Quote ="altofts wildcat"A reliable source who has not let me down in the past informs me of the below, I will admit that i do not understand the why's or hows and it doesn't really make sense but here goes:
The Ellis interest is very real and and offer is a long way down the line however there are some sticking points.
The council load repayments are a lot higher than anticipated by Ellis and he struggles to see how the club would afford them in the Championship without them being paid by directors/owners. Taking on the debt isn't an issue in itself but paying for it if we go down is.
The new stand is set up to run under a separate company to the actual club, a bit like a Stadium Management Company. Carter is wanting to remain in control of this and charge to club itself rent to be able to use it. Now I always understood that the club owned the land and everything on top of the land so I am not sure how it works or even if it is true but I do trust my source.
The final sticking point is Directors Loans. The small shareholders are happy to sell without recuperating their money however Carter wants his loans paying back in full despite what he has said in the past.'"
I'm not in the know at all on this, but there is no way that the £8.5m that was provided to build the stand and other upgrades would have been handed to Michael Carter and John Minards for their own personal gains. I could understand it going into a community group set up separate from the club which the aforementioned people may be heading up currently, but again not for their own personal gain. I think your reliable source might know something but not the actual truth.
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