Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 12:15 pm  

Saddened! wrote:

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

Classic

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

The Wigan lot won't like this one bit! "cashed up Mega club St.Helens" has a certain ring to it!

Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 12:19 pm  

Is anyone prepared to answer the question I asked? If the six million wipes out all existing debt (or should I say consolidates it) then it appears to be a very good deal, otherwise it's just borrowing more money (albeit on very good terms)

Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 12:21 pm  

Rogues Gallery wrote:

Is anyone prepared to answer the question I asked? If the six million wipes out all existing debt (or should I say consolidates it) then it appears to be a very good deal, otherwise it's just borrowing more money (albeit on very good terms)

Does anyone know the answer to your question? Probably Mr McManus and the people involved - I couldn't see the answer in the same statement that you read

Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 12:26 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?

Why would losses from the last few years not be included in the current position? That makes no sense at all.

It's a £3m loan we owe "somebody" (i.e. McManus and his rich Saints supporting pals), plus another £3m that can be converted into shares.

We have a shiny new stadium all fitted out and no bank debt. The stadium has been financed by the Board and their private contacts.

Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 12:27 pm  

Rogues Gallery wrote:

Is anyone prepared to answer the question I asked? If the six million wipes out all existing debt (or should I say consolidates it) then it appears to be a very good deal, otherwise it's just borrowing more money (albeit on very good terms)

The statement explicitly states we have no bank debt, and that more directors loans have been converted to shares. What is your question?

Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 12:31 pm  

FearTheVee wrote:

McManus is a St Helens RLFC legend.

Damn right. And his cashed up chums aren't so far behind either! They certainly deserve cupholders with their padded seats in the new stadium.

Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 12:39 pm  

Does this mean I can't sing 'Sack the board' when Lance Hohaia knocks on and costs us another game next season?

Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 12:44 pm  

Saddened! wrote:

Does this mean I can't sing 'Sack the board' when Lance Hohaia knocks on and costs us another game next season?

I think you might find yourself trundled out of the stadium if you so much as try!

Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 12:48 pm  

Where would we be without our present set of directors?
Have a close look at Bradford and the downward spiral they've been In,
a few years ago there wasn't a ciggy paper between us. Macmanus and co have sorted out a brand new state of the art stadium(that's ours!!!!!) whilst keeping us extremely competitive on the pitch.
I for one am extremely grateful to Eamon and his board were really lucky to have em.