Yeah you're missing what I was saying. We don't know what the plan was for the debt, but in most cases, they would have refused to pay a fee for the club (the shares) and instead taken on the debt, or a substantial portion of it. They could then have paid that debt off, replaced it with debt to them, or paid it off with parachute payments and their own money. Or any combination of the above. But again, we're talking about a deal that we don't know details of, so it's impossible to say whether it would be a better or worse situation right now.
They couldn't pay it off with PP as they don't cover it, but it seems to me that we would be in a worse position and relying on the owner / owners to keep the club going. That to me isn't a great way forward
So in other words if Short had reduced the debt to 40 million then SD and Co could have refused to pay a fee for the club and then used 15 million of their own and 25 million of the parachute payments to clear the debt and that would be ok with you? Instead they paid Short 15m, Short took on the 25m SBC debt secured against the parachute payments which when received by the club were used to pay off Short. In effect Short was a 25m creditor and the club used the para payments to clear that debt. Is it only me but they appear to be the same thing just ones a bit more confusing than the other.
This was kind of my point, the PP were more than likely always going to go on repaying debts. The biggest mistake SD has made is saying he paid £40 million for the club when it appears he paid £15 million
It would be bizarre to leap to the conclusion that any other deal would make us worse off without knowing any detail whatsoever. Particularly as there's absolutely zero evidence for any of it. Again, none of this changes that as late as April, Donald was still using club funds to pay off Ellis Short directly for some of the £15m portion of his debt, that related to his shares. Why? Why not use his own money at that point?
I take that as one of the gravest insults ever levelled at another human being If there's one thing I take pride in, it's spelling.
Sorry, I'm not saying KM and Chris are the same person, just that they have very similar views which is why a lot of people have asked if they are the same person. Chris seemed to know much more about FFP/SCMP than KM so I'm convinced they are different.
There are very few facts, just speculation and ifs and buts. And for every 'snippet' that suggests one thing (EFL £20m) I can find a snippet that suggests another thing (EFL £50m). Pointless trying to go through all this and argue with you when it's mostly guess work. Give it a rest and come back when we know more from the July 2019 accounts and future RAWA meetings.
which is my exact point about Kildare on there, he's doing it on purpose ! he's an intelligent chap, and his spelling errors are glaringly obvious !!!!!!!!!!!!!!!
Was Drumaville not the folk before Ellis? There’s questions to be answered but there’s nothing massively out of the ordinary for financing a £40 million purchase by a private investor in my eyes.
It's based on what had been said in the podcasts, press, RAWA meetings, FFP/SCMP rules, and my experience as an accountant who managed the audit of a professional football club for about 8 years. If we're at our SCMP limit we'd have to sell to buy or hope that new investment money comes into the club but this would affect FFP losses if we go up.
That's more or less how I see it. When the takeover was announced the press mentioned 2 years to pay off ES.
Sorry but are you saying that Stewart Donald saying himself that he had £20m not £50m is incorrect? That is pretty bold There are facts to support everything I've said. Where have you provided any? You haven't shown how you know we're at the SCMP limit, Or how you know that Donald paying back his debt would not count as revenue.
EFL wanted to see £50m in SD's account. SD thought he would only need a spare £20m to cover losses etc.
He's definitely linked to the club like. Some say it's Methven and that would make sense;. He posted a lot on the Oxford forum, he had that slight arrogant manner that kildare often displays, sometimes he seems to make "mistakes" that almost seem set up to make him look like he's not involved, he randomly disappeared when there was talk of NDAs (not sure it's ever been proved that he was banned). If it's not him it's someone close to him
SCMP limit hit next year please log in to view this image https://medium.com/@christoph_21/sunderland-afc-ffp-scmp-an-assessment-c5eeba00f4cb
"the FL Turnover figure includes donations from the owners to the club and injections of equity." http://www.financialfairplay.co.uk/scmp.php
You do realise that proves my point, not yours, right? I'm saying that Donald repaying his funds count as turnover, you're saying they don't.
