Fair enough, I respect your concerns - but do you think the member is actually doing this entirely for personal gain or the benefit of keeping the club alive?That is part of it through existing lease deals with the gym and physio, but any excess from the football pitch or additional revenue raised through other channels would still go away from the club too.
That is also in addition to any other costs incurred during the 3 year period being paid back on top of the buyback, with stamp duty and other fees also covered by the club for both sales.
I'm wary of it for sure. The whole plan is reliant on a land sale, that hasn't sold for the past decade.
There was an alternative loan only option previously that fell through, hence why this one will probably go through.
I'm not sure that it's a better option than letting the charity commission come in and appoint someone to sort it out though. Its been ran terribly for a good while - 10 years ago the bar was making £80k, whereas its been ran at a loss for the past 5 years.