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Meanwhile, turnover fell from £134m to £115m with the club citing lack of fan attendance during the pandemic and a lower placed finish in the league as factors in that change.ĭownload the LancsLive app for free on iPhone here and Android here. This is being treated as repayable whenever it is demanded but question marks remain over when that will fall due. £102m continues to be owed to the club from Calder Vale Holdings Ltd as part of the agreement to take on the club. Therefore, should they be relegated then the repayment schedule is brought forward - with a significant proportion falling due for payment shortly after the season in which the relegation occurs. However, that agreement is on the basis that the Clarets maintain their Premier League status. The £65m loan is due to be repaid in December 2025, five years after the takeover of the club by ALK Capital, with interest only payments required up to that point. Burnley released their accounts for 2020/21 this week and they highlight a £65m debt which will be recalled early, should the club be relegated from the Premier League. It’s a one-page and multiple page template with clean design, fully responsive and looks stunning on all devices. Indeed the piece says the Foxes took out a loan to cover a Riyad Mahrez transfer instalment from Man City in much the same way Burnley have done with Wood.īut coming on the back of a damaging set of Burnley club accounts it adds to the financial uncertainty around Turf Moor, although chairman Alan Pace has consistently said the financial model at the club is sound. collection of free bootstrap themes resource thriving community of web designers and developers Bootstrap template and themes are designed for any type of corporate, business or agency websites. Macquarie has lent to a host of football clubs over the past few years and an article in the Guardian in 2020 named Wolves, Crystal Palace and Leicester City among others to have taken out loans. READ MORE: Burnley accounts show loan could eat into club's spending power if relegated Discover the next generation of gym and fitness super club Warrington - an entirely unique destination that gives you the power and possibilities to create. The process is not uncommon in football as clubs often believe having money available can provide flexibility in the transfer market, while it is common for transfer fees to be paid in instalments, as is the case with the Wood deal. It means the transfer instalment will instead be paid to Macquarie Bank and there will be an interest attached, although it is not clear what rate that will be at. The second instalment is due in February 2023 and the Clarets have opted to take out a loan to ensure they have the money now, rather than wait 12 months. The striker moved to St James' Park in January after Newcastle activated a £25m release clause in his contract. Burnley have taken out a £12.5million loan from Australian firm Macquarie Bank on a transfer instalment due from Newcastle United for the Chris Wood deal.
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