Acun had a dream
- Thread starter bradymk2
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I don't necessarily disagree with you but I have to ask, 'would you sacrifice PL survival for a big investment in infrastructure?'. Because I don't think we can have both at this stage.
This time last year, a few posters itk were stating that Acun was in financial trouble and the club had to get promoted and then sold for him to get his money back.. if this is true, could he be selling some of the club and this is the announcement?
Steve Jordan. And to your right is the TURKISH AIRLINES NORTH STAND. GOOD AFTERNOON NORTH STAND
I think it would be in his interest and the club’s to sell a stake to a wealthier investor like the Biscuit Man whilst still remaining the majority stakeholder and chairman.
I’m sure he won’t mind me saying now as nothing came of it but Toasty told me Acun had a meeting with John Textor (majority owner of Botafogo, Lyon and RWDM Brussels and former minority stakeholder of Crystal Palace) in October or November, if I remember correctly. Acun also apparently met with Turki Al-Sheikh (Saudi official and co-founder of Zuffa Boxing who is now sniffing around Derby) at some point before the new year for the same reason i.e. about selling a minority stake.
I don't understand how selling a stake helps us with the new psr rules. We can only invest dependent on our income so sponsorship more important.
as long as its not KWIK SAVE...
Cash flow. Acun’s not a billionaire. He’s relied on several loans from creditors to bankroll the club for years. Having a billionaire as a minority stakeholder to provide financing would be an asset for the club itself, unrelated to PSR.
There are all sorts of ways to structure debt, equity, conversion and pre-emption rights, sponsorship etc. One way or another I think the club is going to be getting a significant injection of hard-earned. I hope so anyway!
We'll get the cash either way though? Owning a stake only benefits said investor when it comes to selling that stake. Not the club. There's not much point being cash rich to a point - not sure the limit on equity injections in pl but it's only 10m in championship.
It’s obvious the club suffered liquidity issues in the last few years. Money had to be transferred from overseas accounts into the club’s accounts on a regular basis to pay player salaries, transfer fee instalments, money owed to non-football creditors etc. and we’ve been in arrears on occasions. After the transfer fee restriction, we obviously tightened things up to ensure we wouldn’t be late on future payments to football creditors to avoid the third suspended transfer window restriction coming into force. To his credit, Acun has converted a chunk of the debt to equity, even though Acun Medya still has to pay off the loans to other creditors like Santander.
A cash injection by a wealthy minority stakeholder is still good for the club’s finances, even if it doesn’t move the needle much regarding PSR or SCR. I’ve been very critical of Acun but I wouldn’t blame him if he wants to ease the financial burden on himself and Acun Medya by selling a significant stake to someone more wealthy whilst still remaining as chairman.
Many promoted clubs borrow money against future Premier League income, so they have funds available to build a new squad ahead of the start of the season, another investor would avoid the need for these borrowings and the costs they incur.
Just for clarity anyone. Is there anyway the club can receive extra cash flow that can go towards players coming in.
So the other investor will just put the cash in interest free?
I agree higher sponsorship deals will help, but players are almost never paid for up front, they'll be paid in instalments so cash flow really shouldn't be an issue.
Clubs only borrow like that once they're stable pl clubs and borrow years in advance.
The first time we went up, not only did we borrow all we could against future Premier League income, but we even mortgaged a couple of years of our corporate income to fund player purchases and wages.
So were the fees and wages, it's all relative.