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Topic: Council Loans

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Youth Team
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Council Loans

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"The Council has provided two loans in respect of the new ground for Rotherham United Football Club.  Details of the loans, both of which are for 10 years, and the amounts outstanding as at 8/09/17, are below: Loan 1 to RU Estates – £2.800m issued in April 2012.  £2.726m outstanding. Loan 2 to ASD Lighting PLC Pension Fund – £1.327m issued in July 2012.  £663k outstanding. The interest rate of the loans is considered to be commercially sensitive information, but is at an appropriate market rate.  Both loans are fully secured on the assets of the respective companies, therefore, there are no implications for the Council’s loans in the event that the Football Club goes into administration." Dont know much in relation to the finances of RUFC, but i thought we would have paid most of the loans off by now to the council, its our 6th season at NYS and i couldnt be happier with it, apart from G&C building, Might be something to ask at the fans forum, but is this something we need to be thinking about?? Does anything happen if we dont pay it off before 10 years are up?? I trust TS does run a tight ship, but would be interesting on how our finances are shaping up at the moment,

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Vice-Captain
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Source of information?

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Youth Team
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Saw it on here, https://rotherhampolitics.wordpress.com/2017/09/21/loans-provided-by-rotherham-mbc/ Assume the council would be happy to extend any loan period with the club, but as i said before, dont understand this side of it myself,

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Moderator
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But RU estates is nothing to do with the club? - we rent to RU Estates? hence the reason why very little of the principal sum has been paid back the only source of income being our rent?

Also what the heck has ASD's pension pot got to do with us?

Some serious questions need to be asked here on the linkages with these and other things.



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Reserve Team
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Jesus
What ever happened to going to watch your team play on Saturday and enjoying it ,sick of people analysing everthing ,we've got more bl*****g wannabe chairmen and managers than I can do with ,please tell me how to get off this site ,

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There are massive implications to this?

What's wrong with not looking at the bigger picture?

If say, for example because of these loans it means we're actually loss making and only able to sign L2 players and ended up back there you'd want an explanation surely?


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First Team
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As a council tax payer why are we making loans to a pension fund? Presumably the loan was to enable the fund to pay out to its pensioners? Bizarre.

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