But if you do go belly up, then you'll just merge with a local RU club and play in the Aviva Premiership.

That's what that letter in the HDM said.......

As i said earlier in the thread i'm pleased for the area to have this kind of investment. The more i read though the more i cant help be concerned that rather than a grant from the council which would have been wrong this is now a loan from the government guaranteed by the local council. My concern i guess is that normal providers of loans are bound by the Financial Services Authority and the recipients of the loans normally have to evidence certain income levels etc to repay the debt in full. This loan feels a bit more generous and flexible in it's nature. That not only has a risk for the loan provider (tax payer) but it does also have further risk for the guarantour. (local council)

All i can say is that i hope Rovers can keep meeting the repayments. (and i've seen no evidence that they wont) If for whatever reason they dont make the repayments it's the rest of us that will suffer!!

That isn't an additional risk, it is the passage up the chain of the same risk. If Rovers can't meet the repayments, the council will have to cover Rovers share (roughly 1/3 of the total, I believe). If the whole council goes belly up then the the rest of the country will be stiffed. It is a generous loan, I wouldn't argue with that.



By my very rough reckoning, the scale of the suffering caused by Rovers failing to make repayments would be less than £5 per head in Hull or 3p per head if it became a national problem (the latter reflecting an almost unprecendented civic crisis). Serious, but hardly catastrophic.

My point about the risk, yes it's passed up the chain. My point was mainly meaning that without this kind of loan there would have been no chance of borrowing this cash through the usual channels. That in itself shows this as more of a risky borrowing.

Breaking large figures down to cost per head always makes them seem less of a loss. The point here is that if the debt isn't repaid it means a substantial fee that could be used for doing good elsewhere has been wasted. (not for the 1st time by the government) As i said, dont think there is much chance of Rovers not meeting the repayments.

Oh I sleep soundly thank you...thats what comes of having a clear conscience

How's it coming on??

Very well AFAIK.

I went passed other day and although i didnt walk up and take a look it all seemed the same to me, didnt look as though anything has been done yet but as i said i only glanced in the general direction so may well be groundworks getting done.

most of the main components will be constructed off site, concrete cast terrace and steel work etc.

Tbh that's what I assumed - a lot of the early work won't be visable to people not in the trade (most fans I would assume).

All in good time, build it and they will come as our great chairman said.

Good point mate! Getting freezing out there again.

The stand will require significant groundworks, including some piling. Virtually all piling has been halted for the last month due to the weather.