The Liverpool bank loan

[Sean Taylor]

Right so i'm Liverpool and they start off having to pay a £37mil bank loan off immediately, paying 221k p/m. My question is that if my Liverpool started making monthly profit and our bank balance grew and grew, is it possible that the chairman pay off the outstanding loan/pay a chunk of it or does he have to pay the 221k per month?

The reason being is that I can barely sell players because of the transfer revenue i'm allowed which currently stands at a poxy 30% -.- So basically he is hogging all the funds just to help with the outgoing payments. Also no matter how many times I ask the board to increase the transfer revenue they just won't budge the stubborn mares -.-

Oh and uhmm i'm not actually making a profit, in fact i'm losing a lot of money since i did one or two 48 months deals which were about 3-4 mil each. But if i was making profit and had a healthy bank balance would the chairman pay off some of it?

I did google about this but all I found were threads of older versions of the game asking about it. And all i could find on here was about actually taking out a loan.

Thanks in advance if you do help

 

[Niall]

In my experience if you do manage to save up a significant cash reserve in your bank account then the board will use some of this to pay off a lump sum of the loan, though this may be influenced by the chairman's hidden attributes.

 

[Raikan007]

normally when taking out loans from banks/institutions there is a clause that the amount loaned cannot be paid back in large lump sums which will reduce the monthly payment terms, this is how banks make money from the interest they generate from offering companies/individuals credit/loans it is normally in real life a set payment term (years and the same amount paid every month until the the amount is paid off)

In football I am not sure if they have different rules or not but I assume not, yes Owners write off debt from other expences but loaning money from the banks should not be able to write off as per the reasons in my paragraph above..

If someone can clear that up it would be greatful

 

[JamieFm91]

In real life terms, you agree a payment arrangement which involves interest etc as said above but you can pay it off early (if the bank agrees to) at the cost of an early repayment fee (that is usually written in the contract of the loan) ...which is usually quite a large sum added on top of the final amount but in fm i don't think they take this into consideration especially since its unlikely that the bank will agree to early payment cause then they'd be losing out

 

[Sean Taylor]

Ahhh okay, thanks for the responses guys Looks like i've got to wait until 2030 until it's all paid off then -.-