Quote Adeybull="Adeybull"Er...because the directors would have to pay hundreds of thousands of pounds, personally. Why the hell should they be asked to or expected to do that? Especially when they do the job for free, and their shares are essentially worthless?
And anyway, it would be for the BANK to call in the guarantees, and that would only happen if the club became formally insolvent.
And, if you wonder why the Board chose to repay the overdraft...it almost certainly didn't. It does not work that way. You basically pay money into the account and the bank grabs it. And won't let you make any payments without their leave - it will just bounce them for being over the limit. The BOD will have likely been told by the bank: "tough".
Isn't this the same bank that pours heaven knows how much into Rugby Union?'"
No need for the patronising tone mate , i was just curious ?
If as you say their shares are worthless and this lifeline from the supporters get you out of the mire , then the share prices will rise again, who benefits from that ?, certainly not the supporters who have rescued the club.
Anyway i hope all turns out well for the club
