Chelsea sign Wesley Fofana - Official

[Dusty]

3 minutes ago, coolhandfox said:

40m to cover energy and food costs? 

 

 

Faes eats a lot.

[Sol thewall Bamba]

2 hours ago, StanSP said:

 

 

Skint aren't we

[Shit_arse]

Cash to spend in Jan

[Foxxed]

1 hour ago, Ric Flair said:

Whatever the need for the funds, I can see why they are securing it now rather than waiting to take on more loans as the cost of borrowing in the short term is only going one way.

 

You'd assume it's for bringing players in in January but if we are agreeing to selling Fofana in instalments then you can assume when we make signings that we are also paying for them in instalments and as we know, player incomings are amortised over the length of their contract so it's not going to be anything to do with FFP.

 

We've booked the profit on Fofana to this years accounts and we're told we weren't considering selling Fofana or any high value asset so this on the face of it surely isn't because we are living hand to mouth and are having to juggle all sorts of credit facilities to run the club.

 

That said, those recent comments from Rodgers about how bad it was in the summer doesn't exactly leave us filled with confidence. We all know how badly Brendan reacted to not having any money to spend and it was to the detriment of the opening part of our season, which I'm still not ready to brush under the carpet as many are.

 

If there are serious financial issues though, you don't get out of that without a clean slate or a significant cash injection which can be difficult to do and utilise it. Being in the situation we are where we've players worth north of £50-60m and more, that are going to walk away for a pittance or heaven forbid on a free is just catastrophic for us if we are going to maintain our ability to compete in the top half of this relentless league. 

 

It's all hypothetical but if we are in financial trouble, then selling up is really the only viable option but would our owners ever do that and not consider it a defeat. It would be a huge dilemma for them, let's hope its nothing as drastic as that.

Financially, Youri walking is a huge mistake. Another reason Braybrooke needs to be integrated to ease some of next season’s pain.

 

But isn’t this loan to get us the Fofana cash early, in time for the jan window, rather than an indication of financial problems?

[urban.spaceman]

The sheer unfairness of our finances suffering because our owners income was impinged by the fall in tourism thanks to the pandemic, meanwhile Newcastle get a huge financial boost despite their owners being (redacted) and Chelsea get absolutely unlimited spending  despite their previous owner being sanctioned for war crimes is utterly revolting. 

[st albans fox]

16 minutes ago, urban.spaceman said:

The sheer unfairness of our finances suffering because our owners income was impinged by the fall in tourism thanks to the pandemic, meanwhile Newcastle get a huge financial boost despite their owners being (redacted) and Chelsea get absolutely unlimited spending  despite their previous owner being sanctioned for war crimes is utterly revolting. 

Chelsea are irrelevant- they were bought because they are a big name club with huge global support and there was no debt left in them. The new owners paid £2.5bn - they didn’t get it for a song. 
 

we are entitled to sell ourselves (or a stake ) if we want new investment 

[KFS]

I am assuming accounts are taken April to April, so you can’t even say this is to manipulate 2023 p&l. It looks like we’re going to be active in Jan though.

[Ric Flair]

51 minutes ago, Foxxed said:

Financially, Youri walking is a huge mistake. Another reason Braybrooke needs to be integrated to ease some of next season’s pain.

 

But isn’t this loan to get us the Fofana cash early, in time for the jan window, rather than an indication of financial problems?

As I've said though, any signings will likely be instalments as well so actual cash out the door whether it be when we sign the player or spread over months/years is commonplace. OK, we might be thinking as the January Market is difficult to operate in, by being able to pay for players upfront might get us the 2-3 players we think we badly need in which case that makes sense, as opposed to bartering and paying like most clubs do.

 

 

[filbertway]

Maybe offering cash rather than installments offers more success in the market in January. The timing just strikes me as us having money in the coffers to go and get players in over the winter window. Certainly makes sense to get a few players in if Youri and possibly Madders are going to be leaving soon.

 

Go out and raid Ligue un and give the players time to get in the club and settled ready for next season.

[Foxxed]

1 hour ago, Ric Flair said:

As I've said though, any signings will likely be instalments as well so actual cash out the door whether it be when we sign the player or spread over months/years is commonplace. OK, we might be thinking as the January Market is difficult to operate in, by being able to pay for players upfront might get us the 2-3 players we think we badly need in which case that makes sense, as opposed to bartering and paying like most clubs do.

 

 

Money up front seems the most likely. We may well have told Glover he’ll have money to spend in this window, especially since we froze him out the summer window, and the summer exodus needs looking at before the summer certainly, especially since we now have Fofana’s transfer fee.

[KingsX]

Club is skint, and thus gearing up to spend big in the January window when prices are at a premium?

 

Not sure that interpretation works for me.

[Le Renard]

The borrowing of the money doesn't matter for the accounts, the money for Fofana will show as £70/75 million in one payment for the selling club.  For the buying club the £70/75 million will be spread over 3/4 years on the accounts, depending on the agreement.   I think the club has either cash flow problems or just wants some cash to spend in January, which is not the best time to buy, but it will be a different market this year after the WC, so perhaps it will be a good time to spend?

[sacreblueits442]

2 hours ago, Foxxed said:

Financially, Youri walking is a huge mistake. Another reason Braybrooke needs to be integrated to ease some of next season’s pain.

 

But isn’t this loan to get us the Fofana cash early, in time for the jan window, rather than an indication of financial problems?

....surely if we had the money available,  we would still be in the position that we were in, in respect of FFP, where players needed to have gone out before we could bring anyone in!!!

 If half the Fofana money had been accrued and borrowing against the full sum would make sense, but you come back to the sane logjam, we need people out before anyone can come in.

[Tommy G]

I love how people track registrations of charges on companies house then spend the next few weeks speculating why or what is happening, most with little or no accounting experience whatsoever. 

[sacreblueits442]

2 hours ago, urban.spaceman said:

The sheer unfairness of our finances suffering because our owners income was impinged by the fall in tourism thanks to the pandemic, meanwhile Newcastle get a huge financial boost despite their owners being (redacted) and Chelsea get absolutely unlimited spending  despite their previous owner being sanctioned for war crimes is utterly revolting. 

...wether impacted by covid or not, our owners are not allowed to be putting money into the club unless it is earmarked for infrastructure,  FFP does not allow them to put in money not sourced from merchandising, gate receipts or tv money!!!

[when_you're_smiling]

Will jump on the conjecture train. Slightly worried it’s to ensure the funds are there to get targets early because it’s likely we’re going to sell Tielemans and/or Maddison. We don’t want to be panicking last minute again. 

[st albans fox]

59 minutes ago, Foxxed said:

Money up front seems the most likely. We may well have told Glover he’ll have money to spend in this window, especially since we froze him out the summer window, and the summer exodus needs looking at before the summer certainly, especially since we now have Fofana’s transfer fee.

we didn't freeze glover out of the summer window  - he was on gardening leave. if anything, we were the ones frozen out of the window although it did seem we were content to be so.

 

i reckon we are going to be selling a prized asset going forward each summer to keep the wheels turning. we need to do a good job in the market on incomings.   

[HarryDee8]

Why not sell off Perez, Vestergaard, sourmare, ihenacho and use the money to buy players?

 

Why we keeping a squad of players who are not  good enought to make  first team

[Lambert09]

the only reason i’m slightly worried is because we also did this in the summer and that cash was never visibly accounted for. we assumed it was for the stadium build or transfers but it obviously wasn’t the latter. 

 

if it is for general  cash flow we are in proper trouble 

[Lcfc-1992]

23 minutes ago, HarryDee8 said:

Why not sell off Perez, Vestergaard, sourmare, ihenacho and use the money to buy players?

 

Why we keeping a squad of players who are not  good enought to make  first team

Can’t sell them if nobody wants to buy them

[StanSP]

23 minutes ago, HarryDee8 said:

Why not sell off Perez, Vestergaard, sourmare, ihenacho and use the money to buy players?

 

Why we keeping a squad of players who are not  good enought to make  first team

We really shouldn't sell Soumare and definitely not Iheanacho. 

 

I've been a critic of Soumare but on recent performances while Ndidi has been out, he's proving me wrong. 

 

We'd be utterly stupid to sell Iheanacho. Criminally under-used by us, but when he does play he's almost always effective. 

[ALC Fox]

8 hours ago, StanSP said:

 

 

This morning I didn't even know that vampire kangaroos existed, let alone wealthy enough to loan money to billionaires.

 

Strange world.

[fazzyfox]

3 minutes ago, ALC Fox said:

This morning I didn't even know that vampire kangaroos existed, let alone wealthy enough to loan money to billionaires.

 

Strange world.

Their interest rates keep going up and down and their terms and conditions suck

[He aint bald]

So Barclays and Macquarie lend against guaranteed TV money...... if NBC default does the debt stay with them or revert to the clubs?

 

I imagine the banks have it arranged in their favour....

 

NBC default, premier league collapses, the rich clubs cover any debts to the banks and form their own league and the rest of us are grateful to be playing in the Barclays British Leagues and watching from home on Macquarie NBC pay per view.

 

and all Fofanas fault we get stuck in BBL 2

(EDIT. with the Celtic reserves)

 

Edited 8 November 2022 by He aint bald

[gurru991]

5 hours ago, urban.spaceman said:

The sheer unfairness of our finances suffering because our owners income was impinged by the fall in tourism thanks to the pandemic, meanwhile Newcastle get a huge financial boost despite their owners being (redacted) and Chelsea get absolutely unlimited spending  despite their previous owner being sanctioned for war crimes is utterly revolting. 

Life is unfair, that's just the way it is !!

Looking at the big picture though, we are still in good shape. We have very good owners who are improving the infrastructure instead of American fund groups borrowing against the clubs future.