Finally we have the confirmation sneaked out on a Friday afternoon of what we all wanted to know.
The infamous £90M which was first revealed here as indeed been used for a debt to equity swap. In other words Villa is now worth £200M of which approx half is owned by the Lerner trust and Half by Randy himself.
We are short on detailed figures and yet again the paper loss is horrendous at £42M but they note operating expenses are down by £6M. These are mainly wages and you have to remember this until the end of May last year. We need to see the details in a few days time but once you factor those that left since then the wage position is conformed as no longer a problem.
Do I need any more confirmation with debt wiped out, wages and expenses coming down the sheer folly of still buying at Pundland ?
Do I need any more confirmation we are up for sale ?
