Paddy wrote:theHotHead wrote:Paddy wrote:theHotHead wrote:Paddy wrote:
he did not pay off the debt. he provided the money to cover the bonds.
we redeemed the bonds thanks to kroenke's loan. we now owe the money to KSE instead of external bondholders.
in other words he restructured the debt. he did not pay anything off. we now have to pay him back with an unspecified interest rate.
in fact, we had to pay a penalty for repaying early as it was due to run until 2031.
dont get into a debate you have no clue about.
Paid off the debt/restructured the debt, who gives a shit, he still paid £140m doing it!
https://arseblog.news/2020/07/report-kroenke-restructures-arsenal-debt-to-ease-short-term-financial-pressure/
I will make you look silly every day of the week.
that article literally says we still have the pay the debt off as all he did was borrow money to restructure it and owe the money to himself you absolute moron
I see you missed the bit where he paid £140m for the privilege of restructuring the debt. Yes, we still have to pay him back but he took his money and paid off other lenders, to give us improved rates. I guess reading comprehension is not your strong point - But I am the moron ??
we restructured by taking a loan from KSE. the debt is still there. it hasnt gone anywhere, its just been restructured therefore it is still against arsenal football club. in fact, we paid a 40m penalty for repaying early.
if the debt had gone we could all give stan a round of applause for paying it off. but it hasnt. its still there.
i know its hard to get your little head around but it'll make sense eventually. read over it a few times.
Are you blind, stupid or blind AND stupid ?!!! Taken from the link that I posted:
From what the AST can tell, Kroenke has decided to pay off the outstanding money. In doing so before the terms of the original agreement (2029 and 2031) he’ll also have to cover an additional £40 million penalty.
So who is this "we" that paid a £40m penalty ? The article clearly states "he will have to cover an additional £40m penalty".
Now lets move onto your ability to comprehend. You took out a payday loan of £1000 at a high interest rate, I paid off that £1000 for you and said you can pay me back at a much lower interest rate, which means you get more money back in your pocket and I eventually get paid the money I lent you - plus some interest. That is the debt restructuring that Kroenke did, he still had to shell out £140m of his own money to pay off the debtors plus a £40M penalty. Now, he may pass the £40m penalty on to Arsenal but the article doesn't say that, but either way he has had to fork out £180m of his money to help ease Arsenal's debt.
I won't be surprised if you still don't understand this, but hope springs eternal ......