Financing package wipes out Saints debt : Tue Oct 18, 2011 11:34 am  

Or at least converts it into bonds and stocks, according to my limited understanding http://www.saintsrlfc.com/news/page/1340 looks to me like Mike Coleman who owns the billion dollar Ailing Analytics has put his hand in his pocket, but in a financial rocket science kind of way.

Or at least converts it into bonds and stocks, according to my limited understanding http://www.saintsrlfc.com/news/page/1340 looks to me like Mike Coleman who owns the billion dollar Ailing Analytics has put his hand in his pocket, but in a financial rocket science kind of way.

Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 11:44 am  

Can somebody explain this financial info into laymans terms to understand?

Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 11:52 am  

Yeah, what does it mean? Are we quids in now? Or just oweing money to different people?

Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 11:56 am  

It basically means the club has raised £6m privately (I'm assuming existing shareholders), and has no bank debt.

£3m of this is convertible loan stock (usually pays a low interest rate [sometimes even no interest at all] with the holder having an option to convert the loan stock into shares to get an equity "upside") and £3m is a straight loan, albeit from a private individual.
The cash is to be used to pay the last instalment on the stadium lease and fit it out, plus a bit more for day to day working capital.

Basically, it's incredibly good news and means that we have not had to borrow money externally to fund the stadium, it has all come from "friendly" sources, most probably McManus and his cashed up chums.

McManus is a St Helens RLFC legend.

Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 11:58 am  

Sounds like this Coleman dude is the one to be sat near at the new ground. I'll bet he will shout the whole row a round when it's his turn.

Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 11:59 am  

Saddened! wrote:

Sounds like this Coleman dude is the one to be sat near at the new ground. I'll bet he will shout the whole row a round when it's his turn.

His seat will have armrests for sure.

Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 12:00 pm  

So if we sell James Roby to Wigan for £3million we will be debt free?

Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 12:02 pm  

Rommel wrote:

So if we sell James Roby to Wigan for £3million we will be debt free?

Our financing package sounds kinda like lending a tenner from your dad; he has a feeling he might not ever get it all back.

Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 12:07 pm  

So that's six million Saints owe "somebody" plus the inherent losses over the last few years or are they now included in that six million?

Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 12:13 pm  

Rogues Gallery wrote:

So that's six million Saints owe "somebody" plus the inherent losses over the last few years or are they now included in that six million?

Totally. I wish we didn't own the ground, rented off a football team and were managed by a gorilla.