[Football] Zaha watch - *** The SEGW finally managed to escape***

[LlcoolJ]

*sigh*

You Palace dimbots can NEVER get your heads around the significant fact that the vast, vast majority of this interest free debt is owed not to Barclays, or Citibank, or Agilo. Its owed to a certain T. Bloom, esq. Do you know who that is ? Because it makes a really, really important difference.

For the hard of thinking, once again, he is the owner of BHAFC, a lifelong fan and 3rd generation Bloom on the board. He's a billionaire. He doesn't take a salary from the club. He's not after repayment, he's not going to call the loan in. The money was not all spunked on players wages, agents, transfer fees. It was INVESTED into BHA in order to take us from playing at a sports centre and training in a park, to take us into a modern stadium and training ground, to put us on a stable footing so we can compete at the top level, which we are now able to do.

Do you understand now ? Or do you need someone to draw you a picture ?

It's the usual straw clutching mate.

"Ooh, you've got loads of debt"

"Yeah, all to our owner who's a fan and doesn't want the money back, so it's not debt. Plus he's paid for a STADIUM and a training ground that both piss all over anything you'll ever have. And did I mention, the money is all owed to HIM? So he owes it to himself. Is this sinking in yet?"

"But you've got loads of debt..... but..... oh...."

Can't expect Palace fans to understand anything about football, money, or the relationship between football and money though. It's like trying to teach a cow Russian.

 

[Uh_huh_him]

Was looking at the accounts and wondering why creditors had gone up so much. A new thing this year is that Palace appear to have a rolling £40m loan against future PL income which is repaid and then borrowed again.

I'm no expert like El Pres but this doesn't seem to be the type of action that a well run, financially secure club would have to take?

Along with £6m borrowed against ticket sales it just screams out SKINT to me.

Perhaps our resident football finance DULLARD could explain further?

I recall something about them also owing other clubs some of the transfer fees paid out.
I guess that is probably paid for in the annual loan against revenue though.

Edit: Nope just checked they have a £49m debt on transfer fees. £40m of which is due to be paid back this year.

 

[LlcoolJ]

Lots of clubs borrow money in lieu of Premier League monies.
I’m sure El Pres said that Bloom borrowed money from Barclays prior to receiving your first instalment from the PL.
Now you’re receiving BIG money, will any be put towards the 2nd biggest debt in English football ?

My word, you're really stupid.

 

[Uh_huh_him]

It's the usual straw clutching mate.

"Ooh, you've got loads of debt"

"Yeah, all to our owner who's a fan and doesn't want the money back, so it's not debt. Plus he's paid for a STADIUM and a training ground that both piss all over anything you'll ever have. And did I mention, the money is all owed to HIM? So he owes it to himself. Is this sinking in yet?"

"But you've got loads of debt..... but..... oh...."

Can't expect Palace fans to understand anything about football, money, or the relationship between football and money though. It's like trying to teach a cow Russian.

If I remember El Pres's deconstruction of their last financials correctly, their super fan chairman actually contributes to their debt by taking the equivalent of a premier league player's annual wage from the club!

 

[Uh_huh_him]

Lots of clubs borrow money in lieu of Premier League monies.
I’m sure El Pres said that Bloom borrowed money from Barclays prior to receiving your first instalment from the PL.
Now you’re receiving BIG money, will any be put towards the 2nd biggest debt in English football ?

Tony Bloom is an intelligent man.
He's much happier converting the debt into shares in the club.

Either the money is a gift - or he thinks he will eventually make money selling it on to someone else.
Either way it's not a debt in the same way that Crystal Palace's £49m debts for unpaid transfer fees are.

 

[LlcoolJ]

If I remember El Pres's deconstruction of their last financials correctly, their super fan chairman actually contributes to their debt by taking the equivalent of a premier league player's annual wage from the club!

The accounts basically say that "The Directors" put more in than they take out.

Well, obviously, as the club is losing £36m a year so someone has to put the cash in.

It's not Super Fan Steve though. He's taking his cut and getting the yanks to pay. For now.

 

[Easy 10]

It's the usual straw clutching mate.

"Ooh, you've got loads of debt"

"Yeah, all to our owner who's a fan and doesn't want the money back, so it's not debt. Plus he's paid for a STADIUM and a training ground that both piss all over anything you'll ever have. And did I mention, the money is all owed to HIM? So he owes it to himself. Is this sinking in yet?"

"But you've got loads of debt..... but..... oh...."

Can't expect Palace fans to understand anything about football, money, or the relationship between football and money though. It's like trying to teach a cow Russian.

Indeed. They don't get it. They'll never get it. The goonsquad try to use it as a stick to beat us with, but its basic wilful ignorance and crass stupidity on their part to continue to misunderstand the fundamental difference between owing money to an outside financial institution, and owing it to a rich benefactor who doesn't charge interest and isn't "in it" for the money.

You can't cure stupid though.

 

[LlcoolJ]

Wan-Bissaka would have no sell-on for another club so the sale proceeds would be in full. If they want money in the bank, he's the one to go.

Yep, and it's not want money in the bank, it's "need". Quite clearly.

 

[Uh_huh_him]

Indeed. They don't get it. They'll never get it. The goonsquad try to use it as a stick to beat us with, but its basic wilful ignorance and crass stupidity on their part to continue to misunderstand the fundamental difference between owing money to an outside financial institution, and owing it to a rich benefactor who doesn't charge interest and isn't "in it" for the money.

You can't cure stupid though.

It's more than just that though. He's also very astute in how and where that money gets spent.
It's not just spunked up the wall hoping to stay on the gravy train for as long as possible.

There is no plan B with Palace. What happens when it stops?

 

[LlcoolJ]

Indeed. They don't get it. They'll never get it. The goonsquad try to use it as a stick to beat us with, but its basic wilful ignorance and crass stupidity on their part to continue to misunderstand the fundamental difference between owing money to an outside financial institution, and owing it to a rich benefactor who doesn't charge interest and isn't "in it" for the money.

You can't cure stupid though.

I always see Palace fans talking about football finances as Indiana Jones falling off the bridge.

But without the whip.

 

[Bevendean Hillbilly]

Indeed. They don't get it. They'll never get it. The goonsquad try to use it as a stick to beat us with, but its basic wilful ignorance and crass stupidity on their part to continue to misunderstand the fundamental difference between owing money to an outside financial institution, and owing it to a rich benefactor who doesn't charge interest and isn't "in it" for the money.

You can't cure stupid though.

Here Endetn the lesson.

 

[LlcoolJ]

It's more than just that though. He's also very astute in how and where that money gets spent.
It's not just spunked up the wall hoping to stay on the gravy train for as long as possible.

There is no plan B with Palace. What happens when it stops?

I'm no soothsayer, and I've pointed out on lots of occasions that I'm not an expert in football accounts.

But I did predict that Palace would be losing a HUGE amount of money in this set of accounts because it was bloody obvious.

They lost money in 2017 but it was covered by player sales. They then ejaculated tons of cash on wages, new contracts, sold nobody because, Tumble aside, NOBODY would want their players (and Mr T was ridiculously overpriced, sell on money to Man United aside).

It was basic maths to say "this is unsustainable and it won't work". And here we are.

How can a middling, always threatened by relegation, we're ok cos we have one good player, Premier League club get themselves into a situation where they LOST 36 MILLION POUNDS?

How is that possible? Steve Parish is a hero to lots of Palace fans, I think he might end up being a Brighton hero.

I suppose I don't care how they've done it, but I love it. They're f*cked unless someone comes in with MILLIONS.

P-Diddy isn't going to come back.

 

[PILTDOWN MAN]

What the goons fail to see is most of the so called debt owed to Mr Bloom is not owed by the football club anyway as there is a stadium company that rents the stadium and training complex to the club. Most of the debt is owed by the stadium company.

All owned by the person who the self financed debt is owed too.

 

[Bevendean Hillbilly]

What the goons fail to see is most of the so called debt owed to Mr Bloom is not owed by the football club anyway as there is a stadium company that rents the stadium and training complex to the club. Most of the debt is owed by the stadium company.

All owned by the person who the self financed debt is owed too.

It’s been pointed out to them, by us, hundreds of times. We’ve had Kieran, Bozza, and any number of financial experts we have in our ranks...but...no..the Jolly Jesters STILL don’t understand.

Perhaps if we drew a picture in crayon on toilet paper it might help?

 

[Easy 10]

Here Endetn the lesson.

Sadly not.
As sure as eggs is eggs, a slack-jawed dribbling semi-lobotomised Palace goon will be on here later, or on BBS, spouting more repetitive on-a-loop mindless gibberish about 'the second largest debt in english football' and signing it off with 'mind the gap', while we all stifle another yawn.

They seem to believe that if they spout their ignorant bollocks on a loop for long enough, it'll eventually come true. Their catastrophic cretiny is genuinely endless.

 

[Bevendean Hillbilly]

Sadly not.
As sure as eggs is eggs, a slack-jawed dribbling semi-lobotomised Palace goon will be on here later, or on BBS, spouting more repetitive on-a-loop mindless gibberish about 'the second largest debt in english football' and signing it off with 'mind the gap', while we all stifle another yawn.

They seem to believe that if they spout their ignorant bollocks on a loop for long enough, it'll eventually come true. Their catastrophic cretiny is genuinely endless.

Were you impressed that I posted in Dutch?

 

[Easy 10]

Were you impressed that I posted in Dutch?

For shure.

 

[Se20]

I also noticed Bloom LENT the club another £32 mill last season, is there no end to this mans generosity?

 

[LlcoolJ]

I also noticed Bloom LENT the club another £32 mill last season, is there no end to this mans generosity?

No, there isn't. Next question.

Where's your next £36m just to survive coming from btw? Will you bump up your borrowing against next year's PL money to £75m?

What's the interest on that btw? Where's the ringfenced £100m for the turd polishing project?

We can play this game forever and you'll still just look like a financially illiterate tit.

 

[Se20]

No, there isn't. Next question.

Where's your next £36m just to survive coming from btw? Will you bump up your borrowing against next year's PL money to £75m?

What's the interest on that btw? Where's the ringfenced £100m for the turd polishing project?

We can play this game forever and you'll still just look like a financially illiterate tit.

Who am I to argue with NSC’s self appointed know it all.