EFL Loan

[Ironawe]

So the Chairman wipes the debts of SUFC by taking all of its assets (which are potentially worth more than the debt)

The club is debt free but has no tangible assets.

The chairman/club apply for a £1.7m EFl loan which severely hinders its ability in the transfer market. SUFC now have £1.7m of debts

We are one player away from being maxed out on the current embargo.

The ground looks like a bomb site

The squad is threadbare with no strikers/quality

The manager has not been given a fair chance but is still woefully short in the basics of football management

Anybody else feel concerned?

If we drop out of the league this year that will be it for SUFC – this is the most important season in our history.

[lesgeo]

I agree with almost every point made.

1 user thanked author for this post.

bartonscorpion

[anoldiron]

It seems this loan has done more harm than good and is likely to be a contributary factor to any failings this season.
Perhaps clubs who didn’t take it read the small print!

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Peter Promise, alcazar

[Ferrite]

I’m confused, I thought I heard someone say it was a really good deal?

[Ironawe]

I’ve heard we’re getting new flags however they will first be used as industrial sized dusters to clean the pigeon shit and general filth from the stadium seating.

The foot long hot dogs being used to clean drains in what is left of the Chariman’s piggy bank

[cassidystash]

anoldiron wrote:

It seems this loan has done more harm than good and is likely to be a contributary factor to any failings this season.
Perhaps clubs who didn’t take it read the small print!

It could well be cited as the main reason for this seasons failure, we can’t continue to use Covid can we?

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bartonscorpion

[Awaywego]

So you think that tin hut and the land it stands on is worth 11million, pull the other one, and would appear that covid HAS effected our club more than most other clubs with us having to take a EFL covid support loan, it would have been far better to have refused to play on like Dover did. Why would it be “IT”for Scunny if we were relegated? It hasn’t been to other clubs are we special? I thought last season was the most important season in our history? Of course it’s concerning we haven’t started the way we would all wanted (well most) but it’s only one lge game and a loss in the cup we always do so well in, do we need a striker and a goalie of course we do, let’s at least wait and see after BS’s 8 games before we throw the towel in.

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B.gray

[SUFC_IRON_ART]

It would cost a minimum of 15 million as a very conservative estimation for the club to replace the Glanford Park stadium/site elsewhere which is what the true value of it was to the football club.

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alcazar

[Awaywego]

You could spend 100 million on a ground, but on completion it is only worth the value of the land, which in our case can’t be very much at all.

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anoldiron

[Cliff Byrne’s Right Peg]

It’s not much what the land is worth now but more so what it’s worth post Lincolnshire Lakes.

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bartonscorpion

[Ironawe]

So if you buy £1m house on land worth £200k you only have a £200k asset? Thankfully I have a better accountant…..

you mentioned COVID affected us more than others but then go on to say why are we a special case so you’ve sorted that one out yourself.

Last season was the most important, skirting with relegation all season, following the same logic then this would then surpass last season as being the most important one if we don’t get things right. It sometimes works out like that….

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SUFC_IRON_ART

[mistertonmick]

where does the figure £1.7 million come from, I haven’t seen anywhere were the club have mentioned the amount, I am not disputing it is wrong but never seen the amount mentioned anywhere officially.

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alcazar

[Awaywego]

The total monitored grant(loan) for div 1 and 2 was 20 million doubt whether we took nearly 10% of it.

[mistertonmick]

and league 1 would get a bigger share than 2 I expect.

[Awaywego]

You don’t need an accountant for buying a house Ironawe, but you need common sense to understand that building a football ground on a piece of land adds no value to it, never heard anyone just in the market to buy a football ground, just ask the owner of Millmoor he’s been stuck with the ground and no team to play in it since 2008. Ps I asked were we special but not about covid it was about relegation.Are you going to tell us were you got your info on this supposedly 1.7 million loan.

[Ironawe]

If you build a £25m stadium you have an asset of value whether you like it or not. It is not dependent upon who the purchaser maybe and whether they want the stadium. If the stadium is worthless why not gift it to the fans or the community with a covenant? Why transfer a supposedly worthless asset? Under Wharton – many years ago it was valued at several £m.

The £1.7m figure came from social media in the public domain, will happily retract the figure when the club confirms the size of the loan. Clearly if the loan is much lower Peter can soon clear it and we can come out of the transfer embargo.

[Lord Kitchener]

We all made the choice to support our local (ex) team. Most of us did this during our very long tenure in what was Division 4, having to be re-elected on more than one time when we finished bottom. Other than a short time n the early 70’s (before my time), and an even shorter time in the early 80’s under John Duncan, we have never had a better couple of decades than the last.

One thing I am sure of, is that The Iron will continue in this downward spiral without the support of its fans.

UTBI

[Awaywego]

The last financial statement valued the ground at £5.2 million, and am sure if swanny walks away he would gift us the stadium, he will only want the land it stands on.

[Awaywego]

How much was the debt Ironawe?.

[Ironawe]

The debt the club amassed? I assume its £11m, this was the figure given by some.

[bartonscorpion]

Just to remind you Awaywego, under who’s leadership was this so called £11M debt accrued, and who was in charge of the wasting of a lot of this debt, like court and legal fees etc, and paying players £4,000 per week, and having a squad of about 32 professional players, and at the end of the day, our crouds never averaged above 5,000 fans. But the dross our fans have been presented with over the past three seasons, this figure is about 3,000.

Lord Kitchener—-I t was probably before your time as a Scunny supporter, but in my opinion our best days were when we were riding at the top of League 1 in the 60s, that being the present day Championship, we would have got promotd to the top leagueif we had not sold Barry Thomas to Newcastle with about six or eight remaining games. Those were when our gates were often 13,000 to 17,000 games at some home matches, and the football was very entertaining those days, playing a 2-3-5 formation, not this bloody rubbish 3-1-4-1-1 shite like we are entertained with. And we did not have to reapply for re-election many times, in fact I can only remember one occasion. AND WE OWNED OUR OWN GROUND IN THE CENTRE OF TOWN.

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alcazar, anoldiron, Lord Kitchener, mistertonmick, inspector

[Awaywego]

And what a good ground it was BS, puts the sands siro to shame, more modern as well with the first cantilever stand in the world, no restricted views in that east stand, toilets were better as well, piss against the wall trough at the bottom, no flooding from leaking pipes, can’t remember did we have any catering?, Staffy had a program stall at back of fox street, the fan experience went when we moved,lost all the proper pubs and eateries, all we have now is one plastic pub if you can call it that and all the plastic food outlets, who the bloody hell moved us down there, was it Swanny?.

[mistertonmick]

Bernard Webster ran the Programme Shop.

[Awaywego]

I bow to your superior knowledge Mick,wasn’t Staffy on it at all?.

[Sanfran49]

The ’60s thing was also affected by the Bribery Scandal that hit football.

Different ends for our traitors – jail, some moved on couldn’t prove guilt but analysis showed problems. And gradually we declined. Now !! say no more.

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alcazar

[Northumbiron]

Awaywego wrote:

can’t remember did we have any catering?,

Hot Vimto and a Mars Bar for me!

I started going during those heady Div 2 days and I remember our fall through the leagues to Div 4 was as disappointing as our recent demise.

What stopped us going out of the FL was the voting system which saved our bacon. That and the 1969-72 squad – you all know their names. Who were Iron heroes to a man.

Oh for a team with their attitude now. Perhaps even a Ron Ashman!

[Ironawe]

I think the move to GP was out of necessity. Birse did it as a loss leader to try and capture the out of town purpose built stadia which came about around the time of Hillsboro.

I haven’t met one iron fan who wouldn’t swap it for OSG. It was a fantastic place to watch football. Every one of my mates who doesn’t support Scunny has a story about the OSG. I reckon 80-90% of the town went at some point in their lives to OSG

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alcazar

[Awaywego]

It was out of necessity after the Bradford fire, and yet Blundell park still exists, the stand next to the river still has loads of wood in it. Another great ground long may they stay there,just a shame it is all seated.

[mistertonmick]

Awaywego wrote:

I bow to your superior knowledge Mick,wasn’t Staffy on it at all?.

not to my knowledge, I didn’t know John Staff until after we moved to Glanford Park, though I did sit in the Cantilever Stand for a couple of seasons before we moved, whether he did then I don’t know.

[Sanfran49]

Ironawe wrote:

I think the move to GP was out of necessity. Birse did it as a loss leader to try and capture the out of town purpose built stadia which came about around the time of Hillsboro.

I haven’t met one iron fan who wouldn’t swap it for OSG. It was a fantastic place to watch football. Every one of my mates who doesn’t support Scunny has a story about the OSG. I reckon 80-90% of the town went at some point in their lives to OSG

Became a bigger loss leader than I think you realise. When measuring to establish the pitch walls they read the plans as yards. It should have been metres therefore so much longer and wider. But it wasn’t spotted and they had built the walls and the steps (standing or seating) had been poured. When spotted it was way too late to change – cost them dear.

[Author]

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