Quote: Bullnorthern "RL Express reports that they believe Khan / Sutcliffe bid is favoured. They "understand" it involves unconditional offer to buy at £150,000 and will agree to take smaller amounts of Sky money for next 12 months " to pacify ...objections to a club offloading debts then continuing to receive full distribution".
Also says whilst agreement to keep 14 teams, other clubs outside SL will also be able to compete for license'"
So are they suggesting a newco? Or is the "off-loading" to be done via a CVA?
Sounds a bit like a newco as, so far as I know, no-one else has yet had to drop monies for entering a CVA, though neither have I heard of any objections to any other club's future income in previous cases. If it turns out to be a CVA it will still have to be agreed (if indeed the creditors do agree) so it's far from done and dusted.