This sort of thing has become common place in football over the last few years, and although it’s an ideal solution to fix a problem of mounting debt, it does leave the club without any assets and means that the club will be paying rent to play in a ground that once owned outright!
I guess a lot depends upon what the long-term plans are from Swann and Cool Silk. The biggest danger is that with the challenges of the global pandemic and subsequent economic squeeze, Cool Silk go into administration and all assets are sold off.
At the moment, for me, I am not quite sure what to make of it. It does leave me with a feeling of unease in the pit of my stomach, and ties the club into the Swann’s and Cool Silk forever, or until they get fed-up and walk away!
I’m no property guru however I have a feeling that the Swann’s have got an incredible amount of assets for very little money.
