FSG PR plant
- Aug 13, 2008
I thought those letters of credit went heavily to the stadium project?The stadium debt is the inter-company debt (owed to the parent company, UKSV Holdings Company Ltd) which stood at £109.949 million in the last accounts.
The club also has a revolving credit facility of £150 million for "general corporate purposes including working capital and letters of credit" i.e. primarily for player purchases. for a term of five years from September 2015. This secured bank facility is due to mature in September 2020. As of 30 May 2017, £71.709 million had been drawn down against this facility (£73 million, less £1.291million deferred loan costs).