Seems DA has written off £2m of our £11m debt. On the face of it this seems a ridiculous GWG but it appears it is simply to stop the club following Bury, Bolton, Coventry etc in dropping into insolvency as the £9m debt doesnt make us insolvent from my understanding.
All sorts of theories about the benefits of this and DA's other businesses, but it all seems very complex.
DA certainly shouldn't be praised for this as it is his mismanagement and attitude that has landed us where we are now but long term it is worrying that he may still want his £9m back and nobody will pay that for the club. Do think the long term sustainability of the club will come into question if we don't go up this season. The budget has been slashed massively to counteract the drop in parachute payments this season, god knows what we will do next year.
I suppose after our shite pre-season the only thing we have to commend us is that we are completely debt-free. That must mean something with what is going on at Chesterfield, Bury Bolton, Swindon and many more I expect.
We lost last week 4-1 to FCUM in a friendly with what will probably be our starting XI today. Bernard Morley said the performance was worse than the 8-1 defeat at Blyth last season. I'm at Boston but would absolutely snatch your hand off for a 0-0. I feel we're in for another tough season and could be down here a while.
Just sums us up that he's our captain. Fans couldnt be any further from the club, board, players if we tried. I've lost the majority of my interest in supporting any of them. They don;t represent the club or the town in my eyes anymore.