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Stockwood interview: debt to be cleared early

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MarinerDevil
August 2, 2022, 12:05pm
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Will put this is a new thread as I know people are interested in it.

Stockwood was on Humberside this morning talking about McAtee, possible incomings and the club's finances.

https://www.bbc.co.uk/sounds/play/p0cqkf3z

Summary:
  • Deal was done reluctantly.
  • Didn't want to stand in the way of McAtee's ambition.
  • Offered him an improved deal but it was clear he wasn't going to sign it.
  • Great outcome to get him back on loan.
  • "Took external counsel" on value of deal.
  • Fee is less than £500k but we are paid a portion up front. Add-ons are included as well as a "double digit percentage" sell-on.
  • Might have got a better fee from elsewhere but the loan-back was what sold it for us.
  • Working with Luton to manage McAtee's shoulder.
  • Keen to develop a relationship with Luton to potentially take some of their players on loan in the future.
  • "Historical debt will be cleared 18 months early" (so presumably, this year).
  • 1878 have invested "about half a million" into the club this summer.
  • Talking to clubs about bringing in more attacking players.
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headingly_mariner
August 2, 2022, 12:11pm

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Wipe that skid mark from our history. All the links cut.  
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marinerdazza
August 2, 2022, 12:11pm
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Can’t fault them. Impeccable.
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lukeo
August 2, 2022, 12:12pm
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I hope they put out a statement once it is done. They're so professional in the way they do everything I can imagine a cheeky little statement professionally written basically saying "He's gone"  
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WOZOFGRIMSBY
August 2, 2022, 12:31pm

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When’s this transparency ever got you an extra 3000 season tickets,  feel good factor and 3 points on a Saturday


Miss Scunthorpe

Not a beauty pageant just fu(king good advice
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Marinerdan
August 2, 2022, 12:36pm

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I thought it was really interesting that they cleared the debt early from their personal funds.

There aren’t many reasons to clear an interest free debt early. Total conjecture but the only things I can think of are pressure from the creditor, creditor offering reduced terms to settle early, free up debt servicing for future repayments or new investors wanting to invest in to a debt free club. I’m sure there are a few others but all seem positive.


UTM
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aldi_01
August 2, 2022, 12:39pm

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May be Fenty needed the money to pay HMRC the cash he owes them?


'the poor and the needy are selfish and greedy'...well done Mozza
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HertsGTFC
August 2, 2022, 1:02pm

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All good news, proper people doing things properly!!


"Crombie you would have got to that if you weren't such a fat ba%$@rd" - George Kerr, inspiration from the dug out 70s style  
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prestonmariner
August 2, 2022, 1:03pm
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I know this is said time and again, but we really are so lucky to have Jason, Andrew & Debbie involved in our club. Another great interview.

UTM


UTM
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Maringer
August 2, 2022, 1:07pm
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Quoted from headingly_mariner
Wipe that skid mark from our history.


That's a bit harsh. On skid marks.
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