Andrew in the post yesterday - LINK found something vital out.
Before I continue, to explain Andrew is an expert in mergers and acquisitions so knows exactly what he is looking at. In the article linked above he stated
Unfortunately, at least £15m of the loans had to be repaid by 31 May 2011
This is new news to myself and someone else I have contacted and of course this money is exactly the value of how much Ash Young was sold to Man Utd for or the majority of the money Downing was sold for. I am not sure how Randy originally expected to pay off £15m at this stage, maybe CL revenue ? but with another £3m due next year it is a great cause for concern.
We all know we have large loans to pay off for the money spent since Randy came here but even if we got £15M from CL qualification that money had to re-invested in the team to actually make an impact. I have no doubt that with money Randy knows what he is doing but it seems we have some holes to be filled. That is irrespective of what MON may have done or not because that £15M would have been very difficult to get anyway.
For sure the 2011 accounts when released in Feb/Mar 2012 will be very interesting to read to see what has gone on.