Grady

[Tom Joad]

If you want to buy a house or car you need money.

If you have no money you have to want to borrow some and then find someone that is prepared to lend you some. It is the hardest market since 2009 to borrow money, and I'm certainly not aware of any banks wanting to lend into the leisure sector at present.

You think Lai and Co have no money?

Clearly they don’t.

They do,  they choose not to spend it.   Their funeral.

How do you know this, Hopalong?

I've worked with Chinese investors on a (failed) takeover bid for a league club last year. Whilst the fund may have assets, and even money in a bank account, each investment has ringfenced funds. Most of the funds are borrowed, and have a definitive repayment date. In my dealings with Chinese consortia buying clubs, I haven't seen any bottomless pits. They are usually more interested in the number of EU passports their investment will gain.

I wouldn't doubt that for an instant although it appears to me,  Lai doesn't need any kind of passport at all.

[Duffers]

If you want to buy a house or car you need money.

If you have no money you have to want to borrow some and then find someone that is prepared to lend you some. It is the hardest market since 2009 to borrow money, and I'm certainly not aware of any banks wanting to lend into the leisure sector at present.

You think Lai and Co have no money?

Clearly they don’t.

They do,  they choose not to spend it.   Their funeral.

How do you know this, Hopalong?

I've worked with Chinese investors on a (failed) takeover bid for a league club last year. Whilst the fund may have assets, and even money in a bank account, each investment has ringfenced funds. Most of the funds are borrowed, and have a definitive repayment date. In my dealings with Chinese consortia buying clubs, I haven't seen any bottomless pits. They are usually more interested in the number of EU passports their investment will gain.

Read it on HITC...