Lookers_Carl Posted January 20, 2012 Share Posted January 20, 2012 (edited) http://menmedia.co.uk/manchestereveningnews/news/s/1471409_storm-as-manchester-council-offers-fc-united-a-500k-loan-towards-new-moston-stadium Manchester City Council offered FC United a loan to cover the funding shortfall for their new 4.5 million pound stadium in Moston. A few people not happy at all. But top and bottom of it is with a supportive council behind them, they could very easily be in their new home before the end of the year. The ultimate irony though, a club set up in protest of the 'huge debts the Glazers saddled onto Man U' will now also be saddled with what will be a huge debt at that level???? Edited January 20, 2012 by Lookers_Carl Quote Link to comment Share on other sites More sharing options...
jimsleftfoot Posted January 20, 2012 Share Posted January 20, 2012 http://menmedia.co.uk/manchestereveningnews/news/s/1471409_storm-as-manchester-council-offers-fc-united-a-500k-loan-towards-new-moston-stadium Manchester City Council offered FC United a loan to cover the funding shortfall for their new 4.5 million pound stadium in Moston. A few people not happy at all. But top and bottom of it is with a supportive council behind them, they could very easily be in their new home before the end of the year. The ultimate irony though, a club set up in protest of the 'huge debts the Glazers saddled onto Man U' will now also be saddled with what will be a huge debt at that level???? A £500k loan in relation to a £4.5 million stadium means they are only borrowing just over 11% of the cost of the stadium. I don’t consider that to be particularly bad really. Quote Link to comment Share on other sites More sharing options...
Lookers_Carl Posted January 20, 2012 Author Share Posted January 20, 2012 A £500k loan in relation to a £4.5 million stadium means they are only borrowing just over 11% of the cost of the stadium. I don’t consider that to be particularly bad really. Considering the level of football the club is currently playing at, the 5th or 6th tier in English football, thats a pretty big debt to take on, although I believe that they still want to raise the funds themselves. Quote Link to comment Share on other sites More sharing options...
futchers briefs Posted January 20, 2012 Share Posted January 20, 2012 (edited) Considering the level of football the club is currently playing at, the 5th or 6th tier in English football, thats a pretty big debt to take on, although I believe that they still want to raise the funds themselves. Totally agree I wonder if the green and yellow/red/green and yellow/red brigade will crawl back under the same hypocritical, ironic rock they came from with the debt only ever likely to increase - I doubt it. Edited January 20, 2012 by futchers briefs Quote Link to comment Share on other sites More sharing options...
leeslover Posted January 20, 2012 Share Posted January 20, 2012 It's not really comparable to the Red Soxx debt though - more like the opposite. The Glaziers borrowed against the income of the club whereas this is borrowing to invest. Still hope it goes tits up of course. Quote Link to comment Share on other sites More sharing options...
jimsleftfoot Posted January 20, 2012 Share Posted January 20, 2012 I don't think the tier of football makes that much difference as long as they are breaking even and can pay the money back. Yes they will probably have reduced income but also reduced expenditure, especially wage costs, in comparison to us. Quote Link to comment Share on other sites More sharing options...
Forte_Baby Posted January 20, 2012 Share Posted January 20, 2012 It be peanuts money be paid back in no time. Am sure some ex red will donate money or because of there profile a few big pre season games hate to say it they wont go skint sad. Quote Link to comment Share on other sites More sharing options...
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