Barry Sanchez Posted 17 March, 2013 Share Posted 17 March, 2013 £60 Million from Sky for next season, they have used the money to ease the interest and lower their £70 Million owed to the bank, should this practice be allowed? Should clubs spend what they have not got yet? This is one of the reasons I believe the premiership will eventually eat itself, its completely unsustainable. Link to comment Share on other sites More sharing options...
Saint Garrett Posted 17 March, 2013 Share Posted 17 March, 2013 How? They don't get the money until next season? Link to comment Share on other sites More sharing options...
FloridaMarlin Posted 17 March, 2013 Share Posted 17 March, 2013 They and their bankers must assume they are staying up. Link to comment Share on other sites More sharing options...
JerryH Posted 17 March, 2013 Share Posted 17 March, 2013 Hi These loans to football clubs are like a mortgage - have the money today pay back later - the guarantee for the lender is the future TV money that the football club will receive If you read the same article (Mail On Sunday 17 March 2013) it says that Saints and Everton have already created a similar arrangements - probably if true a good way to help cash flow without goinh through the hoops with an Englsih Bank Link to comment Share on other sites More sharing options...
Saint Billy Posted 17 March, 2013 Share Posted 17 March, 2013 Perhaps they have borrowed from another bank on the basis of the tv money coming to pay off present banks debt that seems to be the way these days of anarchic football financing. Hope they get dragged into relegation and go down, that'll be interesting. Link to comment Share on other sites More sharing options...
Tokyo-Saint Posted 17 March, 2013 Share Posted 17 March, 2013 Can't they just consolidate all of their loans into one larger loan with affordable easy monthly paymentS?* *your life is at risk if you do not maintain payments, based on the bank of England base rate with an APR of 3247258666%, under written by the bank that like to say yes. Link to comment Share on other sites More sharing options...
Barry Sanchez Posted 17 March, 2013 Author Share Posted 17 March, 2013 Hi These loans to football clubs are like a mortgage - have the money today pay back later - the guarantee for the lender is the future TV money that the football club will receive If you read the same article (Mail On Sunday 17 March 2013) it says that Saints and Everton have already created a similar arrangements - probably if true a good way to help cash flow without goinh through the hoops with an Englsih Bank Very dangerous, why are we doing that? I thought we were cash rich? Link to comment Share on other sites More sharing options...
Dr Who? Posted 17 March, 2013 Share Posted 17 March, 2013 Hi These loans to football clubs are like a mortgage - have the money today pay back later - the guarantee for the lender is the future TV money that the football club will receive If you read the same article (Mail On Sunday 17 March 2013) it says that Saints and Everton have already created a similar arrangements - probably if true a good way to help cash flow without goinh through the hoops with an Englsih Bank Good job I never believe the daily mail then! We are not doing this! Link to comment Share on other sites More sharing options...
david in sweden Posted 17 March, 2013 Share Posted 17 March, 2013 Very dangerous, why are we doing that? I thought we were cash rich? I think very few "businesses " are "cash-rich" Barry. I don't believe that there is a pile of readies in their bank in Switzerland, just waiting for Nicola to walk in with his empty brief case. BIG money is invested - elsewhere, and only used sparingly in extreme situations. Sure.. the Liebherrs have money but that doesn't mean they will actually spend it- but it's there in the case of emergencies. Link to comment Share on other sites More sharing options...
Saint_John Posted 17 March, 2013 Share Posted 17 March, 2013 Here is the article from the Daily Hate. http://www.dailymail.co.uk/sport/football/article-2294521/Nick-Harris-West-Ham-mortgage-60m-TV-money-bid-manage-debts.html It says they are the same BVI company that Saints & Everton have used and they have only used £10m of the max £16m they are currently allowed to use. I see no problem with it, there is probably a tax benefit if the truth was told. The greater concern to me is the 2nd piece about UEFA stopped ALL GAMES (any divisions) on nights when the CL games are being held. Link to comment Share on other sites More sharing options...
Gorgiesaint Posted 17 March, 2013 Share Posted 17 March, 2013 £60 Million from Sky for next season, they have used the money to ease the interest and lower their £70 Million owed to the bank, should this practice be allowed? Should clubs spend what they have not got yet? This is one of the reasons I believe the premiership will eventually eat itself, its completely unsustainable. Can you source that information? There was an interesting interview conducted by one of the West Ham websites with David Gold (I think, may have been Siullivan) just over a year ago in which he gave some pretty straight answers on their financial position including borrowing against future revenue. The article has subsequently been pulled, but would be interesting to get an update. So if you've read that in an article, can you provide a link? Link to comment Share on other sites More sharing options...
Barry Sanchez Posted 17 March, 2013 Author Share Posted 17 March, 2013 Can you source that information? There was an interesting interview conducted by one of the West Ham websites with David Gold (I think, may have been Siullivan) just over a year ago in which he gave some pretty straight answers on their financial position including borrowing against future revenue. The article has subsequently been pulled, but would be interesting to get an update. So if you've read that in an article, can you provide a link? Talksport were saying it this morning. Link to comment Share on other sites More sharing options...
Barry Sanchez Posted 17 March, 2013 Author Share Posted 17 March, 2013 I think very few "businesses " are "cash-rich" Barry. I don't believe that there is a pile of readies in their bank in Switzerland, just waiting for Nicola to walk in with his empty brief case. BIG money is invested - elsewhere, and only used sparingly in extreme situations. Sure.. the Liebherrs have money but that doesn't mean they will actually spend it- but it's there in the case of emergencies. So why only a few clubs that have used this system? Surely if its that good all would do it. Link to comment Share on other sites More sharing options...
Horton Heath Saint Posted 17 March, 2013 Share Posted 17 March, 2013 Lend us a tenner! Link to comment Share on other sites More sharing options...
SaintBobby Posted 17 March, 2013 Share Posted 17 March, 2013 Seems to me to be a sensible approach if the money is used to buy players, which costs a lot up front but the benefits of which are spread over several years. Surely, the Saints squad is now fairly "complete" if we do stay up - we may sign another defender, maybe another winger/attacker, but we aren't going to spend as much as we have this year, are we? So, if you're going to assume Rodriguez, Ramirez, Clyne etc require one off capital outlays, why not borrow? The important thing, of course, is to have a plan B if relegated - can you sell sufficient players at sufficient prices to pay back the loan? It seems to me that we can. Quite comfortably. Link to comment Share on other sites More sharing options...
JPTCount Posted 18 March, 2013 Share Posted 18 March, 2013 I think very few "businesses " are "cash-rich" Barry. I don't believe that there is a pile of readies in their bank in Switzerland, just waiting for Nicola to walk in with his empty brief case. BIG money is invested - elsewhere, and only used sparingly in extreme situations. Sure.. the Liebherrs have money but that doesn't mean they will actually spend it- but it's there in the case of emergencies. balderdash i know for a fact NC models himself on scrooge mcduck, dude dives into that pile every night when he gets home Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now