Changing the Board - debate

There is much on WOTB regarding the need to change the Board and bring in new money but a few things need taking into account.

As I read the accounts D. Smith and M Wynn Jones would be entitled to the return of the money invested by them over the period of their tenure (say ?M7 plus) plus related interest (although I note they have waived this in some loans). I assume the loss of the "Delia's Canary Catering" branding which showed a turnover of ?M3 (I can't believe the bogstandard "matchday culinary experience pre Delia would bring in one quarter of this) so a loss of ?M0.8.

Add to this the outstanding debt of ?M19.3 and you can see what a new Board would have to find to take control of the Club.

There is no doubt that the Club may have some valuable assets (Colney but green belt) but Carrow Rd area has enough housing land available to make the sale of the ground for housing less valuable than some other clubs.

Is this how others read the situation?

Posted By: thirdager, Dec 10, 14:42:34