The American website, CNBC, has a provocative story in its pages. It might not realise it is provocative, but it will, I suspect, generate some conflicting opinions.
It quotes Gervais Williams, a fund manager at Miton Group PLC, speaking highly of the value of the shares.
He is quoted as saying:-
“Because of the precipitous fall a lot of the debts have gone away. The business has got £20 million ($33 million) cash on the balance sheet. It owns its own ground which is worth about £70 million, the training ground worth another £10 million. They’ve really got great revenue coming in from the season ticket sales which will happen over summer. So, the actual business is capitalized at only £45 million. Continue reading