Share Issue could raise up to £1.7M for new boss

Meeting June 2nd

A meeting has been called for June 2 to propose the initiative formally. Sheepshanks has previously stated that the issue of shares to existing share holders for 25p each will be used solely to fund players for 2006/2007.

This means that the new manager, when installed could have a kitty of up to £1.7M to spend on the squad, depending on how successful the issue is and this may depend to a large extend on who the board appoint.

More good news for the club is the reporting of Norwich Union, the clubs biggest lender, deciding to invest £3M that Town owe them into a 10% stake of the club. This is in the hope that an eventual promotion to the Premiership to be profitable for the lender.