lurcher wrote:JIN JER wrote:Don't get wound up too quickly, wait and see what the details are. I can't imagine for a minute that WMDC can just take out a loan for a private sporting club and give £3.1M to said club, the loan must have to be ratified somewhere along the line.
i agree to some extent jinj mate my post late last night was maybe a tad hasty in some respects.
having thought about it a bit more deeply i do have a major concern.
when this whole newmarket epic started it was the trust that would own the community stadium and rent it back to the club. (anchor tenants) and i don't think any one had a problem with that. although the trust were warned many times by a cas poster that they had taken their eye off the ball and it would never happen. he has been proved right so far.
my worry now is that this loan is to "the club" which i assume means the said owner of the club.
if this is so mc got the club for nothing and and by virtue of a very generous gesture by wmdc now stands to make £millions in profit if he sells the club. as you say its best to wait for details but if this is true it makes you wonder if mc has actually been in league with *^&"£$+_*&% all the time. he is first and foremost a businessman after all. as always mate we'll have to wait and see.
A couple of points her Lurcher, I'm very poor remembering figures but I'm pretty sure MC put his own house on the line as collateral against loans etc, I'm pretty sure he wiped out £600K of debt and is still clearing debt to date, so with due respect he hardly got the club for nothing.
As for being in league with, I'm assuming you're alluding to Yorkcourt I can't honestly see that for a minute reading all the comments from MC for the last few years he held YC in as much disdain as the rest of us supporters.
Again I myself can't imagine WMDC taking out a loan and "gifting" £3.1M to Trinity per se? What I could imagine would be that "The trust" would handle the loan, the club would pay rental in form of interest repayments of the loan.
I'm quite obviously a Trinity supporter, but as a bloke with morals (too many at times) in these days of food banks, people living on the streets and austerity measures in general it does sit a little uneasy with me. Then again if/when all the details surface I'm pretty sure it won't be as simple as it appears at the moment.
Ps. As another aside, another fear of mine would be, if "The trust" is to handle BV after the loan, which trust is this likely to be, could Rodders trust put themselves forward as the Trinity trust as opposed to the "official trust" that has been negotiating for five years?
And breathe.