Billy bodger wrote:Going out of the league will not faze him, Worcester Warriors folded! If he continues to get interest on his loans why would he sell at a lower price to get rid of something making him money?
Relapsed_Shrimp wrote:Billy bodger wrote:Going out of the league will not faze him, Worcester Warriors folded! If he continues to get interest on his loans why would he sell at a lower price to get rid of something making him money?
That there sums up exactly the position we are in, all the chatter and long posts and this sums it perfectly. It's making Jason money. Why would he do anything other than take asking price - whatever that may be.
Billy bodger wrote:If he continues to get interest on his loans why would he sell at a lower price to get rid of something making him money?
Martin wrote:Morecambe Town here we come?
Keith wrote:Billy bodger wrote:If he continues to get interest on his loans why would he sell at a lower price to get rid of something making him money?
But, while that may be the case, [see my post above], surely if the club folds, then he loses most of the loan? As the owner, lending money to his own asset, if it goes under, then HMRC and banks are the first in line for any money that can be raised. It's a very high risk game for the return. Even if the loan was (say) £500,000 at 10%, it is [only] £50,000 per year. But if the club goes bust, he may only get £25,000 out of his £500,000 back? If he has the kind of money to risk that, then why pull the money out of the EFL sanctioned account, leading to embargo & point deduction, as well as £30,000 in fines for him, personally? If the alleged loan is more than £500,000 then the risks are even greater, and you'd think any logical person would be wanting to get out ASAP?
The club's assets are relatively minimal, as they [THANKFULLY!!!] can't get their hands on the land. Even if we go under and start again as a phoenix club in the North West Counties, J.B. Christie's foresight will keep us going, otherwise, we'd really be screwed.
Old Man Kensey wrote:
I've always fancied 'Morecambe Bay Pirates' myself.
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