Vish I presume £20m you assume four per cent interest rates and £500k build cost all from year zero and no equity injection and no naming rights / sponsorship is that not extremely pessimistic ?
I thought FSG were geniuses are sponsorship and are they not capable (John Henry was a banker) of obtaining equity and levered financing at far better rates than four per cent.
The original question was what have they brought to the table on this evidence nothing at all.
You will need to add some capital repayment even if it is a long term debt and interest would be a floating charge meaning will go up in the next few years as it is at it's lowest point now. I am sure the biggest problem is the business case as our cash flow would not allow such an investment especially as this additional investment would stay idle for at least 10 years (the expansion beyond 60k seats will not be needed before that).
I still think that any investment will be possible by doing an IPO but I don't think now is the right time to do it, we need to be successful or at least competing as last season for some years first.
