Gartsides thoughts on the new season Part 2 NEW

10% isn't correct. Think about it, in 10 years he would have had his £100M back and still be owed £100M. He's an owner and benefactor, not Ocean Finance.

I was told it was 10%. If anyone can get hold of the clubs annual accounts I am pretty sure it is mentioned in there.

Perhaps this would be a good question to ask Chairman Phil at the next fans ' meet and greet' session ?

As an exshareholder I get a copy of the Accounts each year. I work in finance so I can generally make sense of Accounts. The interest paid in the last financial year was just over £5million. Debt amounted to just over £100m - so the interest charged was much closer to 5%.

In fact note 17 to the Accounts actually specifies that all debt rates are related to a figure of 5%. Additionally the vast part of the debt is repayable within a year but the lender (presumably Eddie Davies) has indicatd that no such demand will be made in the current (2012) financial year.

So we're safe for a few months at least.

But the interst rate is at or very close to 5% and that is confirmed by the finance charges for interest in the Accounts

rammywhite wrote:As an exshareholder I get a copy of the Accounts each year. I work in finance so I can generally make sense of Accounts. The interest paid in the last financial year was just over £5million. Debt amounted to just over £100m - so the interest charged was much closer to 5%.

In fact note 17 to the Accounts actually specifies that all debt rates are related to a figure of 5%. Additionally the vast part of the debt is repayable within a year but the lender (presumably Eddie Davies) has indicatd that no such demand will be made in the current (2012) financial year.

So we're safe for a few months at least.

But the interst rate is at or very close to 5% and that is confirmed by the finance charges for interest in the Accounts

In that case, I stand corrected. If the fuigures are accurate then Eddie Davies is clearly a decent benefactor who is not shafting the club. Perhaps those who are constantly slagging him off should revise their opinion?