Where did you get this from?
There's no way the club's worth anything like £200m+. Writing off that loan has to be part of any realistic deal surely.
The key word there is realistic. I don't any more than anyone else on here but I could well believe that Ashley's insistence on recovering his loan is a key reason for there being no takers so far. I've seen nothing from any reliable source that indicates the loan is being written off. When you buy a business you inherit its assets and liabilities and the loan is simply a liability of the company.
Loan could be repayable when club gains promotion?