Blades secure loan against Prem TV money

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Mario1889

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As per the title, it seems we’ve taken a loan out against the Prem tv money right up until 2023.

I’m not even going to pretend I understand the ins and outs of this, just sharing to see if anyone can shed any light on this.

If we go down, does this mean that’s our parachute payments gone?
 

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Tarqs

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Strange considering there will be no Premier league tv money.... However if a bank has authorised it, it's on them (the TV money is basically the collateral I presume).

Strange for a bank to do this.
 

Mario1889

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Strange considering there will be no Premier league tv money.... However if a bank has authorised it, it's on them (the TV money is basically the collateral I presume).

Strange for a bank to do this.
Those were my thoughts too.

I hope it’s not a loan against the parachute payments.
 

BanderSerge

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Strange considering there will be no Premier league tv money.... However if a bank has authorised it, it's on them (the TV money is basically the collateral I presume).

Strange for a bank to do this.
we get £100m spread over the next three seasons, if we go down.
 

Mario1889

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THat's my understanding, the article is misleading otherwise. That said, bit of a schoolboy error for Mr Price of Football.
So this means that we intend to spend our parachute payments before we go down?

I’m not sure I like the sound of that, could we be using the money to give Wilder one last crack at staying up by spending in the JTW?

I’m not sure what else the money could be being spent on. Would seem one hell of a gamble.
 

Flatulent_Bob

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Given it says renew, could it not be an alteration to an existing agreement given our current situation?
 

Bladesince59

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As per the title, it seems we’ve taken a loan out against the Prem tv money right up until 2023.

I’m not even going to pretend I understand the ins and outs of this, just sharing to see if anyone can shed any light on this.

If we go down, does this mean that’s our parachute payments gone?
It means the Prince has no money
 

Tezza1889

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It means the Prince has no money

Which we all kinda knew already, and we all knew we'd be loaning against future income, we weren't bothered last season for obvious reasons.

We are now, and we should be, our only strategy was to think long term and that means doing a Burnley if the worse comes to the worse, hence why I've been banging the drum for CWAK regardless of results..

Stick together, survive, or come back stronger... Stick together..
 

varkanoid

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Doesnt the Premier League TV contracts change next season. I thought ITV had won it back off BBC again might be wrong you never know whats happening.
 

Blade.com

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Which we all kinda knew already, and we all knew we'd be loaning against future income, we weren't bothered last season for obvious reasons.

We are now, and we should be, our only strategy was to think long term and that means doing a Burnley if the worse comes to the worse, hence why I've been banging the drum for CWAK regardless of results..

Stick together, survive, or come back stronger... Stick together..
First rule of business. Never use your own money. Use someone else's.
 

gordoncharles

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I think we're buying Hillsborough from Chansiri's loan company
First rule of business. Never use your own money. Use someone else's.

First rule of football ownership: You'll have to use a shed load of your own money
 

Tezza1889

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First rule of business. Never use your own money. Use someone else's.


We've all read the court case, the club was on its arse so bad that the prince was seen as a gamechanger by the board back then, then it came to borrowing from bin laden and other different scales of embarrassment.

fact, fiction or rumours and crazyness aside, we sold players to stay afloat while the Prince was on board..
 

Pedro Verde

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then it came to borrowing from bin laden and other different scales of embarrassment.

we sold players to stay afloat while the Prince was on board..

Whats emabarrassing about borrowing money from a financial institution
We sold players as we were in L1 for 6 years running a Championship budget

What players have we sold since we got promoted to the Championship that Wilder wanted to keep ?
 

Greg.

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If anyone fancies actually reading it
There's a clause in there about being relegated (6.4)
 

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Blade58

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If anyone fancies actually reading it
There's a clause in there about being relegated (6.4)
Had a read of that thanks

Am I right in saying that, this is the same loan that HRH referred to in his last on line Q & A session we could watch, where he mentioned that relegation would impact upon himself personally with respect to taking out the loan? I see that as he is acting as Guarantor if that is the correct way of describing it. I'm no legal Eagle as you can tell.

Hopefully Sean Thornton will be able to clarify
 

Scarebus

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If anyone fancies actually reading it
There's a clause in there about being relegated (6.4)

Basically, if you get relegated don't do anything stupid and keep paying what you owe.
 

Booker4

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Irrespective of the article one thing we do have is young and sellable assets which will command interest, either this summer if we go down or over the next few seasons if we don't bounce back. Im referring to the likes of Brewster, RND, Coulibaly, Bogle, Berge, Ramsdale and O'Connell - not so young as others but desireable.

That's not to say that I want us to lose any of the above, but it's football and we'll sell players to move on and then re-invest as we did with the DCL and Che monies, albeit they were undersold because we were on League One.

If you look at many other relegated clubs they come down with expensive older players who don't want to go anywhere or nobody wants them and they're nothing special anyway. Stoke as an example.
 

LS16Blade

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Many football clubs have entered these sort of arrangements with finance houses in order to have the money that is in pipeline from TV companies, in their hands sooner so that they can spend it now rather than wait for it to actually land in the account. The TV companies pay by periodic instalments rather than up front. When the scheduled instalments are paid to the clubs they then get paid over to the relevant Finance House to clear the loan.

The Australian outfit that we appear to be using is the same one that a number of Premier League clubs use. Leicester City have had similar arrangements with this Finance House for years, and earlier just this week announced that they had extended one of their agreements with them.

For instance, it is understood that last year,Leicester wanted to have the Chilwell transfer monies in their hands immediately rather than wait for it to dribble in in instalments from Chelsea. They, therefore, got the money from the Finance House and the Chelsea instalments will presumably be re-directed to the Finance House in due course, together with what else has to be paid under the terms of the agreement.
 

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