Gregg (Apollo Leisure) wanted complete ownership of the stadium and all monies from it.
Pretty close to the truth. Gregg owned theatres. He saw 'his' stadium as a big theatre/arena and wanted all the profit from concerts ,food and drink, etc. Bill I think will forever regret using the phrase 'ring fenced' with regard to the money. What he should have said that the bank had promised the money if the deal was in their own and Evertons interests. The bank did not like the deal so pulled the plug. Gregg subsequently went on to be involved in ,I think Sheffield Wednesday, and that ended badly as well. Re Gregg and Bill, you need to remember that Greggs modus operandum was to buy up old and run down theatres, refurbish them, and put Bills successful touring shows in the venues. So Bill directly influenced the growth of the Greggs fortune. A senior executive at One Nation(Palace, Opera House, Manchester etc countrywide) one told me that without Bill Kenwright provincial theatre would be virtually dead. Bill may not be perfect at running a football club, but he is tops in his core theatrical business.
