December 10, 2018, 07:38:32 AM

Author Topic: Kenwright to step down this month  (Read 6229 times)

Offline Escla

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Re: Kenwright to step down this month
« on: March 06, 2018, 09:50:55 PM »
Its semantics though, we are borrowing money to help fund the stadium, we are paying interest back on this loan. The point I was making is if Usmanov is behind all this why would we need to borrow any money from anyone, he could easily afford to pay for it outright, or set up a loan himself, similar to what Moshiri has done where we pay him back over x amount of years. And surely paying back a 0% loan over 25 years is better than paying back circa 130 million to the council over the same period?

And I did jump to conclusions about us struggling to afford it but Elstone did say:

Robert Elstone, the club’s chief executive, confirmed the funding target “has escalated significantly and has occupied much of our efforts of the past 12 months. The premium for the waterfront site, an ambitious capacity that we will test with more rigour, a design we can all be proud of and the simple but painful impact of inflation, have all contributed to an increased overall cost and a funding target which continues to grow.”

Why would it have occupied their minds for the last 12 months if we had one of the richest blokes on planet earth pulling the strings? It wouldn't, we'd just get it done, but thats my opinion anyway.

Forget about Usmanov, even if the wealthiest man in the world were behind this stadium he wouldn’t pay cash as you suggest Usmanov were able to do, name who you like, Warren Buffet, Mark Zuckerberg, Amancio Ortega etc. They would raise the finance then let the company pay the interest.

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