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Post by cheadlepotter on Jan 7, 2021 20:11:30 GMT
Let’s hope they didn’t notice an interest rate of 10000000% that Boris slipped in. Wankers.
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Post by thfc67 on Jan 7, 2021 20:33:14 GMT
I get the Arsenal hatred on here, but these are short term loans, nothing to do with the tax payer and guaranteed to be repaid. I quote from the Guardian:
"The loan, which must be paid back by the end of May along with an undisclosed sum of interest, is designed to cover losses and will not have any effect on Mikel Arteta’s winter transfer plans. It has been provided by the bank’s Covid corporate financing facility, which assists organisations that meet highly specific investment criteria and are deemed to make significant contributions to the economy. Tottenham Hotspur and the Football Association are the only other football institutions to have made use of the scheme."
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Post by whatsashig on Jan 7, 2021 21:08:42 GMT
They're not the only ones apparently, according to my mate who is an Arsenal fan, Spurs have also taken it. Despicable if you ask me. There is enough money in football without using ours. The only money that should go into a club from the taxpayer is what they decide to put in themselves. Bet : football v business in whatever environment cup Morally 0 : supposedly righteous 5
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Post by Widget123 on Jan 7, 2021 21:18:47 GMT
It's basically the cheapest money they'll ever get even if it had a whole bunch of terms for repayment off setting £120M of expensive debt and paying if off with funds at rock bottom APRs will save them a fortune even in a short term. Its no surprise the FDs have looked at it as a easy way to make the balance sheet look better and hence probably increase their bonus'...
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Post by Deleted on Jan 8, 2021 3:29:18 GMT
Fact is Macc wouldn't be able to pay a loan back, Arse can and will. Not really that big a deal.
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Post by claymore on Jan 8, 2021 10:37:49 GMT
It's not the fact that it's The Arse specifically for me, it's the fact that it's a rich club that has recently been throwing money around like confetti on new player contracts. The taxpayer should not be supporting that. The only way on earth this could possibly be legitimised is if it is offered to all league clubs as per the Macclesfield example quoted above. Didnt they also sack their mascot claiming they had no money then went and spend 40odd million on a midfielder And sacked back office staff too on the same day, fucking loathsome club.
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Post by jarhead on Jan 8, 2021 10:51:36 GMT
Yet Macclesfield Town went bust with debts of 500k.. Disgusting
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Post by Squeekster on Jan 8, 2021 12:28:53 GMT
So the clubs taking this loan will not be able to buy players then I take it if they can't afford to run the club without it?
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