Is the interest being paid on the 3 million loan included in the 50k a year loss or not. If it is included then the shay is not looking money it is the interest on the loan that is loosing money. If it is not included then the shay is loosing more than 50k a year. What ever way you look at it selling the shay for 2 million saves money in the long term. If the interest is included in the 50k then selling for 2 million reduces the interest by 2/3 (17k) if the interest is not included then they would save themselves 50k + 2/3 interest payments. And all future repairs / up keep.
These are all rough calculations as I do not know the true figures.
If it was me I know what I would do.
Sell it to a big property developer or supermarket for 4 million and make some money
.
Then may be you would say, "if only we had not been so hasty judging Tony where are we going to play football now"?
On a serious note the 2 million offer would help the council balance the books better I would say.
The rugby club would be ok, I'd move up the road to the Klondike and get a gold mine build a stadium in Nnrth America move the team to the stadium and call it expanding the game.
I would be the new saviour of rugby league.
