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Author Topic: New beginnings - Fresh Start  (Read 402485 times)
Nemo
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« Reply #2910 on: Monday, March 13, 2023, 16:32:19 »

A charge is the security part of a secured loan. It's part of the documentation relating to a secured loan for transfer funding (specifically, it mentions transfer funding), I can't quite work out what it's secured on though from that, it seems to be some offices in London rather than specifically club property.

The loaning company is this lot - https://timefinance.com/
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The Artist Formerly Known as Audrey

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« Reply #2911 on: Monday, March 13, 2023, 16:32:32 »

Think so.

Axis has 3ntered into an agreement with TIFL (Time Invoice Finance Limited) for a Football Transfer Funding Agreement and using the property mentioned as collateral.

Looks like a war chest for next season.
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Bogus Dave
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« Reply #2912 on: Monday, March 13, 2023, 16:51:47 »

Given the timing itís likely to be a credit provider for season tickets, with axis acting as a guarantor and putting up (what I assume) is their Uk Offices as collateral
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The Artist Formerly Known as Audrey

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« Reply #2913 on: Monday, March 13, 2023, 16:53:07 »

This financing is known as Football Receivables Finance. Used widely. Hereís @n [email protected],e.

Ď In the US for example, Packers spent $420 million on expenses in 2018, out of which $213 went to the players. They spent $208 million on marketing, administration, and team-related costs, and stadium upkeep, and the situation is not different from the European football leagues as well, when it comes to overspending. However, private lenders and sponsors have helped the football sector to unlock the full potential of their assets, such as player transfers, existing deals, and contracts.í
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« Reply #2914 on: Monday, March 13, 2023, 17:05:57 »

This probably needs some open and honest communication given its a public document.

Looks like Clem is raising capital by mortgaging business premises, and that he's getting charged 4% above base for the pleasure.

Can't see an amount, can't work out if he's taking the risk or FC or both. Can't tell if this is good, bad, risky or fine.
« Last Edit: Monday, March 13, 2023, 17:44:21 by Batch » Logged
JanAirplaneMan

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« Reply #2915 on: Monday, March 13, 2023, 17:12:04 »

This probably needs some open and honest communication given its a public document.

Looks like Clem is raising capital by mortgaging business premises, and that he's getting charged 4% for the pleasure.

Can't see an amount, can't work out if he's taking the risk or FC or both. Can't tell if this is good, bad, risky or fine.
Its 4% on top of the bank interest rate so more like 8%
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« Reply #2916 on: Monday, March 13, 2023, 17:46:47 »

Amended my post Jan.

Are you any the wiser? To the untrained eye it could look like we have cash flow/funding issues and are borrowing our way out at clems risk.

But it's an untrained eye so very easy to get it totally wrong
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Pookemon

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« Reply #2917 on: Monday, March 13, 2023, 18:25:36 »

Amended my post Jan.

Are you any the wiser? To the untrained eye it could look like we have cash flow/funding issues and are borrowing our way out at clems risk.

But it's an untrained eye so very easy to get it totally wrong

This looks perfectly normal to me and simply an 'overdraft' type facility to manage working capital.

An invoice finance agreement is where a company has issued sales invoices to customers but has not yet received the cash from them, normally as it's not due yet.     The bank lends the company a %age of the invoice value and the customer pays the bank directly.   The bank sends any surplus cash over when it receives it.
Interest is paid only on the borrowed bit.

Clam has used one of his properties as security to sweeten the deal for the bank.

These types of agreements are common and cheaper than a bog standard unsecured overdraft facility
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« Reply #2918 on: Monday, March 13, 2023, 18:33:04 »

Thanks. Normally to cover short term cashflow issues then.
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RobertT

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« Reply #2919 on: Monday, March 13, 2023, 19:01:36 »

Given the reference to Transfers, would this be us trying to get payment for the outgoing transfers ahead of those staged payments from the buying clubs coming through?  It's fairly secure income, just currently spread out, so this works as a way of accessing it sooner with a small % charge applied to the financer.
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The Artist Formerly Known as Audrey

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« Reply #2920 on: Monday, March 13, 2023, 19:03:18 »

Would have thought the fact itís called Football Transfer Funding Agreement gives it away.
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« Reply #2921 on: Monday, March 13, 2023, 19:39:31 »

Given the reference to Transfers, would this be us trying to get payment for the outgoing transfers ahead of those staged payments from the buying clubs coming through?  It's fairly secure income, just currently spread out, so this works as a way of accessing it sooner with a small % charge applied to the financer.

Confirmed as that

The question is why we need to. Transfer kitty or cash flow
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DMC

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« Reply #2922 on: Monday, March 13, 2023, 19:46:08 »

He did also say we are likely to be losing 500k a year
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STFC_Manc

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« Reply #2923 on: Monday, March 13, 2023, 19:50:16 »

He did also say we are likely to be losing 500k a year

I thought that was if prices were kept at today's prices and not increase, we would lose c£500k of revenue.
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Pookemon

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« Reply #2924 on: Monday, March 13, 2023, 20:07:36 »

I thought that was if prices were kept at today's prices and not increase, we would lose c£500k of revenue.
If prices and the number of tickets sold stays the same, so will the revenue.

I'm pretty sure he said we'd lose c£500k this year
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