JoBeck
04 Jan 2003, 05:56 PM
The Leicester Mercury reports that Leicester City's total debts have been calculated--and they stand at an incredible 74 million pounds. :eek:
http://www.thebluearmy.co.uk
Lineker's consortium is still a little short of its goal of 5 million--but I have a feeling this news break means that it will take a while longer for the club to get out of administration and repay its debts.
CrewDust
06 Jan 2003, 11:06 PM
That's a lot of money. Attendence has been good this year at least.
JoBeck
07 Jan 2003, 10:47 AM
Well good news, it seems...
Just a few days after that story was released, joint administrator Nick Dargan released an official statement which said that all parties agreed to a repayment plan with the stadium loan creditors. He also said that there would be a meeting at the Walkers Stadium on Jan 15 between the administrators, Lineker's consortium, parties representing all other creditors, and any season ticket holders that would like to attend. Dargan said that it appears as though all sides will agree to the repayment deal that they had been working on, and if it is accepted, then the club can get taken out of administration 28 days later.
Looks like Lineker's consortium can take over the club within two months if everything works out. I'd imagine, however, that they'd really need Premiership revenues to help repay those massive debts.