Originally Posted by Rashid
Gillett is a cunt and so is the cunt he brought with him.
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Brief but to the point.
As said before he didn't have enough cash so brought someone in who was more or less in the same boat.
They hatched a plot to buy the club on the tick.
Hicks goes off the reservation and lets loose about the refinancing and everybody catches on. The credit crunch screws up their chances they then have to pay a deposit neither wanted to do. Now the chief instigator wants out as he knows to go further is gonna kill his wallet. He's been declared bankrupt once before. A few bad seasons, a recession and a large portion of his fortune locked in a building site and I can see why he's heading for the hills.
As for Hicks he can see the potential but doesn't want to pay for it.
He's hoping to ride the storm and then the possible crest of a wave when the big bucks flood in. Then sell. No other yank billionaire wants to sink the cash he needs to buy GG out (sorry to point it out but £100M is $200M roughly) so the only choice he will have would be to sell some other assets to raise the cash. He will face the same problem, no one is buying, not at what he will be selling it for. Would he sell one of the other teams he has, can't see it as again, who will buy a team that has won fuck all. By not backing his franchises properly with decent signings and other support he has fucked himself in the long term as now nobody (hopefully) wants them.
Sorry, was not as brief as you Rash!