But you don't do you?

There are only two ways to take control of the football club:
1. Buy a majority of the existing shares - which in practice means buying most of the Jones/Smith holding. Cullum has specifically said that was not what he was doing "it's not my intention to buy Delia's shares"
2. The company creates sufficient new shares for Cullum to buy and take control. All of the money that Cullum pays for those shares goes straight into the club's coffers to spend how it likes - in this case on the playing budget since that is what Cullum has said. How much of the ?20 million that is depends on how many existing shareholders decide to sell to Cullum. In the circumstance where the outgoing board had accepted the deal I suspect that would be very few. And on what happens to the loans.

Cullum was not proposing that he gets the Club for free.

Posted By: Mr Creosote, Jul 13, 11:50:53