This business seems like quite a complicated one but I think Louis Tomlinson's allegation of being misled wasn't aimed at John Ryan. It was aimed at the legal advisers who put the takeover package together in the first place.

John Ryan and Louis Tomlinson had probably been advised by their legal team that the the takeover would be okay without the "cash" raised from the fund, but the football league's new "fit for purpose" tests demanded that without sufficient "available cash" in their back pockets, the takeover couldn't be allowed. Consequently, because they hadn't got sufficient cash funds themselves to meet the football league's requirements, the takeover did became dependent on the cash raised through the fund, and there wasn't enough of it.

I have some sympathy for John Ryan and Louis Tomlinson in this matter.

On the other hand, whilst John Ryan has undeniably done a lot to help Donny Rovers, his attitude at times does disappoint me.

I have no sympathy what so ever for John Ryan. But I am willing to offer him some advice for the future. Do your business in private not through the press. You won't be left with massive egg on your face then.

The reason I have sympathy for John Ryan is that I feel the takeover has become a victim of the incompetencies of others in football - leading to a severe tightening up of the "fit for purpose" rules, which have impacted on John Ryan and Louis Tomlinson.

Twelve months ago, I'd guess this takeover would have been allowed to go through by the football league.

"Fit for purpose" means "are they rich enough"

Look at Leeds United's new owners sacking players cause they were born on the 17th. But he has plenty of money so it's OK.

Very true!

Well it looks like fit for purpose is not just being rich enough, but having a certain amount of liquidity (ie cash, not just assets).
So R and T don't have that cash, or can't or can't be ar/sed to raise it.
Paupers!


They wanted it for jack sh/it basically.