I think someone posted earlier that Mai Fyfield is a non-executive director of the PL, so what was she doing spending hours valuing deals? Did she do this regularly for other clubs' deals or was it just the EAG deal? Non-execs sit on the board and exercise oversight of the executive, not roll their sleeves up and get dirty.
And looking at the PL board, there's another thing I noticed. Company boards should have a mixture of executives and non-executives. Back in the mid-2000's, when I got involved in setting up a Supporters Trust at City, one of our key campaigning points was that the board didn't meet good corporate governance standards.
The reason was that there was just one executive (CEO Alistair Mackintosh) and just a handful of non-execs (Chair John Wardle, Mark Boler, Dennis Tueart and Brian Bodek). And we were a quoted company at that time so should have had a better board composition.
The PL is a multi-billion pound organisation yet has a chair, three independent non-executives and a CEO, so exactly the same as City pre-Shinawatra. Where's the Finance Director or the Marketing Director? Corporate Governance guidelines require "an appropriate combination of executive and non-executive directors...such that no one individual dominates the board's decision making".
How the hell are the PL meeting this requirement?
There's also an existing requirement that if 20% of stakeholders vote against a resolution, the organisation should seek to find out why they did. This seems to imply that if 4 or more clubs vote against something, the PL has a responsibility to investigate and understand the reasons.
