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Mr Fenty

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rancido
August 31, 2019, 12:24pm

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Quoted from Madeleymariner
I assume so



Then if it has to be used is it classed as a loan or a gift?


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KingstonMariner
August 31, 2019, 1:16pm
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Quoted from rancido



Then if it has to be used is it classed as a loan or a gift?


It’s not clear from the accounts which. I’d speculate going by the past, that it’ll be a loan. Maybe someone would care to put our facts right.


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Posh Harry
August 31, 2019, 1:57pm
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The bank will ask for security for a loan or overdraft depending on the size of it so it could be a guarantee against either or both.

If the loan is paid off or the overdraft is removed then depending on the terms and conditions of the guarantee, it will will either die on the ending of the facility, or it could stay in place in case another facility was needed in the future. This does not guarantee you would get the facility in the future, but it makes it quicker and easier to get in place assuming it is still acceptable
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golfer
August 31, 2019, 2:48pm
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Bury supporters should have hired you Posh Harry-they would have been playing this week.
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rancido
September 1, 2019, 11:45am

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Quoted from Posh Harry
The bank will ask for security for a loan or overdraft depending on the size of it so it could be a guarantee against either or both.

If the loan is paid off or the overdraft is removed then depending on the terms and conditions of the guarantee, it will will either die on the ending of the facility, or it could stay in place in case another facility was needed in the future. This does not guarantee you would get the facility in the future, but it makes it quicker and easier to get in place assuming it is still acceptable



Does that mean that whoever " owns " the club would still have to have that guarantee in place? So if Shute became the new owner there would still be a guarantee in place and for the same amount?


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MuddyWaters
September 1, 2019, 7:28pm
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A stat that I certainly wasn’t aware of was that Scunthorpe have lost an average 50 grand a week for 5 years under the Swanns. Whatever Mr Fenty has done pales into insignificance in comparison.
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toontown
September 1, 2019, 7:33pm
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Has swan covered it with loans or gifts? If he has gifted it then not a problem, unless he walks away and they are left with contracts they can't afford. Scunny are listed in mail on Sunday as one of 5 club's that could be in big financial trouble apparently. Haha haha!
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golfer
September 1, 2019, 7:43pm
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£13000000 in 5years-we have been very lucky to have someone who when he does eventually go will not leave the club in financial shite street
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Posh Harry
September 1, 2019, 8:00pm
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Quoted from rancido



Does that mean that whoever " owns " the club would still have to have that guarantee in place? So if Shute became the new owner there would still be a guarantee in place and for the same amount?


No. I think it a personal guarantee therefore it cannot automatically pass to a new person whomever that may be. They can set up a new one but a personal guarantee cannot be passed from person to person.
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Gaffer58
September 1, 2019, 9:01pm
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Quoted from toontown
Has swan covered it with loans or gifts? If he has gifted it then not a problem, unless he walks away and they are left with contracts they can't afford. Scunny are listed in mail on Sunday as one of 5 club's that could be in big financial trouble apparently. Haha haha!


Swanns also using his Blackpool hotel to put money into scunny by the back door by sponsoring the ground with the name Sands View Hotel, when has anybody in Scunthorpe viewed anything but the steelworks.
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