Well of course you do, or are supposed too and if you don't it would be your guarantor or the assets you secured the loan on would be ceased and sold off.
I still can't understand how Holdsworth got a loan from BluMarble to his company Sports Shield secured on the assets of BWFC?
I can only imagine he bought the club for £1, THEN took out the loan, then entered sold 50% of the club to Anderson.
How can it be any other way?
But how can the Football League sanction that? What happens if they let Holdsworth buy the club for a £1, take the loan out - then Anderson says sorry he's changed his mind? Holdsworth couldn't finance the club on his own so how could they sanction such a possible sequence of events?
Anyway, let us say that is the case until anyone can give us a better answer.
If so then Sports Shield should be making the repayments, right?
But clearly they are not.
The deal we were told when the club was taken over from Davies was that Holdsworth would put £5 million in and Anderson £2.5 million (iirc).
The Football League sanctioned the takeover, so they thought the £7.5 million committed to was sufficient to last until next season.
Since the sale of Clough yesterday, the usual suspects (people linked directly to the ST and LoV) have been making noises that Anderson has made the sale to save himself putting his money into the club and inferred yet again, that he is not to be trusted.
But what if he has been putting money into the club - the wages HAVE been paid every month to date - so someone has been funding them - and the financial ducks are all in place to meet the commitments that Anderson has given to the FL - after all the FL seem to have a good relationship with him - they basically told the ST to fuck off and keep their nose out because they were the professionals and not a bunch of random amateurs who happened to support the same team, and that they already had their eye on the financial aspects of the club and were making sure everything was being complied with. Furthermore they let us wheel and deal for players in the transfer window yesterday, so they must have been satisfied that Anderson (Holdsworth has already admitted he can't contribute to the ongoing running of the club) could honour any financial conditions they have set him at least until the end of the season.
So why cash in on Clough now - and take comparative to other recent transfers of similar type players in terms of age, experience and potential - a relatively modest sum for him?
Seems to me the most obvious explanation is to use it in someway to get out of this unfathomable deal Holdsworth/Sports Shield as entered into with BluMarble and which is not being paid and is secured on BWFC assets.
Seems a reasonable thing to do, doesn't it?
If so I don't get this 'well without Holdsworth stepping in there would be no club'. Christ anyone could have bought the club for a £1 and take out a £5 million loan secured on the clubs assets AND not pay any loan repayments back!!!
I don't 'get' why Holdsworth (with no money remember) wanted to buy the club so badly. I don't 'get' how he managed to get a loan secured to Sports Shield secured on BWFC assets that he only half owned, without Andersons agreement of how SS would settle the debt. And I don't 'get' how Holdsworth is seen as the 'goodie' in all of this and Anderson the 'baddie' by the usual suspects!?
All in all the Holdsworth involvement in all of this seems to have been a car crash with the only redeeming bit of it being the introduction of Anderson to the club!
What do the events seem like to you?