The ?56 million was

?16 million to buy up all the shares (so that's the closest thing to a "valuation" of the company0
?20 million to repay debts that have to be repaid on a change of control
?20 million that Cullum wanted to put into the team

What Cullum wanted to do was just buy ?20 million of newly created shares (similar to what Evans did), giving him control with the ?20 million going into the football budget. I assume that the disagreement over valuation was that Mr & Mrs Wynn-Jones felt that ?20 million wasn't enough to gain control.

So there was disagreement about the method by which Cullum would take control, and disagreement about the amount of money needed.

Posted By: Bryan Salad Surgery, Mar 1, 19:28:48