How does my credit card company know what purchase I make to withhold monies from the company I made a purchase with?
My spend with the Club could be ST money, but it just might have easily be Club shop purchases, hospitality purchases or sponsorship.
If the Club has a separate accounting system for ticket office purchases, my credit card spend could well be on a dozen match tickets for the next home game rather than from a ST purchase. Or a 'Jackson 5' - would they drip feed that?
How does my credit card company know what purchase I make to withhold monies from the company I made a purchase with?
My spend with the Club could be ST money, but it just might have easily be Club shop purchases, hospitality purchases or sponsorship.
If the Club has a separate accounting system for ticket office purchases, my credit card spend could well be on a dozen match tickets for the next home game rather than from a ST purchase. Or a 'Jackson 5' - would they drip feed that?
Sounds a load of old baloney to me.
Different merchant code for the box office, standard procedure for most places to have different sub accounts for different business units.
How does my credit card company know what purchase I make to withhold monies from the company I made a purchase with?
My spend with the Club could be ST money, but it just might have easily be Club shop purchases, hospitality purchases or sponsorship.
If the Club has a separate accounting system for ticket office purchases, my credit card spend could well be on a dozen match tickets for the next home game rather than from a ST purchase. Or a 'Jackson 5' - would they drip feed that?
Sounds a load of old baloney to me.
Different merchant code for the box office, standard procedure for most places to have different sub accounts for different business units.
OK - so how do you identify the difference between a ST, a block of tickets for a single match or as I said a 'special' like The Jackson Five?
When I bought mine with Barclaycard for their zero percent offer for life for football STs many moons ago, they initially added interest as they had no way of identifying the purchase as a ST purchase. I had to send them proof.
How does my credit card company know what purchase I make to withhold monies from the company I made a purchase with?
My spend with the Club could be ST money, but it just might have easily be Club shop purchases, hospitality purchases or sponsorship.
If the Club has a separate accounting system for ticket office purchases, my credit card spend could well be on a dozen match tickets for the next home game rather than from a ST purchase. Or a 'Jackson 5' - would they drip feed that?
Sounds a load of old baloney to me.
Different merchant code for the box office, standard procedure for most places to have different sub accounts for different business units.
OK - so how do you identify the difference between a ST, a block of tickets for a single match or as I said a 'special' like The Jackson Five?
There are a number of different phases to a transaction on either credit or debit cards. (I'm guessing this issue the club is having will also apply to debit card transactions for season tickets because of the debit card chargeback scheme.)
But in a nutshell there will be a "payment service provider" who organises the transaction either through an in-shop terminal or on-line. And an "acquirer", which may or may not be the same as the payment service provider. The acquirer will have a contract with the merchant and effectively set up a line of credit.
The acquirer is responsible for receiving transaction details once they’ve been collected by the payment service provider.
It then passes them through the card scheme and to the issuer. The acquirer also receives the payment from the card issuer and pays it into the retailer’s bank account (less fees).
So, in the event that goods or services are not provided, that whole process would be unwound. You would claim off your card issuer who would, in turn claim off the acquirer, who would claim back off the retailer (if it was still trading). Risk flags start flying if 1% or more of transcations are reversed or charged back.
So, it will be the acquirer (almost certainly a bank) that is getting nervous. It is they, not the almost countless credit card issuers, as @Rothko said, that are requiring Charlton to put some transaction identifier on payments off credit (and debit?) cards that provides them with a means of identifying the purpose of the transaction.
There is no reason why a punter should see this on a statement and your card company couldn't care. Which is why @Addickted had to show proof to Barclaycard.
It's no surprise to me that Muir doesn't want a majority stake. If he had wanted one, I should imagine that there has been ample opportunity to do so. Especially when one considers the rumours about delays, due to investors withdrawing/being excluded etc etc and then needing to search for replacement investors.
When he sold just one of his businesses for £480m!
He's founder of Momatu a digital He's director of Essendon FC He's Founder and Director of The Good Foundation and Jamie's Ministry of Food (Australia) He's Co-Founder of Pet Care Super Centre
He was CEO, Executive Chairman and then the Chairman of the Good Guys before selling the brand on for £480m.
His education was pretty solid too: Harvard Business School Advanced Management Program La Trobe University Bachelor of Economics University of New England (AU) Postgraduate Diploma of Financial Management
When he sold just one of his businesses for £480m!
He's founder of Momatu a digital He's director of Essendon FC He's Founder and Director of The Good Foundation and Jamie's Ministry of Food (Australia) He's Co-Founder of Pet Care Super Centre
He was CEO, Executive Chairman and then the Chairman of the Good Guys before selling the brand on for £480m.
His education was pretty solid too: Harvard Business School Advanced Management Program La Trobe University Bachelor of Economics University of New England (AU) Postgraduate Diploma of Financial Management
It's no surprise to me that Muir doesn't want a majority stake. If he had wanted one, I should imagine that there has been ample opportunity to do so. Especially when one considers the rumours about delays, due to investors withdrawing/being excluded etc etc and then needing to search for replacement investors.
Can't say I blame him either, I have no idea why anyone would want to own a football club.
Setting fire to your money would make as much financial sense, it'd be a lot less stressful too!
Money's Too Tight To Mention - The Valentine Brothers (the original by the writers of the song )
and that warrants a flag?
I didn't flag you mate ? ............ or if I have I certainly didn't intend to, I've never flagged anyone (to my knowledge) If I have am I able to take it off ?
It was just a bit of fun on my part ending up with the Blackpool 72 comment
When he sold just one of his businesses for £480m!
He's founder of Momatu a digital He's director of Essendon FC He's Founder and Director of The Good Foundation and Jamie's Ministry of Food (Australia) He's Co-Founder of Pet Care Super Centre
He was CEO, Executive Chairman and then the Chairman of the Good Guys before selling the brand on for £480m.
His education was pretty solid too: Harvard Business School Advanced Management Program La Trobe University Bachelor of Economics University of New England (AU) Postgraduate Diploma of Financial Management
Money's Too Tight To Mention - The Valentine Brothers (the original by the writers of the song )
and that warrants a flag?
I didn't flag you mate ? ............ or if I have I certainly didn't intend to, I've never flagged anyone (to my knowledge) If I have am I able to take it off ?
It was just a bit of fun on my part ending up with the Blackpool 72 comment
Money's Too Tight To Mention - The Valentine Brothers (the original by the writers of the song )
and that warrants a flag?
I didn't flag you mate ? ............ or if I have I certainly didn't intend to, I've never flagged anyone (to my knowledge) If I have am I able to take it off ?
It was just a bit of fun on my part ending up with the Blackpool 72 comment
I know but JBlock did
I'm confused, what he flagged you for Money's too tight Simply Red ?
Interesting reading the pdf of the Certificate of Corporation attached that it says that they do not expect one person to have overall control ie 51% of the holdings. Confirms what we already believed.
Comments
And is desperate to please Henry.
My spend with the Club could be ST money, but it just might have easily be Club shop purchases, hospitality purchases or sponsorship.
If the Club has a separate accounting system for ticket office purchases, my credit card spend could well be on a dozen match tickets for the next home game rather than from a ST purchase. Or a 'Jackson 5' - would they drip feed that?
Sounds a load of old baloney to me.
But in a nutshell there will be a "payment service provider" who organises the transaction either through an in-shop terminal or on-line. And an "acquirer", which may or may not be the same as the payment service provider. The acquirer will have a contract with the merchant and effectively set up a line of credit.
The acquirer is responsible for receiving transaction details once they’ve been collected by the payment service provider.
It then passes them through the card scheme and to the issuer. The acquirer also receives the payment from the card issuer and pays it into the retailer’s bank account (less fees).
So, in the event that goods or services are not provided, that whole process would be unwound. You would claim off your card issuer who would, in turn claim off the acquirer, who would claim back off the retailer (if it was still trading). Risk flags start flying if 1% or more of transcations are reversed or charged back.
So, it will be the acquirer (almost certainly a bank) that is getting nervous. It is they, not the almost countless credit card issuers, as @Rothko said, that are requiring Charlton to put some transaction identifier on payments off credit (and debit?) cards that provides them with a means of identifying the purpose of the transaction.
There is no reason why a punter should see this on a statement and your card company couldn't care. Which is why @Addickted had to show proof to Barclaycard.
If he had wanted one, I should imagine that there has been ample opportunity to do so.
Especially when one considers the rumours about delays, due to investors withdrawing/being excluded etc etc and then needing to search for replacement investors.
He's founder of Momatu a digital
He's director of Essendon FC
He's Founder and Director of The Good Foundation and Jamie's Ministry of Food (Australia)
He's Co-Founder of Pet Care Super Centre
He was CEO, Executive Chairman and then the Chairman of the Good Guys before selling the brand on for £480m.
His education was pretty solid too:
Harvard Business School
Advanced Management Program
La Trobe University
Bachelor of Economics
University of New England (AU)
Postgraduate Diploma of Financial Management
Setting fire to your money would make as much financial sense, it'd be a lot less stressful too!
https://beta.companieshouse.gov.uk/company/11336951
Plus Muir?.How can they be called the Australian football consortium?.
It was just a bit of fun on my part ending up with the Blackpool 72 comment
That's a good fit to our playing style at times in recent years.