I think if Hilton had framed 1899 differently it would have had a chance.
I would have put that amount in to actually save the club. A fan owned company that actually owned the ground, securing it for Scunthorpe United to play there, either for ever or until DH builds a new place. But 1899 came across as a timeshare scheme for a seat in Mortz and a season ticket and also raised a number of questions that haven’t been satisfactorily answered, hence the low take up.