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Exhibit C-04: The Drag-Along Clause
Status: Critical / Apr 2026
THE ARCHIVE
Verifiable evidence of institutional decay.
EXHIBIT C-01: RUSTING INFRASTRUCTURE
Grayscale documentation of oxidation on the Stretford End cantilever supports. Zero reinvestment since 2005.
EXHIBIT C-02: CONCOURSE FLOODING
Rainwater ingress in the South Stand concourse. Manifestation of managed decline.
EXHIBIT C-03: THE INTEREST TRAP
£852M interest paid vs. £0 total equity investment by the Glazer family.
EXHIBIT C-04: THE DRAG-ALONG CLAUSE
The 2027 SEC Filing provision. The ultimate threat to independence.
EXHIBIT C-05: ENABLER PROFILE 02
Commercial exploitation prioritized over footballing performance.
The Waterfall Archive
Documented evidence of structural neglect.
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Exhibit C-03: The Interest Trap
Status: Critical / Apr 2026
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Exhibit C-02: Concourse Flooding
Status: Critical / Apr 2026
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Exhibit C-01: Rusting Infrastructure
Status: Critical / Apr 2026