A "minimum" of ?56 million to take over?

Not really.

?16 million debt - easily refinanced - actual cost ?0
?4 million directors' loans. Since the directors concerned are "life-long Canary fans" who want to "get this great club moving upwards again" it is inconceivable that they would demand repayment of their loans - actual cost ?0
?16 million to buy a controlling interest. Not really. The minimum is actually ?8,000,010.

So with his ?20 million Peter Cullum could assume control of the club and put ?12 million (all but a tenner) into the playing budget. And if the share price hadn't risen last october that figure would be well over ?13 million.

Bite his hand off.

Posted By: Mr Creosote, Jul 1, 00:15:29