Very well known Exeweb poster
- Jun 19, 2005
- Hampshire. Heart's in N Devon
I think I read there's a 'charge' over the stadium/training ground by a US company called MSD to the tune of about £20m. It makes any purchase more complex as, if I understand this correctly, any purchaser has to satisfy that charge if they want to complete a purchase that doesn't effectively hand those rights over to the lender. This, of course, is on top of the football debts which have to be paid 100% and the new rules regarding hmrc debt that fbh alerted earlier. MSD seem to have 'invested' in lots of clubs who want to ease cashflow (e.g. Sunderland) - yet doesn't appear interested in owning them. Given that it tends to get involved with clubs with relatively big stature and infrastructure it doesn't see, like they're in this for the football (or fun).It is. He essentially "sold" it to himself for £80m then leased it back to the football club.
It's quite a normal ploy by owners, Any stadium or land its built on or surrounded by is always the bit that's worth something and former owners like to keep a hold of.