"...that is to say, that it was formed by the voluntary effort of a number of people resident in the locality of its headquarters, and that there were many shareholders who, with separate interests, had the right to elect directors."
"The Football Association does not allow the private proprietorship of clubs carried on for the purpose of speculation and profit."
"they [the FA] have been prosecuting inquiries. They demanded the balance-sheet, which is never made public. The share list has been examined [any Qataris on there?]. The increases of capital, the alteration of the articles of association (without permission), and the alleged issue of debentures [bonds] for large sums in connection with the building of the new ground at Old Trafford have been matters for consideration."