MrBunce

Very pleased to see this announced. I was bitterly disappointed that it didn't make it into the parliamentary wash up. If the rumours pre-election are true then Mark Phillips KC is tipped for the job. I've had the pleasure of working with him. Monumentally intelligent and tenacious, a top sports lawyer and a great bloke to boot.

That's a load of nonsense. For another example of how ChatGPT can spout nonsense: "In football terms, the "Pride of East Anglia" refers to Ipswich Town Football Club. This nickname is often used to highlight the club's achievements and its status within the East Anglia region of England. The term is also sometimes used in the context of the rivalry between Ipswich Town and Norwich City, with both clubs vying for regional superiority." Emphasis mine.

I was sceptical as this poster made up a rumour Attanasio was taking over the club based on old information from Companies House.

Good call. I used the following prompt: "Creating a football-focused investment fund involves setting up a legal entity where investors pool their resources specifically for acquiring players. how would it work?" ChatGPT said: Creating a football-focused investment fund (FFIF) involves a structured approach that integrates legal, financial, and operational frameworks. Here's an outline of how it would work: ### 1. Formation of the Legal Entity **Structure**: The fund can be structured as a limited partnership, limited liability company (LLC), or a special purpose vehicle (SPV). The choice depends on the regulatory environment and tax implications. **Jurisdiction**: Select a jurisdiction that offers favorable conditions for investment funds. Common jurisdictions include the Cayman Islands, Luxembourg, or Delaware. **Registration**: Register the entity with the relevant authorities, ensuring compliance with local laws and regulations. ### 2. Fundraising **Prospectus**: Develop a detailed prospectus outlining the fund’s objectives, strategy, risk factors, and expected returns. **Marketing**: Market the fund to potential investors such as high-net-worth individuals, institutional investors, and football enthusiasts. **Commitment**: Obtain capital commitments from investors. These commitments are often called "subscriptions." ### 3. Governance and Management **General Partner (GP)**: Typically, the fund’s managing entity, responsible for investment decisions and fund operations. **Limited Partners (LPs)**: The investors who provide capital but do not partake in day-to-day management. **Advisory Board**: Optional, comprising experts in football and finance to provide strategic guidance. **Management Fees**: Define the fee structure, often including a management fee (e.g., 2% of assets under management) and a performance fee (e.g., 20% of profits). ### 4. Investment Strategy **Scouting Network**: Establish a network of scouts and analysts to identify promising players. **Data Analytics**: Use advanced data analytics to assess player potential and market value. **Acquisition**: Acquire players’ economic rights, either fully or partially, directly from clubs or through third-party ownership where legally permitted. ### 5. Player Management **Development**: Invest in the development and training of players to enhance their skills and market value. **Placement**: Place players with clubs where they can gain experience and visibility, ideally under favorable conditions for their growth. **Monitoring**: Continuously monitor player performance and market trends to make informed decisions on holding or selling the player's rights. ### 6. Exit Strategy **Transfer Market**: Sell players to other clubs at a profit, ideally at a peak in their career to maximize returns. **Release Clauses**: Negotiate favorable release clauses to ensure profitable exits. **Dividends**: Distribute profits to investors according to their share in the fund, after deducting management fees and other expenses. ### 7. Compliance and Risk Management **Regulatory Compliance**: Ensure compliance with all relevant football association regulations (e.g., FIFA, UEFA) and financial regulations. **Legal Framework**: Set up contracts and legal safeguards to protect investments and manage risks associated with player injuries, underperformance, or legal disputes. **Insurance**: Consider insuring key players against career-ending injuries or other significant risks. ### 8. Reporting and Transparency **Regular Reports**: Provide investors with regular updates on fund performance, player development, financials, and market conditions. **Audits**: Conduct regular financial audits to ensure transparency and build investor confidence. ### Key Considerations - **Ethical Issues**: Address ethical concerns related to the commercialization of players and ensure fair treatment and compensation for the players. - **Market Volatility**: The football market can be volatile; thorough due diligence and risk mitigation strategies are crucial. - **Regulatory Changes**: Stay updated with changes in football and financial regulations that might impact the fund’s operations. By carefully planning and executing these steps, a football-focused investment fund can effectively pool resources to acquire and develop football players, aiming to generate substantial returns for its investors.

I couldn't find anything about this. What is your source?

I think year 1 parachute payments are roughly somewhere between £40m and £45m (vague recollection from Kieran Maguire). This is 55% of the equal broadcast share. Reduces to 45% in year 2 and 20% (if applicable) in year 3. The Premier League used to publish the broadcast revenue figures but haven't for several years. I think the EFL media deal was roughly £5m per year, under the old deal.

I'm not sure whether the C-prefs can be used for PSR purposes. The EFL rules refer to the share capital account, for which in the club's accounts, the C-prefs are classed as liabilities not share capital. That would of course change on redemption with the £10m going into the share capital account. I'm sure the club have clarified treatment with the EFL. Whether it's included or not, I'm not worried about PSR. I reckon the club may make a small profit in this year's accounts.

I don't think PSR will be an issue. Firstly, the club have the incomings for selling Omobamidele, Aarons, Rachica and Mumba (>£20m in total) plus Tzolis (assuming completed before end of June). Second, the Attanasio loan conversion of around £4.7m earlier this year increases the allowable loss. Thirdly, the club will have significantly reduced their wage bill this season. For example, Pukki leaving alone will reduce the bill by £2m (£40k per week). Finally, interest costs will likely be lower due to loans (from Attanasio and the those secured on parachute payments / transfer receivables) maturing.

Not for PSCs. They must update their PSC register in 14 days and then notify CH 14 days after that.

Understood. If so, definitely barking up the wrong tree! Or let me put it another way, that notification on CH was submitted late by the club... a year after the event! 😅 So there'll be plenty of time for a certain poster to ride their hobby horse for now!

As I think @GMF pointed out on another thread, this is because MA has the 10,000,000 C Preference shares. He has >75% of all shares, just not voting shares (although he would also be a PSC due to having >25% and also because of the shareholder agreement with Delia and Michael which gives them >50% voting power). Another clue, look at the date of notification - September 2022. The above is old news, separate to any potential future takeover.

20-40% discount is typically what I would be considering for a minority holding like this, dependant on the specific facts. Even £175m feels very high, at the very top end you'd expect a Championship club to potentially transact at. From what I've seen online, some questionable presentation of the financials as well.

I voted for Sargent. He might not have been the best player or played the most games. But he's been by far the most important. Record when Sargent starts: P21 W14 D4 L3 pts 46 ppg 2.19 Record when Sargent doesn't start: P22 W7 D4 L11 pts 25 ppg 1.14 Extrapolated over 43 games: When Sargent starts: 94 points, 1st Actual: 71 points, 6th When Sargent doesn't start: 49 points, 17th

I broadly agree. I'd 100% take Farke over Wagner. I'd very likely take McKenna, Corberan and Robins. I haven't seen enough of Maresca and Rosenior. I'm unconvinced on Martin.

Hogesar: I know Idah/SvH is your pet topic but stepping back has it really made any difference. Looking at the results, I can't see how any of them would have been different with Idah. The team were well beaten against Leicester and Boro. The draws away at QPR and Blackburn are decent points on the road where leads were let slip. Besides, Idah hadn't scored in nearly two months by the time he left and only twice in five months - despite a lot of game time. I'm willing to trust Knapper's and Wagner's strategic judgement on this, even if short-term it doesn't seem to have 'paid off'. All: Back to the topic at hand, a hypothetical question: looking at the other teams at the top of the table, which of those would you take over Wagner? (i.e. Maresca, Farke, McKenna, Martin, Corberan, Robins and Rosenior)