Debt Help

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vande500

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I looked for a similar thread in the search feature but couldn't find anything so here goes my question. (Sorry Mods if it's in the wrong place, or there already is a topic about it.)

I'm Nottingham Forest and got promoted to the EPL first season. I had a youth facilities upgrade working, until I spent some money on players so that I could actually stave off relegation in the second season. It has been cancelled due to lack of funds. In my finances is says (3,454,651) as my funds, meaning I'm 3 million quid in debt. I however have 7 million in transfer budget.

My question is: How do I get that transfer budget into my total debt finances to pay off my debt?? I really need the upgrade, and don't really have any other players I want to buy.

I thank you for your help in this matter

-vande
 
Try going to the board room, and putting the slider bar all the way towards the wages rather than transfer budget.
 
they base the transfer money on ur overall income in season, so u can spend it mate as the board will have budgeted for it to start with. I hope that helps. i had similar thing 40m at club but 85 transfer budget.
 
DMF said:
Try going to the board room, and putting the slider bar all the way towards the wages rather than transfer budget.
Click to expand...

Alright Thank you! It went down about 1.5 million, so now I'm at 1.9 million in debt. I only have 20% transfer revenue made available, is that worth changing? Or does that not affect my debt??
 
just mean if u get 1million u will get 200k and board will get 800k so if u want to clear ur debt the lower the better
 
gallatron said:
just mean if u get 1million u will get 200k and board will get 800k so if u want to clear ur debt the lower the better
Click to expand...

Alright, thank you kindly! I also seem to receive quite a bit of money per month because of EPL TV contracts, so in a few months I should be able to clear the debt.

Thanks again!
 
Yea the tv money comes in installments hence why the board made that money available for transfer fee. I had a similar thing when taking swansea into prem but i got relegated and they stopped upgrades all together which was disapointing.
 
in my Sc Freiburg save I won the league in the 3rd season, at the start of the 4th, the board took out a loan for a new stadium (55million) the club is valued at 52million....

great, starting to pay off my 400k debts every month now... worst part about it, its only like an extra 12 000 seasts...

take all your transfer budget and put it into your wage budget, this will earn you interest as it is a forced saving and could help reignite your upgrade in the future :)
 
I don't know if I understood right, but if I have a debt of ... let's say 100M over 10 years and I save money like you said (slide the bar to wage), will the board pay the debt faster ? I hate debts and more I hate this scenario:

18M euro debt over 10 years --- 150k/month. Why don't they pay it over 2 years and get on with it ? Why would be want to cary this ... "disease" over 10 years ? Of course, I'm talking about clubs that can afford to pay it faster (Palermo, Tottenham ...)
 
thanks for the answers guy, no debt free. free at last.
 
this cannot be done, when you take loans from banks, you are forced to pay a certain amount of money over a certain amount of years (so if you take 60million out over 5 years repayments = 1million a month)

if you get some sort of cash injection of say 15million, you are NOT ALLOWED to pay this back to the bank in a lump sum to pay off your debt as this is how the banks make their money, on INTEREST!

its a fixed contract for the amount of years, you can only pay off the 1million every month, nothing more, nothing less and out of that, at least 150k is pure interest being paid to the banks, thats how they generate wealth :)

is that easy to understand? :)
 
I know how the banks work, I'm an accountant, I just thaught that you can pay "anticipated" + the interest if you can afford :)

I hate debt more than anything. Even if I have to pay 1$/year I would hate it just as much.
 
my apologies Mr :) some members are like 10 here, so I was going on that :)
 
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