Borrowing doesn’t necessarily need to be against the stadium. A 40 year lease and identifiable cashflow from secure rental income would be attractive to many lenders. A prudent lender would consider the level of free cash the business had (after commitments) to service the debt so reasonable to assume that the SMC had sufficient spare cashflow to fund the repayments without resorting to selling the family silver (or wallspace).
On the issue of cashflow v profits could the SMC have changed its depreciation policy based on the first 8 years experience? There is talk of the pitch relaying which could well fall into that category. Depreciation being a non-cash item may explain some of the cash balance evident despite the large losses.
Aside from all of the above points what is the protest song to be on Saturday! Happy to leave our club retaining their dignified silence but we need to continue the protest due to the disrespect of our heritage. If just a couple of JW pictures had been restored after realising the disrespect caused then I would have sat back. Until then it is “18th Man v Mr Allam”!

We don't need to know the precise terms to know that a party who has signed a confidentially clause can't opt out of it on a whim or at the behest of one of the other parties made informally in the media.


Actually I do know that, but there are certain invariant properties when it comes to confidentially clauses. The main one being that a party subject to one cannot simply ignore it at will without consequence.


I was once legal adviser to the Crowned Heads of Europe and assisted in purchases of a number of castles, palaces and the like.

Oh, wait - I just made that up. Easy, isn't it?

I cannot be bothered to trawl through the pages, but did you say you are 21 years old and worked in finance at some point in this thread?

He whizzes down to the Old Bailey at weekends on his scooter to do the legal stuff. They're usually shut at weekends mind.

quick edit haha

both speak out of allems anus'

No, this isn't this idiot, this is another idiot who goes under the name of City1904. Although its difficult to tell one idiot from another with all their inane ramblings.

I think we should do what West Yorkshire Police have done, and limit the attendance of City fans on our forum.

This thread has completely lost it's way and that's why it's being locked.

Feel free to start another SMC thread with a review of what's happened and where we are currently but constant squabbling isn't helping.