This bit is my favorite part of the madness. It's a loan between the club and the man Mosirhi (or his investment instrument). If Moshiri wants to call the loan, the club has to pay it. So if the club pays the loan, it comes from the club's books (which hurts Mosihiri's share value) or from he club's owner (which is himself). Moshiri owns about 68% of the club and values these shares at roughly £140MM (although he did not pay this much). If he calls his loan, it reduces the book value of the shares, which he must then fix by ponying up the money or sell shares at a loss. And if he bungles it all and is forced to sell to a third party, nobody is going to take the debt as well as the shares, so he has to eat his loan to sell. He may have grand plans for making a dime off of EFC, but it isn't through a related party loan. Really, get a grip.