As someone who was confident all would be sorted for us and turned out to be wrong, this reads pretty seriously.
What's interesting is that there seems to have been a change in tone from Chiefs with their press release, from essentially Baxter saying that Clubs need to have responsibility for their finances and if they fail then tough (not his words, but his gist) to COVID hit them hard, there wasn't enough (financial) support and even with furlough scheme, there was a large outlay without income. This
forced them to have to take Government loans, which they're now struggling to repay and so need to sell an otherwise income-generating asset to pay off the loan.
The point is also made that had they known about COVID, they wouldn't have spent the CVC money on the Hotel. Was the stand expansion part of the same project (is the hotel under the stand that was increased?)
For a long time, they've been heralded as the only profitable Club in the Premiership (Although it still remains to be seen whether the SWComms sponsorship was at a broadly similar rate as the rest of the Prem or was an inflated figure) needs/wants to forgo an income stream to pay off a Government loan is a worrying signal.
I'm not sure what the terms were for the Government loans - but looking at the following link they were 10 year loans at 2% interest, with an initial 2 year payment holiday and the loan repayable over the following 8 years:
https://www.sportengland.org/news/more-details-given-sport-winter-survival-package