Rhodes speaks

Has he donated cash? Or provide an interest free loan? 2 very different things.

 

It is a directors loan. You don't need to register a charge at Companies House for a directors loan! Only if you want to charge the loan against fixed/floating assets as security (as per external bank lending etc.). You don't charge a loan to a company where you own 100% of it...

 

An interest free loan which was better than the Mark Lawn deal who charged 9% interest.

 

And Mark Lawn had every right to charge whatever interest he wanted, just as the club had every right to find an alternative loan provider. As a business twice in administration in five years prior to Lawn joining, I suspect it was a good deal for City and Mark’s cash was at serious risk.

 

That’s fine Eric, I’m just pointing out that when I stated that I was informed last year that Rupp was having to bale us out in November 2018 I was dismissed by Dennis as he said it wasn’t in companies house and that Rupp hadn’t parted with any money either gift or loan.

 

No doubt. And it was crucial to ensure the existence of the club. There was risk involved - but that risk was very much offset by the McBurnie clauses. It wasn't a donation.

 

At the time though there was no guarantee that McBurnie would be sold. There was only Sheffield Utd who were in for him.

 

True, but even leaving that aside, I don't see the Director Loan as being a purely benevolent act. If it hadn't been done, Rupp would almost certainly have lost a huge amount, because we'd inevitably been placed into admin and from there, who know.

 

Love him or loathe him it was Lawns loan that helped turn this club around, boosting the funds available to Parkinson. Let's face it, no one else would have lent them the money and the interest made by Lawn was more than justifiable.

 

I agree. And Lawn doesn't have close to the wealth of Rupp. He was essentially gambling his children's inheritance, at much high levels of risk.

 

All I am saying Dennis is that last summer 2019 I spoke to Ryan Sparks and he told me that Rupp bailed us out. You described this as nonsense due to no mention in companies house. John Dewhirst in his article says that in FY 19 which is the 18/19 season Rupp loaned the club 1.8 million, which to me backs up what Sparks told me. You say I don’t want to believe facts, I say you don’t want to hear anything positive about Rupp but that’s a matter for you.

 

That was the intention, but history didn't pan out that way. Mark was new to the club and with his excited ambition, ploughed the money in to give McCall a stellar budget for promotion. It was blown on Boulding x 2, McLaren, Chris Brandon and others and we tailed away. After McCall's failure, he stayed on (fan love and all that) and he then got a Julian Rhodes balanced budget. McCall failed, even more, the next season before leaving in Feb 2010 and then we had the Taylor/Jackson years. All the time with balanced budgets.

Parky arrived in August 2011 and built his success on that same balanced budget and Mark's million had long since gone.

 

Query for those more ITK than me. What did Dave do before us as a career? I remember him being a director but don’t remember the day job

 

Christ is that what the money was wasted on?

 

Would it have been the Fabian Delph windfall that funded Parkinson transfers in 2012?

 

Whereas there is no risk to Rupp whatsoever !!!!?????

 

what a load of bollocks!! Lawns loan was in 2007 wasn’t it ?

 

The amount of stuff I've heard people say that loans was for is unbelievable. It's like a true urban myth.

Everything from bailing the club out from admin to funding the cup run seasons.

Acquiring Chris Brandon, Graeme Lee, Paul McLaren and Michael (and Rory) Boulding to get to about 8th in the league is a relatively tame truth in comparison.