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Thread: Stadium Watch 7

  1. #526
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    Quote Originally Posted by Rimmer View Post
    Club statement regarding the funding package ahead of the stadium handover

    http://www.saintsrlfc.com/news/page/1340
    Is there anybody on here who could translate the statement for me as I'm a total dunce when it comes to corporate finance matters?

    What little I have grasped is that without McManus and his contacts, we wouldn't have a new stadium and we wouldn't have a future. I do hope that when McManus hangs up his chairmany boots, somebody will create something as a lasting testament to his incredible input in turning the club around.

  2. #527
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    Quote Originally Posted by Jamie's Boots View Post
    Is there anybody on here who could translate the statement for me as I'm a total dunce when it comes to corporate finance matters?

    What little I have grasped is that without McManus and his contacts, we wouldn't have a new stadium and we wouldn't have a future. I do hope that when McManus hangs up his chairmany boots, somebody will create something as a lasting testament to his incredible input in turning the club around.
    It basically means the club has raised £6m privately (I'm assuming existing shareholders - McManus and his cashed up pals), and has no bank debt even after paying for the stadium and fitting it out.

    £3m of this is convertible loan stock (usually pays a low interest rate [sometimes even no interest at all] with the holder having an option to convert the loan stock into shares to get an equity "upside") and £3m is a straight loan, albeit from a private individual (read Mike Coleman in full or in part, judging by the press release!)

    The cash is to be used to pay the last instalment on the stadium lease and fit it out, plus a bit more for day to day working capital.

    Basically, it's incredibly good news and means that we have not had to borrow money externally to fund the stadium, it has all come from "friendly" sources, most probably McManus and his hedge fund chums.

    McManus is a St Helens RLFC legend.

  3. #528
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    Quote Originally Posted by Sadfish View Post
    Careful fella the ****heads on here will think you are arse licking or being cocky, A few members of the board have dug deep to get this finished and to such an amazing standard. Mike Coleman mentioned in that press release has come up trumps, he is worth a fortune though, the situation of the whole club now is 100% improved from the moment we where 12 hours from administration and the we voted in Eamonn, he's brough in some amazing people to help us along.

    And thats not asslicking, its simply the truth.

    Mike Coleman is a very good person to have on board from what i've heard. Not only is he very wealthy but he has a wealth of contacts that will no doubt have been tapped into during the course of the stadium development.

    Just out of interest, is Mike Coleman the guy mentioned in Longys book? He tells a story about being at a massage parlour in Singapore I believe courtesy of a very rich Saints fan who was based out there.

    Again though thansk must go to the people at the club who are taking us into an exciting future!

  4. #529
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    This is all really good news financially but we've also got the stadium naming rights which should hopefully bring in a nice chunk of money to the club.

  5. #530
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    I was on the new Island on the link road, they are fitting traffic information signs on the approach to the stadium, Seimens who are doing it said that they are putting up 5 around the stadium, and 1 near the sherdley bridge when council funding is available.

    Also having read what big Mac has said above, can I thank him and his board of directors for all they have done.

  6. #531
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    Is this the most exciting time in the clubs history?

  7. #532
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    Has to be Buddy , it is generating such a buzz on here at least
    Pre-Match drinks?
    try the George Hotel , George St
    St Helens , A real Saints pub

  8. #533
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    The Council need to remove the old signs for the old stadium. Was thinking that the other day when I was driving near to Knowsley Rd. Could be very confusing for away fans next year.

  9. #534
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    Quote Originally Posted by Talk some sense! View Post
    This is all really good news financially but we've also got the stadium naming rights which should hopefully bring in a nice chunk of money to the club.
    Thank god Poundland are interested in Salfords new ground.
    On the Back foot looking for the front one.

  10. #535
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    Quote Originally Posted by Reacher View Post
    The Council need to remove the old signs for the old stadium. Was thinking that the other day when I was driving near to Knowsley Rd. Could be very confusing for away fans next year.
    the new signs are big electronic chappies.

  11. #536
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    Eammon McManus should take his place alongside Harry Cook and be the next inductee to the clubs Hall of Fame.

  12. #537
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    is this the stadium watch thread? i cannot believe my eyes all this posativity has got me rocking, it all feels so alien

  13. #538
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    [IMG][/IMG]

    [IMG][/IMG]

    A couple of photos of the K.C. statue in its new location,taken this morning. Better light today than when I visited yesterday.

  14. #539
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    Superb !!
    Pre-Match drinks?
    try the George Hotel , George St
    St Helens , A real Saints pub

  15. #540
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    Quote Originally Posted by FearTheVee View Post
    It basically means the club has raised £6m privately (I'm assuming existing shareholders - McManus and his cashed up pals), and has no bank debt even after paying for the stadium and fitting it out.

    £3m of this is convertible loan stock (usually pays a low interest rate [sometimes even no interest at all] with the holder having an option to convert the loan stock into shares to get an equity "upside") and £3m is a straight loan, albeit from a private individual (read Mike Coleman in full or in part, judging by the press release!)

    The cash is to be used to pay the last instalment on the stadium lease and fit it out, plus a bit more for day to day working capital.

    Basically, it's incredibly good news and means that we have not had to borrow money externally to fund the stadium, it has all come from "friendly" sources, most probably McManus and his hedge fund chums.

    McManus is a St Helens RLFC legend.
    Cheers - that's a helpful summary. All sounded very positive but that makes it much clearer. One question for clarification if anybody knows - in the last accounts were the club showing actual bank debt but this now been removed - am I reading that correctly?

  16. #541
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    Quote Originally Posted by Windle Lad View Post
    One question for clarification if anybody knows - in the last accounts were the club showing actual bank debt but this now been removed - am I reading that correctly?
    Yeah, the club had Bank debt and now has none (according to Big Mac). In the October 10 accounts the amounts owed to the Bank (overdrafts and loans) were the best part of £1m.

  17. #542
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    [IMG][/IMG]

    [IMG][/IMG]

    A couple of shots of the new ground from today. It is looking good.
    One the workers said there is no chance of the handover going ahead on the planned date.

  18. #543
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    It's got to be said, now that the landscaping is coming on well cladding or no cladding that stadium looks fantastic.

    A real credit to the club and the town.

  19. #544
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    Looks Fantastic !!
    Pre-Match drinks?
    try the George Hotel , George St
    St Helens , A real Saints pub

  20. #545
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    If esaint wants a seconder for his proposal for Mc Manus onto Saints hall of fame i will be the one.

  21. #546
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    So will i .
    Quote Originally Posted by exiled old un View Post
    If esaint wants a seconder for his proposal for Mc Manus onto Saints hall of fame i will be the one.
    roy litherland it's happened i told you it would

  22. #547
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    Whilst the financial package is a remarkable achievement in the current financial climate one or two points do need to be clarified.

    The private loan of £3M is short-term, carries interest at 3% above LIBOR and will be refinanced by bank debt within 3 months.

    The medium term loan facility carries annual interest of between 5% and 8%.

  23. #548
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    Quote Originally Posted by MrSmith View Post

    Whilst the financial package is a remarkable achievement in the current financial climate one or two points do need to be clarified.

    The private loan of £3M is short-term, carries interest at 3% above LIBOR and will be refinanced by bank debt within 3 months.

    The medium term loan facility carries annual interest of between 5% and 8%.
    Hi Sean, what are you up to these days?

    LIBOR plus 3% is very cheap indeed at the moment.

    Between 5% and 8%? Bit of a spread there, anybody would think you didn't know the terms . . . . . . . .

  24. #549
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    Quote Originally Posted by FearTheVee View Post
    Hi Sean, what are you up to these days?
    Eh? Just stating the facts.

    5% yr1 6% yr2 8%yr3
    Last edited by MrSmith; 18th October 2011 at 18:52.

  25. #550
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    Quote Originally Posted by MrSmith View Post
    Eh? Just stating the facts.

    5% yr1 6% yr2 8%yr3
    How do you know this? It wasn't in the release. Are you privy to other information? Is this other information publicly available? Can we see it?

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