bucket Posted November 24, 2016 Share Posted November 24, 2016 I'm currently managing Woking and in a meeting with the board and I wanted to see what would happen if I asked them to purchase the stadium. To which they agreed. I've had this happen before and it's fallen through due to lack of finances. Didn't think anything of it, until end of the season I get a message saying purchase of the stadium is now complete and a loan of £2,500,000 was taken out and now have to pay back £44,000 a month. Which has left us in a massive hole. Why would the club do this? And is this a bug? Thanks Link to post Share on other sites More sharing options...
Welshace Posted November 24, 2016 Share Posted November 24, 2016 Why would this be a bug? You asked them to buy the stadium and they did.. of course it would require a loan and of course in the short term it will put you in debt. The idea is that it's thinking about the long term. Link to post Share on other sites More sharing options...
westy8chimp Posted November 24, 2016 Share Posted November 24, 2016 More of a data/realism bug than anything... the owner of the stadium is also the owner of Woking's holding company and it's his money that has continually developed Kingfield ... very unlikely that the board would buy it off their own holding company. Link to post Share on other sites More sharing options...
bucket Posted November 24, 2016 Author Share Posted November 24, 2016 19 minutes ago, Welshace said: Why would this be a bug? You asked them to buy the stadium and they did.. of course it would require a loan and of course in the short term it will put you in debt. The idea is that it's thinking about the long term. Yes but surely the board or at least you would hope be savvy enough to realise that they would be putting the clubs future at risk by buying the stadium? Dont get me wrong, the club in real time is struggling, but have just been granted planning permission to build a new stand, but I think that's more of a plus for the sale of the club to be honest and would help for any potential buyers Link to post Share on other sites More sharing options...
Welshace Posted November 24, 2016 Share Posted November 24, 2016 1 minute ago, bucket said: Yes but surely the board or at least you would hope be savvy enough to realise that they would be putting the clubs future at risk by buying the stadium? Dont get me wrong, the club in real time is struggling, but have just been granted planning permission to build a new stand, but I think that's more of a plus for the sale of the club to be honest and would help for any potential buyers Oh don't get me wrong... i'm not saying it was a good move by the board... i'm just saying, that you asked for it and they granted it based on the logic that it's for the longterm success that you will hopefully bring about and not the financial downturn which is almost inevitable with any purchase of a stadium in lower leagues.... but it's not unheard of. Link to post Share on other sites More sharing options...
jayahr Posted November 24, 2016 Share Posted November 24, 2016 6 minutes ago, bucket said: Yes but surely the board or at least you would hope be savvy enough to realise that they would be putting the clubs future at risk by buying the stadium? Dont get me wrong, the club in real time is struggling, but have just been granted planning permission to build a new stand, but I think that's more of a plus for the sale of the club to be honest and would help for any potential buyers This is what you in the first place should have considered. You don't expect teh board AI to be smarter than you and prevent you from screwing up, do you? Buying the stadium is viable only if ot saves you money, i.e. if the rent is, at least mid-term- higher than the price of buying. Otherwise it's madness. Same with building a new stadium. Unless the addition of extra income and saved rent exceed the costs, then it makes no sense to do it. Link to post Share on other sites More sharing options...
Cougar2010 Posted November 24, 2016 Share Posted November 24, 2016 £2.5m really isn't a lot and probably not a massive financial decision. To put it into perspective on my save the Norwegian part time club I'm managing took out a £6.75m loan to pay for undersoil heating which is a requirement in the first division and also switch out some standing room for seating at the same time. The loan repayments are over 10 years and after one season completed I can see that its going to cost the board around £250k a year of their own money to balance the books with the club managing to pay the rest. Overall although it sounds like a big loan for a part time club its one that we can manage pretty comfortably as long as we stay in the first division. Link to post Share on other sites More sharing options...
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