Football Insider has been told by Kieran Maguire that Leicester City rolled over their bank loan agreement as it would be 'inappropriate' to repay it now.
Kieran Maguire shares view on Leicester City loan deal as official paperwork filed
Leicester City rolled over their repayment of a bank loan as it would be ‘inappropriate’ to repay it following relegation.about Leicester’s loan agreement.last month confirming that their loan agreement with Australian bank Macquarie had been rolled over. The loan was first taken out in 2018 and is understood to be secured against broadcast payments up until July 2025.in February by converting it to equity in a huge show of loyalty to the Midlands side but has decided against completing the repayment of the loan following relegation.
Maguire believes the decision ‘makes a lot of sense’ as Leicester’s hierarchy will be focused on funding the day-to-day running of Leicester following their drop into the Championship.“It makes a lot of sense for Leicester to roll over their arrangement with MacquarieThe owners have put in a lot of money themselves but they are limited, especially in a post Covid-19 environment.
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