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Master Coin 25 Oct 19 10.33am
Originally posted by PA Isn’t £22m also the amount Chelsea want to for Batshuayi? Maybe that’s why we need the money now. But we don’t need the money now. We need it in just over two months time. So if it’s for Batshuayi then we’ve opted to pay 2 months interest on this transaction for no good reason. Sadly, it seems more likely it’s to settle current wages/creditors.
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Master Coin

25 Oct 19 10.33am

Originally posted by PA

Isn’t £22m also the amount Chelsea want to for Batshuayi? Maybe that’s why we need the money now.

But we don’t need the money now. We need it in just over two months time. So if it’s for Batshuayi then we’ve opted to pay 2 months interest on this transaction for no good reason.

Sadly, it seems more likely it’s to settle current wages/creditors.

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Midlands Eagle 25 Oct 19 10.34am
Originally posted by Master Coin If it was for January spending then just make this deal in Dec/Jan and start the clock on interest then. Only reason for doing it now is immediate liquidity issues. We don't know that the funds have been drawn down yet but if they have it's possibly to meet our own liabilities for players that we've bought on the never never like our two expensive purchases from Liverpool
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Midlands Eagle

25 Oct 19 10.34am

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Originally posted by Master Coin

If it was for January spending then just make this deal in Dec/Jan and start the clock on interest then.

Only reason for doing it now is immediate liquidity issues.

We don't know that the funds have been drawn down yet but if they have it's possibly to meet our own liabilities for players that we've bought on the never never like our two expensive purchases from Liverpool

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The Dolphin 25 Oct 19 11.17am
We must be in very poor financial shape if we need to "factor" our "invoices". We really should not have to do this. And all the while we offer Wickham and Benteke another contract for millions of pounds. All sounds very odd to me
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The Dolphin

25 Oct 19 11.17am

We must be in very poor financial shape if we need to "factor" our "invoices".
We really should not have to do this.
And all the while we offer Wickham and Benteke another contract for millions of pounds.
All sounds very odd to me

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Rudi Hedman Caterham 25 Oct 19 11.26am
Originally posted by The Dolphin We must be in very poor financial shape if we need to "factor" our "invoices". We really should not have to do this. And all the while we offer Wickham and Benteke another contract for millions of pounds. All sounds very odd to me Benteke and Wickham decisions look to me because the US shareholders haven’t had any buyers yet. While those decisions will probably be poor ones over time, and we won’t have to wait too long to find out, they’re cheaper in the near future than buying strikers. I definitely do not agree with it but it looks as though that’s the reason. Pretty obvious I’d have thought. COYP
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Rudi Hedman

Caterham 25 Oct 19 11.26am

Originally posted by The Dolphin

Benteke and Wickham decisions look to me because the US shareholders haven’t had any buyers yet. While those decisions will probably be poor ones over time, and we won’t have to wait too long to find out, they’re cheaper in the near future than buying strikers. I definitely do not agree with it but it looks as though that’s the reason. Pretty obvious I’d have thought.

COYP

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JohnB 25 Oct 19 4.21pm
I wonder the cost to Palace for taking an advanced payment from the bank would be. We refused offers from say Arsenal for Zaha due to their payment terms, but if this kind of thing is available to us and doesn't cost the world, then that should negate this kind of issue going forward?
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JohnB

25 Oct 19 4.21pm

I wonder the cost to Palace for taking an advanced payment from the bank would be.

We refused offers from say Arsenal for Zaha due to their payment terms, but if this kind of thing is available to us and doesn't cost the world, then that should negate this kind of issue going forward?

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est1905 25 Oct 19 5.38pm
Originally posted by topcat Or, it shows that we aren't cash rich but need cash for spending in the January window. I had never heard of this before but looking into it, it seems to be a practice used by many clubs and should be at a very reasonable interest rate. Certainly nothing to be worried about. I am a lot less concerned at this than if we were borrowing money against next seasons tv income, or even the next two or three seasons. Many clubs have done this and got burnt. If you get relegated the bank aren't suddenly going to say don't worry about it. I know Everton did this under Kenwright who managed to offload the club and got away with it. This could explain the Australian bank. I imagine British banking institutions (or even European ones) have got wise to the risks of lending vast sums to football clubs in a boom & bust industry
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est1905

25 Oct 19 5.38pm

Originally posted by topcat

Or, it shows that we aren't cash rich but need cash for spending in the January window.

I had never heard of this before but looking into it, it seems to be a practice used by many clubs and should be at a very reasonable interest rate. Certainly nothing to be worried about.

I am a lot less concerned at this than if we were borrowing money against next seasons tv income, or even the next two or three seasons.
Many clubs have done this and got burnt. If you get relegated the bank aren't suddenly going to say don't worry about it. I know Everton did this under Kenwright who managed to offload the club and got away with it.
This could explain the Australian bank. I imagine British banking institutions (or even European ones) have got wise to the risks of lending vast sums to football clubs in a boom & bust industry

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