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#Post#: 91198--------------------------------------------------
Bournemouth to buy back their stadium.
By: TheThingFromLewes Date: April 25, 2025, 2:56 pm
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HTML https://www.bbc.co.uk/sport/football/articles/c0jz6273l6xo
Good news for AFCB and how far they have come since they were
nearly relegated out of the FL altogether.
Should be easy to expand given its current size and scale.
#Post#: 91202--------------------------------------------------
Re: Bournemouth to buy back their stadium.
By: bmb Date: April 26, 2025, 3:38 am
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It’s brilliant. We’ve tried to buy it back many times but our
soon to be ex landlord’s were always demanding silly money. With
the lease coming to an end in the next year or so, sporting
covenants on the land, zero prospect of different tenants and an
owner with the financial backing to build a new stadium
elsewhere they’ve finally realised we hold all the cards! First
step is tearing down the Ted shed and increasing the capacity
there to 7500, I think it’s 2500 currently. We already own that
piece of land and Max obtained planning permission to expand the
size before he sold the club. Not sure if it’s still valid but
paves the way for permission to be granted quickly. We also now
have an MP who is a supporter and keen for the club to be able
to grow - finally!! Exciting times indeed! Announcement came on
the 16th anniversary of Grimsby day, a 2-1 win that kept us in
league 2!
#Post#: 91270--------------------------------------------------
Re: Bournemouth to buy back their stadium.
By: Microscopist Date: April 27, 2025, 11:52 am
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I expect being allowed to effectively write off a £71M
shareholder loan by the Premier League might have helped a
little as well?
#Post#: 91278--------------------------------------------------
Re: Bournemouth to buy back their stadium.
By: bmb Date: April 27, 2025, 1:01 pm
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Max chose to write that off himself. Having brought the club
into a position where it was stable he wanted to leave it in a
place where it could grow beyond how he could have achieved.
#Post#: 91289--------------------------------------------------
Re: Bournemouth to buy back their stadium.
By: Microscopist Date: April 27, 2025, 4:20 pm
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[quote author=bmb link=topic=6935.msg91278#msg91278
date=1745776915]
Max chose to write that off himself. Having brought the club
into a position where it was stable he wanted to leave it in a
place where it could grow beyond how he could have achieved.
[/quote]
Indeed, I understand that it was written off just after the
transfer of ownership and so was regarded as a third party loan.
On the one hand some owners are not allowed to invest their own
funds and so called associated parties have to have their
sponsorships vetted by the Premier League but others have been
able to benefit from interesr free loans, which the interest
benefit has not been included in ffp and psr calculations. Had
the premier league not taken this view of the loan write off
Bournemouth would have failed psr regulations. Some cynics
might note that those clubs which have been most troubled by the
premier league imposition of ffp/psr constraints are non
American majority owned.
#Post#: 91317--------------------------------------------------
Re: Bournemouth to buy back their stadium.
By: bmb Date: April 28, 2025, 9:23 am
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[quote author=Microscopist link=topic=6935.msg91289#msg91289
date=1745788810]
[quote author=bmb link=topic=6935.msg91278#msg91278
date=1745776915]
Max chose to write that off himself. Having brought the club
into a position where it was stable he wanted to leave it in a
place where it could grow beyond how he could have achieved.
[/quote]
Indeed, I understand that it was written off just after the
transfer of ownership and so was regarded as a third party loan.
On the one hand some owners are not allowed to invest their own
funds and so called associated parties have to have their
sponsorships vetted by the Premier League but others have been
able to benefit from interesr free loans, which the interest
benefit has not been included in ffp and psr calculations. Had
the premier league not taken this view of the loan write off
Bournemouth would have failed psr regulations. Some cynics
might note that those clubs which have been most troubled by the
premier league imposition of ffp/psr constraints are non
American majority owned.
[/quote]
I believe Max spoke to PL on a regular basis and did seek advice
on what he could/couldn't do in legal terms re investment. If
not him then Alexey who was the financial whizz. It was
discussed at length during the sale of the club. That loan
didn't fall under PSR/FPP because it was infrastructure based.
It was at least part of what Max had paid for the land at
Canford Magna, where our shiny new training facilities are now,
and/or the land that the Ted Shed stands on and where the now
old training centre is.
#Post#: 91367--------------------------------------------------
Re: Bournemouth to buy back their stadium.
By: Microscopist Date: April 28, 2025, 2:54 pm
---------------------------------------------------------
[quote author=bmb link=topic=6935.msg91317#msg91317
date=1745850190]
[quote author=Microscopist link=topic=6935.msg91289#msg91289
date=1745788810]
[quote author=bmb link=topic=6935.msg91278#msg91278
date=1745776915]
Max chose to write that off himself. Having brought the club
into a position where it was stable he wanted to leave it in a
place where it could grow beyond how he could have achieved.
[/quote]
Indeed, I understand that it was written off just after the
transfer of ownership and so was regarded as a third party loan.
On the one hand some owners are not allowed to invest their own
funds and so called associated parties have to have their
sponsorships vetted by the Premier League but others have been
able to benefit from interesr free loans, which the interest
benefit has not been included in ffp and psr calculations. Had
the premier league not taken this view of the loan write off
Bournemouth would have failed psr regulations. Some cynics
might note that those clubs which have been most troubled by the
premier league imposition of ffp/psr constraints are non
American majority owned.
[/quote]
I believe Max spoke to PL on a regular basis and did seek advice
on what he could/couldn't do in legal terms re investment. If
not him then Alexey who was the financial whizz. It was
discussed at length during the sale of the club. That loan
didn't fall under PSR/FPP because it was infrastructure based.
It was at least part of what Max had paid for the land at
Canford Magna, where our shiny new training facilities are now,
and/or the land that the Ted Shed stands on and where the now
old training centre is.
[/quote]
Thanks for that reply, I haven’t seen that explanation elsewhere
but it is difficult to know what to believe, and particularly on
Premier League financial decisions. Also I can’t be sure that I
have read every relevant article. I’ll copy your explanation to
one who seems to have a firm grasp of these matters and see what
reaction I get. By and large I had respect for your previous
owner as he seemed to genuinely have the interests of the club
at heart unlike some owners.
#Post#: 91377--------------------------------------------------
Re: Bournemouth to buy back their stadium.
By: bmb Date: April 28, 2025, 6:06 pm
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Max was amazing. Very honest and by the book. We had a FFP issue
when we were first promoted to the PL. It was caused by a player
signing showing on the accounts either on the previous year or
next year, I can’t remember which but it meant we went over the
limit on one set of accounts, the date was off by a matter of
days. He paid the fine instantly, no quibbles and made sure to
never be in a position where he breached FFP again. My then
boss/work partner was a director under Max’s stewardship of the
club so I was very much on the inside. I was always given the
“pleasure” of minute taking and typing up meeting notes. Adam
and I ran 2 charities together as partners but I also worked for
him as a graphic designer. Very honest and humble guy. He and
Max were sht hot on following rules and regulations to the
letter. I miss Max, a lot! Genuine footballing man, loved the
club and let people get on with their jobs with minimal
interference. Great sense of humour as well. Sadly didn’t have
the financial capacity to take us to where we are now but laid
every foundation to ensure we could and would grow. When selling
up it took him 18 months or so to sell to Bill Foley, his due
diligence was seriously on another level and he refused to sell
until he was absolutely certain he was handing over
custodianship to the right person. Football needs more Max’s as
owners.
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