Jack Hayworth can better afford generosity

As he was/is worth at least 10 times more than Delia and Michael. People seem to have this weird perception that Smith and Wynn-Jones are loaded. In footballing terms, they are paupers - approx £15-£20m, and at least half of that is tied up in the football club, meaning their actual available cash position is rather less. They could have got far better value for their money by sticking it in the bank than supporting a business which doesn't pay any dividends.

Shandy are obviously the future that has been chosen, but I get a bit antsy when I see people saying "well, they're worth £275m". They're not. They MAY be worth £275m if they sell all their holdings and options at current cash prices, which is a rather different thing.

Rightly or wrongly, Delia and Michael have chosen to ease Shandy into it rather than dump the lot on their lap and run. Whatever they do finally take out of that series of deals is their business and they have no obligation to simply write it all off.

Posted By: Iwan Husarmi, Oct 28, 10:27:59