Quote Originally Posted by dml1954 View Post
a). You cant write off interest payments that you are not charging in the first place. b). The club statement appears detailed and clear enough to me. c). Scepticism isnt necessarily healthy.
a)From the trust's review of the 31st May 2017 accounts...

'It should be noted that no interest was paid on the debt due to the club`s owner in the year, all interest accruing (at a stated rate of 7% p.a. on part of the debt) being waived by him and therefore becoming non-payable. This resulted in a saving to the club of approximately £2m in interest charges for the year ended May 31, 2017.'

We have been charged interest on all debt above, I believe, £50m which has then been waived. My guess would be there's a tax write off somewhere in there but I'm not an expert.

b)I never questioned it, I guess now that the amount outstanding is around the £50m mark, no interest will be chargeable going forward. Yay.

c) I guess I've seen JFK too many times.