Jump to content

The £6.4m loan secured against Hillsborough


Recommended Posts

Just now, Inspector Lestrade said:

 

Is that good or bad news?

 

Who knows!

 

I wouldn't say it is good news if, as reported, the payment that was due has simply been kicked down the road for 12 months with 200K added, although a 3% interest/charge for failing to pay a £6.4M payment seems pretty reasonable in the general sense of lending! 

Link to comment
Share on other sites

The rollover is either because Chansiri cannot repay the loan in full so has refinanced it, or he sees it as cheaper to just keep paying an interest charge (the 200k). 

 

If its the former we should be concerned about his ability to keep on paying the wages. 

Link to comment
Share on other sites

41 minutes ago, hirstyboywonder said:

 

Sheffield 3 Ltd own the ground, Sheffield 3 is owned by Chansiri, the charge is between Avenue Projects & Sheffield 3 Ltd.

 

Here's the trust view on the matter from around the time news of the deal broke:

 

https://www.swfctrust.co.uk/blog/hillsborough-stadium-ownership


Good read that to be fair,   I hold my hands up to the fact I ain’t financially switched on and do not understand the most of this carry on though 

 

What was this £6.4m used for ? To secure the ground for Sheffield 3 (Chansiri)  ?       I still also don’t really understand all the flapping about having lost the ground when all that’s really happened is it’s transferred to a company owned by the same man who outright owns the club ?  How has the club lost the ground ?  What’s DC gonna do ? Lock himself out 

  • Like 1
Link to comment
Share on other sites

Just now, Royal_D said:


Good read that to be fair,   I hold my hands up to the fact I ain’t financially switched on and do not understand the most of this carry on though 

 

What was this £6.4m used for ? To secure the ground for Sheffield 3 (Chansiri)  ?       I still also don’t really understand all the flapping about having lost the ground when all that’s really happened is it’s transferred to a company owned by the same man who outright owns the club ?  How has the club lost the ground ?  What’s DC gonna do ? Lock himself out 

 

Technically Chansiri does not now have the deeds to Hillsbro. They are held as security on this loan. 

  • Like 1
Link to comment
Share on other sites

3 minutes ago, Royal_D said:


Good read that to be fair,   I hold my hands up to the fact I ain’t financially switched on and do not understand the most of this carry on though 

 

What was this £6.4m used for ? To secure the ground for Sheffield 3 (Chansiri)  ?       I still also don’t really understand all the flapping about having lost the ground when all that’s really happened is it’s transferred to a company owned by the same man who outright owns the club ?  How has the club lost the ground ?  What’s DC gonna do ? Lock himself out 

The the ownership of Hillsborough passes to the lender if DC fails to make payment.

 

The lender is a third party. Not DC.

 

And it's 6.4 million per year, for a number of years. I think, it's not just a one off.

 

Ergo, he dosn't pay, we lose the ground to a third party.

Edited by Maddogbob
  • Like 2
Link to comment
Share on other sites

Forgive my ignorance but as Chansiri owns the company that owns the stadium, why can’t he just take the money from one account and stick it in another account?

 

He can always move it back at a later date and do the same thing again next year.

 

No doubt it’s not as simple as this but I’m not really clued up on these sorts of things.

Link to comment
Share on other sites

1 minute ago, TrickyTrev said:

Forgive my ignorance but as Chansiri owns the company that owns the stadium, why can’t he just take the money from one account and stick it in another account?

 

He can always move it back at a later date and do the same thing again next year.

 

No doubt it’s not as simple as this but I’m not really clued up on these sorts of things.


Don’t worry that’s how our owner feels about football.  

  • Haha 7
Link to comment
Share on other sites

6 minutes ago, Maddogbob said:

The the ownership of Hillsborough passes to the lender if DC fails to make payment.

 

The lender is a third party. Not DC.

 

And it's 6.4 million per year, for a number of years. I think, it's not just a one off.

 

Ergo, he dosn't pay, we lose the ground to a third party.


Fair play,  so if he defaults on a 6.4m loan he loses an asset worth whatever Hillsborough is worth ? 

Link to comment
Share on other sites

3 minutes ago, Royal_D said:


Fair play,  so if he defaults on a 6.4m loan he loses an asset worth whatever Hillsborough is worth ? 

I think so. There are far better finance people on owlstalk, that understand deals like this than me though.

 

That's just my basic understanding. While I understand it why he did it. For me effectively selling your home ground is never a good idea and history tells us that it normally dosn't end well for the club involved.

 

It's always struck me as robbing Peter to pay Paul.

 

 

Edited by Maddogbob
  • Like 3
Link to comment
Share on other sites

16 minutes ago, S36 OWL said:

The rollover is either because Chansiri cannot repay the loan in full so has refinanced it, or he sees it as cheaper to just keep paying an interest charge (the 200k). 

 

If its the former we should be concerned about his ability to keep on paying the wages. 

Or he could have done it to help him be able to pay the wages?

Link to comment
Share on other sites

4 minutes ago, TrickyTrev said:

So he knows about as much about it as me… great.lol

Chansiri's talent is on the field matters, not off the field.  That's why he employed a Senior Executive with one of the world's largest companies to be our CEO.

 

Trust in Chansiri, he knows what he's doing.

  • Haha 3
Link to comment
Share on other sites

14 minutes ago, TrickyTrev said:

Forgive my ignorance but as Chansiri owns the company that owns the stadium, why can’t he just take the money from one account and stick it in another account?

 

He can always move it back at a later date and do the same thing again next year.

 

No doubt it’s not as simple as this but I’m not really clued up on these sorts of things.

 

Maybe he hasn't got the money to repay the loan, hence kicking it down the road for another 12 months at the cost of 200k. 

Link to comment
Share on other sites

3 minutes ago, Maddogbob said:

He did this way before the covids was a thng. The ground "sale" was to loophole ffp.

 

that's what the ground sale was for.

 

The news of the loan to a 3rd party came in Q3 2020, not COVID related but probably related to a short-fall in cash that was needed at the time, what else would a loan of that amount be taken for? 

Link to comment
Share on other sites

21 minutes ago, Maddogbob said:

The the ownership of Hillsborough passes to the lender if DC fails to make payment.

 

The lender is a third party. Not DC.

 

And it's 6.4 million per year, for a number of years. I think, it's not just a one off.

 

Ergo, he dosn't pay, we lose the ground to a third party.

 

It's £6.4M or thereabouts for Sheffield 3 Ltd to pay SWFC for Hillsborough but as thigs stand the 3rd party charge was only taken for one year so far wasn't it? 

Link to comment
Share on other sites

17 minutes ago, Maddogbob said:

The the ownership of Hillsborough passes to the lender if DC fails to make payment.

 

The lender is a third party. Not DC.

 

And it's 6.4 million per year, for a number of years. I think, it's not just a one off.

 

Ergo, he dosn't pay, we lose the ground to a third party.

Extremely worrying details, but thanks to you and all  those on here that have explained this in more detail.

 

I admit that I am not the most financially astute and I'm not sure I really understood most of this.

 

I have perhaps concentrated on the football side of things, hoping that this will all go away, if I'm honest........

Link to comment
Share on other sites

I don’t think Mr Chansiri has the funds to pay back the loan from any of his own money and I pretty sure whoever has been bank rolling him from his family have had enough of throwing good money after bad .

  • Like 3
Link to comment
Share on other sites

24 minutes ago, hirstyboywonder said:

 

It's £6.4M or thereabouts for Sheffield 3 Ltd to pay SWFC for Hillsborough but as thigs stand the 3rd party charge was only taken for one year so far wasn't it? 

I'll be honest, my understanding is the one I posted above, the S3 and swfc deal is separate and a bit smoke and mirrors. In my opinion.

 

He's done the 3rd party deal to do the S3/swfc one. Using Hillsborough as collateral.

 

As for the payments I'm sure they are for a number of years. Who that's between, why and how. I'll leave that to better informed people, who have a greater understanding.

 

 

Edited by Maddogbob
Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...