This is often trotted out as something "the new board" have done. Unfortunately the truth is going under the radar.

The following is based upon posts by a qualified accountant on BBS called Archerfield who has looked carefully at Barnsley FC published Club Accounts.

Fans will recall that four Share Rights Issues have been made over the last twelve months totalling £6.6 million. These have been bought up, as is their "right", in proportion to shares already owned. ( Parekh 36%, Lee 31%, Crynes 20%, Conway/ Hung 7%, Edmonds Hedge Fund represented by Edmond's wife JAQ 6%).

I had worked on the assumption that all the £6.6 worth of share money had been used to cover deficits. Archerfield has made it clear, however, on looking at the accounts, that just over £3 million of this money has been deferred, set aside, to buy the remaining amount owed to the Crynes for the purchase of the club.

Fans may remember the Crynes reduced the purchase price of the club down to a bargain £3.5 million and the first instalment of this, £750K, was paid, not from Director's pockets, but from BFC Club Accounts as a "Director's Bonus" they awarded themselves.

So, at least Lee, Conway/ Hung, Parekh, Edmonds (JAQ) have used their own money to finally purchase the club, though the money may have not yet been received by the Crynes, it is there in the Accounts ready to be paid.

So now Lee, Conway and Hung at least have finally bought and paid for their share the club and are now in a position, legally, to sell their share, maybe to Parekh ?

The new Board have not "invested" £6 million of their own money into the club. The share of the remaining part of the £6 mill worth of shares after the purchase amount has been deferred, is again split according to existing share holdings eg Lee has paid 31% of it.