I have just read on the beeb football site that it is possible, and even probable, that the debt they have to their local Council will be wiped clean from the slate. That is £10.5m.
Being somebody who once worked for a Local Authority I can scarcely believe what I've just read. This is public money we are talking about not the small change of some rich benefactor. The deal apparently is in exchange for some land the Council can develope.
I cannot understand how a Local Authority can hand over all that money in one go without seemingly knowing where it has gone once they have. They have a duty to the Citizens of Northampton to be very careful with the publics cash to avoid crap like this taking place. I understand it was a loan for development of the ground but there appears to have been no scrutiny of the project even being started and no checks on the money at any stage. What they should have done is release the cash in simple stages whilst the regeneration was happening and could be seen to be happening. It seems on outward appearances to be incompetent at the very least.
If I were a resident of that City I would be looking at this very closely and asking if any shenannigans had taken place. If it had I would want the people who gave out the loan to pay it back out of their own pockets if they can't find it. As it is it seems so wrong that a Local Authority can "bail out" a football club who gets away with financial naughties without any punishment at all.
Being somebody who once worked for a Local Authority I can scarcely believe what I've just read. This is public money we are talking about not the small change of some rich benefactor. The deal apparently is in exchange for some land the Council can develope.
I cannot understand how a Local Authority can hand over all that money in one go without seemingly knowing where it has gone once they have. They have a duty to the Citizens of Northampton to be very careful with the publics cash to avoid crap like this taking place. I understand it was a loan for development of the ground but there appears to have been no scrutiny of the project even being started and no checks on the money at any stage. What they should have done is release the cash in simple stages whilst the regeneration was happening and could be seen to be happening. It seems on outward appearances to be incompetent at the very least.
If I were a resident of that City I would be looking at this very closely and asking if any shenannigans had taken place. If it had I would want the people who gave out the loan to pay it back out of their own pockets if they can't find it. As it is it seems so wrong that a Local Authority can "bail out" a football club who gets away with financial naughties without any punishment at all.