straight, I don't think we are in trouble but I don't think we are-will or ever going to make the vast amounts of money people think the ground makes on matchdays.

I think TB is a very rich shrewd man who thinks things through very carefully and plays his business dealings like a poker hand. I think he timed his entry back into the club perfectly and will time his exit perfectly as well.

Converting debt to capital is pretty straightforward and lots of people do it. You cant run businesses without banks these days especially if you have worldwide interests. You have to explain where the money is coming from to ensure it meets money laundering regulations. In 2009 lots of rich people moved vast amounts of money in to assets such as property especially into cast iron successful projects which I think the Amex should be one of.

It wasn't going to fail and there is no reason it should fail now. The trouble will some people on this board is they think that if a post doesn't agree with every point of their view of things that post must be against the club. A clever man like TB isn't going to keep ploughing money in to a pit no matter how deep his pockets are. If we were in trouble He would hold on to the stadium and other assets and let the separate club fail not the other way round, this makes perfect business sense so at this point there is nothing alarming in him doing this.


The time I would worry is if TB gave/sold control of the football club to someone else or sold the amex to another party/company to run it.

We are losing money and we will continue to do so until everything is in place but I think TB has every thing under control and why he employed Paul Barber to ensure we cope with the financials of running a successful sports business

 

[seagullsovergrimsby]

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

Paul Barber identified their job functions were superfluous as their tasks and responsibilities could be devolved to other managers at that level and below. Ken Brown as the managing director created these jobs when we moved across from Withdean to The Amex. Paul Barber took over the role as CEO from Martin Perry who stepped down and became an executive director. Martin Perry is set to retire next year once the training academy is completed.

 

[chucky1973]

not sure we are going to make the start of the season. doomed.

 

[Sam Ovett]

It's all Sandaza's fault

 

[seagullsovergrimsby]

It's all Sandaza's fault

Didn't he end up at Findus

 

[Miffy]

Lets get a few things straight, I don't think we are in trouble but I don't think we are-will or ever going to make the vast amounts of money people think the ground makes on matchdays.

I think TB is a very rich shrewd man who thinks things through very carefully and plays his business dealings like a poker hand. I think he timed his entry back into the club perfectly and will time his exit perfectly as well.

Converting debt to capital is pretty straightforward and lots of people do it. You cant run businesses without banks these days especially if you have worldwide interests. You have to explain where the money is coming from to ensure it meets money laundering regulations. In 2009 lots of rich people moved vast amounts of money in to assets such as property especially into cast iron successful projects which I think the Amex should be one of.

It wasn't going to fail and there is no reason it should fail now. The trouble will some people on this board is they think that if a post doesn't agree with every point of their view of things that post must be against the club. A clever man like TB isn't going to keep ploughing money in to a pit no matter how deep his pockets are. If we were in trouble He would hold on to the stadium and other assets and let the separate club fail not the other way round, this makes perfect business sense so at this point there is nothing alarming in him doing this.


The time I would worry is if TB gave/sold control of the football club to someone else or sold the amex to another party/company to run it.

We are losing money and we will continue to do so until everything is in place but I think TB has every thing under control and why he employed Paul Barber to ensure we cope with the financials of running a successful sports business

Ummm .. really not sure how that relates to any of my quoted post but ok?

 

[maltaseagull]

Think that is why Palace are trying to sign 3 players on a free.....

Palace are experienced in the way to get out of any financial obligations.Once they find that parachute payments aren't covering their costs administration solves their problems!