Significant investment means the club have the playing resources to improve performances but with so many new team members time will be needed.

As traditional hedge fund investment styles in mature markets become more crowded, we are expanding internationally and into more asset classes.

This is a long-lead-time business; the investment horizon is five, 10 or 20 years. There's no switch to pull.

We have a very small stake in the company, which is a strategic investment that was made a while back but, as far as I know, there aren't any plans beyond that.

I didn't really want to live, so anything that was an investment in time made me angry . . . but also I just felt sad. When the hopelessness is hurting you, it's the fixtures and fittings that finish you off.

While we view the acquisition favorably, we are maintaining our market perform investment rating at this time due to valuation.