Club Finances - new charge registered against club (Macquaire Bank Limited)

[st albans fox]

34 minutes ago, Ric Flair said:

I'd hazard a guess Barnes is paid in 4 instalments equalling the £45m transfer fee reported.

Not sure was that high 

thought it was £38m 

 

more likely to have been £15m initial plus two instalments ??

[Ric Flair]

1 hour ago, st albans fox said:

Not sure was that high 

thought it was £38m 

 

more likely to have been £15m initial plus two instalments ??

Aaah yes you're right, the £45m was possible add ons. £38m fixed.

[MPH]

On 01/11/2023 at 06:51, WoodyFox said:

Need some money for NP's bumper contract as new head of academy

 

Pearson could definitely have Maresca in a fight. Don’t be fooled by the crutches ; like Yoda  and his walking stick or the little Rat from The Teenage mutant Ninja turtles, he’ll cast them to one side and absolutely whoop your ass.

[Jaspa]

 

Quote

 

Quizzed over why Wilko collapsed, Ms Wilkinson pointed to a number of reasons including last year's mini budget which she claimed significantly increased the interest rate on a loan with Australia's Macquarie that Wilko was trying to secure.

"We were about to enter into secured lending arrangements with Macquarie when the 2022 mini-budget happened," she said.

"Literally we were in the midst of that, and at that point the interest terms on that loan were hiked massively and that became infeasible. So, that was a contributor."

 

https://www.bbc.co.uk/news/business-67552360

[Globalfox]

13 minutes ago, Jaspa said:

 

https://www.bbc.co.uk/news/business-67552360

But they were negotiating about a non collateral loan. Leicester are in effect factoring against agreed payments at a fixed interest rate. Totally different financial arrangements do not try and link apples and oranges. Plus Leicester and this bank have a long standing relationship of this type Wilkins was a cold customer high risk deal.

[Jaspa]

6 minutes ago, Globalfox said:

But they were negotiating about a non collateral loan. Leicester are in effect factoring against agreed payments at a fixed interest rate. Totally different financial arrangements do not try and link apples and oranges. Plus Leicester and this bank have a long standing relationship of this type Wilkins was a cold customer high risk deal.

Thanks for adding context. Merely noting that this is the same bank that we're dealing with who have been mentioned in Wilko's recent demise, who were* another historic institution of Leicester's City.

[Chocolate Teapot]

4 hours ago, Globalfox said:

But they were negotiating about a non collateral loan. Leicester are in effect factoring against agreed payments at a fixed interest rate. Totally different financial arrangements do not try and link apples and oranges. Plus Leicester and this bank have a long standing relationship of this type Wilkins was a cold customer high risk deal.

Hmm....you sure?

[Out Foxed]

damn wilko and thomas cook. century long institutions gone. 

[st albans fox]

1 hour ago, Chocolate Teapot said:

Hmm....you sure?

Can’t believe that the rate of interest isn’t related to the base rate (and therefore variable ) 

[Globalfox]

8 hours ago, st albans fox said:

Can’t believe that the rate of interest isn’t related to the base rate (and therefore variable ) 

Yes it’s a term drawdown for fixed period. Can be extended on different terms. That’s why the forum reacts each time a charge is lodged. If you work it out right now the interest charges are pretty stable. Now if they take new loans on land development that may be different. I suspect any expansion will be financed differently and is waiting for more favorable terms. Would not be surprised to see parts of the development to be taken on by partners and only stadium by the club.

[dynamark]

Funny my very first job was saturdays at Wilko narborough rd .One pound for 8 hours,

However there is nothing in a wilko that I cant do without nowadays and anyone with half a business brain can see that.Try to sell low value low volume goods out of expensive sites is a disaster 

[Chrysalis]

On 29/11/2023 at 07:42, Globalfox said:

Yes it’s a term drawdown for fixed period. Can be extended on different terms. That’s why the forum reacts each time a charge is lodged. If you work it out right now the interest charges are pretty stable. Now if they take new loans on land development that may be different. I suspect any expansion will be financed differently and is waiting for more favorable terms. Would not be surprised to see parts of the development to be taken on by partners and only stadium by the club.

The club could also avoid interest by our owners loaning interest free or just pushing in the cash as a gift, no FFP excuse on infrastructure.