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| Quote brian2="brian2"Cannot argue with the sentiments behind the article. and its very good news, if true, that David Hughes will give support for two more years (and credit to him after the last 2 years! Even given Gutterfax says). There are still too big questions:
1. What are the debts, what will it take to make the Clud debt free?
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Close to £11m at end November 2011, all of it funded (not sure of correct technical term) as loans by David Hughes. As we've been losing about £2m per season, that will now be up to about £15m. |
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Thats a rather depressingly large figure, and i certainly cannot see RFL coming up with that, or necessarily anyone else..............................
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| Quote BroncOnIon="BroncOnIon"Close to £11m at end November 2011, all of it funded (not sure of correct technical term) as loans by David Hughes. As we've been losing about £2m per season, that will now be up to about £15m.'"
Heres how i read it having no inside information and just using commonsense approach. The broncos have no assets but debts of £15M? and are losing £2m a season. You cannot sell businesses like that and DH knows it and is just looking for a benefactor to take over trying to keep the club going be it as a losing concern but with a potential to break even with the right investment/management ? For the new owner to take over he will just want DH to write them off his debts before he is prepared to take them over. Its just straightforward paperwork that needs to be completed as part of the process if the Hive deal gets off the ground. |
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Yes there's only one person paying off the debts, DH.
The issues to be resolved with the RFL and other SL clubs probably revolve around who's running the academy, the size of the stadium, overseas player exemption.
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That sounds about right, presumably DH has given up on the "debt" wants someone else to come in and share the burden for a year or two?
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Lets just see what happens......................................
Stop all the crap, lets just settle and move on finally, awful season, we DID NOT win wooden spoon, season over...............................
It all starts from NOW.............................................
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Good luck on this
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| Quote poplar panther="poplar panther"As reported by Chris Irvine there is a piece in League Express this morning
LE reporting Barnet FC chairman willing 2 buy debt-free @LondonBroncosRL David Hughes will still invest. 2 weeks to do the deal #rugbyleague
So life in the old horse yet!'" 13 days to go. |
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12 days to go.
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| Quote BroncOnIon="BroncOnIon"12 days to go.'"
Do you think theres a Council Meeting within that time frame? I can't see how anything can be decided before this issue with the usage of The Hive is resolved. |
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I know there's issues with upgrading the stadium floodlights etc but is there definitely an issue with us playing there? Do Barnet need permission or maybe they already have it covered as the owner has in the past expressed an interest in buying a rugby club?
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