Question: Takeover/Debt

[Deadly_D'Jaffo]

You might have to forgive my (lack of) financial acumen here;

I know the first order of business with regards to the investment was to wipe the debt. How would we know if that has been done?

 

[UnitedBlade]

You might have to forgive my (lack of) financial acumen here;

I know the first order of business with regards to the investment was to wipe the debt. How would we know if that has been done?

Last year's accounts won't appear until December time although they only run to May 2013. However, I would expect a full statement on what happened in August in notes somewhere. There will also be an AGM in December and undoubtedly such questions will be asked.

We do know Santander no longer have a charge on SUFC, so almost certainly we have no external debt.

The Prince said no debt was a condition, so I think we have to take that at face value.

I would think any remaining debts to McCabe companies must now be in SU plc. This was about £20m last year. Of course this is where assets like the stadium reside. The Prince has no stake in SU plc only Blades Leisure and SUFC.

 

[judge]

On the official site under section debt click on debt wiping and then go to current debt wiping its all there