Depends what his motives are

He is purchasing the debt rather than clearing it. If he's a complete money grabbing c**t he could actually insist the club pays it all back as originally required and asset strip.

Unfortunately however he may well be writing it all off and bankrolling an attempt at promotion in order to recoup his investment.

All in all not good news if it happens. just goes to show there is NO POINT WHATSOEVER IN BEING PRUDENT when because some mug always comes along to bail you out!

Also shows that potential investors are out there if you actively seek them rather than waiting for them to approach you!

Posted By: Jim, Oct 31, 10:24:51