Hmmmm ... True. Oh well: it's a mystery!

If it is loans it can't go on the playing budget so I imagine it won't be

£71m capital spend spread over five years strongly suggests ground development will be a big part. Maybe South & East plus training ground. A lot of take in

Just returned to Stacey's slide on Twitter. "Initial equity followed by capital injections" - so I guess not through shares, but it doesn't seem to say whether that will be capital loans or what. So I guess they will do it by putting debt on the club that they then make money off through charging interest. That would then tie in with "up to 90% of economic value"?

Just coming in on this so apologies - would they upgrade any stands at plough lane as part of the deal?

They arent issuing shares, DT always keep control.

Yeah i think we get to retain the ground plus 10% of the new com value in five year's time. Don't know what the 10% would be worth vs now. Plus we get 17p dividend spread over those five years

Economic value

They can't Trebor, going below 50% is another restricted action that we definitely haven't voted for. We really need a definition of what this "football value" (or whetever the phrase is) means. They'll own 90% of that

Amounts to the same thing as there’s no way we’d be able to run things going forwards.

Up to 90%, OI? That's how I read it, though I haven't been paying a whole load of attention. Each time they put in an annual sum they will do it by issuing shares to themselves?

Surely it would be 34% of the club is up for sale and so is the "football value"

I suspect the exit plan will be "Whoops, we can't meet our annual commitments, the club's up for sale" - all part of the fun of being football fans!

Maybe that’s “doesn’t keep us in the championship”…

So if the average league 1 club loses £7.6m a year, and they are investing £87m over 5 years, how and after what length of time will they make a profit?

That answer about exit is not good enough. Yes they might not be seeking a quick exit like US private equity but even long term investments need a potential exit plan so what does that look like for SSC is a valid question that wasn’t answered.

£71m over 5 years split across men and women’s football, data and tech and training facilities doesn’t put us in the championship.

Are my original shares worth more than the paper they're written on, if this goes through? Would be nice to think so.

If they really do have more money than sense, it could be they can find a "money no object" way to do the ground expansion without having to groundshare. I imagine any enabling development would be in their ownership, but I guess that'd be fair enough.

and to brighten up the evening even more Como score 4

So 'in the wider interests ltd' own the freehold at the moment right? So do they get transferred to being a DT subsidiary?

I would say that if someone commits to pay £16m now and £71m in the future then you have an asset of £87m- £16m in cash and a £71m debtor due to you. Realistically, even if this was a poor deal (and there is absolutely nothing to suggest it is) we have to take it as the alternative is we run out of money at the end of the season.

They don't get extra shares, they seem to own 90% of "football value" or some similar term. Was there a clear definition of that? And of course we can oly put half the investment into the playing budget (so 8 million?)

Did I miss what the DTB's purpose would be. Nothing major, hopefully?

Can’t mess around with our ground ownership. At least not without a pitch ownership scheme.