My same source, who is reasonably connected into the commercial property market in NZ has said that Terry is effectively insolvent and has been for months and he can't quite understand how he has managed to keep his head abve water. He was actually quite impressed by that feat.
I don't actually see how Terry will get out of this without a financial injection from outside his group. If he could sell assets then he would. NZ and Australian lenders won't touch him, which is why he went to WGA in the first place, but it seems pretty clear to me at least that we won't be seeing a dime out of that shyster which unfortunately leaves us very much in the same position that we were in several months ago. I know I'll get accused of being doom and gloom blah blah blah but these are the facts and I for one am not someone who will blindly parrot "in Terry we trust" even though I very much want him to get out of this financial mess.
I reckon " in Terry we trust" brigade have failed to grasp reality. His business is toast. THe WGA thing was a lasp gasp. This is reality. It does not mean we think badly about Terry. All of us wish him all the best, but the truth is some sort of alternative ownership model is now the most likely scenario for the Nix.
There must a be a whole lot of stuff going down behind closed doors. I am fine with that.....its better to do it that way than have more of the media circus we have put up with recently.
There are many highly motivated people who have a strong interest in keeping the Nix going. We should just let them get on with it. Hopefully the out come of their endeavours will be a strong vibrant football club. I am very positive they will succeed.