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.[/QUOTE]
[QUOTE=james dean today]If you talk to people in the property industry the general view is that Terry does not have a business to restructure...i.e. he is close to insolvency.
[QUOTE=james dean today]If you talk to people in the property industry the general view is that Terry does not have a business to restructure...i.e. he is close to insolvency.
So two months ago he was insolvent but today he is only "close to insolvency". Well at least he seems to be moving in the right direction!
Is JD's "source" related to the source who told Michael Brown from the Herald that Terry was "gone for all money" and would run out of wages money in two weeks... four weeks ago? Gossip is not reliable, especially about such a polarising figure as Our Greek Leader. Many people in the property business no doubt want Terry to go bust.
2. Agree, Terry has few friends in the property world. This guy however has no axe to grind, and very little interest in the Phoenix. Purely talking from a business perspective and market knowledge of Terry's business problems.
3. Until Terry ha sshown that he/ the club can fund a full squad of players and staff then I think we're still in a holding pattern.
Nothing really more to add on this topic right now so let's hope for some good signings and some good news