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25 year season ticket anyone?

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Limerick Mariner
May 12, 2021, 6:57pm
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Quoted from moosey_club


£1m loss this season, must pay £4.1m loan back before April...that's £5m hole isnt it?


About 5 X 3-bed houses in Wimbledon isn't it? Gy equivalent would be £750k on that basis...

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KingstonMariner
May 12, 2021, 9:56pm
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Quoted from moosey_club


£1m loss this season, must pay £4.1m loan back before April...that's £5m hole isnt it?


No. They can get another loan to pay off the £4. The point is it’s cheaper to sell 500 25 year season tickets.

It’s a bit like your mortgage term coming to an end. You need to get a new mortgage but you don’t call that a ‘hole’.


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moosey_club
May 12, 2021, 10:22pm
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Quoted from KingstonMariner


No. They can get another loan to pay off the £4. The point is it’s cheaper to sell 500 25 year season tickets.

It’s a bit like your mortgage term coming to an end. You need to get a new mortgage but you don’t call that a ‘hole’.


But thats not how they are selling it is it ? They want to sell these tickets to become debt free.

However fair play to them in what they have acheived so far in the time they have been formed.


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KingstonMariner
May 12, 2021, 10:41pm
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Quoted from moosey_club


But thats not how they are selling it is it ? They want to sell these tickets to become debt free.

However fair play to them in what they have acheived so far in the time they have been formed.


Incorrect. They want to sell these tickets to reduce the cost of the bridging loan. To reduce the cost of interest. They still in effect will ‘owe’ £4m worth of services (on a reducing basis) to the supporters who buy them.


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aldi_01
May 13, 2021, 6:02am

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I think the idea is a good one and probably being sold to the fans with much more transparency than those sold at Bradford for example.

I’d imagine they’ll probably get all 500 shifted although I’d imagine they’re using some sort of finance scheme to fund the purchase? Even down there, not many folk have 10/20k stuffed in an account waiting to be spent on a hobby...


'the poor and the needy are selfish and greedy'...well done Mozza
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