At the moment the club is worth minus £2million. If a new buyer comes in he will have to pay £2million for aclub worth minus £2million. When the club get the money they will pay off the debt to JSF so the club is worth nothing with no debt. So the new buyer ends up paying £2million for nothing. The club needs new players etc so the new owner lends the club £2million as a benign loan. The club is now £2million in debt and the new owner has laid out £4million for the privilege . There must be a lot of prospective owners out there-surely we can get one
On paper the club is minus c £1m. £1.6m owed to JSF and the ground is worth an estimated £700k if I remember correctly, though that valuation was a few years ago. Don’t think there is much significant debt other than Fenty’s loan. We might even have more cash than other debts. So maybe £3m to buyout. Currently trading profitably, so not such a grim prospect. C£2-300k each of the last 3 years. Be a decade before you could recoup the £3m in its entirety, but as long as you can service the debt that’s not a tall order.
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