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Yep that makes sense to me thanks. Where does the £3.5 million figure come from? I only ask because of the disputes made in terms of what the club owed KA and EDT.
I have mentioned it above already but Anderson secured the £5m he had loaned from Davies to pay off the BM loan, before he paid off the BM loan.
In theory he still owes £5m (plus interest) to Eddie Davies Estate/Trust.
He secured the £5m in general across all of Burnden Leisure's assets which included the club and the hotel.
The clubs Administrator determined that he had more or less £1.6m secured in the club, leaving him hoping that the remaining £3.4m would be secured on the hotel but he had two hurdles to overcome if he were to recover it though, the first is that he stood second in line to PBP's £5.5m head creditor status and the current market value of the hotel was deemed only around the £5m mark - thus him getting nothing back on the £3.4m if things stayed as they were.
As I say he is in hock to the tune of £5m to EDT and it is up to them to attempt recover the money from him if that was their intent.
So if Ken could somehow create a situation where the price to be paid for the hotel could be moved up over the £5.5m mark closer to the £9m mark, then he stood a good chance of getting 'his' money back.
It's another question entirely if he was immoral in creating such a market (if he did - no one can prove he has), or even if he did eventually get some/all of 'his' money back, he repaid the Eddie Davies loan - all this (even though it probably inflames peoples emotions) are incidental to the legality of the money being 'his' in the first place and being rather fortunate that various random folk of suddenly expressed such an interest on a hotel no one was bothered about less than two or so months ago!
Being an obnoxious hardnosed business man is not a crime - and this was the message I've been imparting for the last three years on here - with very little success whilst receiving plenty of abuse for my troubles.
Many, many people have lived in a sort of fantasy football bubble and can't seem to grasp nor understand the reality of running a club without a philanthropist owner willing to pump his own money into it as his pet hobby. When Eddie died suddenly, there was only one way this was going to end, as there never was any billionaires lining up to buy the club as the likes of Wanderlust was utterly convinced there was because his mate down the pub told him so - as evidenced by the utter lack of interest of anyone other than the FV paupers even paying the £25k to look at the books prior to the sale.
I see that folk are already kicking off about the club asking £24 a ticket for the Coventry match! Unfair of me to comment as I no longer go to games but they are still living in the football bubble rather than comprehending that in the real world if a club can't live within its means then sooner or later it will go under.
Have they learned nothing over the last three or four months???
Good to see the first thing the Supporters Trust does after being in hiding since they had a public denouncement of Michael James and Eddie Davies Trust - probably the real saviours of the club from extinction - is to write to complain the ticket prices for this game are too high!
How about them putting their hand in their pocket and donate say £40k towards keeping those costs down for the match until the new owners have bought the club!
They like everyone else seem to live in this unrealistic football bubble and not in the real world of trading at a loss continually WILL put you out of business eventually (unless you have an Eddie Davies to prop you up - and look what happened when he decided he'd had enough).