🚨🚨💣| BREAKING: At Premier League Annual meeting today clubs unanimously agreed to amend Owners and Directors test to prohibit fully-leveraged buyouts. [@sistoney67]
🚨🚨💣| BREAKING: At Premier League Annual meeting today clubs unanimously agreed to amend Owners and Directors test to prohibit fully-leveraged buyouts. [@sistoney67]
WTF is that :P
situation where buyers can’t put debt on the club they’re buying.
That makes sense.
Exactly. I’m glad they all agreed because it is what Manchester United owner glazers did when they bought the club in 2005 they put the debt of acquiring the club onto the club and till today they are yet to cleared that debt.
That is malpractice. Not sure why they were allowed to do that.
I believe this means Buyers can’t put debt on the club they are buying.