Reply To: Aidam McCartney’s piece

Iron Bru Forums Blast Furnace Aidam McCartney’s piece Reply To: Aidam McCartney’s piece

Registered On: February 8, 2016
Topics: 0

Out of all the articles from different “experts” released in recent days this one appears the most concise and informative.
Different people will read it and form different views.
My take on it is that Hilton doesn’t and never had the funds to complete the sale, he changed the goalposts and came up with stalling tactics as the deadline approached.
I suspect his plan from the beginning was to raise the funds via his rushed and ill thought out 1899 scheme that failed spectacularly, I’m baffled that he thought any other outcome was a possibility.

He claims Swann must wait for the “legals”to be completed and they may take 3 to 6 months, 6 months have already lapsed since he claimed he’d bought the club, why haven’t the “legals” already been completed?
I suspect it’s just another stalling tactic.
As for his claim of moving into a new stadium in another 22 months, that is never going to happen and anybody who believes that is as daft as the man who made the claim.
No planning permission has even been applied for never mind granted on land Hilton doesn’t and I very much doubt ever will own.

I’m not sure if he does or doesn’t have the money, but if you read the article fully, Swann wants the 1.5 million pounds before dealing with the legal issues highlighted in the article. No one in the right mind would ever put that money forward.

To put that into context it’s like you paying half of the house you’re buying off, before even owning it. It just wouldn’t happen.

I think you’ve got a bit carried away there.

Swann wants £1.5M upfront (on completion) so that he can satisfy the charge on the freehold. The balance can be on the drip.

I potentially am, as I am not sure on property law. How would Hilton be able to purchase the property without paying the full amount upon completion? My assumption was if Hilton doesn’t have the 3 mil cash, he would have to take out a loan/mortgage for the rest to complete?