Quote Originally Posted by ronandtet View Post
-the debt was standard all clubs had debt at that time indeed there was at least 4 clubs with greater debt ( who are still in existence)
- ashley didn't clear the debt - he loaned nufc the cash to clear it which is now at least 50% higher
- shepherd must of thought the club was sustainable because he didn't want to give it up

and to quote your post-
"John Hall had no money to bail it out and neither did Shepherd. The bail out money was used up. It was used up because it was money borrowed from banks and money spent ahead of time on sponsorship income, down to money owed for transfers in."

where's the proof?
Proof?
It's all speculation from all sides.
I can't claim facts on any of this no more than you can to the contrary.
All we can go on is what we are fed.

The situation was, Sir John Hall could not sustain the club and decked out, selling his shares. Shepherd could not sustain the club so also decked out and all made a nice healthy profit, it seems.

It's all about what you believe to be the potential reality.
It's all been documented since Ashley took over, with all kinds of stories coming out about this that and the other.