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Swann writes off £11 million

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diehardmariner
April 23, 2021, 1:53pm
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Quoted from Fillipe Noche
No such thing as a free lunch.  


Apart from the ones you've taken over the last few years, eh Phil?
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Mrbump53
April 23, 2021, 2:31pm
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No debt written off but transfer of ownership of the ground to his own company (probably reverse of what happened in the first place). Now has options to kick them out if an offer for the land comes in, gets a new ground on other land he owns and he can then sell the SUFC current ground and the club do not get any benefit from the sale. The club itself will have few assets now and could be restrictive to raising finance in the future. Longer term does not benefit the club apart from he who owns the land it sits on. Also he will more than likely charge rent moving the club into relying on getting more income from gate receipts etc.
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scrumble
April 23, 2021, 5:49pm

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If I was a scunny fan I wouldn't be happy about this. The only real asset the club had is now in the hands of a private company who, presumably, is going to be charging them rent. Traditionally that never ends well


Byddwn ond yn canu pan fyddwn yn pysgota
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Meza
April 23, 2021, 7:05pm

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What happens if his company goes into administration?


[URL=https://imgur.com/VCxdH2Y][IMG]https://i.imgur.com/VCxdH2Ys.jpg[/IMG][/URL][URL=https://imgur.com/uMRVvRe][IMG]https://i.imgur.com/uMRVvRes.jpg[/IMG][/URL][URL=https://imgur.com/5p7nllT][IMG]https://i.imgur.com/5p7nllTs.jpg[/IMG][/URL][URL=https://imgur.com/46BEw5M][IMG]https://i.imgur.com/46BEw5Ms.jpg[/IMG][/URL][URL=https://imgur.com/06NXnQF][IMG]https://i.imgur.com/06NXnQFs.jpg[/IMG][/URL]

My Grimsby Legends
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rancido
April 23, 2021, 7:19pm

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Quoted from crusty ole pie
I ca see the situation in a few years time. big bust Swann locks glandford park due to unpaid rent Scunthorpe ask to play their home games at blundell park.


Didn't a similar thing happen with Rotherham when they played at Millmoor ? A fall out with the owner/chairman meant they had to play their home games at the Don Valley Stadium.


The Future is Black & White.
"The commonest thing on this planet is not water , as some people believe, but stupidity ". Frank Zappa
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