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Author Topic: New beginnings - 25% Truth, 80% Bollocks  (Read 1172665 times)
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« Reply #2925 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 #2926 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 #2927 on: Monday, March 13, 2023, 18:33:04 »

Thanks. Normally to cover short term cashflow issues then.
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« Reply #2928 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 #2929 on: Monday, March 13, 2023, 19:03:18 »

Would have thought the fact it’s called Football Transfer Funding Agreement gives it away.
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« Reply #2930 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

« Reply #2931 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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« Reply #2932 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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« Reply #2933 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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« Reply #2934 on: Monday, March 13, 2023, 20:29:23 »

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

Yes we would lose the £500k in extra revenue that raising prices would give us. Vic's question was if we didn't raise prices what financial state would we be in?
« Last Edit: Monday, March 13, 2023, 20:36:41 by STFC_Manc » Logged
JanAirplaneMan

« Reply #2935 on: Monday, March 13, 2023, 20:50:33 »

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

I think others and Rob have already answered this but essentially revenue owed to us from player sales in the future have been paid to us now through this finance agreement,  the same premier league clubs do related to getting access to TV money early.  Pretty standard arrangement,  money will no doubt be used to plug 500k loss this season and for player recruitment
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« Reply #2936 on: Monday, March 13, 2023, 21:10:01 »

Quote from: DMC
He did also say we are likely to be losing 500k a year

yeah sorry, didn't have time to write that before fat camp .

I guess I'm a little disappointed we have to rob Peter to pay Paul (at 8%) with the transfer activity and managerial compensations. We are a lot further away from sustainability than I thought

I'm not and didn't mean to imply anything fishy. It is what it is, a bit more breathing space to keep going while we sort out a longer term plan
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« Reply #2937 on: Monday, March 13, 2023, 21:39:15 »

I see spreadsheet has deleted his Twitter….
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« Reply #2938 on: Monday, March 13, 2023, 21:42:17 »

yeah, went a few days ago.

Don't really blame him. Not really a fan of tagging him directly to call him a cunt in 100 inventive ways.

I'm a hypocrite though. I do it all the time to various Tory members of parliament
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« Reply #2939 on: Monday, March 13, 2023, 21:47:26 »

I think others and Rob have already answered this but essentially revenue owed to us from player sales in the future have been paid to us now through this finance agreement,  the same premier league clubs do related to getting access to TV money early.  Pretty standard arrangement,  money will no doubt be used to plug 500k loss this season and for player recruitment

Is that like factoring invoices?
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