As has been mentioning elsewhere the ABC loan has finally been paid off by the club, but it hasn’t been announced clearly by what means.

The official site states that the loan has been repaid in full and cancels the option the ABC Corporation had over Loftus Road but according a letter to shareholders it states that another loan of ₤10 million had been taken out at a lower interest with Amulya Property Ltd. Yet there is no mention of this on the official sites release.

The rate isn’t much lower at 8.5% and the company, with links to Flavio Briatore and Amit Bhatia has an option on our ground like ABC at the end of the two years time if it’s not repaid.

Now if it wasn’t obvious by now promotion is certainly the target by then if not this season, which would clear the new outstanding debt to Amulya.

No doubt if we don't reach promotion by the end of the deal then we won't be in such a dangerous position as we could have been last week without our new owners and you'd expect something would be sorted.

The main thing though is that this announcement can finally close the chapter on the dark era at Loftus Road where each week we heard stories of bills not being paid, winding up orders been served and threats of administration.

Now we can just concentrate on whether Iain Dowie will see September at Loftus Road!

This entry was posted on Wednesday 6 August 2008 at 10:12. You can skip to the end and leave a response.