All huangs in the balance. I know terrible pun and all that. But surely this is very good news for those who totally detest the Yanks in charge.
As understood, the two, Tom Hicks and George Gilett stand to make no profit if the club is sold to Chinese billionaire, Kenneth Huang. He has decided to buy out the outstanding club debt but his valuation falls way short of the £600m that the present owners demand.
My feeling is that these two are holding out for more and this could drag on. Investors who have built their reputation on leveraged buyouts always expect their investments to net them a profit- they are not in the market to take a loss.
Having said that, this is a horrible time to sell a club, so this could be the best deal for a long time to come. The choice is between potential financial administration which will be put squarely on the Americans and tight curbs over every aspect of spending for the future. Should be a no brainer.
The Guardian has more >>
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