SD has decided to sell!!

[wtdog]

River wrecked the Venuzwalian (sp)economy.
He also had a hand in upsetting people on the Gaza strip.

 

[TonyG]

I heard that he left the heating on in Australia as well

 

[wtdog]

and a tap running in Boscombe a few years ago

 

[SAFCDRUM]

Obviously Brexit

 

[Blyth_bucaneer]

and a tap running in Boscombe a few years ago

Well I am personally holding smug responsible for climate change. All his fault. LOL.

 

[Bank of England 2]

To be fair to Bruce, the supporters played a big part in his sacking.

Bruce arguably built the best team safc had, and played the best football we have seen at the club for the last decade.

He got slightly unlucky with bent and gyan both wanting away, plus Henderson being sold, welbeck returning to Man U, and didn't quite replace those players.

On Bruce's first real dip in results, the crowd turned, the atmosphere turned toxic, and he didn't get to January to correct his summer transfer window.

I do believe if the fans stuck with Bruce, he wouldn't have been sacked, and our downwards spiral wouldn't have happened.

He built the most exciting team we've seen this decade, and any SAFC fan would struggle to deny that.

So yes, I do believe Bruce has a point, we were partly to blame for his sacking, and I'll hold my hands up to say I wanted him out at the time.

But hindsight is a wonderful thing, and if I could turn back time, I would have supported him through that bad period.

I agree with a lot that you say in your post, but it's easy to forget that he was sacked at the end of November, and had only won 5 games since 1st February. In that time, our home form was atrocious (W2,D3,L9). It's no wonder the fans were disgruntled.

 

[SAFCY]

Watch a Bruce interview post a defeat and it always starts with, I’m not going to blame, referees, fixtures, injuries.

he then goes on to blame those exact things. He also uses let’s hope a lot, implying that the interviewer is a fan of his.

Identical conferences at all of his clubs. He’ll be sacked within 18 months and the nation will boo him off a lot more than the supposed hounding that he got at safc, which imo was limited to the final Wigan game, inside the ground

yes he got abuse online, but that’s of no consequence, or should not be to a premier league manager

 

[Repswick]

To be fair to Bruce, the supporters played a big part in his sacking.

Bruce arguably built the best team safc had, and played the best football we have seen at the club for the last decade.

He got slightly unlucky with bent and gyan both wanting away, plus Henderson being sold, welbeck returning to Man U, and didn't quite replace those players.

On Bruce's first real dip in results, the crowd turned, the atmosphere turned toxic, and he didn't get to January to correct his summer transfer window.

I do believe if the fans stuck with Bruce, he wouldn't have been sacked, and our downwards spiral wouldn't have happened.

He built the most exciting team we've seen this decade, and any SAFC fan would struggle to deny that.

So yes, I do believe Bruce has a point, we were partly to blame for his sacking, and I'll hold my hands up to say I wanted him out at the time.

But hindsight is a wonderful thing, and if I could turn back time, I would have supported him through that bad period.

Bit in bold is way out. He had some awful runs of results in both his full seasons here.

 

[HeatonMackem]

It literally doesn't matter. All of that is entirely logical, I understood all of what you were saying first time around, but you are missing the biggest, most fundamental point: People do not evaluate price based only on assets. They do so based on revenue, costs, and potential. How much is it going to cost to get us up to where they believe we can be?

So you might believe, we have a £13m squad, but upkeep of that offsets the benefit, particularly if all or part of that squad is redundant at this level and achieving the £13m value at any stage is next to impossible. The asset is there, but the cost of ukeep far outweighs it. It is not a net benefit to someone purchasing the club because even with success, they will all need replacing. Apart from player contracts running out, we have high earning, under-performing big chunks of that like Grigg who we would struggle to recoup cash for.

So when you say that it would cost £15m, the problem is that someone looks at the books and sees:

1: cost base of £28m vs revenue of £20m = £-8m per annum (roughly based on Methven etc)

2: Squad with potential value of £13m

3: Fixed assets (Stadium, academy etc) = ££m?

4: Cost of renovating football side of club over next 5 years in league one and the championship: ££m?

5: Potential upturn in revenue commensurate with achieving goals on pitch : ££m?

The point is that when you tot it all up, because we're a loss-making business, people know that in theory, to fund the next 5 years at the current situation, they'd need £40m to cover the operating costs. That's the assumption they have to make.

They'd then need to spend money on top of that to get up and stay up, let's say £2-3m in league one, maybe £30m minimum in Championship over that time just to have an outside shot at the playoffs. Let's say £35m. That means that you're buying the obligation to spend £75m over the next 5 years just to keep progressing in the right direction, with no guarantees that it will actually pay off with a Premier League spot. There are clubs spending double that in a single season right now, so I'm being extremely conservative. You could potentially double that if you wanted to look at worst case scenarios.

So offsetting that £75m is the £13m squad, and the stadium + AOL, and the intangible value of the opportunity. I don't know what your valuation of the fixed assets would be, but realistically, because of the difficulty in selling those fixed assets, you could make the case for anything between £50m-100m imo.

I think we're of nominal value now. The question is not whether someone values us at £15m or £40m, it's 'who will be willing to take the risk associated with a company this big, convoluted, loss-making, and in competition with dozens of other companies?'

It's about assets as well as what you say, in fact assets are usually the base value because of the potential to asset strip the company.

Answer this: an American billionaire wants to invest and create a PL rival to NUFC. He's accepted that significant losses will have to be incurred every year until he reaches the PL. Does he buy Kittenmittens FC for £1, then build a stadium for £24m, an academy for £13m, and a squad of players for arguments sake for £3m. Total £40m (much more actually when you take inflation into account since the properties were built), then work his way up the leagues? Or does he buy SAFC, who already have all of that, for £40m?

 

[Confucius]

the Yanks would make a fortune from us by just changing our shorts to blue with stars on. Easy win

 

[Smug in Boots]

Bit in bold is way out. He had some awful runs of results in both his full seasons here.

Only won about 30 of his 100 games iirc.

When you take away a couple of decent runs that leaves some very barren patches.

Before he was sacked he'd won a small handful from Christmas to that point.

He said people just couldn't wait to jump on the anti-Geordie bandwagon ....

... despite having been warmly welcomed and employed for over two and a half years.

The 10th place finish, he never shuts up about, was an end of season fluke that came after a relegation battle for most of the season.

He's a fraud who's happy to say he doesn't think much about tactics then bleats that he's never been given a top job

 

[RIC]

SD not on totalsport as expected tonight then...run away run away.....

 

[DH4]

Has he bottled it? Where was this news?

 

[ISOE II]

Twitter confirmed by Barnes.

 

[RIC]

https://twitter.com/i/web/status/1212698106179006469

 

[Kittenmittons]

It's about assets as well as what you say, in fact assets are usually the base value because of the potential to asset strip the company.

Answer me this: an American billionaire wants to invest and create a PL rival to NUFC. He's accepted that significant losses will have to be incurred every year until he reaches the PL. Does he buy Kittenmittens FC for £1, then build a stadium for £24m, an academy for £13m, and a squad of players for arguments sake for £3m. Total £40m (much more actually when you take inflation into account since the properties were built). Then work his way up the leagues? Or does he buy SAFC who already have all of that for £40m?

They're apples and oranges but fair enough, I'll answer.

If he's intent on building up a premier league club, his options aren't Sunderland or nobody. They're all the other clubs in between who may have the capability to go up a division or so. If I'm an american billionaire and I want to be in the PL, the only reason I'm looking at us is the asking price might be suitably discounted, and the facilities somewhat above the teams in between.

But against that is the huge cost of operating the club. As I said, someone coming on board today with an asking price of £0 is making a very conservative £70m+ commitment over the next 5 years. If you add on another £40m, you're effectively making that commitment 9 figures. For what? The chance that in 5 years time, we will be in a division where they will have to spend money to stay up, likely, which means their best case scenario in 5 years time may be that they've broken even and we're still in the premier league after a season. All of which is frankly, fanciful.

It's catch 22. The bigger their investment, the more they need to recoup. Unless we're in the PL, from back to back promotions, the chances are that if they paid anything up front, they have made a hefty loss and may not be in position to even challenge for the championship.

This is just the reality. We had a variable in our projections of 'worst case' things, and we had some of moon shot best case revenue. The answer may be somewhere in between, but at the level they're investing, it's potentially way more convoluted to be in control at the end of that and have to absorb ongoing costs.

 

[The Norton Cat]

Totalsport are saying though that it was never confirmed that Donald would be on the show. He, apparently, just said that he would try and get there but had other commitments. So he hasn't pulled out.

 

[Repswick]

Only won about 30 of his 100 games iirc.

When you take away a couple of decent runs that leaves some very barren patches.

Before he was sacked he'd won a small handful from Christmas to that point.

He said people just couldn't wait to jump on the anti-Geordie bandwagon ....

... despite having been warmly welcomed and employed for over two and a half years.

The 10th place finish, he never shuts up about, was an end of season fluke that came after a relegation battle for most of the season.

He's a fraud who's happy to say he doesn't think much about tactics then bleats that he's never been given a top job

This is spot on. No idea how people have fell for his bullshit.
1st dip in results ffs.
Man is an utter chancer and blames everyone but himself.

 

[Smug in Boots]

They're apples and oranges but fair enough, I'll answer.

If he's intent on building up a premier league club, his options aren't Sunderland or nobody. They're all the other clubs in between who may have the capability to go up a division or so. If I'm an american billionaire and I want to be in the PL, the only reason I'm looking at us is the asking price might be suitably discounted, and the facilities somewhat above the teams in between.

But against that is the huge cost of operating the club. As I said, someone coming on board today with an asking price of £0 is making a very conservative £70m+ commitment over the next 5 years. If you add on another £40m, you're effectively making that commitment 9 figures. For what? The chance that in 5 years time, we will be in a division where they will have to spend money to stay up, likely, which means their best case scenario in 5 years time may be that they've broken even and we're still in the premier league after a season. All of which is frankly, fanciful.

It's catch 22. The bigger their investment, the more they need to recoup. Unless we're in the PL, from back to back promotions, the chances are that if they paid anything up front, they have made a hefty loss and may not be in position to even challenge for the championship.

This is just the reality. We had a variable in our projections of 'worst case' things, and we had some of moon shot best case revenue. The answer may be somewhere in between, but at the level they're investing, it's potentially way more convoluted to be in control at the end of that and have to absorb ongoing costs.

FPP know all that, and more, yet still chose to become involved ....

.... I'm sure their advisors and solicitors know more than people on chat forums.


The way you're talking no one would ever buy a football club, but they do.

 

[Smug in Boots]

This is spot on. No idea how people have fell for his bullshit.
1st dip in results ffs.
Man is an utter chancer and blames everyone but himself.

He dismisses tactics, stats and science and employs people to do the coaching ...

... which only leaves his belief that the power of his personality is all it takes to inspire a team.

He's no Sir Alex ....