not sure where the misunderstanding about the AWB sale is coming from - the USA investors want to sell so the first thing they insist on is the repayment of their loans - last accounts had something like £35 million in Director loans - so they get repaid that leaves £10m. Should just about cover the rest of the annual losses.

The wages will still cover 80% of the revenue and all the other costs of running the club will take up the other 20%. Obviously the Americans on the way out aren't going to cover any new loans to buy new players. So there is no money from them for transfers so it will depend on the other shareholders to come up with the cash. If I was the bank I would't be that interested in risking it.

Maybe in Jan if the yanks haven't sold their shares they will put in more to stave off relagation? But I would have some sympathy with them that the likely purchases would be absolute sh!te judging by Dougie's recent record. Seriously the worst DofF in history surely!

So there are going to be limited purchases. The two loans will be crucial to survival.

Parish is probably more interested in any new potential investors than right backs as it is all looking a bit shaky right now. Next year we will start losing players on a free even if one we will be pleased to see the back of it is still a huge loss for the club that has no generous benefactor to cover it.

We needed the new stand a couple of years ago to avoid hitting this financial brick wall. The pain of West Ham getting a new 60,000 stadium for free is very real. The fans may hate it but it is going to keep them top 10 for years.

We did survive somehow under Pulis in the first year and Newcastle and Brighton are looking weak too - so we have a 50/50 chance at the moment - with the 3 coming up - to avoid relegation.

Normally at the beginning of the season I'm happy to put my opinions on ice and allow all the doomsayers to vent their frustrations knowing that we'll probably just about be alright again but actually this time I'm gonna put a few quid on us to go back home. Woops! Don't get angry!

I am surprised to read this quote from Roy. Is it in context? Personally I think we are fully stocked at CB! We do need a new RB and a LB to give PvA some competition would't go amiss.

We do need a forward/attacker but I'm not too worried about the start of this season - compared to previous years when we've not even had a manager! Onwards and upwards...

Just took a nasty tackle

The loans from directors and share holdings are completely seperate entities.

When the directors lent the finances they will have draw up a loan agreement setting out the date and size of the loan, the agreed rate of interest and the repayment schedule.

If the individual sells their share holding then this has no effect on the loan agreement.

They can ask the limited company to repay the loan early ie change the loan agreement. This may happen but will be a decision for the new shareholders to take.

You do not have to be a shareholder to be a director

As a company director decisions should be based on the best interests of the company over any personal interests. Thus using the the AWB money to pay off director loans and thus reducing working liquid funds is not in the interest of the company.

What is possible is for the club to increase number of shares and use income from sale of these to pay off loans. This of course reduces value of existing shares