This is normal practice with asset strippers.
By loading the debt onto the asset it means that the club will not be making a profit for ages, so tax is minimised. Liability for them is minimal, their skill was getting the money (from other institutions) in the first place.

Yes, they got the club for sweet FA.
( Bartleby A dead man on vacation, Thu 11 Feb 2010, 9:16, 1 reply, 16 years ago)

Whaaaaa?
How the fuck is that allowed? Could we club together, for example, and get something huge for free and make a profit?

I hope Moores and Parry get AIDS (bad version, not fluffy cat version) for selling the club to those two fucking parasites.
(The Boy Monders I have ginger bits in my beard., Thu 11 Feb 2010, 9:28, Reply)

What's a fluffy cat AIDS?
I thought that it was all death by bum stuff.
(Bear Pookie The Frankly Challenged. Halloween is coming to town., Thu 11 Feb 2010, 9:32, Reply)

FIV
Feline Immunodeficiancy Virus. AKA Cat AIDS. WTF, right?!
(The Boy Monders I have ginger bits in my beard., Thu 11 Feb 2010, 9:54, Reply)

It is called business
I think it is appalling too.

But it only seems to be allowed for unfeasibly huge amounts of money. Your average bank manager would probably see through a small to medium size scam.
( Bartleby A dead man on vacation, Thu 11 Feb 2010, 9:36, Reply)