He appears to me to be absolutely rinsing them

Bought their debt for a knock down price. Now charges them and pays himself ?3.5m a year in interest on the full debt figure meaning he will have made back his initial outlay in double quick time but will still be owed ?70m plus by the club. When he wants out he will presumably just sell that debt to someone else again for a knock down price but probably still a decent sum and with him having already made so much money in interest payments its probably all cream on top of what has already been a nice little earner. in the meantime yes if they fluke it to the prem he's quids in as well but no real incentive for him to pump in big money when he can just keep them ticking over and take out ?3.5m each year!

Now on the sly he has nabbed their training ground for ?1.3m presumably (possibly) with an eye on getting pp for development on it in the future and selling it for big money which might otherwise have been the clubs. Imagine the furore amongst our fans if Delia had used her majority shareholding to make the club sell her the land behind the Jarrold Stand a few years ago so that the money for the development of that land had gone to her rather than the club!

Maybe i'm being over cynical and the above is my NCFC biased spin on it all but if i was a scummer I would not be impressed with what is going on at all!

Posted By: Jim on April 5th 2013 at 11:44:05

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