Why would it not be above board?

Pretty sure it doesn't count as income for PSR so it doesn't affect the losses they are allowed to make (it does mean they have more cash so they don't have to borrow money and incur interest costs). And share capital isn't repayable so they're not putting the club in debt (one of things PSR is intended to protect against)

And didn't our new owners convert about £60m of debt into non-repayable ordinary shares? What's the difference?

Posted By: mr carra, Jan 26, 13:30:52