Phoenix Four Rise Again with Pounds 17m Pension Fund ; Financial Mail

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THE four businessmen who formed the Phoenix consortium to buy Rover for Pounds 10 in May 2000 can look forward to retirement having made about Pounds 40 million out of the company.

While 6,500 Longbridge workers many with 15 and 20 years' employment at the Midland car plant will be lucky to draw a full pension from a fund facing a Pounds 400 million shortfall, the bosses will be able to live off a Pounds 17 million pension pot.

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Phoenix Four Rise Again with Pounds 17m Pension Fund ; Financial Mail

The Phoenix Four have over the same period paid themselves ...

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