BFC Accounts May 2022

Seems a good time to repost this - Interesting article on PNE's financial situation, losing £400K per week, doesn't sound sustainable ... https://www.lep.co.uk/sport/footbal...-of-love-says-football-finance-expert-3994086

 

Just remember that the largest contributor to the rights issue will have been Chien Lee.

 

But also the biggest reason for needing one in the first place. And done solely to retain his shares, not out of desire

 

You know that for fact? The easiest thing for him to do is let his holding be diluted. He’s put more cash in to the club than anyone on here. He may know Jack all about running a football club but he’s chosen to put in around £2m quid which means the club can operate.

Now if you were to say Conway, well that’s a different story…..

 

Wasn't he the biggest shareholder and co-chairman?

I'd argue he's cost the club far more than anyone on here ever has too. And that collectively the bbs has put a lot more money into the club than Lee has.

 

collectively we have all bought tickets and merchandise, unless you’ve gifted the club cash you have put nothing in.

The analogy is going to Asda and getting a weekly shop and then claiming to be an investor.

 

Hence why i think he knows jack all about the game and running a football club. He has though ponyed up when the club needed it.

I think he’s the patsy investor who believed Conway’s BS along with the other investors.

 

As an aside Conway’s Counter Press Special acquisition vehicle is being wound up, returning the cash raised to the investors as they have been unable to undertake a transaction.

 

Conway and a few of his NY pals put together a special acquisition vehicle (blank cheque company) end 2021. It was called Counter press and raised close to £90m. Sole intention was to buy football clubs in Europe’s main leagues.

They didn’t and are now returning the cash to the investors from who they raised the cash.

A brief piece here

https://finance.yahoo.com/news/counter-press-acquisition-corp-intends-210500501.html

 

Soon to be 4.

PMG HAS ABANDONED OSTEND

PMG has dropped Ostend - All football | Walfoot.be

Three points behind Zulte Waregem, six behind Eupen... There are seven games left to play... KV Ostend must win at least twice to save themselves. The fans have already thrown in the towel.

After the change of coach, Ostend got 6 points out of 36. These are obviously figures worthy of a formation that will go down. The American owners of the coastal team thought there was enough quality in the team to get by, but all observers knew that this was not the case.

During the winter transfer window, they also barely strengthened the team and rumours of financial problems surfaced. The conclusion: Pacific Media Group (PMG) has abandoned Ostend. After all, it's not Dominik Thalhammer's fault that he has virtually no offensive options, just as it wasn't Yves Vanderhaeghe's fault.

Put Pep Guardiola in Ostend and he couldn't have turned him into a racehorse either. Today, the situation is desperate. Ostend still has to play against Club Brugge, La Gantoise, Standard and Westerlo. All teams aiming for Playoffs 1. They are already struggling not to lose, who thinks they will get victories with this program?

 

Am still interested in their plans to invest in Scotland and shake up the Auld Firm

LOL

 

So they have increased the share valuation by injecting the capital in
Correct ?

so if anyone wanted to buy it the price has gone up by the amount of money they have put in
Correct.

So after all the numbers are added up and subtracted
How much will they have actually paid out of there own pockets , the final figure for the club @ 80 %

The number in your other post
2.85 million ?

And the valuation of the club based on there cash injection is ?

 

Can anyone who knows accounting tell me where player sales and purchases are on the financial statements? Couldn’t make that out myself