December 07, 2019, 12:41:28 AM

Author Topic: Kenwright to step down this month  (Read 7922 times)

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March 06, 2018, 03:30:20 PM
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Mick 1995

NSNO Subscriber
Think the Usmanov talk is wishful thinking. If this was the long term objective why would we be borrowing money from the council and struggling to get our bit for the stadium, doesnít make sense to me anyway.

Neither of those things about the stadium are anywhere near true.

We are neither "borrowing" from the council, nor do we have "our bit" to find?
Have you woke up in 2002 and think we're talking about the Kings Dock?

March 06, 2018, 07:42:00 PM
Reply #1

Mick 1995

NSNO Subscriber
You're jumping to massive conclusions there.

The phrase "without them as a guarantor we don't get the funds" is based on zero evidence. This is the best financial vehicle available to us. That is not the same as this being the only financial vehicle available to us.

The central pot the council draws from is interest free and they charge us £6/7m a year for them facilitating it.

So. We are not borrowing from the council. They have facilitated a central government loan.
Nowhere has it ever been suggested that we are struggling to find the additional funds needed.
« Last Edit: March 06, 2018, 07:55:25 PM by Mick 1995 »

March 06, 2018, 08:30:03 PM
Reply #2

Mick 1995

NSNO Subscriber
Well, for s start, i don't buy into Usmanov having anything to do with the club.

Secondly, even the richest people on the earth tend not to just have half a billion dollars on the hip, just sloshing around a current account.
It's all assets and leveraging.

Every last penny used to make this stadium will be through finance and not just some blokes piggy bank. The same as all stadiums built in this country as far as i'm aware.
The finance model we have chosen is the one with the least amount of interest.

Damn right the escalating costs of the most expensive thing this club has ever bought (or will ever buy) should be occupying our CEO's mind 24/7.
« Last Edit: March 06, 2018, 09:47:20 PM by Mick 1995 »

March 07, 2018, 02:18:18 AM
Reply #3

Mick 1995

NSNO Subscriber
Didn't Chelsea get there money interest free and then he just wrote it off as a bad debt!

We've just received £150m under a very similar looking deal.

But bricks and mortar is different.
Chelsea's egg slicer will be leveraged against the club.

March 15, 2018, 05:06:30 PM
Reply #4

Mick 1995

NSNO Subscriber
Google newsfeed has put up a story/expose from the sun saying we have taken 3 "payday style loans" since the £150m investment from Moshiri.
Not clicked on it to see what they're talking about, because, well, who would want the Sun in their browsers history?

But, if true, it's good that we have Kenwright around to sort this stuff. Seeing as how he has years of experience doing it for us.