Board/Fan Relationship

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Comments

  • Slaven_Cups_His_BeardSlaven_Cups_His_Beard
    They were about halfway through building it
  • Slaven_Cups_His_BeardSlaven_Cups_His_Beard
    I’m happy for them to make money on their investment in the form of the clubs value.

    Right now they bought for around £50m and they put in another £50m to cover the shortfall in relegation which they helped cause and to cover loans to the club, on the second £50m they’re charging interest originally at 7% and just recently 3.5%, that isn’t right in my book and no other PL club where the owners lend money appear to do it.

    I’d of rather they took a salary than the £20m arched interest in 2020
  • Slaven_Cups_His_BeardSlaven_Cups_His_Beard
    That’s fine ;ok

    The value of the club is where they make their profit for me, not interest
  • TwistandShoutTwistandShout
    Whitehorsehammer said:

    8 years ago when they bought the club the Olympic Stadium hadn't even been built.

    But they knew it was being built for London 2012. As Slizzy said... On day 1 they said they wanted it!
  • TwistandShoutTwistandShout
    Either way you look at it. In 8 years they've been here.. We're still trying to stay up, still in debt, only now we don't own a stadium.
    So pardon me if I'm not their biggest fans ;wink
  • Pearces_Left_FootPearces_Left_Foot
    Slaven_Cups_His_Beard said:

    That’s fine ;ok

    The value of the club is where they make their profit for me, not interest

    Only if they sell, it which they have consistently denied that they want to do and they will pass it on to their kids
  • baracks_a_hammerbaracks_a_hammer
    TwistandShout said:


    So pardon me if I'm not their biggest fans ;wink

    And that’s even before one considers their four year managerial association with “you know who”
  • TwistandShoutTwistandShout
    baracks_a_hammer said:

    TwistandShout said:


    So pardon me if I'm not their biggest fans ;wink

    And that’s even before one considers their four year managerial association with “you know who”
    I still have nightmares to this day, Barracks ;ok
  • OldCastleSwiftOldCastleSwift

    west-ham-v-hull-sam-allardyce_3108627

    Somebody call...?
  • Slaven_Cups_His_BeardSlaven_Cups_His_Beard
    Pearces_Left_Foot said:

    Slaven_Cups_His_Beard said:

    That’s fine ;ok

    The value of the club is where they make their profit for me, not interest

    Only if they sell, it which they have consistently denied that they want to do and they will pass it on to their kids
    Well then they’ve left them a lovely asset haven’t they, either way the families will probably make money on it
  • TwistandShoutTwistandShout
    OldCastleSwift said:


    west-ham-v-hull-sam-allardyce_3108627

    Somebody call...?

    Screenshot_20180119-190723
  • baracks_a_hammerbaracks_a_hammer
    Coming back to the story that they would have bought the stadium but for Levy and co. The question I would ask is HOW would they have funded it? Because right now the transfer pot seems stretched when they haven’t had to pay for a stadium. Would they have injected their own wealth into the stadium?

    Because I can’t really lenders lending to an already debt saddled club to fund a stadium when the club itself frequently finds itself in the lower echelons of the Prem, with relegations thrown in every now and then... ;hmm
  • IronHerbIronHerb
    I guess you take out a mortgage like everyone else.
  • MrsGreyMrsGrey
    And the selling of the Boleyn would have cleared a lot of the debt, making a mortgage more feasible.
  • imagelostimagelost
    edited January 2018
    Like selling you home and then renting, and loaning the money to someone and charging them interest.
    Justa ;hmm
  • imagelostimagelost
    The tax payer ;biggrin
  • Slaven_Cups_His_BeardSlaven_Cups_His_Beard
    baracks_a_hammer said:

    Coming back to the story that they would have bought the stadium but for Levy and co. The question I would ask is HOW would they have funded it? Because right now the transfer pot seems stretched when they haven’t had to pay for a stadium. Would they have injected their own wealth into the stadium?

    Because I can’t really lenders lending to an already debt saddled club to fund a stadium when the club itself frequently finds itself in the lower echelons of the Prem, with relegations thrown in every now and then... ;hmm

    This is a great point, they’ve barely been able to keep the club functioning without the use of payday and overdraft facilities.

    How on earth were they going to find the coat of the stadium if they had bought it?

    They’ve put money in only when they had to, and then they charged interest.
  • Cuz1Cuz1
    Probably though the sale of assets
  • IronHerbIronHerb
    But 'owning' the stadium would make the club more valuable and even a more desirable proposition. By taking payday loans and overdrafts they have shown they are not afraid to borrow external money.
  • imagelostimagelost
    How much tv revenue coming
    ;jarvis
  • Pearces_Left_FootPearces_Left_Foot
    If we owned the stadium I am sure we would have a sponsor by now plus food money tours etc and I think our season tickets would have been more expensive and we might of had 66,000 seats aswell. But ifs all ifs and maybes as we don't own it.
  • Slaven_Cups_His_BeardSlaven_Cups_His_Beard
    edited January 2018
    Answered my own question, thanks to someone who knows about this stuff and the recent Moore report pages 55/56

    The club wasn’t going to buy the stadium with the first bid process, they were going to lease it for 150 years a joint venture with us putting in £20m, Newham £40m and government grant of £35m as the costs to do the conversion were set at £95m (how wrong was that!)

    We’d pay $100k a year rent (unless we finished higher than 10th then it went up) and we’d have to pay for all the running costs at the stadium but would get the naming rights and all the food/drink

    So, we were never going to own it. It was just a different deal. One that I was more in favour with at the start because we controlled the stadium.
  • Slaven_Cups_His_BeardSlaven_Cups_His_Beard
    IronHerb said:

    But 'owning' the stadium would make the club more valuable and even a more desirable proposition. By taking payday loans and overdrafts they have shown they are not afraid to borrow external money.

    Well that’s one way of looking at it! It also means by not owning it they didn’t have to find or secure the money themselves, this way the value of the club goes up and they’ve put no more in
  • MrsGreyMrsGrey
    The value of the club doesn't go up as much though, on account of it doesn't have that big asset.
  • imagelostimagelost
    edited January 2018
    Grasssssshoppper
    When you can, walk, rice paper with,
    Quarter tip, metal studded, boots on
    Then you may eave
    ;bowdown
  • claretandblueskyclaretandbluesky
    Interestingly regarding interest on loans it was reported during the week when writing about a possible Newcastle take over that even Mike Ashley doesn't charge interest on loans made to the club out of his own pocket, and to find a more maligned owner would be difficult. Apparently his loans total £129m and are all interest free.
  • Slaven_Cups_His_BeardSlaven_Cups_His_Beard
    The way it should be
  • ASLEFshruggedASLEFshrugged
    Let's be honest, the Geordies hate Ashley enough already, if he charged interest on his loans they'd be crowds storming up Bigg Market with pitchforks and torches (in shirts, no jackets).
  • PrestonHammerPrestonHammer
    Oh, I'm pretty sure some of them would be topless ASLEF.
  • grey_til_I_dyegrey_til_I_dye
    I don't think so, but the catering bills are eye-watering...

    If he gets his £350m, he would be turning a profit of over £100m, so not too shabby.

    Separately, he seems to have got his trotters in a lovely property deal that will ensure Newcastle can never increase the ground capacity:

    https://www.themag.co.uk/2017/03/council-approve-mike-ashley-property-development-ends-hopes-expanding-st-james-park-newcastle-united/
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