Swann Should Do the Right Thing

[64]

“If he handed SUFC over for £1 let the club play at least one season until we had time to build elsewhere then I would offer nothing more than silence against his antics (certainly no sympathy)”
the price isn’t the problem,it’s the 90k a month black hole that is

[Cliff Byrne’s Right Peg]

Where is the money going ?

Crowds have held up reasonably well so how on earth do we lose 90k a month if we were meant to be sustainable going into this year.

Wasn’t all debt wiped off with the stadium transfer?

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Ferrite

[Anonymous]

How much a month is the interest on the loan / mortgage?

[64]

Cliff Byrne’s Right Peg wrote:

Where is the money going ?

Crowds have held up reasonably well so how on earth do we lose 90k a month if we were meant to be sustainable going into this year.

Wasn’t all debt wiped off with the stadium transfer?

We still owe the football league a sum, low crowds running an operation of several dozen empoyees isn’t cheap,much of the crowd is season ticket and a lot fo the season we were employing quite a rentamob from security comapanies,which wouldn’t be cheap

[Cliff Byrne’s Right Peg]

I didn’t think the EFL was payable yet?
Also If there is mortgage taken out on the ground wouldn’t Coolsilk be liable ?

The playing squad wage can’t be substantial and crowds are still averaging 3,000 which is roughly what we must have budgeted for. Something doesn’t seem to be adding up to why we are losing so much a month.

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Awaywego

[Anonymous]

Cliff Byrne’s Right Peg wrote:

I didn’t think the EFL was payable yet?

Also If there is mortgage taken out on the ground wouldn’t Coolsilk be liable ?

The playing squad wage can’t be substantial and crowds are still averaging 3,000 which is roughly what we must have budgeted for.

Something doesn’t seem to be adding up to why we are losing so much a month.

Coolsilk Property and Investment Ltd, the company that controls Scunthorpe United, takes out a mortgage loan secured on Glanford Park. pic.twitter.com/UVm4YMoG2n

— Kieran Maguire (@KieranMaguire) May 9, 2022

[64]

All the directors of the lender are from an accountancy firm not a bank and the lending firm has little or no online presence

[Awaywego]

Like CBRP said if the ground is still separated from the football club the mortgage repayments are nothing to do with the club. They are/were 2 different limited company’s.

[64]

The interest alone would explain why Swann can no longer fund us

[SST]

Anonymous wrote:

How much a month is the interest on the loan / mortgage?

Tens of thousands.

[mistertonmick]

So he also wants us to take the loan on when it is nothing to do with the new owners, if you bought a car etc on a loan I always thought if you exchanged the car you cleared the debt before the transaction not pass it on to someone else.

[64]

mistertonmick wrote:

So he also wants us to take the loan on when it is nothing to do with the new owners, if you bought a car etc on a loan I always thought if you exchanged the car you cleared the debt before the transaction not pass it on to someone else.

Nobody is saying that

[mistertonmick]

It’s all confusing,just wish it was sorted and get the football interested people running it

[Northumbiron]

Cliff Byrne’s Right Peg wrote:

Crowds have held up reasonably well so how on earth do we lose 90k a month if we were meant to be sustainable going into this year.

Who said we were sustainable?

Oh yes, just remembered!

2 users thanked author for this post.

MK Iron, Cliff Byrne's Right Peg

[Awaywego]

We should all be able to agree that a club with nigh on 3000 average gates should be easily sustainable in NL. Shouldn’t need Swanny to tell us that.

[Anonymous]

https://mobile.twitter.com/olivercturner

[Author]

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