Not ejected, just trodden on. Been there before, Barnsley away in that old wooden side stand they put us in when we complained that it was raining...
If they get their purchase price out, and 7 years of interest payments @4-5% on their gift, then sell for £1 its win-win. If they sell it for £30m then the club will almost certainly be £30m in debt straight away.
Thought it was bought for a pound imp? So was their purchase price? Are we still 70 ?? Guessing million in debt still?
I thought they paid £30m for HCTL, which would immediately have left a loan to Allamhouse of £30m. They may have paid £1 and agreed to pay off £30m of monies owed to Bartlett, can't remember.
If I won the Lottery I would buy the club and immediately introduce Walk On Girls for each player in the squad. All beer and pies would be free to all and there would be mirrors in all khazis around the stadium.
The amount owed to Allamhouse after 6 months of ownership was £41m. I assume that is the purchase price (don't know why £30m is rolling around my head) and some working capital to help liquidity.
Given the choice I'd buy a Rolls Royce rather than a banger. Yet hundreds of bangers are sold every day. Because they're sold significantly cheaper than Rolls Royces. Why would football clubs be any different? Of course Sunderland are a better prospect than us, no one is disputing that. That doesn't mean they should be easier to sell though. Just that they should be sold for more. It completely baffles me that so many people seem to think that incredibly basic economics doesn't apply to football clubs.
The purchase price was a quid, but they took on the debts, which were to financial institutions and HMRC, rather than Bartlett.
