To be fair to McCabe, the deal he did with the prince was one of the few things he's done over the years that appears to have been done very well.
He 'sold' his 50% stake in the club for nothing, in the exchange of the prince investing a certain amount of money over X amount of years. I know that's not exactly transparent, but there has been money put into the club, and the general costs of running the club have been covered. More importantly, and something fans forget to remember, is that as part of the takeover McCabe agreed to write off all debt owed to him by the club. Which effectively makes us debt free. We may be in a shit situation at the moment, but at least we're not millions in debt facing possible admin or wind up orders. The financial state of the club seems secure.
Also, by McCabe keeping 50% it also gave us a little security in case the takeover wasn't successful. Which I'm grateful for.
In theory the takeover was perfect for everyone and the club. The problems have come with terrible decisions at board room level (as normal), having directors and chairmen who know little about football, in my opinion sacking Clough, and selling our best player each season without replacing them.
We now have far too many directors running the club (I couldn't even tell you who is our CEO or mamaging director), a chairman who knows nothing about the game and lives abroad, and two owners who live abroad and probable only involvement is to check our scores online each week.
Only we could fuck up what appeared to be a very well thought out and watertight takeover. just another chapter in be ineptness that is SUFC. But let's be honest, we could have all predicted this would happen the day the takeover went through.
