Linnets' Fans' Forum

General Category => General Discussion => Topic started by: Blue_and_Gold on April 12, 2021, 02:41:17 PM

Title: The loan and the English Sports Council
Post by: Blue_and_Gold on April 12, 2021, 02:41:17 PM
The English Sports Council have placed a floating Charge on Lynn FC Ltd.

I assume that means the much talked about loan is now all in place.
Title: Re: The loan and the English Sports Council
Post by: gs50 on April 12, 2021, 02:51:19 PM
How much valuation have they placed on the burger van can't believe anything else of value.
Title: Re: The loan and the English Sports Council
Post by: Blue_and_Gold on April 12, 2021, 03:23:02 PM
How much valuation have they placed on the burger van can't believe anything else of value.
I would guess the lease has got to be high on the list when naming any high value assets. That's if its included, which I would assume it is.  :dontknow:
Title: Re: The loan and the English Sports Council
Post by: Mallard on April 12, 2021, 04:04:09 PM
Has SC said yet how much the club has borrowed to get us to the end of the season?  Or when the repayments kick in ?
Title: Re: The loan and the English Sports Council
Post by: gs50 on April 12, 2021, 06:48:41 PM
Think you will find Mallard a floating charge covers current Assets not the lease.
Title: Re: The loan and the English Sports Council
Post by: Mallard on April 12, 2021, 08:03:34 PM
Pardon GS ?
Title: Re: The loan and the English Sports Council
Post by: gs50 on April 12, 2021, 08:16:37 PM
Sorry was referring to comment made by BAnd G
Title: Re: The loan and the English Sports Council
Post by: Mallard on April 12, 2021, 08:56:21 PM
As a matter of interest is the lease shown in the accounts as an asset with a value ?
Title: Re: The loan and the English Sports Council
Post by: Non League on April 13, 2021, 09:19:27 AM
Has SC said yet how much the club has borrowed to get us to the end of the season?  Or when the repayments kick in ?

Hearing through the grapevine, it was £400k. 1% interest.
Title: Re: The loan and the English Sports Council
Post by: KES80 on April 13, 2021, 10:03:18 AM
Goodness, that's hefty. What's the term I wonder......if it's 20 years that would be £24 k a year at first......so Kiaro's fee would just cover that and little else !
Title: Re: The loan and the English Sports Council
Post by: Mallard on April 13, 2021, 10:14:27 AM
If thatís true and the Club needs 400k to get to the end of the season, then has anyone any idea what that will be spent on, or are there built up debts that need paying.

400k is one hellva of a commitment for a company that has lost money year on year under the current set up, and has been propped up by the generosity of one person.

Maybe SC has a clear path forward on how the club can be self sustainable plus finding the cash to pay back 400k plus interest.
Title: Re: The loan and the English Sports Council
Post by: Blue_and_Gold on April 13, 2021, 10:27:43 AM
Goodness, that's hefty. What's the term I wonder......if it's 20 years that would be £24 k a year at first......so Kiaro's fee would just cover that and little else !

Does it come with no payments required in first 12 months, as the Govt loans to Companies does?
Title: Re: The loan and the English Sports Council
Post by: pc627 on April 13, 2021, 11:30:32 AM
Does this mean we can get our players back from furlough?
Title: Re: The loan and the English Sports Council
Post by: TonyM on April 13, 2021, 01:15:14 PM
Does this mean we can get our players back from furlough?

If the reports are true and we need £400K to get to the start of next season (assuming we can then have a viable number of fans back in the Walks) then why on earth would the club consider bringing players back on furlough for what, to us at least, are nothing more than training games?
Title: Re: The loan and the English Sports Council
Post by: gs50 on April 13, 2021, 01:26:33 PM
Think we should carryon as we are trying out players for next season and hopefully have surplus funds for next season.
Title: Re: The loan and the English Sports Council
Post by: KES80 on April 13, 2021, 03:04:31 PM
Well you would hope that there is a detailed plan of how the club is going to compete at this level and manage that loan..........

I don't doubt that IC will work miracles with the tools at his disposal, but will that be enough ?

Does anyone have any info on how Harrogate are funded ? I ask because they seem to be an unfashionable club with limited past history who have found a way to compete successfully.

Title: Re: The loan and the English Sports Council
Post by: Non League on April 13, 2021, 03:14:10 PM

Does anyone have any info on how Harrogate are funded ? I ask because they seem to be an unfashionable club with limited past history who have found a way to compete successfully.

Rich owner.

They did also have a 4G pitch, which was used 7 days a week all year round though, so whilst owner backed the club financially there was good income streams too.
Title: Re: The loan and the English Sports Council
Post by: KES80 on April 13, 2021, 04:22:42 PM
Thanks N L.
Title: Re: The loan and the English Sports Council
Post by: gs50 on April 13, 2021, 04:49:26 PM
Think Simon Weavers dad bankroll them.
Title: Re: The loan and the English Sports Council
Post by: Mallard on April 13, 2021, 05:42:46 PM
Does Harrogate Town actually own the Freehold to that prime piece of land on the Wetherby Road ?  Got to be worth millions.   
Title: Re: The loan and the English Sports Council
Post by: WalksFC on April 13, 2021, 05:58:00 PM
I understand that Sport England are handing out finance that will sustain clubs for the coming seasons not just this one. Anyone who thinks this all goes away in May are .........
Title: Re: The loan and the English Sports Council
Post by: dillydilly on April 13, 2021, 07:00:03 PM
Quite a gamble, but the crowds next year could be extremely good.
Title: Re: The loan and the English Sports Council
Post by: poshlinnet on April 13, 2021, 10:12:32 PM

If the reports are true and we need £400K to get to the start of next season (assuming we can then have a viable number of fans back in the Walks) then why on earth would the club consider bringing players back on furlough for what, to us at least, are nothing more than training games?

I thought that SC mentioned in one of his podcasts that Sport England asked him to apply for £500k but he said that was far too much, ( I believe he mentioned £300k?) I got the impression that if the club took the loan we would have the furloughed players back as there would be the money to pay them. Maybe another decision has been made to use this as an extended pre-season? I hope that if this is the case then then we get any new players on contract before they are poached, I also hope itís an idea from IC and team and not forced on them.
Title: Re: The loan and the English Sports Council
Post by: Non League on April 14, 2021, 09:24:56 AM
I would like to see Lynn next season utilise P'Boro with them being close. Got a real good young crop of players coming through, and if they end up going up this season, and potentially establish in Championship, it's a strong club to have good connections with for the long term.

Potentially a good time for football in the area with P'Boro, Cambridge and Norwich all doing well, and King's Lynn can add their name to it hopefully by being a well liked club at this level for the football they try to play.
Title: Re: The loan and the English Sports Council
Post by: Coastal linnet on April 15, 2021, 07:39:43 PM
Wrexham have received a grant of £100,000 from the Welsh Government to compensate for loss revenue from.no spectators during pandemic !!
Title: Re: The loan and the English Sports Council
Post by: gs50 on April 15, 2021, 08:04:26 PM
is that two grants or the same Grant that all other  clubs received.
Title: Re: The loan and the English Sports Council
Post by: Blue_and_Gold on April 15, 2021, 08:40:15 PM
Wrexham have received a grant of £100,000 from the Welsh Government to compensate for loss revenue from.no spectators during pandemic !!


I'm sure I read somewhere that they had not received the same  grants that the English clubs had.

 :dontknow:
Title: Re: The loan and the English Sports Council
Post by: Mallard on April 15, 2021, 09:41:32 PM
The clue is in the name.  Sport England so no grants/loans would be available outside of England
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