I don't know the detail and exact timing of events but iirc I think the problem was that the land at Burnden Park was being sold to build an out of town shopping development - then the government changed the planning legislation to stop / curtail such developments.waynagain wrote:Didn't he also aprove the building of the Reebok based on having the money from the sale of the Burnden Park property, when in actuality the proerty had not been sold? When it was finally sold it was for considerably less than initially quoted and the club then had to 'borrow' more money to build the Reebok (adding to the debt)Sluffy wrote:Selling part of Burnden Park to the Co-op to build the Normid supermarket. Without the sale we may well of gone bust!
A case more of bad luck / timing than anything else.
The net result was that overnight the land became significantly less attractive to developers and therefore worth considerably less than the club had budgeted for.