As I understand it the loan will become a grant in the summer, and won’t need to be paid back. Most clubs didn’t take it due to the conditions attached to it.
As I understand it, the loan still has to be paid back but the transfer restrictions don’t apply after the first year – that was how I interpreted Simon Elliott’s explanation on Humberside.
Be interesting to see in the next accounts how much the loan is costing us in terms of monthly repayments.
