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The stadium is owned by Community Stadium Ltd - the club by Brighton and Hove Albion Football Club Ltd - the shares for both companies being 100% held by Brighton and Hove Albion Holdings Ltd. One company in the group can fail without it affecting the whole group.

Maybe he did - it really is the only alternative to his being forced to do so. If he has intentionally written off the debt in this way then he has demonstrated an incredible level of generosity! - It is a genuine "write-off" of that £40 million, as he owns the vast majority of the shares and...

Precisely - the club is in a better position which makes me wonder why it was necessary - when a business is losing money and the debts exceed the assets and debtors the auditors have to be convinced that it has an ongoing viability - converting a director's loan into shares does just that by...

Converting an interest free loan into share equity is hardly the sign of an organisations financial well being.

Not to denigrate anything that TB has done for the club, (without him we certainly wouldn't have the club we have today and for that he is due a huge debt of thanks), but when the fortunes of any organisation, large or small, depends on one person for its future financial viability there has to...