Only an utter idiot would take over and pay for the accumulated follies of Jenkins/Nixon/Pattison, letting them walk away laughing. Philip Day has little love for Jenkins/Nixon/Pattison and he does not give money away. Indeed it is thought that he wants out and he wants his money back. If he insists on getting his money back, we know that this cannot occur, then he can take the value of his debt in 1921 assets including all tangible assets, all money in bank accounts, all incoming transfer money etc. If that is less than the debt he can then implement the Personal Guarantees of Jenkins, Nixon and Pattison.

Thus all the stakeholders and would be stakeholders have their clear stances from which they will not deviate.

Meanwhile the club is dying.