the owners bought the club from the royal bank of Scotland, not from H&G they defaulted on their loans.
That's a technicalty FSG saw gillet and hicks were over a barrel and bought they club on the cheap. Or so they thought given events they it seems overpaid and they had not a clue on the business they were getting into.
Gillet and hicks must be laughing their heads off now.
Not so funny for us fans though with the club in limbo