He's OUT... of pocket: Duncan Bannatyne buys £75,000 speedboat just one day after agreeing £92million bail out to clear company's loans

Dragon's Den star Duncan Bannatyne has bought a brand new £75,000 speedboat.
It comes a day after it was announced that he had agreed a £92m deal that will help clear his company's massive loans with a collapsed bank.
The entrepreneur - who has become increasingly fond of breaks in the Lake District - announced his latest investment on Twitter on Monday, writing 'I just bought this' with a link to  the new MasterCraft X2.

New toy: Duncan Bannatyne reveals he has purchased a £75,000 speedboat

Pleased as punch: Duncan was clearly happy with his purchase and shared a link on Twitter with his fans

The 20-foot long boat has seating for 11 people and is particularly good for water skiing and wakeboarding.
On Monday the Bannatyne Group announced the agreement with M&G Investments for the sale and leaseback of the ground leases of 39 Bannatyne's Health Clubs.
The deal is aimed at freeing The Bannatyne Group from millions of pounds of bank debt and supporting its future development and profits.

Proud: Duncan tweeted a link to the boat - showing that it had indeed been sold

It will allow the group to clear its loans with the failed Anglo Irish Bank.
In 2006, Dragons' Den star Mr Bannatyne borrowed £180m from the Anglo Irish Bank to buy 24 fitness clubs from the Hilton Group. The bank was nationalised by the Irish government in 2009, and last year, liquidators KPMG were called in to recover its debts.
The Clydebank-born entrepreneur has been repaying the £120m outstanding at a rate of £10m a year.

Fun for all the family (and a few more): The 20-foot long boat has seating for 11 people

Wet and wild: The boat is perfect for fans of wakeboarding and water skiing

The deal with M&G Investment involves the sale of land and buildings and the creation of new long-term ground lease agreements with the new landlord. The company will retain long-term control of the buildings via very long and secure leasehold interests.
Last year Mr Bannatyne - who was once said to be worth £480m - revealed that he has cut his own spending to just £500-a-week.
The businessman, who was once the richest of the Dragons, said he was all but ruined by the settlement with his 47-year-old ex-wife Joanne. She has dismissed his claim that she was a 'gold-digger' and accused him of being self-obsessed.
The divorce reportedly cost Mr Bannatyne £345 million, a large proportion of which £4m went on his lawyers' fees.

Working things out: Duncan agreed a £92m deal that will help clear his company's massive loans with a collapsed bank

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