Foxes_Trust said:
Our interpretation of what he said is:
If a multi millionaire turned up with swags of cash, the articles of association do not stop the investment (on the basis that 75% of the shareholders approve a change to the articles).
Let me get this straight. The rules (articles) don't stop investment on the basis that they can be changed. Is that what you just said? Answer: Yes, it is because I've just quoted you.
What kind of twisted logic is that? Of course the rules stop investment otherwise they wouldn't have to be changed! I really despair at times!!
Foxes_Trust said:
It is restricted in the current articles, but the shareholders have it within the powers to change it.
The question was asked: "It's no secret that at the time of administration the new club was set up in such a way that no single person could own more than about 5% of the club. Why is that such a good idea?"
Andrew Taylor replied: "Actually, I think that has become a bit of an urban mythabout the club, having spoken to our lawyers about this,
it's not built into the articles."
I don't see how that statement can be open to any kind of interpretation. It is urban myth - it is not in the articles. That is what he said - what else could it possibly mean?
The FT says it is in the articles: Andrew Taylor, having spoken to the lawyers about it says it isn't in the articles. As it happens, I do believe the Trust on this one. Andrew Taylor, as in many other parts of the interview, was making it up as he went along.
Question after question was fudged or ignored. I'm surprised that the FT should seem to be defending his performance.