Author Topic: The loan and the English Sports Council  (Read 1810 times)

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Blue_and_Gold

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The loan and the English Sports Council
« 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.
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gs50

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Re: The loan and the English Sports Council
« Reply #1 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.

Blue_and_Gold

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Re: The loan and the English Sports Council
« Reply #2 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:
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Mallard

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Re: The loan and the English Sports Council
« Reply #3 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 ?

gs50

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Re: The loan and the English Sports Council
« Reply #4 on: April 12, 2021, 06:48:41 PM »
Think you will find Mallard a floating charge covers current Assets not the lease.

Mallard

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Re: The loan and the English Sports Council
« Reply #5 on: April 12, 2021, 08:03:34 PM »
Pardon GS ?

gs50

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Re: The loan and the English Sports Council
« Reply #6 on: April 12, 2021, 08:16:37 PM »
Sorry was referring to comment made by BAnd G

Mallard

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Re: The loan and the English Sports Council
« Reply #7 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 ?

Non League

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Re: The loan and the English Sports Council
« Reply #8 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.

KES80

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Re: The loan and the English Sports Council
« Reply #9 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 !

Mallard

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Re: The loan and the English Sports Council
« Reply #10 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.

Blue_and_Gold

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Re: The loan and the English Sports Council
« Reply #11 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?
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pc627

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Re: The loan and the English Sports Council
« Reply #12 on: April 13, 2021, 11:30:32 AM »
Does this mean we can get our players back from furlough?

TonyM

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Re: The loan and the English Sports Council
« Reply #13 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?

gs50

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Re: The loan and the English Sports Council
« Reply #14 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.

 

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