[Trusevich]

To save me googling - what would their position be if they had no money from the unregistered charity that is FoH?

It's difficult to know without knowing how much they're still taking in from the direct debits.

The FoH raised £1.47M in the first two years, subsequently converted to equity. If this counts as part of the Anne Budge loan repayment and they expect to take three more years to pay back £1M, then that makes £330k per year.

If the losses are £680k per season (and we can be sure that will rise in the next accounts) then it's obvious there's somewhat of a disparity.

I suspoect they'll have to sell some of their better players just to even the books. And that's before they even think about a new stand.