Lurchy wrote:Keith, correct me if I'm wrong but don't the accounts show Jason isn't taking any money out but what we owe him in interest just keeps accumulating and it will never be feasible for us to pay him back without him getting it from a sale?
Is that from an official source, or just from Whittingham's lips?
Lies, damn lies, and Jason Whittingham lies.
Regardless, £275k+ on interest every year is unsustainable. 5% of our pre-tax income is going out in interest. In the National League, with reduced income, that figure goes up. Even if, at bare minimum, it forced Whittingham to refinance the loans at a more realistic interest rate it would help.