Seems to me they have had enough time to look a the books. Either the business is viable or not. Time to get this sorted I think.

The club managed to find a group of investors that were willing to invest £500k without seeing any figures and with the knowledge that they might be throwing their money down the drain. But its unlikely to happen again.

Unless we secured a degree of ownership in return...?

I can understand why people might feel that way but speaking for myself I'd be happy just to have team for next year. They used to run with a committee making decisions many years ago, though somehow I doubt there were ever 5k committee (wo)men!

No they found some committed supporters who where happy to make a donation just to keep the club alive. I have said from the start that if they had - or been able to - offer the chance to actually invest I suspect they would have raised even more.

However this situation ends up - and the new owners [iare[/i looking for "investors" - then I would argue they probably have a better chance of finding some on the terraces

I suspect the verb 'to invest' might be being used a bit more loosely than would normally be the case in the financial market, but who knows. There's little doubt that some fresh blood in the boardroom and at the shareholders meetings wouldn't go amiss.