Since when has this been a fact? I don't recall it ever being mentioned at the time of the takeover. Strange that this 'fact' has only come to light when MM needs to deflect some criticism away from his sacking of MA.
They were not about to announce the fact that we were shit bust and on the verge of administration when they were activley seeking investment.
They were not about to say "Sir would you like to invest £10m+ in LCFC to get us out of the shit? The accounts are not yet availabe because it will show a debt of in excess of £8m+ and we have no way of paying it off as the cuurent board are not interested in saving the club a second time"
Face it without MM it was only a matter of time. There were no alternatives.