The last para of that article might be the best clue as to why the take over fell apart. They managed to knock all their debts, strongarm the ground for half it's value and used all the case available to win promotion. Typical of the attitude of a club going into administration that they didn't use the 'escape' from debt to renovate the ground and training facilities but spent it on players.
If they get relegated in the next season or two, they could be in serious trouble - Administration again, anyone?
Admin appears very unlikely. They did spend on their training ground and other "infrastructure" in their first year in the PL (the last accounts period published) AND they made a £23 million profit. Parish made it clear in his recent utterances that they felt they were comfortable and didn't need Harris & co unless the price was right. If they can escape relegation for one more season, the even more lucrative PL TV deals come into effect, but they'll get the enhanced parachute payments, anyway. That doesn't sound like they're in danger of admin anytime soon.
This thread is beginning to read like 'All Our Yesterdays', can we go 'Back To The Future' please. We have a wealthy owner whose intention appears to be investing in the Academy, and bringing in talented youngsters, which it seems to me to be a very sensible idea for a Club of our size and history. Apart from a tiny handful of Clubs, the idea of throwing money at it is totally ludicrous, ask Blackburn. Build sound foundations, grow things carefully, manage your Club with financial care, and we will one day reach the promised land in a way that allows us to remain there.
Well said, problem is too many people want it now and aren't prepared to wait.
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gets clubs excited thinking he is gonna take over and then pulls out