I have been emailed my shareholder AGM do dah/thingy by the club last week. Reading through the initial paragraph the following statement surprised me:
Following discussions with the Company’s auditors, and after careful consideration, the Board has concluded that the £500,000 valuation of our shareholding in ITFC can no longer be sustained, given the Club’s relegation to League 1 and the extent of loans outstanding to Marcus Evans Group companies. Accordingly the valuation has been written down by £500,000 to nil.
Can anybody any of you financial types explain the consequence (if any) of this?
With contracts being renewed and others being shown the door. My question who is making these footballing decisions when we don't have a manager? Are some of them part of MM's end-of-season plans before he got the heave-ho himself or are they ME's with advice from Klug?