You're right and this is why most of the manure fans didn't want the Glaziers

They bought it with debt they then loaded onto the club, basically. So, they offer ?loads for the club, and no they don't have ?loads, so let's call that a debt, and let's stick that debt on the club's balance sheet and assume we can service that from future cashflows, predicated on commercial income itself predicated on high-profile success on the pitch.

In a word, "oh."

Posted By: Old Man, Apr 22, 12:54:57