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Bolton Nuts » BWFC » Bolton Wanderers Banter » It's all about an app apparently!

It's all about an app apparently!

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1It's all about an app apparently! Empty It's all about an app apparently! on Tue Sep 03 2019, 11:14

Sluffy

Sluffy
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Football clubs lose money as a rule and are traditionally bailed out by its owners, so is this the plan of our new owners too?

Well I for one has never believed it would be and I'm certain that it's something to do with developing the land and car parks that come with the clubs sale.

Two loans have already been secured against these assets already one by Sharon Brittan and the other from someone called Nick Luckock (who I think is a venture capitalist?).

These loans have interest at 4% and are for £20m (it is unclear if that is £20m x 2 (total £40m), or a combined total of £20m between them - the latter of which seeming more realistic considering the club and hotel has only just be bought inclusive of all assets for around £30m in total).

This money (whatever the total is) kickstarts the financial flow of money into the club to bring in the new manager, the nine new faces yesterday and to generally to fund the running of the club and hotel.

However as the money is due to be repaid in full in three years, then there is no way the club/hotel can generate a £20m net profit (let alone a £40m one!) in that time to do so - so its pretty obvious that there is a separate plan to do that.

The one touted and made the most sense to me was to build a multi storey car park - thus freeing up the other ground level car parks - and building on them - maybe say a hotel annex and thus increasing its capacity and earnings, or maybe building more retail shopping units.

Once completed the stadium and hotel could be sold off (and leased back) with the club paying off the loans and becoming debt free.

So what's all this about an 'app' as per the title of this thread?

Well one or two have been asking Nixon what's FV's business plan is and this was his reply!






Tbh I think he's probably got his wires crossed about how FV intended to attract fans back to the club rather than their overarching business plan but might the ST have been on to something when they launched their app a few years back?

Pity they did such a bad job of it though - unless of course you wanted your 10% discount off the pizza shop outside the stadium?

Probably more to do with FV wanting to get closer to their customers than sell them pizza's like the ST did!

Very Happy

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