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Posted September 21, 2011 11:16 · last edited March 18, 2021 07:33

I for one will be the first to apologise and join the "egg on my face" club if Terry ends up pulling this off. Good luck to him if he can.
There are two sides to this....the emotional football related side(we all want him to pull through) and then there is the cold financial realities.
 
The facts are, he is $200 million in debt and he wants to run a business that loses $1 mill to $2 mill a year, he also has a queue of very angry creditors wanting their money back. The minute it appears he is ringfencing some money to put aside to finance the Nix there will be many many angry people reaching for their phones to call their lawyers to start bancrupcy proceedings. And rightly so because its their money.
 
 I find it extremely, extremely unlikely that anyone on the planet will refinance him. FFS he is only a few days off a very serious bankrupcy hearing....international money financiers don't lend to people like this. IMO Terry has said to the FFA "just give me time until the court hearing.....you owe me at least this" and they have agreed.
 
As sad as it makes me to say this, Terry won't be the sole owner of this club before Xmas....bet my house on it.

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Unknown editor edited March 18, 2021 07:33

I for one will be the first to apologise and join the "egg on my face" club if Terry ends up pulling this off. Good luck to him if he can.

There are two sides to this....the emotional football related side(we all want him to pull through) and then there is the cold financial realities.
 
The facts are, he is $200 million in debt and he wants to run a business that loses $1 mill to $2 mill a year, he also has a queue of very angry creditors wanting their money back. The minute it appears he is ringfencing some money to put aside to finance the Nix there will be many many angry people reaching for their phones to call their lawyers to start bancrupcy proceedings. And rightly so because its their money.
 
 I find it extremely, extremely unlikely that anyone on the planet will refinance him. FFS he is only a few days off a very serious bankrupcy hearing....international money financiers don't lend to people like this. IMO Terry has said to the FFA "just give me time until the court hearing.....you owe me at least this" and they have agreed.
 
As sad as it makes me to say this, Terry won't be the sole owner of this club before Xmas....bet my house on it.