Investment loan

[brog]

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Its disappointing to have gone from having no external debt to having almost £5m in loans between the Gov loan and this new one.

The only reason we had no external debt was because Ron paid it off. If you look at our accounts in the 4 or 5 years up to July 2019, when Ron took over, our debt was roughly 5 to 7 milion each year. Despite the rigours of Covid, taking an interest free Govt loan (smart business) to help and making substantial improvements to the stadium we still have less debt than in the preceding years of the takeover. You must have been really disappointed in those days!

[Ringothedog]

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The only reason we had no external debt was because Ron paid it off. If you look at our accounts in the 4 or 5 years up to July 2019, when Ron took over, our debt was roughly 5 to 7 milion each year. Despite the rigours of Covid, taking an interest free Govt loan (smart business) to help and making substantial improvements to the stadium we still have less debt than in the preceding years of the takeover. You must have been really disappointed in those days!

Stop giving facts to the doom mongers, it’s not allowed

[WhileTheChief..]

Car crash of a thread with the insults flying around.

[Glory Lurker]

Where is the news about this loan?

[HoboHarry]

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Judging by your posts you were born disappointed.

His mum too probably.....

[danhibees1875]

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Its disappointing to have gone from having no external debt to having almost £5m in loans between the Gov loan and this new one.

It wouldn't have been in the plan, but neither was Covid.

I'm sure they will have been taken out in good faith, for the right reasons.

[ancient hibee]

With inflation at over 10% and fixed loan interest rates at 4% taking out a business loan is the obvious thing to do.

[lucky]

The government loan was interest free over 10 or 20 years. The club would have been stupid not to take it. As for the new loan none of know what it’s for for or the terms of it but shareholders can ask at the next AGM.

[donno]

This is how an accountant in my family explained the Hibs purchase.
Ron and STF came up with an agreed value of the club. Let's call it X.
Hibs had recognisable debts. Let's call them Y.
The amount Ron payed for the club was Z.
Z=X-Y. With the agreement that Ron would pay off the debt Y, on completion of the deal.


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[Hibs4185]

We are guaranteed a 8 figure some over 10 years from elior.

Ron has lent us £2 million to pay for the upgrades over 9 years.

Over the 9-10 years we are at least £8 million up.

Normally if we were racking up debts I’d be the first to be worried but in this case it’s pretty sensible.