Nomad
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Post by Nomad on Aug 11, 2021 9:08:35 GMT
A large bridging loan to a well known EFL club is now open for investment.
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registerme
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Post by registerme on Aug 11, 2021 9:24:46 GMT
I like it, but I'm concerned by the lack of security. For instance it would have been trivial to put in place a controlled bank account for receipt of the PLSP but they haven't. Why?
EDIT: I asked a couple of questions and received coherent enough answers that I decided to have a nibble.
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Post by captainconfident on Aug 11, 2021 14:27:21 GMT
I have some confidence in Archover built up over the years and I like football. So why not? But as registerme says, the security is non existent. "Letter of Economic Interest stipulating repayment within 4 days...." is not a recognised legal instrument. "stipulating" is a strange word to use in itself. I like 'guaranteeing' more. I can see a situation where the club says "sorry, just need an extra week - month.... now two.... end of the season....." with no enforceable security at all to make it happen. Am I worrying unduely? |
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Nomad
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Post by Nomad on Aug 11, 2021 14:38:28 GMT
I have some confidence in Archover built up over the years and I like football. So why not? But as registerme says, the security is non existent. "Letter of Economic Interest stipulating repayment within 4 days...." is not a recognised legal instrument. "stipulating" is a strange word to use in itself. I like 'guaranteeing' more. I can see a situation where the club says "sorry, just need an extra week - month.... now two.... end of the season....." with no enforceable security at all to make it happen. Am I worrying unduely? I have two large repayments imminent from B**der St***work, and was initially attracted to the football loan. However, in light of the lack of security, I'm going to pass (or maybe, with my footballing skills, kick it into touch).
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registerme
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Post by registerme on Aug 11, 2021 14:57:02 GMT
I have some confidence in Archover built up over the years and I like football. So why not? But as registerme says, the security is non existent. "Letter of Economic Interest stipulating repayment within 4 days...." is not a recognised legal instrument. "stipulating" is a strange word to use in itself. I like 'guaranteeing' more. I can see a situation where the club says "sorry, just need an extra week - month.... now two.... end of the season....." with no enforceable security at all to make it happen. Am I worrying unduely? I did ask about the "letter of economic interest". According to the person I spoke to "it was drawn up by their (ie Archover's) lawyers and they believe it is legally enforceable".
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Nomad
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Post by Nomad on Aug 14, 2021 13:56:09 GMT
Football Club scored twice in stoppage time to record a 2 - 1 win today.
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agent69
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Post by agent69 on Aug 14, 2021 17:35:05 GMT
Football Club scored twice in stoppage time to record a 2 - 1 win today. If it all goes t*ts up they can always let you rent out one of their parking spaces.
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Post by ts1955 on Aug 16, 2021 16:16:30 GMT
I am comforted by the fact the shareholders will make up the shortfall. This shows commitment. In case of disaster there will be a long line of wealthy investors looking to buy a well known brand.
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Nomad
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Post by Nomad on Aug 23, 2021 11:30:39 GMT
Closed today at £1.1m
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