Ian 77 Redux wrote:
Erm, that is entirely my point. Assuming he is telling the truth in the interview, there is nothing contractual which prevents him loading the club with debt (and I can't see how there could be). Just like there wasn't with Hicks and Gillett. Also, it is noteworthy that they have 'promised' not to load the club with acquisition debt...just like Hicks and Gillett. We'll see when the first lot of accounts come out I suppose.
The problems will arise once it becomes the club's duty to pay off yearly interest payments, and, even then, it all depends on the size of those payments. If the club were paying £5/6m a year max on interest payments, it wouldn't be too much of a problem as we're quite a profitable club if Purslow and co. are to be believed. But when it's £35m+ every year and we're selling players to fund that, something is seriously wrong and that's when the supporters will step in to do their utmost to defend the club.
I hope that they allow us to compete like they said they would, I don't think they're going to be the same as Tom and George, but I also think they'll have a few challenging years ahead of them.
