Bluedell 5,329 Posted July 23, 2010 Share Posted July 23, 2010 I was talking about the �£22million HBOS/Lloyds loan that kicked in a couple of years back. That was to be paid back at �£1million per year over 22 years so I've always assumed (perhaps wrongly) that when they talk about increased payments to our debt, primarily they mean this loan which forms the majority of our �£27-31million overdraft. If they mean the credit facility, then are they're talking about the �£15million rolling loan which MIH historically supplied? If that is to be reduced by �£1million per year then I'm unsure where that would leave us as, IIRC, it is used usually to tide us over during the 2nd half of the season. The loan is repayable at �£1m per year. There has never been any mention of the credit facility reducing by anyone in the club. See post 28. 0 Quote Link to post Share on other sites More sharing options...
rbr 1,247 Posted July 23, 2010 Share Posted July 23, 2010 The loan is repayable at �£1m per year. There has never been any mention of the credit facility reducing by anyone in the club. See post 28. This is yet another internet story being taken up and becoming reality , however people within the club need to take a long hard look at themselves , the constant conflicting stories and press reports has left the vast majority just absolutely baffled at any apparent direction we seem to be going in . Again this years AGM should be made to be relevant and less questions about socks would be appreciated ! 0 Quote Link to post Share on other sites More sharing options...
johnnyk 158 Posted July 23, 2010 Share Posted July 23, 2010 Boyd was offered �£18,000 a week and �£4000 a game. He knocked it back. Nobody has mentioned this quote above from the Bain article!!!. How can he turn down such an offer from the club he is supposed to support????. I think Boyd will regret this move,hopefully. I used to remember not that long ago players never wanted to leave us and were gutted if they did. Now it seems no one cares if they leave us or not and especially so called Rangers die hard supporters as Ian said about Boyd. OK we have no money but there doesn't seem to be the same prestige playing for Rangers these days as there used be. The only person who seems to want to stay is Walter. 0 Quote Link to post Share on other sites More sharing options...
wabashcannonball 0 Posted July 23, 2010 Share Posted July 23, 2010 The loan is repayable at �£1m per year. There has never been any mention of the credit facility reducing by anyone in the club. See post 28. Not according to the chairman. http://www.rangers.co.uk/articles/20091207/alastair-johnston-statement_2254708_1898319 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,329 Posted July 23, 2010 Share Posted July 23, 2010 "In fact, as set out in our financial statements at June 30 the bank has agreed that the Club's only obligation is to operate within a credit facility that reduces by �£1 million per year. " There is a term loan of �£20,000,000 repayable over 20 years at a fixed rate above LIBOR which is the Groupâ��s benchmark interest rate. The Bank of Scotland plc has a floating charge and guarantees from each Group company on account of each other in respect of the loans and the overdraft. At 30 June 2009 the Group had a revolving credit facility of �£15,000,000, which is reviewed annually in December. It's clear that AJ is talking about the overall facility with the bank and not the revolving credit facility. 0 Quote Link to post Share on other sites More sharing options...
Gribz 743 Posted July 23, 2010 Share Posted July 23, 2010 I was surprised to read somewhere that Thomson wanted to leave. As for Boyds Salary if he was playing well he would be in the team and getting 22k a week, id imagine he would probably have got a scoring bonus aswell. Well Im glad he has moved on. The club cant afford that kind of money for better players than Boyd yet he was offered it. Obviously money spoke louder than his boyhood club. Boro wont be paying him much more than 22k a week in the Championship, id imagine it will increase if they get promoted. That move will come back and bite Boyd and Im one who is confident I'll be saying he is being shown up in the Championship and wont get near 20 goals. Id have given Novo a 2 year deal on 15k a week miles ahead of Boyd on 22k a week. 0 Quote Link to post Share on other sites More sharing options...
wabashcannonball 0 Posted July 23, 2010 Share Posted July 23, 2010 It's clear that AJ is talking about the overall facility with the bank and not the revolving credit facility. That is a novel interpretation, if you can get the figures to work out over 20 years at any rate you like above LIBOR, you should get a job with William Hill. I wouldn't half mind this mythical million.... 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,329 Posted July 23, 2010 Share Posted July 23, 2010 That is a novel interpretation, if you can get the figures to work out over 20 years at any rate you like above LIBOR, you should get a job with William Hill. I wouldn't half mind this mythical million.... Yawn . 0 Quote Link to post Share on other sites More sharing options...
wabashcannonball 0 Posted July 23, 2010 Share Posted July 23, 2010 Yawn . My sentiments exactly... 0 Quote Link to post Share on other sites More sharing options...
calscot 0 Posted July 23, 2010 Share Posted July 23, 2010 That is a novel interpretation, if you can get the figures to work out over 20 years at any rate you like above LIBOR, you should get a job with William Hill. I wouldn't half mind this mythical million.... Hardly understood a word of your post but it seems you're struggling with the concept of loans. It's obvious to me that the club are obliged to pay �£1M a year in capital plus any interest accrued. Figures work out easily for any 12 year old. For example, suppose the interest is 5%, for �£20M that's �£1M on top of the �£1M capital. Now 1+1=2. That makes a repayment for the year of �£2M. This will be in addition to any interest accrued on the overdraft. It's not rocket science, betting nor mythical spells. 0 Quote Link to post Share on other sites More sharing options...
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