Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 4:19 pm  

Saint Simon wrote:

Look at it from his point of view though. If you have £100 million would you not throw £6 mil at the club you've always supported?
£6 million to him is like £600 to most of us

That was the point I made, if he is that rich then it isn't a problem to him. The more people we can get to invest in the game the better, but the terms need to be right.

One of the problems that occurred at Wigan was that at least one of the directors decided to "call in" his loan.

Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 4:26 pm  

Rogues Gallery wrote:

That was the point I made, if he is that rich then it isn't a problem to him. The more people we can get to invest in the game the better, but the terms need to be right.

One of the problems that occurred at Wigan was that at least one of the directors decided to "call in" his loan.

Depends on the terms of the loan. I very much doubt that Mac, with his undoubted business acumen, would agree to a clause to allow the loans to be 'called in' to the financial detriment of the club.

It's certainly favourable to being indebted to a faceless plc.

It's wholly good news, we've a lot to be extremely happy with as Saints fans - how many other clubs could go through such a significant transition in terms of playing staff (losing iconic players like Long, Martyn, Scully, Joynt, Newlove, Cunningham et al), securing our very own state of the art stadium and remaining a top force throughout it all.

Sir Eammon McManus, we salute you.

Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 4:39 pm  

Great news.......................

Roll on February

Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 4:43 pm  

The more you look at this deal the better it is. Shareholders have obviously looked at the profitablility of Saints going forward and decided they can get a good enough return through profit to relinquish the interest on any loan.

As for the bond and private debt scheme no one will know the terms of this other than the parties involvedcould be a loan at zero percent repayable over two hundred years could be at wonga.com rates. Either way I think the rater will be lower than what a bank could offer or they woulfd have just got it from a bank secured against the stadium.

Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 4:47 pm  

Being totally honest if i ever won a considerable amount of money or was a self made millionaire, being a Saints fan i would donate a fair chunk of it to the club and expect nothing in return.....maybe a box or complimentary half time pie. Does anyone think this is the case with the shareholders?.....(The money side of it rather than the pie bit)

Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 4:51 pm  

Just been reading up on Mr Coleman,like Mr McManus was born in StHelens and they both have more far eastern links than Jills chippy.One interview was titled 'The billion dollar interview',nice

Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 4:53 pm  

Its entirely possible that it could be the case. But the whole point of the new stadium is to turn some kind of profit.

Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 5:18 pm  

St Helens and Warrington have to be congratulated that they do own their own stadium and credit to St Helens that it is the better stadium, at first I had doubts about the 18.000 size, I felt 20,000 would have been better, but on reflection on the past few seasons it is better to have a stadium that is running to close capacity at the majority of games than such as The Giants in such a large football stadium looking more than half empty all the time.

Interesting over Mr Coleman, good on him, but when people are protesting outside St Paul's in London about the way money is made in financial circles we all soon are willing to close our eyes when we benefit.

Our owner in London has made his money in the oil markets, not a favourite industry with costs of petrol we pay, but the personal money he has pumped in is amazing and it even more next season. Currently we are looking at a 15,000 new stadium which is perhaps like Salford but like Warrington can be developed and extended as needed/

If I was a Wigan supporter I would be very disappointed now such a leading club and not owning their own stadium, many in London like being at The Stoop, but sadly the marriage has not worked and the sooner we leave the better and one day join St Helens and Warrington as stadium owners.

Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 5:20 pm  

This is great news it basically gives the club a datum to become a profitable club from now onwards.
The two significant items in the statement! Is that we have No bank debt and No directors loans meaning no significant liabilities as we start the new season in the new ground.
The new business model must be very attractive to sponsors, lets hope the fans turn up in excess of 12000 to back up our directors financial commitments.

Re: Financing package wipes out Saints debt : Tue Oct 18, 2011 6:25 pm  

Rogues Gallery wrote:

The more I think about it the more I can see that's it's a nice way of telling Saints fans that they had to borrow another £6 million to complete the stadium.

Very clever.

How did the Wigan Chairman tell the fans he had just paid back £2 million to DW (I think it was). How does that £2 million show up on Wigans finances.