He took on 40k debt but just let it ride on the accounts while claiming to be a lifelong fan (though no one of that age can ever remember seeing him at a match), note how the land and the club were two separate companies.
He then pretty much ran the club at cost while sitting on the real estate, he tried to offload the real estate for the profit when moving the club to Whyndyke and his super stadium, land he owned that he presumably would have charged the club for while financing the rest through loans and grants secured through the club and rent for the shopping complex that was also part of the plan. He then raped a 16 year old which put a stop to all that.
The club was then obviously ran at cost until the PL windfall (funded by Belokon) and the rest is common knowledge.
He never saved anything, he never spent any of his own money, he bought attractive real estate for a pound, the council were idiots.
As a contrast Simon Sadler bought the club with his own money, has invested his own money (the accepted thinking is it needed £10 million just to get it up to League One standard) and has given the manager everything he has asked for, has got us promoted at the first attempt and already has plans for the Championship in place, while also actually being a true fan, one of our own.