Him? or the very large company that he runs?

He is not Towergate, he's just, essentially, the guy in charge.

Much much different conversation with the lenders in that sector of the market, than PC himself going to see lenders about football related debt.
Lending to a solvent, profitable company is not even slightly the same as lending to a loss making football club.

Also, you'll note this is 'fine tuning our banking arrangements' no mention of the terms of this fine tuning, the interest rates, or what effect it will have.

Could Cullum re-finance our debt? Yes he could, as could the current board probably.
Could he maybe get better terms? I wouldn;t bet on it but lets just say he could.
Even so, there is no way he, or anyone else, could get a loan to replace the current (essentially) mortgage on the Jarrold at a rate of interest comparable to the current one.

THerefore the club would have to be paying out more in interest payments each year.
Unless he funded the repayment from his own pocket, interest free A la MWJ/DS.

Again, this is not to say we don't need people like him, or him himself involved. Just not sure how his ?20m budget would actually make much difference to the clubs finances.
Which tells a story in itself.

Posted By: megson on October 6th 2008 at 16:22:33

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