pedro007 Posted January 14, 2009 Share Posted January 14, 2009 I think that this should be a feature that should be implemented on next years game. As we know most clubs are in debt, some are massively in debt (Man Utd). On my United save I am currently paying over £65m a year back to loan, most of this will be interest. My bank balance is over £500m and I get £150m every year for transfers but only spend about £10m. I would love the option to pay some/all of the loan of early. Everyone knows that paying off debt early saves money in the long run so it would benefit the club and it makes financial sense. Your thought? Link to post Share on other sites More sharing options...
4457 Posted January 14, 2009 Share Posted January 14, 2009 It's not down to the manager IRL though. I'd like a tweak to it. I wouldn't want us to have the option, but FM10 should have it such that the board may choose to pay it off in one go early. Link to post Share on other sites More sharing options...
pedro007 Posted January 14, 2009 Author Share Posted January 14, 2009 It is not down to the manager but maybe your could request it like you can for stadium expansions etc. It just annoys me that I am always paying stupid amounts to a loan that the club have enough money to pay off. Link to post Share on other sites More sharing options...
AbsoluteGenius Posted January 14, 2009 Share Posted January 14, 2009 Finanical matters are best left to the board room, otherwise this game would become Financial Manager. Link to post Share on other sites More sharing options...
pedro007 Posted January 14, 2009 Author Share Posted January 14, 2009 Finanical matters are best left to the board room, otherwise this game would become Financial Manager. Stadium expansions, getting feeder clubs and changing transfer budgets are down to the board but you can request them. If you are not in full control of it I think that being able to request to pay the loan off should be included. Link to post Share on other sites More sharing options...
acidmonkey Posted January 14, 2009 Share Posted January 14, 2009 the manager shouldnt have any involvement in the loans, however if the Board could afford it they should take it on their own and pay off parts, or the whole loan (and that taking ito consideration early pay-off penalites or what ever they are called) Link to post Share on other sites More sharing options...
makelele696 Posted January 14, 2009 Share Posted January 14, 2009 why would the banks let you pay it back early - they are making interest off you? - definately the bank's decision not the managers... but i have vague memories of a loan being paid off early on a previous football manager - but tht mite have been a board takeover Link to post Share on other sites More sharing options...
HL7 Posted January 14, 2009 Share Posted January 14, 2009 why would the banks let you pay it back early - they are making interest off you? - definately the bank's decision not the managers... but i have vague memories of a loan being paid off early on a previous football manager - but tht mite have been a board takeover AFAIK a bank cannot stop you payng back a loan, however they can insist upon a minimum number of payments before the loan can be paid off in full (I think). Even then it can still be subject to a penalty of some sort. Link to post Share on other sites More sharing options...
makelele696 Posted January 14, 2009 Share Posted January 14, 2009 They can charge a penalty which amounts to the interest they would have received had it been paid on time, so as a club if your going to pay £400m tomorrow or £400m over 20 years - you would do it over 20 years apologese i wasnt clear in my first post, and that my spelling is appalling Link to post Share on other sites More sharing options...
Mojby Posted January 14, 2009 Share Posted January 14, 2009 Finanical matters are best left to the board room, otherwise this game would become Financial Manager. You say this - but contracts are financial matters and you negotiate these with the players - I suspect IRL though that Chief execs do this. However, as a Liverpool supporter and usually the only team I play as, I would like to see this as a board request as I get sick of the crippling re-payments - although i did edit this on the pre game editor when I started a new game. Link to post Share on other sites More sharing options...
pedro007 Posted January 14, 2009 Author Share Posted January 14, 2009 When you take a loan out there will always be conditions for paying the loan back early. With loans for you and me it is usually 2 months interest. This is the 'fee' for paying the loan back early. It doesnt matter if you are a person borrowing £1k or a football club borrowing £660m (United), there will always be a penalty for paying it off early but it will x months or x years interest, never the full amount of interest. In short if you pay a loan off early you will save a lot, in terms of United's loan it would be £m's, probably hundreds of £m's I used to work in business banking so know about business loans. Link to post Share on other sites More sharing options...
mag man Posted January 14, 2009 Share Posted January 14, 2009 I think this would be a cool feature. I playing am playing with Maidstone and the board took out a loan when I was in League 2. I am now a Premiership side with a £15m loan and repayments of £95k a month. I am making profit every month, and have a balance of £300m so would make sense to scrap a stupid loan like that. Link to post Share on other sites More sharing options...
glamdring Posted January 14, 2009 Share Posted January 14, 2009 Early paying off of loans should probably be more frequent, but only if that is how they work in real life and only in terms of it being something the board will chose to do, nothing to do with the manager. Financial aspects of the game are slightly tricky in that in real life most, if not all, of these will be handled at board level or by some guy whose job that is, totally separate to the manager, but that is where the game should deviate a little from real life. Most of us enjoy the wheeling and dealing over transfer fees and wages. However, they are clearly football-related budgets so it is an acceptable deviation from real life. Paying off a bank loan early has nothing to do directly with football, it is purely a business thing. It could be argued that we, as manager, should not be able to see the bank balance and incomings/expenditure sheets at all, only our transfer and wage budgets, but I like being able to view those other costs, just not to influence them directly. Presumably if your club has enough money to pay off what remains of a loan though you are in a good financial situation anyway so I don't see why you should care all that much how/when it gets paid off. Most of my worries over bank loan repayments (Werder Bremen in FM08) come from the fact that we are paying out vast sums each month and have next to no money in the bank at all! Link to post Share on other sites More sharing options...
derbyliam7 Posted January 14, 2009 Share Posted January 14, 2009 you can pay of your loan early. on my derby game the loan had a year left to run and the board said they had paid it off due to our stronger financial position. only saving about half a milli a month but its better than nothin and now i dont have any debt. get innnnn Link to post Share on other sites More sharing options...
pedro007 Posted January 14, 2009 Author Share Posted January 14, 2009 you can pay of your loan early. on my derby game the loan had a year left to run and the board said they had paid it off due to our stronger financial position. only saving about half a milli a month but its better than nothin and now i dont have any debt. get innnnn I wish my United board would do that, I currently have about £450m left to pay but have a balance of over £500m Link to post Share on other sites More sharing options...
acidmonkey Posted January 14, 2009 Share Posted January 14, 2009 the united board are hardly going to pay out so they have only 10% of their balance left to be honest as they would then have to take ANOTHER loan to cover running costs if they decide to upgrade anything Link to post Share on other sites More sharing options...
pedro007 Posted January 14, 2009 Author Share Posted January 14, 2009 the united board are hardly going to pay out so they have only 10% of their balance left to be honest as they would then have to take ANOTHER loan to cover running costs if they decide to upgrade anything I take your point buy United have got 100,000 seater stadium and they cant improve the training or youth facilities anymore, what is there to upgrade? Even if they didnt pay off the whole amount, surely paying 25%, 50% or 75% of the loan would make business sense. Link to post Share on other sites More sharing options...
acidmonkey Posted January 14, 2009 Share Posted January 14, 2009 yea but whats your transfer budget? whats ya wage budget Per year? these things have to come off the balance so any prize money runs as profit its the best way to go, but paying off a £450m pound loan is not in good sense when you only have £500m as (cant remember if its done via FM) think of intrest on top ya looking at over £500m i would have thought Link to post Share on other sites More sharing options...
pedro007 Posted January 14, 2009 Author Share Posted January 14, 2009 Transfer budget is £150m each year as I never spend more than £10m a year. Wage budget is £3.3m and current wage is around £1.2m. As you can see I am in an excellent financial position so I cant see why, IRL, the board would not pay off some/all of the loan. It would be nice to pay off the whole loan but even some of it would be a start. Link to post Share on other sites More sharing options...
mag man Posted January 14, 2009 Share Posted January 14, 2009 Maybe only paying off the entire loan is incorporated into the game and in your case thats probably not feasible. Link to post Share on other sites More sharing options...
rougess Posted January 14, 2009 Share Posted January 14, 2009 in fm08 i had fulham's loan paid off early, though that was only(!) 20 million. it was pretty stupid because the following season my budget was more than the balance. fulham aren't exactly moneyspinners in the game so it took me ages to make a steady profit each year Link to post Share on other sites More sharing options...
Amaroq Posted January 14, 2009 Share Posted January 14, 2009 It's not down to the manager IRL though. I'd like a tweak to it. I wouldn't want us to have the option, but FM10 should have it such that the board may choose to pay it off in one go early. It is not down to the manager but maybe your could request it like you can for stadium expansions etc. It just annoys me that I am always paying stupid amounts to a loan that the club have enough money to pay off. to both of those. I think early repayment needs to be in the game, and needs to be more frequent. I fully support the "suggest repayment of loan" board interaction as an option. Link to post Share on other sites More sharing options...
ndebergerac Posted January 15, 2009 Share Posted January 15, 2009 Stadium expansion, feeder clubs are football related, paying off a loan isn't. This idea is a bad one, would take away from the realism of the game.... basically a non starter:thdn: Link to post Share on other sites More sharing options...
Smac Posted January 15, 2009 Share Posted January 15, 2009 Finanical matters are best left to the board room, otherwise this game would become Financial Manager. Fine, if they do their jobs. If not, let me do it. Simple as that really. If loans are simulated, then realistic repayment should be simulated. And as to the 'loans aren't football related', you do realize this is only an arbitrary distinction? If you have no money you won't be able to pay wages, etc.., so finances are (IMO only, of course) central to football. One could argue that transfer budgets or confidence or job searching or press conferences or yadda yadda aren't football related. I don't care if I do it or the simulation does it: Repay the loans or fire yourselves! Link to post Share on other sites More sharing options...
nymanr Posted January 15, 2009 Share Posted January 15, 2009 I too have experienced games where they could have repayed loans earlier. The balance to early repayments is hard to implement though. I think there is one for full repayment in the game at the moment, but you would need probably double what you loaned in the bank before it triggers. Not to mention things like what shape is your stadium, trainingrounds and youthsetup? In United's case it would still be a big risk to pay of the full loan with only 500 in the bank. If the loan would be 450 and you had 900 i would think they would seriously consider repaying. Question is where do you draw the line if you go in to the partial repayments? Link to post Share on other sites More sharing options...
SI Staff Riz Remes Posted January 15, 2009 SI Staff Share Posted January 15, 2009 Like has been stated by some already in this thread, paying back loans in one go is not that simple due to possible (and most likely) penalty fees involved. So while it might look beneficial from your (manager/club) point of view to pay off the loan early, you have to consider that the money is on loan from another source which has it's own interests and most likely would not want an early settlement without significant financial penalties imposed. So in short, it is not always possible and I don't think it really needs to be any more common in the game. Link to post Share on other sites More sharing options...
Ryds Posted January 15, 2009 Share Posted January 15, 2009 Finanical matters are best left to the board room, otherwise this game would become Financial Manager. at the moment with all the injuries even in 9.2 it should be called ER/A+E Manager Link to post Share on other sites More sharing options...
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