by Modgull » 21 Jul 2011, 14:29
This is an interesting development. Since Mansells are a reputable constructing contractor who, as far as I am aware, are not currently in trouble like ROK and Connaught were, I can only imagine their insistence on a "project bank" approach (if alcohorse is correct) is because they think that TUFC are not a good financial bet.
It may be that, having won the tender, their Board undertook a risk analysis and decided that the chance of the Club folding during the contract and leaving them without payment was too high, hence the insistence on ringfenced monies put on account.
It is probably no more than a sign of the times.
This is an interesting development. Since Mansells are a reputable constructing contractor who, as far as I am aware, are not currently in trouble like ROK and Connaught were, I can only imagine their insistence on a "project bank" approach (if alcohorse is correct) is because they think that TUFC are not a good financial bet.
It may be that, having won the tender, their Board undertook a risk analysis and decided that the chance of the Club folding during the contract and leaving them without payment was too high, hence the insistence on ringfenced monies put on account.
It is probably no more than a sign of the times.