To simplify the position as far as I understand it Eddie Davies provided £7.5m worth of bridging loans to Anderson on his personal security (and on his wife and her security too - as much of it is in joint ownership).
Anderson either has not got it to return and risks losing his yacht/Monaco home/collection of classic tank tops/etc, or has got it but doesn't want to pay it back (we don't know his side of the story to be fair).
Mr Gordon working on behalf of the trustees (who I guess probably are mainly Eddies family?) seem to want all the money back.
Anderson wants a deal that he will let the sale go through of the club if they (EDT) indemnify him against future civil action against him - or in other words if he doesn't pay the money back they can't take him to court to make him pay.
Eddie's family are allegedly not big supporters of BWFC and by all accounts don't live a millionaire lifestyle you might have expected from someone who was once as rich as Eddie before he wrote off over £200m on the club.
Ken is fighting to save himself £7.5m - whatever people think of him I can understand not wanting to lose £7.5m if he can avoid it which is almost certainly far more than anything most reasonable people calculate he's ever taken out of the club - think more like £2m I would suggest.
Anderson has been treated like shit by most people since he took over the club, so he's hardly likely to roll over and let Kier Gordon tickle his tummy.
Maybe something can be agreed between £2m and £5.5m - otherwise things are looking grim for the club.
The problem though is neither side seems to have an interest in keeping the club alive at their personal or trustees expense - and tbh I can't blame either one really.
Keir Gordon , Partner
Keir advises clients on a wide variety of corporate finance issues such as mergers and acquisitions, investment funds and investment finance related matters.
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Keir advises clients on a wide variety of corporate finance issues such as mergers and acquisitions, investment funds and investment finance related matters. He regularly advises on cross border mergers and acquisitions real estate transactions and financing in sport. He has worked on football club financing for over 15 years, dealing with takeovers, debt and equity funding, player and stadium acquisitions, sponsorship and naming rights. Keir is identified in the legal directories as a leading expert in Sport and mid-market mergers and acquisitions. He has worked in London, Hong Kong and Australia.
Keir is admitted to practise in England and Wales.
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