This deal has red flags left, right and centre! It sounds like a total sham. I can only see 1 of 3 things with this deal.
1. Mr Makwana has duped the board with his patter and vision and they have fallen hook line and sinker for it.
2. The board just want to pass the buck to anyone who is willing to take the club on, regardless of due diligence and whether he is a fit and proper person.
3. Makwana has some secret millions somewhere to buy the majority shareholding and invest
I hope it's the 3rd option but this bloke wouldn't look out of place on watchdog!