Saracens: Barnet Council considered ending £22.9m stadium redevelopment loan.
Barnet Council “considered” terminating its £22.9m loan to redevelop Saracens’ stadium after the club’s relegation but instead have frozen further payments.
Saracens will be relegated from the Premiership in June for persistently breaching salary cap rules.
The council put a “temporary stop” on the loan – to fund a new West Stand at Allianz Park – last month.
It will now demand to see a “robust revised business plan” if Saracens are to access any more of the loan.
Stadium owners Saracens Copthall LLP (SCLLP) have already accessed £3.2m of the loan.
Building work has not yet begun on the West Stand and the report said Premiership champions Saracens and SCLLP are “taking stock” of their plans, which is expected to take until the end of this month.
Let them re-group and rise or fall on their own efforts. I find the behaviour of those coming to kick a downed man unacceptable.
