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Loans concern

Loans concern

S

spark

Joined
Sep 10, 2018
Messages
15
Trevor Hemmings put millions into PNE for which he charged commercial banking rates. Since his death, many more millions have been injected into the club, also in the form of loans. Since Mr Hemmings died, interests rates have soared and so
has the cost of loans to PNE. it is therefore very unlikely that PNE will have any money to invest in buying new players as they pay substantial interest payments to the owners. The owners, who I think are Deepdale Holdings, are perefectly entitled to take interest on the loans but the question has got to be asked how long can this go on and what happens next? The fans are entitled to know because they are investing their own cash at the gate and can see the inevitable coming in the near future.
 
spark said:
...the cost of loans to PNE. it is therefore very unlikely that PNE will have any money to invest in buying new players as they pay substantial interest payments to the owners.
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No need to worry. There's still millions available for buying new players, just as long as the price tag is "free". We just gotta be creative how we spend those millions. It's similar to Westley's invisible weights sessions - you feel the burn, the rush of adrenaline, but don't actual do anything.

Rankine said:
Thread closed 🤣🤣
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Indeed.
 
They used to charge interest, but when TH wrote a load of loans off around 2013-14, they stopped charging interest on subsequent loans.
 
spark said:
Trevor Hemmings put millions into PNE for which he charged commercial banking rates. Since his death, many more millions have been injected into the club, also in the form of loans. Since Mr Hemmings died, interests rates have soared and so
has the cost of loans to PNE. it is therefore very unlikely that PNE will have any money to invest in buying new players as they pay substantial interest payments to the owners. The owners, who I think are Deepdale Holdings, are perefectly entitled to take interest on the loans but the question has got to be asked how long can this go on and what happens next? The fans are entitled to know because they are investing their own cash at the gate and can see the inevitable coming in the near future.
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I didn't think they did loans, I thought they invested money in by converting into shares. Means no interest.
 
If this was an exam answer there would be marks for spelling and grammar at least.
 
My apologies to all over the loans and interest error. It stemmed from an earlier story about Mr Hemmings charging interest at commercial rates. This was some years ago and, as stated, interest has not been charged on subsequent loans which is to the credit of the owners.
 
spark said:
Trevor Hemmings put millions into PNE for which he charged commercial banking rates. Since his death, many more millions have been injected into the club, also in the form of loans. Since Mr Hemmings died, interests rates have soared and so
has the cost of loans to PNE. it is therefore very unlikely that PNE will have any money to invest in buying new players as they pay substantial interest payments to the owners. The owners, who I think are Deepdale Holdings, are perefectly entitled to take interest on the loans but the question has got to be asked how long can this go on and what happens next? The fans are entitled to know because they are investing their own cash at the gate and can see the inevitable coming in the near future.
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Get your facts right. You have made yourself look silly
 
rem said:
Get your facts right. You have made yourself look silly
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To be fair to @spark their prior knowledge of the financial dealings is probably what the average fan thinks the situation is.

Prior to the "takeover" Hemmings was lending the club money with interest added and this was at a time when the average person's savings account had gone from 5/6% to below 2% so it got a bit of publicity in the LEP so that thought will have stuck with a lot of people.

When Hemmings stopped charging interest it didn't receive quite the same publicity. One Hemmings didn't communicate with the media as much as Shaw did and two it didn't really mean much to the club as even by 2014 the club was already in a position where Hemmings was never likely to make a return on his deficit.

The majority of fans have probably seen the statement about the losses and read the headline and probably not been surprised by the amount lost - although it is an absolutely staggering amount. If they've read about it online they also have access to the full accounts but 99% won't bother to read them.

Yes, without the Hemmings we wouldn't have a Championship club but soon we're likely to be in League One and it'll have cost them £100 million with the best they'll have to show for it finishing 7th one season.

That will be Hemmings legacy and how he'll be remembered in football circles. Not the canny working class lad who dragged himself up from nothing to become a billionaire but the fool who spent £100 million of tippy tappy sideways passing fannying about on the edge of the box shite.
 
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