Fulham has a Billioner owner....but will all they be able to get world class players

[syke]

I read somewhere Harrods had £600m loans which has to be paid off also

so Fayed only gained a MEASLY £900m or so - reallllllllyyyyy small fry

Personally think the performance in the Europa League final will count for more than this sale - actually atracting foreign players to Fulham and how they play (as long as they dont get stage fright on the night of course lol)

Oh definitely, he borrowed pretty much 100% of his money to buy Harrods afaik. He's run the club very well, not plummeting it into mountains of debt ON the club, it's just...on him

 

[qwerty]

Roy Hodgson is just playing a massive game of Football Manager with his career all over Europe (and the UAE). You can just imagine him waking up to an email saying "The owner of Fulham FC, Mohammed al-Fayed, has just sold another of his business interests for £1.5bn. Your transfer budget for next season has been set at £1.5bn"

 

[Greenlizard0]

I read somewhere Harrods had £600m loans which has to be paid off also

so Fayed only gained a MEASLY £900m or so - reallllllllyyyyy small fry

I suspect that's bull. Once you take out tax, he's left with £450m or so. He and his brother paid £615m for it in 1985; it'd be a manic huge loss even outside of inflation etc.

 

[Psycho Sonny]

I suspect that's bull. Once you take out tax, he's left with £450m or so. He and his brother paid £615m for it in 1985; it'd be a manic huge loss even outside of inflation etc.

your logic is wrong.

they had zero when they started.

they borrowed 600 million to buy harrods.

they sold harrods for 1500 million.

they made a profit of 900 million.

profit after tax is 450 million.

therefore they are now 450 million pounds richer than when they started.

(im using the figures from this thread, i have no idea how much they borrowed, how much they sold it for or how much they had left over, but they certainly wouldnt of made a loss)

 

[Greenlizard0]

Ah, hadn't realised they borrowed to buy it (football it seems is plagued by this concept ). I also thought FrankJH meant Harrods over the years was in debt of £600m.

Wouldn't they have paid it off over the years or at least a good chunk of it? It would seem bizarre that they seemingly had gotten an interest free loan or something?

 

[Psycho Sonny]

Ah, hadn't realised they borrowed to buy it (football it seems is plagued by this concept ). I also thought FrankJH meant Harrods over the years was in debt of £600m.

Wouldn't they have paid it off over the years or at least a good chunk of it?

like i said before, i have no idea of their financials but i am assuming they were at least making interest payments otherwise, the 600 million figure would have risen substantially from when they borrowed it to probably be over 1500 million. im sure any businessman worth his weight in gold would know to try and pay the loan back as soon as possible. harrods would have been making huge profits, and its not only harrods they bought for 600 million they bought all of frasers (house of fraser).

so they bought a 70% stake in a chain of shops for 615 million (frasers plus harrods) and they sold harrods for 1500 million, yet they still own frasers. thats a huge profit.

im pretty sure they would have paid off the loan years ago, i checked wiki and it doesnt even mention him borrowing the money to buy it in the first place, there were allegations made but none of them could be proven.

as far as i was aware, fayed was already a billionaire before selling harrods. and he hadnt pumped that much money into fulham before (he had put some money in obviously but nothing compared to chelsea and man city). this thread is pretty much meaningless. its the same owner, who had the same amount of capital on hand before, he just now has it in cash rather than assets.

 

[Greenlizard0]

Yeah, I too was giving Wiki a scan through before I posted (23), couldn't find anything about how he exactly did things. Neither could I see whether he even borrowed the £615m which is why I don't think he and his brother did. As you agree they were very wealthy before hand via shipping etc.

I stand by my statement above. He's probably going to buy himself a huge island somewhere and veg out by the crabs.

 

[Psycho Sonny]

Yeah, I too was giving Wiki a scan through before I posted (23), couldn't find anything about how he exactly did things. Neither could I see whether he even borrowed the £615m which is why I don't think he and his brother did. As you agree they were very wealthy before hand via shipping etc.

I stand by my statement above. He's probably going to buy himself a huge island somewhere and veg out by the crabs.

im sure all their other business's made them extremely rich too like the ritz in paris. paris is one of the most visited cities in the world by tourists, and the ritz is one of the top hotels there, so im sure he would have been making a killing off of it.

so fulham has always had an extremely wealthy owner and they wont be buying in any world class players. they might be able to persuade some top class players though like the ones they have.

/close thread