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Brighton Funding

It appears as though that English Brighton and Hove Albion’s finances have improved overnight, following news that property developer Tony Bloom has handed over GBP 80 million to the club.

Multi-millionaire Bloom has since taken the reins from Dick Knight, who moved from his 12-year stint as chairman into the role of life president.

While other clubs continue to battle the economic crisis sweeping worldwide, Bloom has saved Brighton and Hove Albion from possible financial repercussions by issuing an interest-free loan to the club.

The funds will be invested in the new GBP 93 million stadium that is currently being erected, with plans for the venue to help bring Brighton back into the Championship league as soon as possible, as noted by The Telegraph.

Bloom is now considered the club’s majority shareholder, after he transferred GBP 18 million worth of loans into shares. Holding slightly more than 75 percent, Bloom could potentially secure 90 percent of Brighton by converting loans due for repayment in 2023.

The poker player, often referred to as ‘The Lizard’ moved from a career in sports betting to property development, with his company securing a considerable GBP 7.5 in turnover last year.
 
The football ties run thick in Bloom’s family, with his uncle acting as a Brighton director and his grandfather, Harry Bloom, a former vice-chairman of the club.

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