Breaking News Reply from Justin King

[GBJ]

I can't see why they would bother ..I would imagine it just comes off the lump sum they are paying for Roots Hall although if the loan is attracting interest..the lump sum will be diminishing all the time until they get on site.

Said that a few weeks ago. This for me is quite worrying. Surely that money would have been used in the FF development project? So now we've already had £3m+ of it, does that mean that somewhwere down the line, the project will grind to (another) halt, while Honest Ron looks for more investment?

 

[GBJ]

We do not know the terms of the loan - RM would need to default on the loan or breach covenents. If the loan is covenent free and RM is meeting interest payments and the principal is not due for repayment for say 20 years then Sainsburys cannot call it in.

Do we know it is a loan? I would assume it is just chunks of the money we were ment to be getting from the sale of Roots Hall.

 

[Smiffy]

Said that a few weeks ago. This for me is quite worrying. Surely that money would have been used in the FF development project? So now we've already had £3m+ of it, does that mean that somewhwere down the line, the project will grind to (another) halt, while Honest Ron looks for more investment?

Yep, this is also my concern.

I can quite easily see the new stadium being half built, if at all. Nothing is ever simple supporting this club.

 

[Jam_Man]

Said that a few weeks ago. This for me is quite worrying. Surely that money would have been used in the FF development project? So now we've already had £3m+ of it, does that mean that somewhwere down the line, the project will grind to (another) halt, while Honest Ron looks for more investment?

Yeah thats something Ive thought of, Im hoping its 3 million of the projected profits that wont now be made. Who knows....

 

[GBJ]

Yep, this is also my concern.

I can quite easily see the new stadium being half built, if at all. Nothing is ever simple supporting this club.

Exactly. I can see it getting half done, (the shell) then Uncle ballsack saying we've run out of funds due to naughty boys at HMRC, big wages etc.

 

[Interpol Shrimper]

then Uncle ballsack...

Is he related to the former Chelsea midfielder, Michael?

 

[GBJ]

Is he related to the former Chelsea midfielder, Michael?

That's the one

 

[Shrimper Steve]

Does anybody know why SUFC are not sponsored by Sainsburys?

 

[THE SEVENTIES NORTH BANK]

Does anybody know why SUFC are not sponsored by Sainsburys?

After all the well published shenanigans of S.U.F.C and Ron Martin, they wouldn't want their good name tarnished with the same brush.
They are only in it for the great big new supermarket. Once they get what they really want and it is all finalized, they will not want anything to do with our club.
Also they have already said they do not want to be involved in football in any way

 

[Mad Cyril]

Does anybody know why SUFC are not sponsored by Sainsburys?

Probably for the same reason that Boston aren't sponsored by Microsoft or Coca-Cola.

 

[WickfordShrimper]

Got a reply as well today .lol

 

[Holy Joe]

Do we know it is a loan? I would assume it is just chunks of the money we were ment to be getting from the sale of Roots Hall.

Yes - as it is secured against the shares in the football club it must be a loan - if RM defaults on the terms of the loan Sainsburys get the shares (+ anything else secured on the loan). It may well be repaid in the end by the transfer of Roots Hall ownsership but until that happens it is debt.