In Michael Steele's interview on Boots 'n All, he said they'd been rejected mainly because they didn't have a single backer.

Assuming that he hasn't misinterpreted what he's been told, is our policy of 15% maximum holding fatal to any future $uper£eague application ?

I personally think sole ownership would be a reason to downgrade a licence application. One person owning a club leaves the club vulnerable to the whims and wherefores of the said owner to do as he pleases as and when he pleases. We saw what happened to the Celtic Crusaders when Samuels spat his dummy out and which ultimately led to the events of last Tuesday.

Couldn't agree more, pal.

Eventually, all backers get fed up and want their money back.