A "minimum" of ?56 million to take over?
Not really.
?16 million debt - easily refinanced - actual cost ?0
?4 million directors' loans. Since the directors concerned are "life-long Canary fans" who want to "get this great club moving upwards again" it is inconceivable that they would demand repayment of their loans - actual cost ?0
?16 million to buy a controlling interest. Not really. The minimum is actually ?8,000,010.
So with his ?20 million Peter Cullum could assume control of the club and put ?12 million (all but a tenner) into the playing budget. And if the share price hadn't risen last october that figure would be well over ?13 million.
Bite his hand off.
Posted By: Mr Creosote on July 1st 2008 at 00:15:29
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- A "minimum" of ?56 million to take over? (NCFC) - Mr Creosote, Jul 1, 00:15:29
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