In the absence of any satisfactory updates from the club or so-called supporters representatives about succession talks, can anyone explain the details of what’s likely to be involved.
It’s a given that Day is the other party and it’s embarrassing that this is still supposedly confidential information.
We know that the present BOD are bound by their personal guarantees against the PurePay loan.
What happens if a guarantor dies? Presumably the guarantee passes to their estate. But would the guarantee then have to be called in at the point when the estate is distributed?
So are these succession talks to do with Jenkins, Nixon & Pattinson trying to negotiate a settlement that releases them or their respective estates from the guarantees?
And is the glacial progress of the supposed talks to do with the vain hope that “football fortune” ie selling players will reduce the PurePay debt and thereby enable the guarantors to get off more lightly?
Also, how much is each of them in for? Jenkins has significantly more cash than the other two, is he guaranteeing a bigger share of the loan?