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Bolton Nuts » BWFC » Wandering Minds » Burnley mortgaged to the hilt

Burnley mortgaged to the hilt

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1Burnley mortgaged to the hilt Empty Burnley mortgaged to the hilt Wed Feb 03 2021, 00:05

RangersDave

RangersDave
Mario Jardel
Mario Jardel

2Burnley mortgaged to the hilt Empty Re: Burnley mortgaged to the hilt Wed Feb 03 2021, 00:59

Sluffy

Sluffy
Admin
Interesting read, thank you.

3Burnley mortgaged to the hilt Empty Re: Burnley mortgaged to the hilt Wed Feb 03 2021, 09:37

Ten Bobsworth


Andy Walker
Andy Walker
@Sluffy wrote:Interesting read, thank you.
And to think, if it wasn't for the blessed Owen.....

4Burnley mortgaged to the hilt Empty Re: Burnley mortgaged to the hilt Wed Feb 03 2021, 12:02

wanderlust

wanderlust
Nat Lofthouse
Nat Lofthouse
Leveraged buyouts always carry an increased risk for fans even if the terms appear OK but all this will come down to the detail, staying in the PL and the probity of the new owners.
There is little risk to the buyers and the previous owners have been paid off, but the unusual thing about a football club is that the fans and community have a vested interest in the asset itself which is why it's not the same as borrowing to buy a house or a car.

5Burnley mortgaged to the hilt Empty Re: Burnley mortgaged to the hilt Wed Feb 03 2021, 13:17

Sluffy

Sluffy
Admin
Fans do not have a vested interest.

They may have a personal interest, an emotional one, a consumer/supplier relationship, or even a shareholding but they have no direct legal or financial interest in the club itself.

Even the ST's much vaunted Asset of Community Value which they obtained on the stadium isn't really worth the paper it is written on and basically only makes the sale of that asset becoming public and delayed for a period of months and doesn't ultimately stop a sale of it.

https://en.wikipedia.org/wiki/Asset_of_community_value

I'm also not sure of your assertion that there is little risk to the buyers of the club (and the article states the former owners have NOT yet been paid off) seems from how I read the article they have taken out a hefty loan at high interest to help fund the sale, a relegation from the PL certainly would not be good news for them if Burnley failed to bounce back again to it anytime soon thereafter.

I do wish Burnley well for the future though.

6Burnley mortgaged to the hilt Empty Re: Burnley mortgaged to the hilt Wed Feb 03 2021, 13:38

Ten Bobsworth


Andy Walker
Andy Walker
@Sluffy wrote:Fans do not have a vested interest.

They may have a personal interest, an emotional one, a consumer/supplier relationship, or even a shareholding but they have no direct legal or financial interest in the club itself.

Even the ST's much vaunted Asset of Community Value which they obtained on the stadium isn't really worth the paper it is written on and basically only makes the sale of that asset becoming public and delayed for a period of months and doesn't ultimately stop a sale of it.

https://en.wikipedia.org/wiki/Asset_of_community_value

I'm also not sure of your assertion that there is little risk to the buyers of the club (and the article states the former owners have NOT yet been paid off) seems from how I read the article they have taken out a hefty loan at high interest to help fund the sale, a relegation from the PL certainly would not be good news for them if Burnley failed to bounce back again to it anytime soon thereafter.

I do wish Burnley well for the future though.
More about yuman rites than vested interests, Sluffy. Football supporters have yuman rites to their footie club and its the responsibility (silent 't') of somebody else to pay for it (almost silent 't'), innit?

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