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Just noticed a stock market announcement which shows that Steve has sold around £100m of Hargreaves Lansdown shares.  Whilst this has resulted in a £2 drop in the firms share price, it also means that he has £100m to spend.  Whether any of that will come the way of BCFC, I don't know.

I would imagine he is simply expecting a massive fall in markets and waiting for the drop to teinvest, but who knows?

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55 minutes ago, wendyredredrobin said:

Just noticed a stock market announcement which shows that Steve has sold around £100m of Hargreaves Lansdown shares.  Whilst this has resulted in a £2 drop in the firms share price, it also means that he has £100m to spend.  Whether any of that will come the way of BCFC, I don't know.

I would imagine he is simply expecting a massive fall in markets and waiting for the drop to teinvest, but who knows?

Hargreaves sold a lot more of his holdings just before the lockdown. Fortunate?

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7 minutes ago, Port Said Red said:

Hargreaves sold a lot more of his holdings just before the lockdown. Fortunate?

Saw it coming or was told it was coming, I guess. If I remember correctly he sold at around £17.50 whilst Steve sold at at around £15.50.  Closing price today is £14.40 (that's around £10 per share below it's 12 month high).

Edited by wendyredredrobin
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No capital gains in Guernsey.

If I'm a decent national journo, there's an interesting story (or segement) waiting to happen here. Consider the facts.

1) Pandemic- national crisis?

2) SL tax status since 2010.

3) Furloughed staff. 20% down, yet the top cost.

4) Players defer- good albeit temporary.

5) No top up of furloughed wages.

6) SL gains £100m..no capital gains.

Taking furlough at a time at a timr of national crisis, £100m NOT subject to capital gains, while for regular staff 20% surely disappears into the ether.

Some national paper could have a field day I reckon.

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25 minutes ago, Mr Popodopolous said:

No capital gains in Guernsey.

If I'm a decent national journo, there's an interesting story (or segement) waiting to happen here. Consider the facts.

1) Pandemic- national crisis?

2) SL tax status since 2010.

3) Furloughed staff. 20% down, yet the top cost.

4) Players defer- good albeit temporary.

5) No top up of furloughed wages.

6) SL gains £100m..no capital gains.

Taking furlough at a time at a timr of national crisis, £100m NOT subject to capital gains, while for regular staff 20% surely disappears into the ether.

Some national paper could have a field day I reckon.

I see it more along the lines of if Steve remained a UK resident, £40m would go to the tax man, whereas by being non resident, he could choose to spend that £40m on BCFC.  I guess that depends on what your point of view is and how you rate your priorities.

Either way that money would probably end up going into a bottomless pit 😀

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1 hour ago, wendyredredrobin said:

I see it more along the lines of if Steve remained a UK resident, £40m would go to the tax man, whereas by being non resident, he could choose to spend that £40m on BCFC.  I guess that depends on what your point of view is and how you rate your priorities.

Either way that money would probably end up going into a bottomless pit 😀

Could use a little bit of that to top up the other 20%.

Generally? Oh there is no doubt we and other businesses he owns could benefit.

Off the back of it, so could the taxman in due course- wages, jobs, if some of that helps us get into the PL more tax via wages, tax via higher turnover if profits posted. Possible multiplier effect in the medium to long term

In the here and now though, looking at it from a purely public POV, is it a good look?

I maintain, it has newsworthiness potential.

Edited by Mr Popodopolous
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Maggie must have gone a bit over the top stockpiling t rolls, pasta and flour!  :)

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Interesting piece- it's about Hargreaves primarily but they were a pair for many years?

This was back in January and may already have been posted elsewhere on here.

https://www.thisismoney.co.uk/money/comment/article-7900405/ALEX-BRUMMER-Charitable-foundation-raises-question-did-Peter-Hargreaves-wealthy.html

An article actually relevant to my point, below- it's a debate that's definitely being had.

https://www.dailymail.co.uk/news/article-8259113/ALISON-BOSHOFF-asks-fatcats-worth-millions-want-taxpayers-cover-staff-wages-lockdown.html

Edited by Mr Popodopolous
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Bear in mind that although hugely wealthy, someone like this has an uncomfortable percentage of their means tied up in one company.

He may need £100M for something. On the other hand he may simply be risk managing his portfolio of assets - like a lot of other investors  - by getting a proportion out into cash. This would protect him in case we have another huge market correction, or even a 1929 Wall Street Crash scenario.

I'm sure all of us with a pension fund in unit trusts are going through similar thought processes.

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23 hours ago, Mr Popodopolous said:

Could use a little bit of that to top up the other 20%.

Generally? Oh there is no doubt we and other businesses he owns could benefit.

Off the back of it, so could the taxman in due course- wages, jobs, if some of that helps us get into the PL more tax via wages, tax via higher turnover if profits posted. Possible multiplier effect in the medium to long term

In the here and now though, looking at it from a purely public POV, is it a good look?

I maintain, it has newsworthiness potential.

As SL and Hargreaves Landsdown have been the biggest tax payers in Bristol for years its about time the guy managed to keep some for himself to invest in his pet projects.Fair play SL..if it was me or 99.95 % of people on here we would do the same in his position.He has paid his dues.

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12 minutes ago, davidoldfart said:

As SL and Hargreaves Landsdown have been the biggest tax payers in Bristol for years its about time the guy managed to keep some for himself to invest in his pet projects.Fair play SL..if it was me or 99.95 % of people on here we would do the same in his position.He has paid his dues.

Fair enough.

I'm wondering how it'd be seen in general- at a time of national emergency, by the wider population. As you say, a load of tax paid and paid through HL- I've got mixed views. He's certainly NOT a Branson or a Philip Green.

When he's just earned £100m tax free though, not topping up those on furlough isn't a good look. From that (purely that) angle, it puts him on a par with Mel Morris at Derby and he's not got the best reputation as an owner.

Maybe there are other owners doing similar at this level- I'd have to look further.

Unsure about your 99.95% thing. Liverpool fans kicked off about furlough, quite a lot of Tottenham fans too about their club. It's a tricky one as I say but I can tell you that if a journo dug in the right places, I have to doubt it'd find favour public opinion wise- talking on that latter point more widely.

Edited by Mr Popodopolous
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46 minutes ago, Mr Popodopolous said:

Fair enough.

I'm wondering how it'd be seen in general- at a time of national emergency, by the wider population. As you say, a load of tax paid and paid through HL- I've got mixed views. He's certainly NOT a Branson or a Philip Green.

When he's just earned £100m tax free though, not topping up those on furlough isn't a good look. From that (purely that) angle, it puts him on a par with Mel Morris at Derby and he's not got the best reputation as an owner.

Hadn't he already earnt it? He just cashed it in at the right time. Of course, he could bring it back into the economy and let the treasury dish it out to whomsoever they think fit.

On the other hand, he could inject it straight into the local economy to provide facilities for the region and jobs for the people of the region, which would then contribute directly in taxes for the region, which he's done several times in the past. I don't mind wealthy people avoiding tax once they've retired, I expect he's paid enough in taxes through his companies and their employees throughout his career.

I'm not having a dig at you mind, just putting a different viewpoint on things. If we all paid more taxes to central government, this area would still be overlooked for investment, when compared to other areas, especially using the Barnett formula. It always has been overlooked, that's one reason for our lack of certain amenities.

Of course, he could have just done it to protect his investment, which is understandable as well.

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2 hours ago, davidoldfart said:

As SL and Hargreaves Landsdown have been the biggest tax payers in Bristol for years its about time the guy managed to keep some for himself to invest in his pet projects.Fair play SL..if it was me or 99.95 % of people on here we would do the same in his position.He has paid his dues.

This has to be a fair point surely.How much has SL already paid in tax?,how many people has he given employment to?How much income has he brought in to shops pubs etc in the Ashton Gate area?How many more jobs will he create when the next phase of the development takes place and is completed. Compare that to companies like Google and Amazon,who make immense profits in this country and have apparently never paid any taxes.

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4 hours ago, davidoldfart said:

As SL and Hargreaves Landsdown have been the biggest tax payers in Bristol for years its about time the guy managed to keep some for himself to invest in his pet projects.Fair play SL..if it was me or 99.95 % of people on here we would do the same in his position.He has paid his dues.

Keep some for himself? He's a billionaire. 

He can make 1,000 people millionaires and still have 1.2 billion left. 

But hey, let us pay for his staff instead as they earn 80% whilst the rest of the squad earns thousands a week. 

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37 minutes ago, Selred said:

Keep some for himself? He's a billionaire. 

He can make 1,000 people millionaires and still have 1.2 billion left. 

But hey, let us pay for his staff instead as they earn 80% whilst the rest of the squad earns thousands a week. 

Is there a list where you can add your name? :)

 

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5 hours ago, Rich said:

Hadn't he already earnt it? He just cashed it in at the right time. Of course, he could bring it back into the economy and let the treasury dish it out to whomsoever they think fit.

On the other hand, he could inject it straight into the local economy to provide facilities for the region and jobs for the people of the region, which would then contribute directly in taxes for the region, which he's done several times in the past. I don't mind wealthy people avoiding tax once they've retired, I expect he's paid enough in taxes through his companies and their employees throughout his career.

I'm not having a dig at you mind, just putting a different viewpoint on things. If we all paid more taxes to central government, this area would still be overlooked for investment, when compared to other areas, especially using the Barnett formula. It always has been overlooked, that's one reason for our lack of certain amenities.

Of course, he could have just done it to protect his investment, which is understandable as well.

I'm on the fence. I think he could top up the 20% of furloughed staff though if he has indeed earned £100m tax free! Even an owner of the not great calibre of Chansiri is doing that...

Certainly don't disagree on this bit- always thought we've been overlooked for investment. as a city!

I put it down to a few things. We're not the capital- the capital is the driving force. We're not politically important as swing seats, less scope for handy local projects. We're not a target area- see the red wall, plus we're not historically deprived but nor are we overly wealthy either- we're sort of in a no mans land IMO! Plus the Celtic nations, looking to keep them in the union, plus the trouble in NI- cash poured in there.

So yeah, we fall below the cracks quite a bit, for a variety of reasons regionally- SL investing directly can in fact help fill some of the gaps.

4 hours ago, Slacker said:

This has to be a fair point surely.How much has SL already paid in tax?,how many people has he given employment to?How much income has he brought in to shops pubs etc in the Ashton Gate area?How many more jobs will he create when the next phase of the development takes place and is completed. Compare that to companies like Google and Amazon,who make immense profits in this country and have apparently never paid any taxes.

True. Google and Amazon, HQ is based in USA isn't it? Good point though, about multiplier effect.

He's far better than Green and Branson- yet I feel certainly the 20% for furloughed for a couple of months, he could do with ease.

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Although self employed, I had worked in Bristol for many years travelling in from Clevedon. The cost of actually going to work did mount up considerably with  the cost of fuel, parking, clothing for work and peripherals like coffee, lunches etc would easily get close to and probably exceeded 20% of my income.

As such, I would’ve been quite happy with an offer of 80% of my salary to stay at home and not to have to do any work at all. 

Steve undoubtedly shouldering the bill for the entire playing staff which will be eye watering sums of money, but I’d admit that I’m not impressed by the players not agreeing to cut their wages during this crisis, a deferral is in this instance is just savings scheme to them. 

From what I’ve read, I’m probably not alone in thinking that some out there need to be cut Steve some slack right now. The survival of many football clubs will be in jeopardy due to the pandemic and the government will have to stop handing out cash doggy bags like confetti. Steve and his family are the only ones stopping us dropping into a big black hole right now. 

 

Edited by Lord Northski
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5 hours ago, Mr Popodopolous said:

I'm on the fence. I think he could top up the 20% of furloughed staff though if he has indeed earned £100m tax free! Even an owner of the not great calibre of Chansiri is doing that...

Certainly don't disagree on this bit- always thought we've been overlooked for investment. as a city!

I put it down to a few things. We're not the capital- the capital is the driving force. We're not politically important as swing seats, less scope for handy local projects. We're not a target area- see the red wall, plus we're not historically deprived but nor are we overly wealthy either- we're sort of in a no mans land IMO! Plus the Celtic nations, looking to keep them in the union, plus the trouble in NI- cash poured in there.

So yeah, we fall below the cracks quite a bit, for a variety of reasons regionally- SL investing directly can in fact help fill some of the gaps.

True. Google and Amazon, HQ is based in USA isn't it? Good point though, about multiplier effect.

He's far better than Green and Branson- yet I feel certainly the 20% for furloughed for a couple of months, he could do with ease.

He earned that money from a different business.  Plenty of businessmen no matter the size of their business keep private and business matters separate.  By your reasoning a small businessman who employs a couple of people that he has furloughed, should use any money previously made to top up their 80%.  What should they all do, mortgage their houses, dip into their pension funds? 

It's not like he has avoided or dodged any tax is it, he lives in a country that doesn't tax that gain.  That's his prerogative. 

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5 hours ago, Maesknoll Red said:

He earned that money from a different business.  Plenty of businessmen no matter the size of their business keep private and business matters separate.  By your reasoning a small businessman who employs a couple of people that he has furloughed, should use any money previously made to top up their 80%.  What should they all do, mortgage their houses, dip into their pension funds? 

It's not like he has avoided or dodged any tax is it, he lives in a country that doesn't tax that gain.  That's his prerogative. 

Let's be  clear, he's not dodged tax. 

Is Guernsey a country or a jurisdiction? I'm not sure. Quick wiki search says it's a self-governing British crown dependency.

Anyway, I digress. In a time of global pandemic, more is expected. The Government appear not yet to be bailing out Branson.

A good reason for not topping up the furloughed staff when he's just earned £100m without any tax is...?

I don't think given his tax status that argument would wash in these times. Small business owners are generally not billionaires either.

Nor if they live in the UK, do they have the means to take an approach of upping sticks to the Channel Islands, surely. A tenuous comparison.

Now otoh we DID pay tax last season, finally. Simply because we made a profit. Claiming some of it back on furloughed staff may well be okay.

However in the prior season, we got a tax credit of £182,000. That's a quick skim of accounts but I struggle to see it being a good look in the court of public opinion.

Instinctively, this feels potentially newsworthy. Higher profile club and it likely would be covered more widely.

Here's a question right. Venkys are not a UK company. They topped up Blackburn's furloughed 20%.

Chansiri lives in or is from Thailand. Dunno if he's a UK taxpayer anyway.  Topped up Sheffield Wednesday staff 20%.

For what reason? Called doing the decent thing.

A far better comparison closer to home is Gibson at Middlesbrough. Quick Google suggested furloughed but that he WILL top up 20%. Always had SL and Gibson as similar. 

Another closer to home, who runs Derby terribly or has in recent years. Mel Morris. He furloughed and isn't.

Not the best company to be in.

Edited by Mr Popodopolous
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1 hour ago, Mr Popodopolous said:

Let's be  clear, he's not dodged tax. 

Is Guernsey a country or a jurisdiction? I'm not sure. Quick wiki search says it's a self-governing British crown dependency.

Anyway, I digress. In a time of global pandemic, more is expected. The Government appear not yet to be bailing out Branson.

A good reason for not topping up the furloughed staff when he's just earned £100m without any tax is...?

I don't think given his tax status that argument would wash in these times. Small business owners are generally not billionaires either.

Nor if they live in the UK, do they have the means to take an approach of upping sticks to the Channel Islands, surely. A tenuous comparison.

Now otoh we DID pay tax last season, finally. Simply because we made a profit. Claiming some of it back on furloughed staff may well be okay.

However in the prior season, we got a tax credit of £182,000. That's a quick skim of accounts but I struggle to see it being a good look in the court of public opinion.

Instinctively, this feels potentially newsworthy. Higher profile club and it likely would be covered more widely.

Here's a question right. Venkys are not a UK company. They topped up Blackburn's furloughed 20%.

Chansiri lives in or is from Thailand. Dunno if he's a UK taxpayer anyway.  Topped up Sheffield Wednesday staff 20%.

For what reason? Called doing the decent thing.

A far better comparison closer to home is Gibson at Middlesbrough. Quick Google suggested furloughed but that he WILL top up 20%. Always had SL and Gibson as similar. 

Another closer to home, who runs Derby terribly or has in recent years. Mel Morris. He furloughed and isn't.

Not the best company to be in.

SL is not on the board of BCFC is my understanding. Decisions are made by the board based upon decisions made by HM Govt. The board has furloughed employees who get a government payout to stay at home. SL taking a few bob from his portfolio is a separate issue and is up to him. As for the players, they are the key assets of the football club and as such have leverage, thus an agreement has been reached with them....Who do people think is funding the players wages with no income? Clue its not the ******* tooth fairy! I don’t see anything here!

As for Richard Branson. He is asking for Multi Billions to prop up a failing airline. Whether you think he should or should not get it rather depends on your outlook. Fly be and all those other airlines that have gone under in the last 18 months might object, or wave their hands out too. 

When this shit fest is over industries and lives will be changed forever Airlines and Aviation will take years to recover!!

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