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West Bromwich Albion FC / Re: WBA NEW OWNERS - Bilkull football
« on: February 28, 2024, 06:19:54 PM »Just watched the interview with Patel on the OS.
Can anyone explain in more detail his answer to the question about the MSD loans. It sounds like he is still planning for the club to pay them back to MSD, not the new owners. Which I thought would be the plan?
I’ve just watched it to. I would recommend anyone watch it rather than read it.
I had hoped he would clear the debt (maybe he can’t as it’s a club debt, not sure how that would work with FFP), but obviously he’s now on record saying he will not. That means his initial investment is relatively cheap, the £10m the Athletic have reported probably.
That matter makes me a little nervous to be honest and I’m still not convinced they are that rich (football wise)
However, he speaks well, it’s clear it’s a business and investment for him (which I don’t think has been in doubt) but he seems sincere. He speaks a lot like the chairman of the company I work for which is a large Fortune 500 American company still run by members of the founding family.
I hope he’s can be as bright and astute as he thinks he can be within football ,because his plan is to do this with his intellect not his wallet!
It’s a good interview though and the interviewer does ask the right questions and overall he comes across well.
He said the club will have what it needs to operate inside FFP when asked about finances. I wonder if that is a signal he plans to put in the £8m per year he can.
The part I didn’t quite follow was about the Warmfront loans.
Big shake up and huge reductions to wage bill still needed this summer