That was explained at the shareholders meeting...

McNally's slides showed 35k as the magic number for a self-sustaing football club in the Prem and without a Mittal or Fayed to bail them out. Had loads of backing analysis allied with the debt pay down timeline, also did very preliminary work on how it would look but weren't going to think about detail until a third year guaranteed. I understood that since then it's been put more on the back burner because of continuing recession and the new TV deal change the economics.

Posted By: Tressells Broadbrush, Feb 1, 17:11:50