Accounts Filed With Company House Today.

The Barclays bridging loan in the accounts was at less than 3%. I thought bridging loans were usually at higher rates due to the short-term nature of them?

 

All depends on the quality of the collateral.

 

Also the £5m SMC write-off will have been the last remnant of the Bartlett regime. SMC revenue (probably Premier Club) was mortgaged but the due diligence process didn't show this up at the time the club/SMC was bought.

Pretty sure this is why Duffen is involved at the club to try and recoup some of this £5m from Bartlett. The money's been written off now but it won't stop AA trying to get some of it back.

 

Very interesting , does this mean we can actually be a sustainable club in the premier league and slowly reduce the debt ?

Our wages last season actually seem like a very reasonable % of turnover compared to other clubs figures that have been quoted

 

I've no idea what bank loan interest rates are like when you're talking about the size of figures that Allam has loaned HCAFC, but I suggest they'll be significantly different to any of the interest rates we see advertised for personal/business loans.

I don't think they'd beat 5% but they won't be far off I wouldn't have thought.

It also depends how Allam gets repaid that will determine how good value his loan has been for the club. So far it's been nearly 4 years.

 

Well more great news then. Hardly a shock mind with all the wonga involved.

Well done to one and all at the club.

 

on huge amounts like that you are looking at around 8/10%...if it is a football club you are looking at even higher figures as there are less options these days due to the risk

 

also depends on the time borrowed so could be 3% over a 3 month period for example