Date: Monday, 8 August, 2011, 12:27
FOI 2011.08.08 – £25,000 LOAN TO ROTHERHAM UNITED IN 1986
As an active and empowered citizen with an interest in the costs and activities of those who are elected and paid very well to govern our town on our behalf with our consent, I have lately become acquainted with the following story from “25 Years Ago”, p40 of the “Rotherham Advertiser”, Friday 5 August 2011″, and which I reproduce with their consent below:
August 8, 1986
“Rotherham councillors who sanctioned a controversial £25,000 loan to the town’s football club have no idea what interest will be charged. The embarrassing admission was made at a full meeting of the Council this week, when Conservative councillors demanded more details of the loan made four weeks ago.
“We want to know if the loan is secure, when is the deadline for repayment and what percentage interest we are getting from Rotherham United”, asked Cllr Tony Flynn, leader of the Conservative Group. But Cllr Eric Manns, vice-chairman of the Policy Committee which sanctioned the loan, said the details were locked away with the director of the club, Mr Syd Wood.”
Under the terms of the Freedom of Information Act I require you to provide me with the following information in relation to the above loan that was made with public funds to Rotherham United:
(a) what interest rate was applied to the loan
(b) was the loan secured, and if so, please describe such security
(c) when was the deadline for repayment
(d) was the loan repaid in full and within the agreed term
(e) please supply a copy of the loan agreement
Please supply the above information in electronic format and within the timescale prescribed in the Freedom of Information Act.
Donald H Buxton