PMG - Thoughts WElcome

Paul Guy is the greediest selfish person full of only self gain . He has used cardiff only for his own ends . Lets get rid of him ASAP , how much has he put in compared to what he has taken out ??

We owe him £2m in September , the Malasians are ploughing in money while he sits back and does nothing , its guys like him deserve 5p in the pound admin !

Greedy GIT !!!!

Paul Guy is the greediest selfish person full of only self gain . He has used cardiff only for his own ends . Lets get rid of him ASAP , how much has he put in compared to what he has taken out ??

We owe him £2m in September , the Malasians are ploughing in money while he sits back and does nothing , its guys like him deserve 5p in the pound admin !

Greedy GIT !!!!

Fans buyout, think about it, 25000 fans paying £320, or 50000 paying £160.

Paul Guy is the greediest selfish person full of only self gain . He has used cardiff only for his own ends . Lets get rid of him ASAP , how much has he put in compared to what he has taken out ??

We owe him £2m in September , the Malasians are ploughing in money while he sits back and does nothing , its guys like him deserve 5p in the pound admin !

Greedy GIT !!!!

Fans buyout, think about it, 25000 fans paying £320, or 50000 paying £160.

Or fan pressure ?? Demo , march at bis business . Look at Premier seat fiasco as well ?

The GUY is trouble

He knew what he was doing else he would have not put so much money into the club. Even so there was still a risk to what he was doing so that must come into account. If someone took us into admin he would have lost alot. Saying that with him about I doubt anyone would have been able to put us into admin.

Basically they had ther money so could do what they wanted. They made a big mistake allowing the Riddler a free reign. Saying that I wonder if they knew exactly what he was doing but used it to take the attention away from them so they could get what they wanted. The fact that they are doing very little now indicates that.

It will now be interesting to see how the Malaysians go about their business with PMG. I've heard so many scenarios how it is going to pan out I have given up trying to guess/work out how it will. Whatever happens though I dont think PMG will lose out much if at all but will most likely gain from it again.

He has been showing his true colours for ages now. He must be like a leper in the boardroom.
Whilst TG and VT are sorting out debts and paying for our loan signings PMG is stamping his feet, throwing his toys out of the pram insisting that he gets his pound of flesh.

The low life is a disgrace.

he's a class A c**t!!

WE NEED HIM OUT

HE STOOPS LOWER THAN A TOAD'S TESTICLES !!!!!

Don't know Paul Guy or to much about him, so won't slate him here....

Am I right in believing (regardles of personal gain for now) he was one of the reasons we are still in existence today??

I'm always happy to be corrected (as, my personal dominatrix aka 'the wife' will tell you!! ) but at the end of the day he is a businessman who saw an (unfortunate) situation and took a chance it would pay off....thankfully for us.

We need to remember that Mike Hall is part of that group and will possibly return once the Hammam (oops, I mean Langston) Corporation are paid off.

Can someone please enlighten me on what EXACTLY the issue is....

Cheers

Paul Guy is the greediest selfish person full of only self gain . He has used cardiff only for his own ends . Lets get rid of him ASAP , how much has he put in compared to what he has taken out ??

We owe him £2m in September , the Malasians are ploughing in money while he sits back and does nothing , its guys like him deserve 5p in the pound admin !

Greedy GIT !!!!

people have short memories where paul guy is concerned
when sam went tits up and ran out of cash paul guy kept the club running by pumping his money in to the club to pay the wages etc for the following 6 months.
without that money there would be no football club
he then put forward the money to fund the shortfall in the stadium costs and before i get the retail pask thrown at me it should be remembered that sam and capitol and regional started the retail park project and pmg only took it over when capitol and regional pulled out.
he is owed money the same as sam and steve borley are owed money so they should all get what they are owed if the malaysians want outright control of the club.
he is also allowing 2.7 million of that debt to be converted into shares at the malaysians discretion.
i would have thought that if we are lucky enough to have reached the premiership this time next year the malaysians will have been more than happy to have paid all the debts and own a premiership club and a new stadium for an outlay of 30 million

Like BakedAlaska said we have been over all the possible scenario’s a million times so it is now a case of wait and see, although the day PMG walks out the door fully paid up and are no longer part of this club it will be a very welcome one for me.

One of things I have always wondered about PMG's involvement was how did they come to 'lend' us £9m? From my understanding the stadium was funded from several sources, a City Council grant, money from CCFC, sale of Ninian Park and PMG's purchase of the land on which the retail park was built.

We were always told that the whole land plot (on which the retail park and stadium were built) was worth £100m before it was handed over to CCFC.

Yet PMG only paid £35m for the land they acquired i.e. the retail park. Just looking at the 2 sites (the stadium + car park & Retail Park + car park) I would guess the land was split 50/50 even taking into consideration Glamorgan Records Office and the House of Sport.

So why didn't PMG pay us £50m? If they had done then there would be no need for their loan and the stadium would have been built without a residue debt along with cash flow leftover for the fit out.

Personally I think the £9m they 'lent' us was due to us any way, but they did it this way so they got a foothold in the club from which they could milk it for more (which they have since done to quite a considerable affect).

I have no definite evidence, only circumstantial, but having seen their greed over the past 7 years and knowing the way big money always works for self-interest of a privileged few it wouldn't surprise me in the least.

Don't know Paul Guy or to much about him, so won't slate him here....

Am I right in believing (regardles of personal gain for now) he was one of the reasons we are still in existence today??

I'm always happy to be corrected (as, my personal dominatrix aka 'the wife' will tell you!! ) but at the end of the day he is a businessman who saw an (unfortunate) situation and took a chance it would pay off....thankfully for us.

We need to remember that Mike Hall is part of that group and will possibly return once the Hammam (oops, I mean Langston) Corporation are paid off.

Can someone please enlighten me on what EXACTLY the issue is....

Cheers

Of course the alternative argument is Paul Guy went from Millionaire to multi-millionaire because CCFC is in existance today.

Like BakedAlaska said we have been over all the possible scenario’s a million times so it is now a case of wait and see, although the day PMG walks out the door fully paid up and are no longer part of this club it will be a very welcome one for me.

One of things I have always wondered about PMG's involvement was how did they come to 'lend' us £9m? From my understanding the stadium was funded from several sources, a City Council grant, money from CCFC, sale of Ninian Park and PMG's purchase of the land on which the retail park was built.

We were always told that the whole land plot (on which the retail park and stadium were built) was worth £100m before it was handed over to CCFC.

Yet PMG only paid £35m for the land they acquired i.e. the retail park. Just looking at the 2 sites (the stadium + car park & Retail Park + car park) I would guess the land was split 50/50 even taking into consideration Glamorgan Records Office and the House of Sport.

So why didn't PMG pay us £50m? If they had done then there would be no need for their loan and the stadium would have been built without a residue debt along with cash flow leftover for the fit out.

Personally I think the £9m they 'lent' us was due to us any way, but they did it this way so they got a foothold in the club from which they could milk it for more (which they have since done to quite a considerable affect).

I have no definite evidence, only circumstantial, but having seen their greed over the past 7 years and knowing the way big money always works for self-interest of a privileged few it wouldn't surprise me in the least.

Tony

What happened under the business plan for the new stadium deveopment was that , even after the PMG money they had to pay in exchange for the retail development , the Football Trust grant (there wasn`t a Council one - only the "gifting" of the land) and a Barclays Bank bridging loan (repaid when Ninian Park was sold to Redrow) , there was still a shortfall of about £16m in the funds needed to build the stadium.

About £4m of that came from Compass by way of an advance payment against their 10 year catering/events contract , leaving another £12m to be found and the club could only raise about £1m from its own resources with no other commercial lender willing to loan the rest.

So PMG stepped in to rescue the project with a £9m loan and a £2m guarantee for a loan from Principality BS.This was secured by the debentures they hold , particularly over the Premier Club imcome.

PMG did the above as a business deal , not for any love of the club , and have earned interest for doing so (but at a far lower rate than Michael Isaacs was charging on his loans initially ). But without it , and the earlier loans that Steve Davies says about in this thread , there would have been no stadium and no club to support.

Keith

Like BakedAlaska said we have been over all the possible scenario’s a million times so it is now a case of wait and see, although the day PMG walks out the door fully paid up and are no longer part of this club it will be a very welcome one for me.

One of things I have always wondered about PMG's involvement was how did they come to 'lend' us £9m? From my understanding the stadium was funded from several sources, a City Council grant, money from CCFC, sale of Ninian Park and PMG's purchase of the land on which the retail park was built.

We were always told that the whole land plot (on which the retail park and stadium were built) was worth £100m before it was handed over to CCFC.

Yet PMG only paid £35m for the land they acquired i.e. the retail park. Just looking at the 2 sites (the stadium + car park & Retail Park + car park) I would guess the land was split 50/50 even taking into consideration Glamorgan Records Office and the House of Sport.

So why didn't PMG pay us £50m? If they had done then there would be no need for their loan and the stadium would have been built without a residue debt along with cash flow leftover for the fit out.

Personally I think the £9m they 'lent' us was due to us any way, but they did it this way so they got a foothold in the club from which they could milk it for more (which they have since done to quite a considerable affect).

I have no definite evidence, only circumstantial, but having seen their greed over the past 7 years and knowing the way big money always works for self-interest of a privileged few it wouldn't surprise me in the least.

Tony

What happened under the business plan for the new stadium deveopment was that , even after the PMG money they had to pay in exchange for the retail development , the Football Trust grant (there wasn`t a Council one - only the "gifting" of the land) and a Barclays Bank bridging loan (repaid when Ninian Park was sold to Redrow) , there was still a shortfall of about £16m in the funds needed to build the stadium.

About £4m of that came from Compass by way of an advance payment against their 10 year catering/events contract , leaving another £12m to be found and the club could only raise about £1m from its own resources with no other commercial lender willing to loan the rest.

So PMG stepped in to rescue the project with a £9m loan and a £2m guarantee for a loan from Principality BS.This was secured by the debentures they hold , particularly over the Premier Club imcome.

PMG did the above as a business deal , not for any love of the club , and have earned interest for doing so (but at a far lower rate than Michael Isaacs was charging on his loans initially ). But without it , and the earlier loans that Steve Davies says about in this thread , there would have been no stadium and no club to support.

Keith

Thank-you for that but it still doesn't answer the question about the land valuation? Wouldn't I be correct in saying that land which has planning permission for retail development would attract a premium price, especially in the pre-credit crunch days?

As you said there was a shortfall in the amount needed to build the stadium despite the sale of this valuable land. The Hotel land which recently went for £1.8m to PMG was valued at £6m back then (according to Ridsdale), so you have to wonder why that wasn't sold then rather than taking a £9m loan out with PMG?

It is all a little suspicous when you start digging and asking questions.

PS The £4m from Compass, does that mean we don't receive a penny in royalties until the £4m is paid back?

[qTony Blue Williams"]["since62"][q"Tony Blue Williams"]Like BakedAlaska said we have been over all the possible scenario’s a million times so it is now a case of wait and see, although the day PMG walks out the door fully paid up and are no longer part of this club it will be a very welcome one for me.

One of things I have always wondered about PMG's involvement was how did they come to 'lend' us £9m? From my understanding the stadium was funded from several sources, a City Council grant, money from CCFC, sale of Ninian Park and PMG's purchase of the land on which the retail park was built.

We were always told that the whole land plot (on which the retail park and stadium were built) was worth £100m before it was handed over to CCFC.

Yet PMG only paid £35m for the land they acquired i.e. the retail park. Just looking at the 2 sites (the stadium + car park & Retail Park + car park) I would guess the land was split 50/50 even taking into consideration Glamorgan Records Office and the House of Sport.

So why didn't PMG pay us £50m? If they had done then there would be no need for their loan and the stadium would have been built without a residue debt along with cash flow leftover for the fit out.

Personally I think the £9m they 'lent' us was due to us any way, but they did it this way so they got a foothold in the club from which they could milk it for more (which they have since done to quite a considerable affect).

I have no definite evidence, only circumstantial, but having seen their greed over the past 7 years and knowing the way big money always works for self-interest of a privileged few it wouldn't surprise me in the least.


Tony

What happened under the business plan for the new stadium deveopment was that , even after the PMG money they had to pay in exchange for the retail development , the Football Trust grant (there wasn`t a Council one - only the "gifting" of the land) and a Barclays Bank bridging loan (repaid when Ninian Park was sold to Redrow) , there was still a shortfall of about £16m in the funds needed to build the stadium.

About £4m of that came from Compass by way of an advance payment against their 10 year catering/events contract , leaving another £12m to be found and the club could only raise about £1m from its own resources with no other commercial lender willing to loan the rest.

So PMG stepped in to rescue the project with a £9m loan and a £2m guarantee for a loan from Principality BS.This was secured by the debentures they hold , particularly over the Premier Club imcome.

PMG did the above as a business deal , not for any love of the club , and have earned interest for doing so (but at a far lower rate than Michael Isaacs was charging on his loans initially ). But without it , and the earlier loans that Steve Davies says about in this thread , there would have been no stadium and no club to support.

Keith

Thank-you for that but it still doesn't answer the question about the land valuation? Wouldn't I be correct in saying that land which has planning permission for retail development would attract a premium price, especially in the pre-credit crunch days?

As you said there was a shortfall in the amount needed to build the stadium despite the sale of this valuable land. The Hotel land which recently went for £1.8m to PMG was valued at £6m back then (according to Ridsdale), so you have to wonder why that wasn't sold then rather than taking a £9m loan out with PMG?

It is all a little suspicous when you start digging and asking questions.

PS The £4m from Compass, does that mean we don't receive a penny in royalties until the £4m is paid back?


tony

the council got three independant valuations for the lands sold to pmg including the recent 1.8 million part.
Once again though the finger is being pointed at pmg over the retail park and him only paying 35million for the land.
this is the same figure that sam and capitol and regional were going to pay if they had been able to get the venture off the ground.
If pmg had not been able to find tenants and make a success of the retail park then he probably would not have had the money to fund the stadium shortfall.
perhaps if sam had taken a bit of advice at the time about involving pmg alongside him with the retail park the things could have looked a lot rosier for him now.
im sure pmg would have come up with the neccessary business plan to satisfy the council on sams behalf.
im just grateful they were around for those 6 months post sam otherwise we would not be here now enjoying bellamy in a bluebirds shirt.

Like BakedAlaska said we have been over all the possible scenario’s a million times so it is now a case of wait and see, although the day PMG walks out the door fully paid up and are no longer part of this club it will be a very welcome one for me.

One of things I have always wondered about PMG's involvement was how did they come to 'lend' us £9m? From my understanding the stadium was funded from several sources, a City Council grant, money from CCFC, sale of Ninian Park and PMG's purchase of the land on which the retail park was built.

We were always told that the whole land plot (on which the retail park and stadium were built) was worth £100m before it was handed over to CCFC.

Yet PMG only paid £35m for the land they acquired i.e. the retail park. Just looking at the 2 sites (the stadium + car park & Retail Park + car park) I would guess the land was split 50/50 even taking into consideration Glamorgan Records Office and the House of Sport.

So why didn't PMG pay us £50m? If they had done then there would be no need for their loan and the stadium would have been built without a residue debt along with cash flow leftover for the fit out.

Personally I think the £9m they 'lent' us was due to us any way, but they did it this way so they got a foothold in the club from which they could milk it for more (which they have since done to quite a considerable affect).

I have no definite evidence, only circumstantial, but having seen their greed over the past 7 years and knowing the way big money always works for self-interest of a privileged few it wouldn't surprise me in the least.

Tony

What happened under the business plan for the new stadium deveopment was that , even after the PMG money they had to pay in exchange for the retail development , the Football Trust grant (there wasn`t a Council one - only the "gifting" of the land) and a Barclays Bank bridging loan (repaid when Ninian Park was sold to Redrow) , there was still a shortfall of about £16m in the funds needed to build the stadium.

About £4m of that came from Compass by way of an advance payment against their 10 year catering/events contract , leaving another £12m to be found and the club could only raise about £1m from its own resources with no other commercial lender willing to loan the rest.

So PMG stepped in to rescue the project with a £9m loan and a £2m guarantee for a loan from Principality BS.This was secured by the debentures they hold , particularly over the Premier Club imcome.

PMG did the above as a business deal , not for any love of the club , and have earned interest for doing so (but at a far lower rate than Michael Isaacs was charging on his loans initially ). But without it , and the earlier loans that Steve Davies says about in this thread , there would have been no stadium and no club to support.

Keith

Thank-you for that but it still doesn't answer the question about the land valuation? Wouldn't I be correct in saying that land which has planning permission for retail development would attract a premium price, especially in the pre-credit crunch days?

As you said there was a shortfall in the amount needed to build the stadium despite the sale of this valuable land. The Hotel land which recently went for £1.8m to PMG was valued at £6m back then (according to Ridsdale), so you have to wonder why that wasn't sold then rather than taking a £9m loan out with PMG?

It is all a little suspicous when you start digging and asking questions.

PS The £4m from Compass, does that mean we don't receive a penny in royalties until the £4m is paid back?

Tony

Like most things Cardiff City , these things depend on whose point of view you listen to at the club.Which makes the real position about as clear as mud!

I am not sure where the £100m total land value figure came from - there is no reference to it in the Council minutes - maybe it was Ridsdale`s opinion of what it would be worth once fully developed? The amount PMG paid in is however referred to as a full and fair value.Again I have seen no reference to a £6m hotel site value (the £1.8m sale price to PMG is clearly stated to be based on an independent professional valuation obtained by the Council) but that doesn`t mean Ridsdale`s earlier valuation was wrong (perhaps a little optimistic if he was "bigging up" the position at the time)?

I do know that PMG sold off the part of the development occupied by Costco for about £20m last year , so they got a fair portion of their cash back from that.

The Compass contract , according to what Alan Flitcroft told me ,(so again depends entirely on whether we believe him or not) involved such a high up front payment as the club desperately needed the cash. He was of the view that it means that the club will get very little by way of extra commission income as sales levels required to trigger such payments are unlikely to be achieved. A full stadium , particularly in the corporate areas , might change this position.

Keith

I don't know any details, so I cant comment.

Tony, where on earth did you get that £100m figure from ?

If the council handed over £100m instead of £35m there would be hell to play. Also there would have been a queue as long as the M4 to buy it.


Isn't £1000m the value of the FULLY DEVELOPED land ?


Also the £6m for the hotel land seems to hav appeared from nowhere.

Not knocking you, but I've never seen these valuations before.

Paul Guy is the greediest selfish person full of only self gain . He has used cardiff only for his own ends . Lets get rid of him ASAP , how much has he put in compared to what he has taken out ??

We owe him £2m in September , the Malasians are ploughing in money while he sits back and does nothing , its guys like him deserve 5p in the pound admin !

Greedy GIT !!!!

people have short memories where paul guy is concerned
when sam went tits up and ran out of cash paul guy kept the club running by pumping his money in to the club to pay the wages etc for the following 6 months.
without that money there would be no football club
he then put forward the money to fund the shortfall in the stadium costs and before i get the retail pask thrown at me it should be remembered that sam and capitol and regional started the retail park project and pmg only took it over when capitol and regional pulled out.
he is owed money the same as sam and steve borley are owed money so they should all get what they are owed if the malaysians want outright control of the club.
he is also allowing 2.7 million of that debt to be converted into shares at the malaysians discretion.
i would have thought that if we are lucky enough to have reached the premiership this time next year the malaysians will have been more than happy to have paid all the debts and own a premiership club and a new stadium for an outlay of 30 million

Steve, something I must point out here is, where you say Paul Guy put forward money to fund the shortfall in the stadium build makes it sound like it was in fact his money, when in fact it was borrowed from the Principality and the money was passed through PMG and onto the club. I questioned this issue before and was told that the club approached the Principality over borrowing the money directly and was told no and given no reasons whatsoever. But the Principality knew that PMG was borrowing the money for the club and using the clubs income streams to repay the loan.

Paul Guy is the greediest selfish person full of only self gain . He has used cardiff only for his own ends . Lets get rid of him ASAP , how much has he put in compared to what he has taken out ??

We owe him £2m in September , the Malasians are ploughing in money while he sits back and does nothing , its guys like him deserve 5p in the pound admin !

Greedy GIT !!!!

people have short memories where paul guy is concerned
when sam went tits up and ran out of cash paul guy kept the club running by pumping his money in to the club to pay the wages etc for the following 6 months.
without that money there would be no football club
he then put forward the money to fund the shortfall in the stadium costs and before i get the retail pask thrown at me it should be remembered that sam and capitol and regional started the retail park project and pmg only took it over when capitol and regional pulled out.
he is owed money the same as sam and steve borley are owed money so they should all get what they are owed if the malaysians want outright control of the club.
he is also allowing 2.7 million of that debt to be converted into shares at the malaysians discretion.
i would have thought that if we are lucky enough to have reached the premiership this time next year the malaysians will have been more than happy to have paid all the debts and own a premiership club and a new stadium for an outlay of 30 million

Steve, something I must point out here is, where you say Paul Guy put forward money to fund the shortfall in the stadium build makes it sound like it was in fact his money, when in fact it was borrowed from the Principality and the money was passed through PMG and onto the club. I questioned this issue before and was told that the club approached the Principality over borrowing the money directly and was told no and given no reasons whatsoever. But the Principality knew that PMG was borrowing the money for the club and using the clubs income streams to repay the loan.

carl PMG's credit rating would of been far superior to ccfc's, they have a lot of property for collateral, banks wont lend money on worthless ventures, SH's credibility for credit was exhausted

carl PMG's credit rating would of been far superior to ccfc's, they have a lot of property for collateral, banks wont lend money on worthless ventures, SH's credibility for credit was exhausted

Baz the venture was a football stadium that would be worth millions I dont think that would have been an issue.

["carlccfc"]["steve davies"]["NIBluebird"]Paul Guy is the greediest selfish person full of only self gain . He has used cardiff only for his own ends . Lets get rid of him ASAP , how much has he put in compared to what he has taken out ??

We owe him £2m in September , the Malasians are ploughing in money while he sits back and does nothing , its guys like him deserve 5p in the pound admin !

Greedy GIT !!!!



people have short memories where paul guy is concerned
when sam went tits up and ran out of cash paul guy kept the club running by pumping his money in to the club to pay the wages etc for the following 6 months.
without that money there would be no football club
he then put forward the money to fund the shortfall in the stadium costs and before i get the retail pask thrown at me it should be remembered that sam and capitol and regional started the retail park project and pmg only took it over when capitol and regional pulled out.
he is owed money the same as sam and steve borley are owed money so they should all get what they are owed if the malaysians want outright control of the club.
he is also allowing 2.7 million of that debt to be converted into shares at the malaysians discretion.
i would have thought that if we are lucky enough to have reached the premiership this time next year the malaysians will have been more than happy to have paid all the debts and own a premiership club and a new stadium for an outlay of 30 millio

Steve, something I must point out here is, where you say Paul Guy put forward money to fund the shortfall in the stadium build makes it sound like it was in fact his money, when in fact it was borrowed from the Principality and the money was passed through PMG and onto the club. I questioned this issue before and was told that the club approached the Principality over borrowing the money directly and was told no and given no reasons whatsoever. But the Principality knew that PMG was borrowing the money for the club and using the clubs income streams to repay the loan.[/quote]




carl

what keith says above is correct there was a 2 million pound loan from the principality the rest was put up by pmg.
i just cant see wher this anti pmg feelings come from when after all without him no football club and certainly no stadium.
we took his money like we took sams and it has to be paid back.
the loan that michael issacs made to the club at 20% interest now thats f@@king greedy

Tony, where on earth did you get that £100m figure from ?

If the council handed over £100m instead of £35m there would be hell to play. Also there would have been a queue as long as the M4 to buy it.


Isn't £1000m the value of the FULLY DEVELOPED land ?


Also the £6m for the hotel land seems to hav appeared from nowhere.

Not knocking you, but I've never seen these valuations before.

Feckin typing - £100m not £1000m

carl PMG's credit rating would of been far superior to ccfc's, they have a lot of property for collateral, banks wont lend money on worthless ventures, SH's credibility for credit was exhausted

Baz the venture was a football stadium that would be worth millions I dont think that would have been an issue.

Carl

Banks won`t lend against football stadiums as they normally (as in the case of CCFC) can`t be sold on or have no alternative use.Its like trying to get a mortgage on your house when you have told the mortgagee that it can never be sold if they want their money back.

Banks only lend to football clubs at all if they can prove they can afford to repay them out of income streams (like Man Utd , Liverpool and Arsenal) and/or if the loans are backed up by personal and other asset backed guarantees.

CCFC/Sam had virtually a zero credit rating with the banks and no club assets to offer as security.

The only reason Barclays loaned £7m to help finish the new stadium was because the contract for the sale of Ninian Park for a similar amount to Redrow (also a Barclays customer) had already been signed. As soon as Redrow paid up on completion of the transfer of Ninian Park , Barclays got repaid in full.

Keith

Explanation from the riddler's mouth of the deal here: http://www.youtube.com/watch?v=3B8QljVoJj4

Quote: "Carl, PMG's credit rating would of been far superior to ccfc's, they have a lot of property for collateral, banks wont lend money on worthless ventures, SH's credibility for credit was exhausted"


Hmmm, SH's credit was exhausted in the eyes of the Bluebird faithful a long time before he went....

The only reason Barclays loaned £7m to help finish the new stadium was because the contract for the sale of Ninian Park for a similar amount to Redrow (also a Barclays customer) had already been signed. As soon as Redrow paid up on completion of the transfer of Ninian Park , Barclays got repaid in full.

Keithsince62

Posts: 408
Joined: Wed Nov 25, 2009 10:11 am
Private messageE-mail since62

so why lend it through pmg if the bank knew they would be paid via redrow?

The only reason Barclays loaned £7m to help finish the new stadium was because the contract for the sale of Ninian Park for a similar amount to Redrow (also a Barclays customer) had already been signed. As soon as Redrow paid up on completion of the transfer of Ninian Park , Barclays got repaid in full.

Keithsince62

Posts: 408
Joined: Wed Nov 25, 2009 10:11 am
Private messageE-mail since62

so why lend it through pmg if the bank knew they would be paid via redrow?

You are getting two different things mixed up.

The Barclays loan was nothing to do with PMG - it was as well as the PMG loan.

Keith

The only reason Barclays loaned £7m to help finish the new stadium was because the contract for the sale of Ninian Park for a similar amount to Redrow (also a Barclays customer) had already been signed. As soon as Redrow paid up on completion of the transfer of Ninian Park , Barclays got repaid in full.

Keithsince62

Posts: 408
Joined: Wed Nov 25, 2009 10:11 am
Private messageE-mail since62

so why lend it through pmg if the bank knew they would be paid via redrow?

You are getting two different things mixed up.

The Barclays loan was nothing to do with PMG - it was as well as the PMG loan.

Keith

i apologise. i misread your post i thought it was regarding the money lent to ccfc via pmg.