Originally Posted by
Charlie Darwin
'Scuse my ignorance, but on what authority did the Council terminate the club? They didn't control the board. They would had to have had agreement from the other directors, no?
Good point to raise Charlie, what authority indeed. Well, because GG was no longer associated with the club he handed back his shares, the FCC were then the sole controlling party in the company and were, under agreement, to pass on 74% of the shares to a new stakeholder(s). This was about to happen, was agreed and about to move, when they (and this isn't the elected councillors at the root of it, it was 2 to 3 people at the head of the administration) changed their minds overnight - this is a fact that they tried to underplay - and closed the company. What they didn't realise was that football operates in a cute little world of its own and players expect their contracts to be honoured. So in short, they were the Board for a couple more days and took the decision while the new stakeholders were waiting to sign forms to take over. Oh, and one issue was that the FCC wanted to wash their hands of the whole project, which actually would have worked out well, however they pulled the plug before the new people could take over fully.
How much (ballpark) were those players on?