Nah mate I meant put it in an account and make it last the season and the club earn the interest on it and you may not need to put a mil in every month To tick it over
If you put 12 mil in a. Acct what is the best interest you could potentially pull
Unless its in an account with say 500 mil then the 1 mil might be the interest on that acct
its all to do with cashflow. Also, you will probably not get more interest on a £12M deposit than a £1.2m deposit unless you want to take a gamb;e on a small bank. Big banks dont really need deposits at present - they just get cheap Gov money.
Also makes me wonder why they don't just put 12 mil there and make it last the season
Very good point.
I suspect because until it's in the club it's probably invested somewhere/earning interest in a bank, so makes more sense to drip feed it monthly. Once it's in the club it won't grow only shrink.
I think NLA meant why not spend it on players in the summer just gone
But if it's taking a million a month to keep the club going right now then spending that money last summer wouldn't help - that would be additional expenditure on top of the running costs, which would still be required. Unless I'm misunderstanding what that monthly injection is for...
Just back from the VIP meeting with Michael Slater and Chris Powell. One point made to MS was that supporters were anxious about the extent of the annual losses. He said very clearly that there was no need to be anxious. That he and TJ were not in it for the short term and that he "transferred £1m a month into the club" and would continue doing so
A million a month? 12 million a year? Crap.
Crap? How much money would you like him to piss up the wall?
crap in that a) I doubt it is quite that much b) if it is then it's unsustainable and we are in the crap and c) he has no money so can't say 'I'. Plus any money coming in is purely a loan. Why did someone not ask whose money it actually was coming in?
I asked him how we were covering the losses & he said he transferred a £1m per month & it was his business where the money came from.
We lose, on average, £7m a year. You cashflow £1m a month to be safe and I'm sure there is the odd month that less goes in - but you always try to ensure the cashflow doesn't completely run dry
As per my post on other thread there will be certain months when nothing required ... September the tv money; march April may season ticket money...remember if we have 11500 season tickets meaning only 5,000 tickets sold on a match day... And when someone says they transfer money into the club then it is very presumptuous to assert where it comes fromand whose money it is... The only way is up! Perhaps 10 places in the league each and every season
You earn significantly more interest on personal money than corporate money so IF the cash was sitting in an offshore account in someones own name they would be mental to just transfer the entire amount over to sit in the Charlton account. Plus the £1M pcm may come from another investment - ie rent from a building or divis from shares so would not be all available up front.
I wonder who the indian looking guys were with jimenez?
Well my mate walked past them and even though he had his ipod on and the crowd was singing he swears he heard Jiminez introducing one of these fellas as "Mittal".
Definintley wasn't "Meet Al". We're gonna be minted.
Does make me laugh that there are lost tribes in the Amazon who have camera phones but no one in the West stand can ever take a photo of these mysterious potential owners when they spot them
Oh no. Just our luck. One of the richest men on the planet comes to buy us and ends up buying our opponents because of some bloody industrial reference.
Jeez, just read the whole thread and it ends up with a curry house - but Cafe Eltham is lovely, still can't beat The Star of India! Last line of the accounts sums it up. Ultimate parent company based in the British Virgin Islands, anyone who knows me will be aware of where I work. Now time to watch the finacial genius that is Mark on "The Hotel!"
Jeez, just read the whole thread and it ends up with a curry house - but Cafe Eltham is lovely, still can't beat The Star of India! Last line of the accounts sums it up. Ultimate parent company based in the British Virgin Islands, anyone who knows me will be aware of where I work. Now time to watch the finacial genius that is Mark on "The Hotel!"
I wonder how much he was paid to do this programme? Surely anyone who sees it won't go within a mile of the place. Cringeworthy.
without wanting to go over old ground, thought i'd share what I heard. i spoke to someone connected to the club regarding last years "cashflow problem", where it was described to me how club staff were asked to by supplies on their personal credit card and that we at one point couldnt get the supply of the white paint to mark the pitch out. oh to have been a fly on the wall last summer!
without wanting to go over old ground, thought i'd share what I heard. i spoke to someone connected to the club regarding last years "cashflow problem", where it was described to me how club staff were asked to by supplies on their personal credit card and that we at one point couldnt get the supply of the white paint to mark the pitch out. oh to have been a fly on the wall last summer!
I was dining in Legends before the game and Slater walked in with at least 5-6 indian/arab looking guys, as heavenSE7 says they were all suited and booted with shiney brand new scarfs round their necks. The guys at the table nearest the door jumped up and shook Slaters hand and it was big smiles all round including the indian's/arab's.
Comments
Nah mate I meant put it in an account and make it last the season and the club earn the interest on it and you may not need to put a mil in every month To tick it over
If you put 12 mil in a. Acct what is the best interest you could potentially pull
Unless its in an account with say 500 mil then the 1 mil might be the interest on that acct
Who knows stupid question
But a frightening amount of money
And when someone says they transfer money into the club then it is very presumptuous to assert where it comes fromand whose money it is...
The only way is up! Perhaps 10 places in the league each and every season
Definintley wasn't "Meet Al". We're gonna be minted.
Lakshmi Niwas Mittal - he's worth a few bob.
: - )
Use the Raj at Well Hall which is very good.
Sorry to diverse.