He’s off. He spends millions getting there, fires everyone in sight and then quits after a few months saying there was too much debt. Did you not spot that when you bought the shares, Kelvin? What exactly is your idea of due diligence?
I’m guessing that he’s using the issue of debt to cover his ego somewhat. He tried to play hardball with the banks, who have never liked him. He lost. Now he needs a way to cover up his failings.
Doesn’t bode well for Highbury, though, to have your chairman quit during the middle of debt negotiations.