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Re: Ambition and reality, two different things...
Posted by: Newtfish
Date: 24/03/2012 08:22
Quite so. The 2011 accounts show no bank borrowings (in fact there was cash in the bank). The loan funding amounted to 1.6 million owed to Leeds CF&AC. I could never understand at the time of the fans forum why GH kept talking about bank borrowings as none were shown in the previous year's accounts. As the good doctor says, the Union limited company only survives by virtue of PC (through his rugby company) agreeing to stand behind it and, in particular, ensure that there are sufficient funds to pay third party creditors on time.

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