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Re: Portsmouth Administration
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SurfaceAgentX2Zero
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Mar 4 12 9:19 AM
Bernard Manning
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Clack, IIRC correctly, the £50 million figure comprised a payment of £20 million to Straumur and £30 million payment of the most pressing debts that were about to get the club liquidated. And it only bought half the club, with various options attached for purchase of the rest. So G&S invested £50 million, but Straumur onlt realised £20 million. No contradiction there.
In fact Duxbury was trying to sell 100% of the club for £50million (plus £130 million debts i.e. £180 million).
In fact, he sold half the club to G&S for £50 million (plus half the remaining £100 million (£130 million - £30 million) debts. So, if I have it correctly, the brand/Premier league license was valued at £200 million. Probably way too high.
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