I gave you the exert from the accounts; if you do not believe it that is your problem.
Now, back to the question:
"If, at the time of sale, the Estate agreed to accept a nominal amount for the Club, say £1, on the condition that the debt had to be taken on and repaid, a scenario which is quite common in buy outs, are you seriously saying that the debt is not counted in the value of what the over all cost was? "
Blimey - if it wasn't for this being great for the post count...... I'm sure you two just argue for the sake of it.... are you married?
Mao - ND/his estate did not make a
profit on sale. The money ND pumped into the club was his own money & showed as a Director's Loan, which are repayable.
Granted, there may have been salaries, interest om the debt etc & all loaded onto the club, but at the point of sale or upon redemption of the charge/debenture - the amount 'repaid' was not any higher than the debt.
CP - ND/his estate did (according to the accounts) receive settlement for the debt, which isn't a profit, as you say, as it's repayment if monies introduced. Clearly, Mao can't show monies actually changing hands - he's pointed to accounts that are bound by statute regarding the content.
Clearly all of the above is based upon what we know, hearsay & conjecture etc - it's like someone saying Fawaz pocketed personally money from the sale of players - it's unprovable.