Peter Etherington explores the line between football teams and their sponsors
Thanks for sharing your thoughts, Rob. To you and me, the promises the new stadium sponsors are making seem implausible and frankly baffling. Others will take them at face value, though, and stump up for a slice of the dream. For their sake, I hope we're both wrong and it all goes swimmingly.
Perhaps the acid test is if the club owners themselves are willing invest in these schemes. For them, however, a 25k loss is probably easier to shrug off than your average fan in the stands. I wonder if any of the Bromley board at the time put money into Buy2LetCars?
Peter, so much to respond too, but being on holiday with only my iPhone it would take ages to reply to everything.
I first, tongue in cheek, noted on the forum the fantastic returns available from Reloc8 EM. To offer £185,000.00 on a £25,000.00 investment ‘guaranteed’ is without doubt a nonsense, does this sponsorship come with a club endorsement, no, the same as the roofing company who pays for his perimeter board doesn’t. However the game changer is when the Chairman in open forum confidently says “we have done our due diligence, they paid their sponsorship money in full” it gives an air of credibility to the scheme.
Quite what due diligence the club did is what bothers me. Within five minutes of company checks, website scanning and linked in investigation the only thing that screamed out to me was “walk away old son”.
If the scheme is water tight and the club are short of cash to finish the terrace roof why not invest in Reloc8 EM and get the money that way. If AW’s budget is as low as we are led to believe, invest the whole budget with Reloc8 EM we would make Wrexham look like paupers.
I’m not sure whether Sourced Property who it appears Reloc8 EM are a franchisee of (same scenario as cars to let) are registered with the FCA, surely the club would have been satisfied that they are from their due diligence.
My point would be, if a company is offering £185k return for a minimal £25k investment which apparently the investor gets back, why would they need investor's.
I’m back for the Gateshead game, if you’re there, let’s have a chat, Mash will point me out.
Sorry for your loss Peter. Thank you for writing a very thought provoking article of which I’m sure your dad would have been proud.
Peter, that is a very well put together article that obviously comes from the heart. My family went through much the same and it has brought back memories that I never wanted to re visit. I will sleep on it and respond.
There is a difference between a simple ‘bill board’ sponsor,a sponsor a shirt fan and a Brand claiming rights to blazon their name on the Stadium as a ‘Partner’
A Partner in crime,if that is what turns out,Morally and legally in every sense an endorsement.
Particularly if those ‘Partners’ are allowed to do their business on the club premises.
Great article Peter as always, condolences on the loss of your father however.
Football just loves getting into bed with anyone who likes to show the colour of their money, only when they're told to do they tone it down, I've heard from a couple of your supporters how odd this company appears now as the stadium sponsor, while they might have paid up front to the club, it sounds as dodgy as hell for you or I to invest, as the Dragons would say, 'I'm out'........
Hi Peter, thanks for the as always excellent article. Please accept my condolences for the loss of your dad, it must have been an awful time for you and your family. There’s certainly been a few chancers floating around the club over the last few years (and before!) but Buy2let was a real low. Until this new mob showed up of course.
I know someone who lost a substantial amount (close to 6 figures) of his retirement funds by investing in the buy2let ‘Ponzi scheme’, the repercussions of which have affected his family’s life massively. As you say, it’s still ongoing with little likelihood of a positive result for him and other investors.
It says a lot about RSG as a person that he’s happy to take the reloc8 money without batting an eyelid and I’m sure he’ll lose no sleep over it when things inevitably go tits up. A real cliche I know, but if something looks to good to true...
I just hope none of our fanbase are tempted to invest.
Thanks again for bringing this subject into the light and keep the great articles coming
Thanks Peter. A well thought and well articulated piece. Let us hope that your words along with all of the other words that have been written on social media serve as a warning to supporters. I take some comfort from the fact that the ridiculous promotional video has been taken down from Bromley FC's Fcebook; perhaps people within the club are listening and having second thoughts.