Banana
23rd June 2002, 12:23
One thing I don't understand is how selling the ground helps us.
1. If we sell the ground we clear the existing debt.
2. The remainder of the proceeds from the sale of the ground will be 'ringfenced' as proceeds towards the new ground.
3. The debt continuing to mount because of the trading losses.
So:
a. What happens to new debt as it is created throught trading losses - is this offset against the ringfenced amount? If so the proceeds will be eroded away. If not then what?
b. Where are you expecting the shortfall between the purchase/construction costs of a new stadium and the sales of GP to come from?
c. Are you intending to leave the club once the sale of GP is completed as this will release your £3m that is securing the debt at the moment?
1. If we sell the ground we clear the existing debt.
2. The remainder of the proceeds from the sale of the ground will be 'ringfenced' as proceeds towards the new ground.
3. The debt continuing to mount because of the trading losses.
So:
a. What happens to new debt as it is created throught trading losses - is this offset against the ringfenced amount? If so the proceeds will be eroded away. If not then what?
b. Where are you expecting the shortfall between the purchase/construction costs of a new stadium and the sales of GP to come from?
c. Are you intending to leave the club once the sale of GP is completed as this will release your £3m that is securing the debt at the moment?