Well, he did speculate to get out of the division the right way, and it backfired, mainly because of the stupid appointment of Robson. Having said that, I think he panicked a little too early, hence the sale of Beattie and much of what followed.
Yes, I'm with you on struggling to see how he can avoid putting more cash in just to stay afloat, unless investment comes in, but we can hardly bank on that, and it certainly doesn't seem to be anywhere on the horizon. However, for all his appearancees on Rich Lists etc, I do wonder how much of his personal assets are liquid? Given what has happened over the last couple of years in terms of both the property bubble popping and the banks' reluctance to lend, I wonder whether he has the wherewithal to pump much more in? I would imagine that much of his wealth isn't very liquid at all.
I also agree that he has royally stuffed up as far as United is concerned. However, he has admitted to mistakes, which he should be given some credit for. I think he has taken the right steps recently to try & make the business look much more like a football club, and to seek to reduce, if not eliminate, external debt. I will also applaud him if he goes ahead with the proposed shares for debt thing. However, I think he is taking a big gamble on hoping to remain in the Championship whilst this is going on - we are all aware of the state of the squad.
So yes, I would like to see some more cash go in, but wonder if he still has the ability to do so? I have no idea, but his wealth is built on property..........
In some respects it is not dissimilar to the end of the Brealey era when he became, in his own words as far as I remember them, "no longer a man of financial substance".
