anyone had a big Loan Debt (Man Utd style) payed off faster?

Currently playing as Man Utd and sitting on a 265M debt that is due to be paid off somewhere in the 2030's. With a balance off 500M (steadily rising), is it possible that it will pe paid off faster than scheduled, or is this impossible? will i have to play on until when the 2030's to be debt free?

i've never heard of anybody getting it paid off, and how come you have that amount?

i've never heard of anybody getting it paid off, and how come you have that amount?

it's in fm07 and I'm in 2013

I've never seen it payed off because you have lots in the bank...as west ham, I had about 60mil of my 80mil debt paid off when a new owner came in, but as far as im aware that's the only way.

Chances are it won't be paid off quickly because just like a lot of peoples mortgage there are penalties for paying it off early (in real life) and the interest is how the banks make money.

Never seen it paid early. I understand what you mean, I did the same with United, had loads of cash, but sadly had to wait until the time was up.

I had it paid off in fm09 the baord got took over and cleared most of it there was a much smaller loan which i assume they took to buy the club. I started making 4-5 million a month and i was starting to get transfare budgets of 100 mill plus. I was quite far in to my season, i would show screenshots but my game became currupted

On my brothers game Liverpools debt was only £20million at the start of his 3rd season, with no takeovers.

Although I've never had the pleasure myself, I've been told several times (by respected posters) that clubs with huge debt (Liverpool, Man United for example) can have it wiped out by a board takeover. Occasionally though, the debt can increase

I'm into my fourth season as liverpool and board has just taken a further 200m debt so they can build a new stadium, fortunately for me they also injected 100m of their own money into the club so i had a transfer budget of 78m.

Has anyone successfully paid off their loans faster? Is there a way to?

I'm asking because I have taken on the daunting task of managing Chester City FC with their -25 point deduction and 260k beginning debt. I scheduled a friendly every other day with premier league clubs to bring in money, which worked, I made about 300k in profit, but where does that money go?

I have on older fms, possibly 09. With lots in the bank they decided to pay of the debt. Not happened on this one yet and I have plenty of spare cash to pay it off.

Sorry, I just realized it's not a 260k debt, it's a 4,000,000 pound debt.

If you don't spend your transfer budget and make more money than expected, at the end of the season, where does this money go? From cup wins, gate receipts, match money, etc... Does the computer just randomly distribute it? This is one thing I've always been curious about.

If you end up with a big surplus, the board often decide to pay dividends to shareholders.

As Forest manager in FM09 we had a substantial loan debt. After regularly turning a huge profit from player sales and barely spending any of the proceeds, each year the Chairman distributed some of the proceeds to the shareholders (ie - himself as there are no shareholders) rather than reducing debt.

It's long overdue that Chairmen in FM should look to reduce debt where possible. Especially in light of what's happening with clubs like Pompey and Palace. If you have 25 million in the bank earning 3%, it makes no sense maintaining a loan paying 10%. Unless you're playing regular European Football and would prefer to have the $$ in the bank ready to spend.

Maybe Chairman should have a hidden stat (if there isn't already) that would lead them to be more financially sound (ie - reduce or limit debt rather than increasing it) than other Chairman?

Although I've never had the pleasure myself, I've been told several times (by respected posters) that clubs with huge debt (Liverpool, Man United for example) can have it wiped out by a board takeover. Occasionally though, the debt can increase

Pffft....yeah because a board takeover can lead to a hell of a lot more debt! Ha! When will THAT ever happen?

I played as Charlton in FM09 and it was paid. But in FM10 it doesn't matter how much money I have and it doesn't matter how small the loan is that they just don't pay it. Clubs could at least refinance it so the interest rate is less and you can pay it back at a sooner time.

It's a little frustrating, it's hampering everything I need to do at the club (but it's part of the challenge, that and the -25 pts deduction). I had thought that by assuming fiscal responsibility and trying to rack in big amounts from selling players, lowering wages, raising gate receipts (especially through friendlies) that it'd make a dent. I don't want to give the Vaughans any more money -- tough dilemma now.

Im in 2013/2014, won the League 7 times in a row, 1 champions league, and either this summer, or back in january, the board said "As a result of the improved financial condition, extra funds for transfers have been given".

I didnt look into it much, so i didnt double check what the debt status was. Perhaps I just paid off enough of it to hit a new "tier" where I was paying less or something.

As Forest manager in FM09 we had a substantial loan debt. After regularly turning a huge profit from player sales and barely spending any of the proceeds, each year the Chairman distributed some of the proceeds to the shareholders (ie - himself as there are no shareholders) rather than reducing debt.

It's long overdue that Chairmen in FM should look to reduce debt where possible. Especially in light of what's happening with clubs like Pompey and Palace. If you have 25 million in the bank earning 3%, it makes no sense maintaining a loan paying 10%. Unless you're playing regular European Football and would prefer to have the $$ in the bank ready to spend.

Maybe Chairman should have a hidden stat (if there isn't already) that would lead them to be more financially sound (ie - reduce or limit debt rather than increasing it) than other Chairman?

The problem is that sometimes there are pretty severe financial penalties for paying off a loan early.

Not as severe as having to make interest payments over a 20 year term.

Total interest payments on a modest $5,000,000 loan at 10% over 20 years equates to around $6,500,000!