FootieFan86
Well-Known Member
- Joined
- 7 Jul 2015
- Messages
- 202
- Team supported
- Liverpool FC
The loans H&G took out were with 2 banks,RBS & Wachovia totalling £300 million which were taken out before the credit crunch/banking crises for the Stanley Park new stadium.The loans were RBS/237 million Wachovia/63 million,H&G had refinanced the loan agreement with RBS with a clause that if any installment of the loan was late RBS had the power to take over the club and sell it with Wachovia backing that plan if it ever came to light.Both banks got the money back when FSG bought the club for the price of the loan agreement £300 million and if anything RBS/wachovia made a profit from the loans with the high interest rates the 2 cowboys agreed too.i hate them with a passion, and contrary to their own belief so do a lot of other team's fans. the reality sadly is that we all own a part of them as well as they should have gone bankrupt before the royal bank of scotland came in to save them and sell them to their current american owners,a bank that we the british public rescued. the club itself would not exist were it not for everton so for that i apologise.