Iron Bru › Forums › Blast Furnace › Sharpe and Co Bid › Reply To: Sharpe and Co Bid
So you know what Swann wants and what they bid?
The amounts were on twitter. I can’t remember who leaked them. Sharpe and co offered 1.25m for the club, stadium and training ground but that wasn’t for the surrounding land. Swann wanted 3.5m for the lot.
SST would have seen it on twitter. I’ll have a look to see if I can find it. Not sure why it matters because they aren’t even in the running any more.
Elliot on the radio alluded to the fact they could have paid the asking price but would then not have the funds to keep the club running smoothly, which is understandable. No way in a million years they had the 3.5mil, plus would have had the money to pay the bills owed and pay player and staff wages.
Everything factored in you’re looking at what, around 5mill ?. The loan needs paying he got against the ground, plus the tax bill and then operating costs, wages e.t.c. Pretty costly !
Looking at last year’s accounts, which are 10 months old, the creditors falling due over 1 year were 2.14m. That has risen by the tax not being paid at least, assuming all other creditors are paid up to date and then there any other increases since 30th June 2021, which let’s face it, there’s probably going to have been so whoever buys the club is at a guesstimate taking on a 3m debt that needs servicing. If I was the buyer I would insist on any debt due to coolsilk or any related parties being wiped out but it’s hard to see how much of it that is. 317k definitely is so that would go but then of the roughly 2.7m remaining more could be masked. The thing is he has got what he wanted which was the stadium and land around it. The club is now a hindrance for him as he’s already got what he wanted. That’s why whatever anyone says doesn’t really matter what they do at the end is what their intention was all along. I’m surprised he was able to get a mortgage though on the land with the covenant in place.