(that's finance theory, anyway

of course, all that depends on the organisation actually having some net worth - ie over the long term they're gonna make more profits than losses.

Not sure that's actually ever likely for football clubs. But it does mean a shareholding is really just a loan that puts you to the back of the creditors'queue. Which I guess was your point in the first place...)

Posted By: Tricky Hawes, Jan 24, 10:46:56