Daniel Levy has made another announcement in order to keep the fans in the loop. A 30-year tranche probably means a lot to some financial wizards but to me, I see another potential obstacle to normal football practice, later down the line.
What is interesting here is that Levy has seized another rearranging deckchair on the Titanic moment in order to remind everyone how stabilizing the effect on matters ENIC have. As if ENIC didn’t create this situation in the first instance, by underinsuring and overexposing the club in the first place.
An alternate view is that had the money spent on capital assets has instead been spent on players – then a debt of such size would never have been run-up. That would have been ‘doing a Leeds’ territory. How many players would ENIC have to have bought, in order to have spent £1.4 or £1.5 billion?
I don’t care what the money was spent on, we’re up to ears in the debt, with no stadium sponsors, no manager (for some two months or so, now), and still no sign of being in the running for winning anything.
At least our credit rating is sky high, eh?
