oddball":3blwiray said:
philmeboots":3blwiray said:
Bermudian Green":3blwiray said:
oddball":3blwiray said:
Both Argyle and Bradford have huge fan bases for league division 1 and relegation for either or both teams would be disastrous, especially for Argyle who would still have to pay for the grandstand repayments on top of day to day expenses. Season ticket sales would plummet from the current 6000 and sponsors and so on would think twice before well sponsoring...also you would have one hell of a job selling 500 covers in corporate hospitality in league division 2 (corporate hospitality was projected to bring in an extra million pounds a season).....so relegation is not an option.
I thought that the grandstand redevelopment was being paid for via a very long term loan from Simon Hallett, as opposed to being paid for by gate receipts, and as such relegation would have little impact on paying off that loan?
I suppose that it all depends on the terms of the loan and how the repayment(s) have been structured. There may be a fixed payment agreement either monthly or annually. Or repayments calculated against annual profit. Or could the loan and interest be held in “trust” to be repayed at the time of sale of the club? So many ifs of buts but whichever way it is a debt to PAFC.
In former times chairmen and indeed directors would make interest free loans to the club, however the loan from Simon Hallett is at current market rates.The repayments would kick soon afterwards ....the only income is gate money...
Oddball, back in the day at Argyle a 100k interest free loan was commonplace for a director. The loss of 5k interest per year was nothing really when it got you the best seats in the house home and away, free travel on the team bus, free hospitality, rubbing shoulders with many celebrities etc etc.
Simon Hallett has lent millions which I believe is at a favourable rate of interest saving the club a good sum compared to a commercial loan. There is a difference between the former and latter scenarios.