They're talking about us

[Brown Nose]

Looks like we've taken out a loan in lieu of transfer money owed to us by Chelsea.

https://find-and-update.company-information.service.gov.uk/company/04593477/filing-history

 

[camberwell fox]

£46 million.

 

[Volpone]

Looks like we've taken out a loan in lieu of transfer money owed to us by Chelsea.

https://find-and-update.company-information.service.gov.uk/company/04593477/filing-history

That doesn't make sense. We've taken out a loan for £46 million instead of money owed to us by Chelsea?

Why don't Chelsea pay us what they owe us and then we don't need to take out a loan?

 

[jb5000]

That doesn't make sense. We've taken out a loan for £46 million instead of money owed to us by Chelsea?

Why don't Chelsea pay us what they owe us and then we don't need to take out a loan?

Chelsea have agreed to pay that money over a couple of years. We want it now. Given the 'football creditors' rule, I would think that loan is the safest financial product you'll be able to find - but why do I have a nagging feeling that the interest payable on the loan won't reflect this?

 

[Lako42]

I reckon we're ****ed

 

[Blaarev]

I reckon we're ****ed

That’s what 50p beers do to you.

 

[Micky]

I reckon we're ****ed

Or maybe we want to use some of that £46 million in the January transfer window.

 

[Lako42]

Or maybe we want to use some of that £46 million in the January transfer window.

Suggests to me we aren't structuring our deals very well.

Paying money to unlock our own money.

 

[pork pie fox]

Suggests to me we aren't structuring our deals very well.

Paying money to unlock our own money.

Don’t know. Could be that it saves us money in the long run though, by being at a lower repayment rate than the amount we save by being able to pay for something up front as a result of having the cash?

 

[alex]

Why on earth would we do this if we weren’t under financial pressure?

 

[tedfoxxx]

Why on earth would we do this if we weren’t under financial pressure?

Perhaps a certain someone is around the corner? That’s the word on the street.

 

[pork pie fox]

Why on earth would we do this if we weren’t under financial pressure?

Because we want access to cash that we’re owed so that we can spend it now? I don’t know, but invoice finance is a thing. I’ve never used it for our business, but I know some that do.

 

[FryattFox]

Or maybe we want to use some of that £46 million in the January transfer window.

If that were the case, why would we take out the loan now? We could have set up the loan facility and only drawn down on it if we find a transfer we want to buy AND we can't negotiate similar terms to Chelsea with the selling club (i.e. cash deferral).

 

[Fox Fan]

Why on earth would we do this if we weren’t under financial pressure?

There's probably only 3 or 4 games before the January transfer window opens.

 

[City Fan]

As I’ve said before, we’ve been catastrophically mismanaged by Top and the board. We’ll probably stay up this season, but make no mistake we’re on a massive downward spiral.

Top needs to sell up to someone who knows how to run a football club.

 

[Rock Fox]

There’s this one story about Robbie Savage…

Only the one?!

 

[H T B]

“….catastrophically mismanaged…..”

For ****s sake!

 

[Blue Maniac]

Only the one?!

I do not pretend to know the exact volume and variety of outrageous anecdotes people who know him could tell about Robbie Savage, but I do know that the story which will survive long after we are all gone and forgotten, the one which will surely be recounted in great tomes of historical account in the distant future, will be the saga of the missed phone call from Martin O’Neill.

 

[Graz]

I reckon this kind of loan is probably pretty common place with how transfer deals are structured now.

We just don't have a BN for the other clubs on here searching for obscure financial information.

The odd thing here is that I thought it was widely reported at the time the Fofana deal went through was that part of the reason it took so long was because we negotiated hard to get as much up front fee as possible, and that we'd been successful in that eventually - but clearly not if we're now taking a loan to unlock that money earlier than its coming from Chelsea.

 

[pork pie fox]

I reckon this kind of loan is probably pretty common place with how transfer deals are structured now.

We just don't have a BN for the other clubs on here searching for obscure financial information.

The odd thing here is that I thought it was widely reported at the time the Fofana deal went through was that part of the reason it took so long was because we negotiated hard to get as much up front fee as possible, and that we'd been successful in that eventually - but clearly not if we're now taking a loan to unlock that money earlier than its coming from Chelsea.

Looking at that document, it reads to me like we got a third at the time, followed by a third in February and a third in August. Maybe that is relatively quick for the money to come through, maybe it isn’t. I don’t know how that compares to other transfers to be honest.