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Other clubs transfers 2021

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The loans were Hicks and Gillette's, loans they took out themselves to purchase the club them dumped the payments on the club.

When bank saw how precarious it was to get money back they moved those loans in their toxic asset division, bank protocol in the industry on loans of that magnitude.

They wanted to refinance the loan and the bank wanted the money, seems it was in loan agreement that if they were struggling to get loan payments, seems quite a few payments were missed then the bank could act which triggered them owning the club and to sell it for the actual debt, which happened.

Not sure how the you correlated that with the British government, banks were twitchy then it was a year after the credit crunch and toxic assets needed to be reduced in their portfolios especially banks that were bailed out by the tax payer.

Seems it was a case is the most bad timing to leverage buyout in 2007, it they'd bought the club 2 years earlier WE would have ended up like Leeds.
Fixed for you
 

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