Why didnt he offer Tigers co op a share at the time? In fact why where Tigers co op not beating a path to his door at the time? He wanted 8m for a 20% stake. Now I dont think 8m would get a 5% stake, in fact I dont think it would even get 2%.
Which values the club at £40m, £160m and £400m respectively. Only the first of those seems even marginally reasonable (notwithstanding the fact that a minority shareholding can have no influence and therefore the valuation should be supressed much further than were it for a controlling stake).
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