| Council loan to Stadium Co on 17:01 - May 20 with 6803 views | blackdogblue |
We have only just paid them back to get the ground???
If the Government is paying furlough for the players / staff etc why do we need money??? We own the ground so any debts on a “mortgage” will be owed to the same company getting the loan...
Strange stories out today, must be the weather but on a better note, watch the beardy board go into complete meltdown now, wouldn’t like to be a certain MP   | |
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| Council loan to Stadium Co on 17:06 - May 20 with 6801 views | BartRowou |
I know nothing about football finances so this is a guess but maybe it's to cover money that hasn't come in yet but will do e.g. the Dawson money.
I'd like to know how much the ticketing system and pitch have/will cost if we're in need of a loan from the council. | |
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| Council loan to Stadium Co on 17:12 - May 20 with 6776 views | James1980 |
Perhaps the trust could find out if we were contractually obliged to complete the deal for pitch and ticketing system. | |
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| Council loan to Stadium Co on 17:15 - May 20 with 6751 views | blackdogblue |
Hasn’t DB recently said both are going ahead regardless James?? | |
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| Council loan to Stadium Co on 17:25 - May 20 with 6726 views | smaclad1 |
The MEN story, despite its breathless claims of details in a restricted report, only contains publicly available information and quotes from Councillor Brett.
http://democracy.rochdale.gov.uk/documents/s71929/Football%20Club%20002.pdf
Elsewhere on the Council's website is a long document called the Forward Plan which lists forthcoming decisions and which adds a little more information - "Outline proposals for a loan to the club on a commercial basis. The club had planned needed capital improvements to the stadium prior to the Covid19 pandemic which has caused cashflow issues." The only significant capital works I can think of are the pitch works in which case the loan is, in one way or another, supporting those works.
It is disappointing that the Club has had to go cap in hand to the Council again, but presumably they are offering the most beneficial terms or we were in need of a banker of last resort. Either way, if this is what was needed to get the pitch works done... [Post edited 20 May 2020 17:27]
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| Council loan to Stadium Co on 17:31 - May 20 with 6705 views | rochdaleriddler |
I think it is good that the modernisation of the ticketing system and the pitch repairs are going ahead. I’m sure Rochdale isn’t the only club with cash flow problems, we have had no match day income for months, and whilst most staff are furloughed there are still some that need paying. Better to owe the council, than some dodgy bank imo | |
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| Council loan to Stadium Co on 17:49 - May 20 with 6654 views | dawlishdale |
It seems very strange to me that we have approached RMBC ahead of our Bank. almost too strange to be true...There were plenty of adverse comments made by a prominent Director aimed firmly at RMBC regarding their hardball tactics when we were negotiating to buy the stadium shares from them.
Wonder if our Bank said no and we had no choice? | | | |
| Council loan to Stadium Co on 17:56 - May 20 with 6632 views | Dalenet |
How many dodgy banks do you know? They are all pretty much regulated up to their eyes. Can't even fart without an approved procedure | | | |
| Council loan to Stadium Co on 17:57 - May 20 with 6623 views | Dale23years |
Bury can tell us a few [Post edited 20 May 2020 17:57]
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| Council loan to Stadium Co on 18:02 - May 20 with 6606 views | James1980 |
Is it because we had paid deposits signed contracts and could have lost them or be in breach of contract if those projects are not completed? | |
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| Council loan to Stadium Co on 18:02 - May 20 with 6604 views | judd |
Hi smaclad1, I cannot find the dates of the council decision and the quote that you have posted. Any chance you can enlighten me please? | |
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| Council loan to Stadium Co on 18:04 - May 20 with 6598 views | judd |
Think bury FC and their myriad of lenders | |
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| Council loan to Stadium Co on 18:17 - May 20 with 6567 views | BigDaveMyCock |
To consumers yes, to corporates no. Freedom of contract. The big clearing banks are more regulated than the smaller banks/funders. | |
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| Council loan to Stadium Co on 18:20 - May 20 with 6561 views | rochdaleriddler |
A lot of sub prime lenders out there, I’m guessing the football clubs bank, and others weren’t keen on lending. I don’t think RBC will sell the ground if Dale miss a payment | |
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| Council loan to Stadium Co on 18:20 - May 20 with 6558 views | D_Alien |
Not too concerned about this
The loan against assets always sounds like a risk but let's face it - if we can't repay this loan we're fooked anyway, so probably the best worst option | |
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| Council loan to Stadium Co on 18:26 - May 20 with 6534 views | Sandyman |
https://www.rochdaleafc.co.uk/news/2016/march/rochdale-football-club-secure-full
The Council helping us out with a secured loan to ensure they get their original loan back on behalf of the Rochdale public? Maybe. At least it looks open and above board, not shady deal after shady deal with lord knows how many owners and companies, selling off car park spaces, the ground, taking out loans with no possible means of repayment or ripping off investors etc etc like one club did.
At the last fans forum, people were very impressed by the way Tony Pockney spoke on our finances. One presumes he's had something to do with this. Yes, another expense we don't need but needs must in such difficult times. Nice to hear Brett speak of RAFC as an asset to the borough for once. Keeping RAFC in business also helps secure the future for Hornets in this town as well. | | | |
| Council loan to Stadium Co on 18:39 - May 20 with 6490 views | boromat |
I might be making this up but didn't DB or one of the board members mention the lack of support from banks to football clubs recently. Maybe it was the forum?
And maybe it isn't as much a loan as an extension to paying the existing loan on the stadium? Either way it doesn't concern me but would have preferred to hear it first from the club. | |
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| Council loan to Stadium Co on 18:42 - May 20 with 6480 views | blackdogblue |
Dig dig dig at RIPBURY 😀😀
Something though we won’t agree on mate, is now the time to shunt the Hornets to Mayfield?? Monkey on our back springs to mind. They are skint & didn’t most of their board leave? Hope the loan is for RAFC & nothing to do with paying 50% salaries for Hornets “managers & directors” | |
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| Council loan to Stadium Co on 18:50 - May 20 with 6460 views | Sandyman |
Under previous regimes at Hornets, I would agree with you. However, the new owners, to date have been very accommodating. DB spoke highly of them at the fans forum. Along the lines of best relationship we've ever had with Hornets. Wonder how RL teams without the resources of even a small club like Dale are going to get through the pandemic? Can understand that a lack of Taddie's is making you a bit ratty  [Post edited 20 May 2020 18:51]
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| Council loan to Stadium Co on 19:11 - May 20 with 6398 views | isitme |
It is really interesting and pleasing that the council are backing the club like this. Some may argue that the council should be spending the money elsewhere, but will miss the point that loaning the club money will earn them interest. | | | |
| Council loan to Stadium Co on 20:22 - May 20 with 6265 views | blackdogblue |
You know I prefer Double Four 😀 Sam Smiths finest ale & yes would murder for a pint which reminds me... new post coming 😂 | |
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| Council loan to Stadium Co on 20:34 - May 20 with 6236 views | judd |
Cheers pal. Hope all is safe and well with you and yours. | |
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| Council loan to Stadium Co on 20:44 - May 20 with 6205 views | judd |
The costs of the loan are to be serviced by future transfer earnings.
We know we are due a sizeable amount from the Dawson deal in the next few months so should be a good deal all round. | |
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| Council loan to Stadium Co on 20:51 - May 20 with 6192 views | smaclad1 |
We're all Ok thanks - the lad's officially shielding and we're obviously taking great care of daughter so we've been pretty cautious. All well with you and family? | | | |
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