: News Article:
Preds officially buy Del Biaggio's shares - owned 95% by Middle TN residents
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07-22-2010, 10:51 PM
Join Date: Jan 2010
Location: Delta, BC
Originally Posted by
Can someone elaborate more on what Cig meant by "bank financing" being something the are looking to get done?
Is it possible that a potion of the cost of the team was pledged to leipold but has yet to be financed? That would mean the leipold essentialy took an unsecured promissory note for a portion of the purchase price that was to be paid once bank financing was arranged
That would explain how 25 million in Boots cash could translate to 27% of the team. The owners would have put up about 93 million in cash and financed the other 100 million.
My entirely uneducated guess on that would be that maybe the Preds have a loan/bond that is coming due, and they need to refinance a new loan or extension.
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