GMP

I was told last night by somebody representing some genuine overseas investors who looked at buying the club in the autumn that the financial position is far worse than KA is painting, and that any new owner would have to inject a huge amount of extra cash (over and above the apparent position) to avoid the new owner having to appoint a receiver due to insolvency. No reputable or sane buyer is going to pay way over the odds to buy and fund the club. Only money launderers are likely to view it worthwhile paying a big premium, and they are unlikely to get past the EFL FPP test. Don’t shoot the messenger.

Who is Hilary acting for? The club or Anderson? Who has hired her? Ken as shareholder or Ken as sole director? Their interests are very different.

Anderson has a real problem here. As a director, he has a clear fiduciary duty to act in the best interests of the company, not to act in his own best interests. As sold director, it’s an even bigger problem because he cannot stand down due to his conflict of interest, unless he can find an insane person to replace him. I cannot see any way that he can overcome this issue, and Hilary also needs to be very clear about who she is representing. She has acted for the club before, which may prevent her from acting for Anderson now, effectively against the club. What a mess.