Benham Cash

stoney04

stoney04

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Benham Cash

sorry if there is a thread on this already? how much of his money have we got and do we pay it back?

minimal details please... pardon my arrogance
 

Benham Cash

stoney04 said:
sorry if there is a thread on this already? how much of his money have we got and do we pay it back?

minimal details please... pardon my arrogance (ignorance you mean :sorted:)
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there are loads of posts on this.

IIRC his 'loan' to BU is probably around the £4.5 mill to £5 mill mark. MB's 'investment' of £5 mill a year (initially £500k to cover costs and £500k on playing budget) has now been moved forward with AS asking for a 3 year plan (i don't think this is official though.............) then that £5 mill investment will be taken in shares of Brentford FC (35% Shareholding), plus his loan will be converted into shares, therefore in 5 years time MB will own 95% of shares in BFC, it's up to BU to decide whether they pay back MB in full and hang to BFC (BU keep 60% of BFC shares and owe £4.5 mill to MB) or give MB the club as major shareholder. BU will have the golden share of GP. Also, don't forget the Academy investment MB is making which isn't in any deal, this is off his own back so to say, £1 mill plus IMO. So an investment of £10 mill for a major shareholding.

As for all the others that have loans..............:shrug: they'll have to sing for it i suppose...................

No doubt this is all wrong........................
 
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Benham Cash

Apart from the MB money who else do we owe and how much.
Surely we must be close to paying off some of them
 

Benham Cash

What I don't get is this idea that everyone thinks we're loaded. Surely a million quid a year doesn't go far with the money the club's losing? :confused:
 

Benham Cash

vcmazz said:
What I don't get is this idea that everyone thinks we're loaded. Surely a million quid a year doesn't go far with the money the club's losing? :confused:
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He has put a lot more up for playing budget
 

Benham Cash

reg partridge said:
Apart from the MB money who else do we owe and how much.
Surely we must be close to paying off some of them
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This question needs to be answered by a BU spokesperson.

There's about £5 mill owed to BU, directors, bank (I think) and LB of Hounslow.
 

Benham Cash

Banana said:
Doesn't it need to be answered by a BFC spokesman as it is about BFC?

Anyway, a read of this thread about the last BFC published accounts might help: https://griffinpark.org/forums/showthread.php?t=69155
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These look like the 2008 accounts to me. The 2009 accounts are out there somewhere and the 2010 accounts are on my desk.

The answers to just about every question anyone could possibly have on the financials will be either on the GPG or BU or BFC official website.
 

Benham Cash

Let us back those that back us...

Matthew Benham's loans, and subsequent investment, have been a fantastic boost for our club. Allied to the loans, and considerable time and expertise, put in by others such as abee , BeeH, and others on the BFC and BU boards etc, this gives us hope for the future. Not just for survival, but for real progress on and off the pitch.
We cannot, however, take the continuance of all this for granted.
It is vital that Matthew Benham, and the others, get fulfilment out of this, and that they get the backing and support of all Brentford fans.
Basically, we need Matthew Benham and the others to greatly enjoy the experience so that they will want to continue helping the club in such a big way.
Despite our current position in the table, and some of our frustrations, let us all get behind the team, and the club, and encourage more to come along to Griffin Park, and show that Brentford Football Club is worth backing now and in the future!
Let us see what each of us can do to play our part in the 'partnership' that can take our club forward...
 

Benham Cash

thanks lads,
 

Benham Cash

I'm guessing Mr Benham is put more than £1m a year into the BFC coffers. Is this extra going to be treated the same as the agreement or is it a loan? abee?
 

Benham Cash

bonafidebee said:
I'm guessing Mr Benham is put more than £1m a year into the BFC coffers. Is this extra going to be treated the same as the agreement or is it a loan? abee?
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The partnership agreement allows for a *minimum* for £1m per year and it's all treated the same i.e. for purchase of preference shares, not as loans
 

Benham Cash

Banana said:
The partnership agreement allows for a *minimum* for £1m per year and it's all treated the same i.e. for purchase of preference shares, not as loans
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When will MB actually be the majority shareholder ?
 

Benham Cash

shouldbee said:
When will MB actually be the majority shareholder ?
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It's all 'what ifs' really. But at the end of the 2013/14 season it might be a bit clearer.

All this means that Bees United will continue to hold a majority stake of around 60% in the Club, at least until the end of the 2013/2014 season, and can maintain the number of its representatives on the Club board. Matthew Benham will have operational control of the Club and a minority stake of about 35%. Meanwhile, he will be building up a holding of non-voting preference shares in return for the money invested into the Club.

At the end of the five-year period, Bees United will have the option to repay Matthew's existing £4.5 million in loans to the Club and buy his preference shares according to an agreed valuation formula.

However, if Bees United does not do so, Matthew Benham has the option to take over majority control of Brentford Football Club by buying most of Bees United's shareholding and converting all of his debt into more preference shares, thereby significantly reducing the Club’s debts.

If neither Bees United nor Matthew Benham exercise their options, then Bees United will continue as majority shareholder, Matthew Benham will continue as minority shareholder and significant creditor – he would still be owed £4.5m by Brentford Football Club – and would have no further obligation to provide the Club with additional funding.
Bees United will, in any event, keep at least a minority shareholding and retain a 'golden share'. This will protect against the sale of Griffin Park or any future home ground, unless Bees United agrees that a sale would be in the best interests of the Club.
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