bollox

?16m loan to be refinanced - cost of refinance say ?500K - long term impact because of interest rate movements say ?1-2m from the club.

?4m loan from the Directors - repayable on demand - these loans are at 0% interest the now ex-directors will want either their money back or commercial interest so lets say ?2m

City rules say you have to have the finance to buy 100% of the shares if you buy more than 29.9% and with the problems with Man U and Birmingham the club would insist on this being in place first to avoid extra debt so if you only want 50.001% then you need to have the balance underwritten commercially say ?2m cost upfront.

And the key point is that you are promising ?20m for players - not ?20m to buy the club and what's left is for players.

Posted By: biffbro, Jul 1, 06:40:54