Council Loan

[rayzer]

I don't know how true it is but I have been told that the club have asked for another holiday on the repayments and they have asked them for a further loan of a £1,000,000.00.

 

If true, the end is nigh.

[NellyTheValiant]

Please to God no, only rumour but tock, tick?

[Twitters]

Christ. If true we are well and truly ****ed. Why don't they do the decent thing and ****ing sell up?

 

Morons! I take it this is Bill's trump card? To increase the debt to nearly £5m?! There is no chance the council will say yes.

[melv]

I don't know how true it is but I have been told that the club have asked for another holiday on the repayments and they have asked them for a further loan of a £1,000,000.00.

 

If true, the end is nigh.

 

More debt for the club.

With a new consortium with plenty of money willing to invest.

 

Is money running short,is panic starting to set in?

 

I doubt very very much that there would be another loan due to the way the economic climate is,and all the cut back's.

[Utch]

Mind you, I have also heard the club have paid back the loan in full and the club is now debt free.

 

If true, let the good times commence.

[Jimmy]

My God Rayzer i hope not when there is a bona fide bid on the table........Desperation or what.

 

If granted this would anger the tax payers in Stoke-on-Trent plus it would show bias against the Mo/Sims offer.

[the old bycars tea bar]

if true ray as you say, they must be in "dire straights", i wouldn't put it past this local council sanction this though i think they may be "brothers in arms"

 

joking aside though i feel aswell, the end is nigh

[Twitters]

Mind you, I have also heard the club have paid back the loan in full and the club is now debt free.

 

If true, let the good times commence.

 

Put your fishing rod away Utch! :D

[Tumbleweed_MVF]

i predict a riot

[Trentham Lakes Valiant]

I don't know how true it is but I have been told that the club have asked for another holiday on the repayments and they have asked them for a further loan of a £1,000,000.00.

 

If true, the end is nigh.

 

Nothing will happen before the Local Council Elections as any announcement would cause a public outcry and be prejudicial to the results. I will ask my next door neighbour what she knows or can find out.

[NellyTheValiant]

Mind you, I have also heard the club have paid back the loan in full and the club is now debt free.

 

If true, let the good times commence.

 

Only a rumour but that's great news, with the slate clean, we'll be even better off when MC and MS take over.

[Jinkin John Jeffers]

I can see them trying this and getting away with it!!

 

At the EGM I think this will tip any pro board shareholder to jump ship.

 

Nobody in there right mind could support this.

 

V2001 are doing all they can to kill our club.

[Jacko51]

Very interesting if true, rayzer. I wonder if it would be on the same terms as the existing Council Loan:

 

1. No dividends can be paid until the loan is paid in full - currently June 2026.

 

2. No money already paid back on the loan can be re-borrowed so any cash from the Council would have to be in the form of a new loan rather than an extension of the existing one.

 

3. If there is any change of control at the club then the full loan is repayable within 60 days. I would be interested to know if this is standard practice in such cases or, if not, which side of the agreement inserted this clause because it certainly puts a huge obstacle in the way of anyone wishing to invest a significant amount in the club.

[melv]

I can see them trying this and getting away with it!!

 

At the EGM I think this will tip any pro board shareholder to jump ship.

 

Nobody in there right mind could support this.

 

V2001 are doing all they can to kill our club.

 

I can't see that the council would sanction another loan or repayment holiday.

[Jinkin John Jeffers]

I can't see that the council would sanction another loan or repayment holiday.

 

Melv, I just get a sneeky suspicion our local politicians will have a say in this and get it through.

 

Or it may just be me be paranoid