I think all the local media have been poor on this

there's some pretty basic things they haven't bothered to find out - Archant just parrot the titbits that Cullum has given them without asking any question, and Waghorn witters on and on about Birmingham City.

No-one actually knows what the offer was: I think he was planning to take over with the creation of new shares - as Terry Hall did at Ipswich - in which case it merits very serious consideration. Waghorn seems to think it was via Delia giving him her shares and him them injecting ?20m into the club some other way(presumably a loan?) in which case they were right to tell him to f**k off.

Then there is the business of the directors' loans. ?2 million from Shandy and ?2m from who?

And the securitisation loan. Why are the club so adamant that it would have to be repaid rather than renegotiated? Is it because in addition to the normal security there are also personal guarantees from some of the directors attaching? No-one has asked.

I have to say that throughout the whole business I don't think I have seen one article that I would class as serious reporting.

Posted By: Mr Creosote, Jul 14, 00:21:20