I think this is the key to why a new license is required.
Ashley/Frasers have acquired an asset of ACL (the long lease), not ACL itself (with all the debt attached to it).
Hence the club's 10-year license with ACL is null and void and the need for a new agreement with Frasers.
Sent from my...
Fisher going on about break-even prompted me to go back and have another look at the Sky Blue Sports & Leisure accounts for the season ending May 2015.
They report a loss for the period (before interest) of £2m, and included in this loss are "administrative expenses" of £2.9m.
I'm trying to...