ENIC

[Bedfordspurs]

Think the deadline was 5th October so just four days to go and no bid yet from Roger Kennedy and Wing-Fai Ng through Firehawk Holdings Limited also seems we have dispensed with Rothschild & Co so looks like we really are not for sale or even looking for an investor, who is going to build the hotel as can be seen from photos on Skyscraper.Com it is still just a hole in the ground.

The club will build it as they always were

 

[SirPercyHotspur]

The club will build it as they always were

There will have to be a change to the statement released by the club when the last financials were published.

The club statement accompanying the results described the hotel as a "long-term project which would be non-recourse to the Club" and part of a larger High Road West redevelopment.

 

[Bedfordspurs]

There will have to be a change to the statement released by the club when the last financials were published.

The club statement accompanying the results described the hotel as a "long-term project which would be non-recourse to the Club" and part of a larger High Road West redevelopment.

Non recourse relates to funding
As in its a debit tied to the asset itself
The club finances it using a development loan which is secured against the asset itself
It also means there is no risk or security given by the club or ENIC

 

[Gutter Boy]

Non recourse relates to funding
As in its a debit tied to the asset itself
The club finances it using a development loan which is secured against the asset itself
It also means there is no risk or security given by the club or ENIC

Tavistock have a seperate company, based in the Bahamas, called TH Properties or something, which they seem to run all this type of stuff through. Obviously its all the same money, but i guess that limits the club's liability?