Didier Lacroix at Le Figaro: “The first state compensation will be paid in mid-January” – Fil Info – Top 14

At the beginning of October, the president of the Occitan club had confided to Figaro his fear that the Stade Toulousain would find itself in suspension of payment at the end of the year. Three months later, the deadline arrived. Thanks to the use of loans and the first compensation from the State expected in mid-January, the club still survives. “70% of the sum will be paid in January. The balance will be this summer, after closing the accounts for the season and thoroughly checking our declaration … In the meantime, at Stade Toulousain, we have called on an additional portion of our PGE (state guaranteed loan) to avoid a default in order to compensate for our operating deficit while waiting for this state aid. I would also point out that this was not a serious formula on my part just to make a shocking article but a very lucid look at the situation; that default is only a cash flow situation: the company does not die when it has no money, it dies when it has no more money. You can be in deficit but still have a bit of cash thanks to loans and debts. But that will not last long if the receipts do not return, if we do not find a financial autonomy ”, worries Didier Lacroix interviewed by Le Figaro.

An interview to be found in full here.

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