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Paying off Bank Loans???

Started on 26 January 2010 by garry_1305
Latest Reply on 28 January 2010 by schnopsnosn
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Hey,

Does anyone know if there is a non-cheating method of paying off your club's bank loan (ie not using an editor)?

I am Manchester United who as many will know have a huge bank loan of about £500million that takes out about £3.8million p/m in repayments. I get huge transfer budgets though of about £70million but its got to the point where I don't really need to spend it all.

I wish there was a "Re-invest in club" option in the Adjust Budgets section so you could pay off these loans.

Any ideas?
well you could use FMRTE to decrease your debts and transfer-budget accordingly.
What is FMRTE?
a savegame editor.
it can be downloaded in the database
Hmmm OK. Thanks! I wish there was a legitimate way to do it in the game, but I guess its not really cheating if like you said I take the same amount off my transfer budget that I do off the loan is it?
I think you're failing to understand the concept of "transfer budget"

Transfer budgets are not actual money, rather they are simply a portion of your club's finances that they would be willing to let you spend on signing new players.


So if for example my club has a balance of 100 million, a transfer budget of 100 million, AND a loan debt of 100 million, does this mean I can use my transfer budget to "pay off" my loan debt, and I'm left with my bank balance of 100 million?

The answer is of course no, you would instead be left with nothing.


So what you can do if you don't need that transfer money is just convert it to wage, or just let it sit there, and maybe if you find a good player you can use it.

In the meantime while it's not being spent it simply sits in your bank and generates interest.



Don't worry, if you don't spend that 70 mil this year it won't "disappear"... It means at the end of the year you would be deducting 70 less mil from your turnover - that could mean a big difference between a profitable year and a losing year! And if the club is making profit, they would be more willing to let you spend more the year after that!


Hope this explained the meaning of a transfer budget to you :)
I hadn't considered carrying the money over or the interest gained on keeping the money. Thanks for your comment.

I do however understand what the transfer budget is and where it comes from. Surely if they are willing to part with £70million to other clubs in exchange for players then the money could be used in the exact same way to pay off debts? I'm in 2017 and have just finished paying a £185million loan, which means I am now have £1.8million less going out per month, which works out to a profit of roughly £20million a season. If they could do the same with my £3.8million p/m loan and reduce the payments then this is a lot of money coming in every month, and thus surely would add up and give a large enough profit to justify that £70million paying off debts.

Basically, I understand how transfer budgets work and where they come from (I think!), I just don't get why if the club are willing to allow me to spend that much on players why I can't decide to use it to decrease monthly payments?

Thanks for the advice though :)
@saplingg:
well of course he would have to subtract those 70mil from his balance aswell.
forgot about it, thanks for mentioning it.
I think we have a pretty good discussion going on club finances here :)

You're right in saying that paying off the loan would do well to reduce interest payments out and result in more profits, unfortunately I think the game is more focused on the football and less on the money so we don't really get to choose.


I suppose SI wanted to leave this sort of thing to the AI to decide, one thing to note is that Chairmen do have hidden attributes which tell them how good they are at financial control, their generosity towards their budgeting, and also other things like their capacity to handle losses.

So ultimately (and I suppose realistically - board members don't usually appreciate advice from head coaches AFAIK :P) the decision is up to your boss, along with other decisions like his willingness to "give extra transfer budget" or "expand the stadium".


Also, it's possible that there is an early repayment penalty on your loan (as most loans do have) and Mr Gill feels it would be more profitable to strengthen the squad and win trophies than to incur these penalties :)
well since it's the glazer's money i wouldn't give a damn about any fees :D
schnopsnosn : well since it's the glazer's money i wouldn't give a damn about any fees :D

:D very true
don't usually pay attention to club debts and concentrate on the transfer business
well with ManU you should.
as soon as i paid off my debts my transfer budget increased from 70mil to 175mil(!!!)
Yh with the big debt clubs, you should but i stick to the lower league teams and try to build them up, so I'm usually not in a massive amount of debt :D
saplingg : one thing to note is that Chairmen do have hidden attributes which tell them how good they are at financial control

Soooooo, Man Utd's would suck then with the Glazers and mean I SHOULD take matters into my own hands? :P

FM_MUFC : Yh with the big debt clubs, you should but i stick to the lower league teams and try to build them up, so I'm usually not in a massive amount of debt :D

*Sigh* I wish I had the patience to play the game like this, but like Ashley Cole I just get get blinded by the big money. I salute you Sir!

Getting back on topic though, those are some good points 'saplingg'. What is an early repayment penalty though (Im guessing quite self explanatory from the name)? Also, I agree the Chairman might feel it more beneficial to strengthen the squad and win trophies, but my squad is already strong enough. I'm at that lucky point where no one is getting too old and every position has a world class player so wont need to buy big for at least a season or two, so to be able to suggest to the Chairman to reinvest some of the money would be a good option for FM 2011 I think?
garry_1305 : *Sigh* I wish I had the patience to play the game like this, but like Ashley Cole I just get get blinded by the big money. I salute you Sir!

Getting back on topic though, those are some good points 'saplingg'. What is an early repayment penalty though (Im guessing quite self explanatory from the name)? Also, I agree the Chairman might feel it more beneficial to strengthen the squad and win trophies, but my squad is already strong enough. I'm at that lucky point where no one is getting too old and every position has a world class player so wont need to buy big for at least a season or two, so to be able to suggest to the Chairman to reinvest some of the money would be a good option for FM 2011 I think?

Good shout with the suggestion to re-invest for FM 2011, SI should take a look into it. Usually a use up all the transfer budget, but when you get a tycoon investing around 150 million for transfers alone, I just have it sitting in the bank, which is a bit of a waste or convert to wages.

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