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I agree with the first observation entirely, and with the second clause of the second. The first clause of the second - well, the AMEX and Lancing would be worth something to a successor of TB as BHAFC owner, if such a person were to exist. It's this point where I wonder if Bolton are in the...

An interesting view; I'd not really seen the parallels before, but you're right, they're there. I have one question (possibly more for El Presidente than you?). The great bulk of TB's money has gone into fixed assets (AMEX and training ground). I'm not dismissing in any way the (roughly) £10m...