Loan to Saracens by.... Barnet Council

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Loan to Saracens by.... Barnet Council

Postby barnetpete » 08 Jun 2018, 11:38

I'm informed that Barnet Council are loaning money to Saracens towards their new stand. I don't know the nature of the deal/rates etc, but as a top line headline it seems wrong on so many levels.
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Re: Loan to Saracens by.... Barnet Council

Postby dawat » 08 Jun 2018, 14:34

barnetpete wrote:I'm informed that Barnet Council are loaning money to Saracens towards their new stand. I don't know the nature of the deal/rates etc, but as a top line headline it seems wrong on so many levels.


If true, I am sure that Barnet Council would have been only too pleased to do the same for us if we had asked! Everyone knows how heartbroken the council was when Barnet FC decided to move to Harrow despite all the pleas of Barnet Council to stay and opt for one of the many alternative new ground sites the council offered to the club. Still it's nice to see that Barnet Council are not prepared to let another of our borough's long standing sports club's slip through their totally supportive fingers. Barnet Council and sport go together like fish and jam. Anyway must pop off now as I am overdue for some more of my medication and a nap!
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Re: Loan to Saracens by.... Barnet Council

Postby rudebwoyben » 08 Jun 2018, 14:46

dawat wrote:
barnetpete wrote:I'm informed that Barnet Council are loaning money to Saracens towards their new stand. I don't know the nature of the deal/rates etc, but as a top line headline it seems wrong on so many levels.


If true, I am sure that Barnet Council would have been only too pleased to do the same for us if we had asked! Everyone knows how heartbroken the council was when Barnet FC decided to move to Harrow despite all the pleas of Barnet Council to stay and opt for one of the many alternative new ground sites the council offered to the club. Still it's nice to see that Barnet Council are not prepared to let another of our borough's long standing sports club's slip through their totally supportive fingers. Barnet Council and sport go together like fish and jam. Anyway must pop off now as I am overdue for some more of my medication and a nap!


:laugh: :laugh:
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Re: Loan to Saracens by.... Barnet Council

Postby Mikel Bee » 08 Jun 2018, 15:01

Wonderful, they've found money to splash on Saracens but what about collecting the bins every once in a while? 3 weeks now and no collection. Rubbish is building up on the pavements in this corner of Barnet. [/Moany local resident]
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Re: Loan to Saracens by.... Barnet Council

Postby NorthFinchleyBee » 10 Jun 2018, 06:51

Mikel Bee wrote:Wonderful, they've found money to splash on Saracens but what about collecting the bins every once in a while? 3 weeks now and no collection. Rubbish is building up on the pavements in this corner of Barnet. [/Moany local resident]


Yep, and weeds growing throwing pavements everywhere I look. I work in Camden and the contrast is shocking.
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Re: Loan to Saracens by.... Barnet Council

Postby GenkiDev » 10 Jun 2018, 17:31

NorthFinchleyBee wrote:
Mikel Bee wrote:Wonderful, they've found money to splash on Saracens but what about collecting the bins every once in a while? 3 weeks now and no collection. Rubbish is building up on the pavements in this corner of Barnet. [/Moany local resident]


Yep, and weeds growing throwing pavements everywhere I look. I work in Camden and the contrast is shocking.



Bloody youths! :whistle:
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Re: Loan to Saracens by.... Barnet Council

Postby X-Bumble » 16 Nov 2018, 09:44

So Barnet Council are trying to push through a 30 Million pound loan to Saracens.
See the document here: http://barnet.moderngov.co.uk/documents ... eement.pdf
I have read that Saracens are already over £40 million in debt.... and the council want to do this.

Bear in mind this is Copthall Stadium we are talking about. The very same stadium that the council refused us access to.

To all those who still persist on the belief that there is a place for us back in Barnet - surely this is the final piece of evidence you need.
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Re: Loan to Saracens by.... Barnet Council

Postby Norfolk & Chance » 16 Nov 2018, 10:39

Just let it go.......

Why try and set people off again!!
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Re: Loan to Saracens by.... Barnet Council

Postby becbee » 16 Nov 2018, 11:38

XBumble - if you read the document, you'll see that in fact it's a good deal for Barnet Council. They are hardly doing Saracens any favours.
Barnet Council estimate they'll pay 2.93% p.a. interest to borrow the money then are charging Saracens a fixed rate of 6% - ie net profit 3.1% p.a. Also the loan is fully guaranteed.
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Re: Loan to Saracens by.... Barnet Council

Postby hoppy » 16 Nov 2018, 11:45

becbee wrote:XBumble - if you read the document, you'll see that in fact it's a good deal for Barnet Council. They are hardly doing Saracens any favours.
Barnet Council estimate they'll pay 2.93% p.a. interest to borrow the money then are charging Saracens a fixed rate of 6% - ie net profit 3.1% p.a. Also the loan is fully guaranteed.

But should Barnet Council be operating as a bank?
Surely there are so many other things that they should be spending council taxpayers on.
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Re: Loan to Saracens by.... Barnet Council

Postby ninestein » 16 Nov 2018, 12:12

Regardless of whether the council should be doing it, it just goes to show that they value Saracens as a community asset far more than they ever valued us, and we had been there 100 years... Saracens only rocked up into town a few years ago.
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Re: Loan to Saracens by.... Barnet Council

Postby Norfolk & Chance » 16 Nov 2018, 12:16

Ok, fair enough, let's gnash our teeth and vent our spleens for a little longer!!
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Re: Loan to Saracens by.... Barnet Council

Postby ETBee » 16 Nov 2018, 12:25

Saracens is badly run financially and will eventually go bust and the Council will lose it's money. The good thing is that there will be a nice stadium ready for the Bees to move into......
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Re: Loan to Saracens by.... Barnet Council

Postby hoppy » 16 Nov 2018, 12:27

ETBee wrote:Saracens is badly run financially and will eventually go bust and the Council will lose it's money. The good thing is that there will be a nice stadium ready for the Bees to move into......

...unless the local residents object!!
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Re: Loan to Saracens by.... Barnet Council

Postby Mikel Bee » 16 Nov 2018, 13:06

Looks like we aren't the only ones with matchday issues.

Saracens used to sell out regularly but despite winning the league have seen large declines in attendances this season. A seat at Allianz Park now costs £70(!) and supporters complaining about complete lack of atmosphere.

http://m.rugbynetwork.net/boards/read/s ... 779,page=1
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