I HATE this quote!
I am right in saying that the most of the debt Ashley inherited was in relation to the level seven expansion, aren't I?! It was secured against 40K season ticket sales up until 2015 but needed to be paid within 30 days IF a sale of the Club went through!
Thats right, the loan was secured against the stadium expansion and extra ST sales. Iirc that loan had to be paid up in full when the club was sold which is why Ashley had to fork out the extra money. This should have been highlighted in due diligence for Ashley to consider. If due diligence was ever carried out in full of course.
Why Ashley couldn't remortgage I dunno and why he refused to use the overdraft facility Barclays said he could have I dont know either, he basically strangled NUFC of cash flow.
Cheers mate!
That £100m figure is used by all of the media and those lot down the road to declare how Ashley saved us as we were going to do a Leeds etc - utter shite!