As a Barnet resident I'm a little concerned that, given the financial incompetence already demnstrated by our local authority, we are going to be on the hook for $arri€$ in some way. I understand a loan of £30m for stadium works has been agreed, how the hell are we going to get it repaid?
I think it was £20m but it may well be £30m. Given how much Wray is worth and how he likes flashing his cash, I was surprised that a loan was needed but the loan may have been very clever move by Barnet Council.
Don't they own or part own the land or stadium .. so getting a potential charge over a developed stadium (with no risk or project management to Barnet CC) seems like good business sense if they end up with the asset. I'd also expect Barnet CC to have either a business or personal charge on Wray himself to warrant such a sizable loan by a tax payer funded entity.
Wray can take the hit if Allianz decide to not renew their sponsorship but I do wonder how people close to him, family members, business associates, will view Wray continually propping up Sarries at huge expense, possibly to the detriment of those with close family or financial ties