Manchester City Council

Decision details

Decision details

FC United of Manchester - Loan Repayment Deferral

Decision Maker: Chief Executive

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

The provision of repayment deferral for loan agreements, both principle and interest, which FC United of Manchester have in place with Manchester City Council.

Decision:

The Chief Executive agrees to the deferral of the loan agreement, both in principle and interest, which FC United of Manchester have in place with Manchester City Council to a suggested date of June 2021.

 

Given the significant financial consequences of the pandemic and lack of revenue being generated whilst football has not been played, the Club do not have the ability to make the loan repayments to the Council at this time and therefore a repayment deferral has been requested to ensure that a default situation does not occur.

Publication date: 08/07/2020

Date of decision: 08/07/2020