Quote Originally Posted by The Hooded Claw View Post
From the article:
“The reduction in debt due to Tan has been replaced by other loans of £39.5m from other unnamed parties, who are not shareholders or directors.”

It is true that Vincent Tan has reduced his loans to the club by converting some of them to equity, but to say that he has been able to take money out of the club is incorrect.
If you read the account reports properly, you will see that at the beginning of that financial year his reported debt was £72m and at the end it was £40m. The money was taken out of the club accounts as stated in the report. It is also stated that the other £39.5m loans taken out (not by Mr Tan as you say) were to run the club on a day to day basis using the projected tv income as security. Nothing therefore to do with Mr Tan repaying himself some of the money he was owed, out of the increased revenue of being in the premier league.