Loan to Saracens by.... Barnet Council

Anything and everything related to Barnet FC
barnetpete
Posts: 2295
Joined: 24 Jan 2011, 13:37

Loan to Saracens by.... Barnet Council

Post: # 249575Post barnetpete »

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.
Please consider donating, to help disadvantaged Children & Young People in Barnet, https://www.youngbarnetfoundation.org.uk/donate,
dawat
Posts: 2989
Joined: 15 Jul 2012, 17:06

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

Post: # 249588Post dawat »

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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rudebwoyben
Posts: 8940
Joined: 22 Jan 2011, 18:53
Location: Seven Sisters, London N15

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

Post: # 249592Post rudebwoyben »

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:
For all of 5 years!
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Mikel Bee
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Joined: 20 Jan 2011, 02:23

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

Post: # 249593Post Mikel Bee »

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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NorthFinchleyBee
Posts: 245
Joined: 17 Jan 2017, 13:53

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

Post: # 249632Post NorthFinchleyBee »

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.
GenkiDev
Posts: 754
Joined: 10 May 2015, 13:16

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

Post: # 249643Post GenkiDev »

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:
Norfolkbee
Posts: 4394
Joined: 23 Jan 2011, 09:43

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

Post: # 249807Post Norfolkbee »

This is why I'm glad I don't live in the London Borough of Bar net
http://lbbspending.blogspot.com/2018/06/NotABank.html
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X-Bumble
Posts: 1272
Joined: 04 Feb 2015, 09:14
Location: Whitby, North Yorkshire

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

Post: # 260762Post X-Bumble »

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.
Norfolk & Chance
Posts: 3239
Joined: 03 Jun 2017, 09:22

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

Post: # 260763Post Norfolk & Chance »

Just let it go.......

Why try and set people off again!!
becbee
Posts: 11807
Joined: 22 Jan 2011, 11:43

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

Post: # 260764Post becbee »

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.
hoppy
Posts: 5027
Joined: 15 Mar 2012, 09:43

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

Post: # 260767Post hoppy »

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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ninestein
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Joined: 03 Aug 2011, 20:00

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

Post: # 260768Post ninestein »

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.
Barnet showing all the flair of Rupert-the-Bears trousers, but lots more style!
Norfolk & Chance
Posts: 3239
Joined: 03 Jun 2017, 09:22

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

Post: # 260769Post Norfolk & Chance »

Ok, fair enough, let's gnash our teeth and vent our spleens for a little longer!!
ETBee
Posts: 2966
Joined: 16 Mar 2013, 10:16

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

Post: # 260770Post ETBee »

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......
hoppy
Posts: 5027
Joined: 15 Mar 2012, 09:43

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

Post: # 260771Post hoppy »

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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