SD has decided to sell!!

  • Please bear with us on the new site integration and fixing any known bugs over the coming days. If you can not log in please try resetting your password and check your spam box. If you have tried these steps and are still struggling email [email protected] with your username/registered email address
  • Log in now to remove adverts - no adverts at all to registered members!
HeatonMackem said:
Hectic weekend so I've only just listened to SD on Total Sport. I've been fully behind SD but I have to admit, the contradictions are becoming too frequent and he's losing more credibility every time he goes on air. I think everything he has said and is saying now must be taken with a large pinch of salt.

In his defence though, imagine yourself in his position trying to get the best price for the club (just to break even) when FPP are offering £Xm less than he wants. He's not going to say that they are likely to take over, because he'll be admitting that he'll come close to their offer price. He also can't admit (although he has in the past) that they wanted to buy the club and made an offer - because of the non-disclosure agreement in place. He also doesn't want to put off other potential buyers who might come closer to his asking price by saying FPP are still interested (and could complete quickly).

He hasn't spent the £9m loan money but he has used it to replace the parachute payments, just means it is sat in the club's bank account (unspent) so that's not actually a contradiction. But it is quite misleading because it hasn't actually paid off what Madrox owed to the club (for the PPs) because it owed the club an extra £9m for the new shares issued, so he has confused people by mentioning the PPs.

The point about them investing in SD and not just the club is a harder one to explain given that before he said he hoped to stay on after they take over. He's effectively saying it's the fans fault if FPP don't takeover. Or is he trying to get the fans to back off?

I didn't like his comment about the burgers and queues though, as if all we care about is a pint at half time. I couldn't give a **** about that compared to results on the pitch.

Overall, I'm still hopeful that FPP will takeover, otherwise why bother with the loan.
Click to expand...
The burgers are fking horrid win, lose or draw.
 
  • Like
Reactions: HeatonMackem
Kittenmittons said:
They wouldn't 'lose it' if he got it flying though, they'd get exactly what they want. They'd own 20% of it, with an easy route to owning more at a good price, with a better understanding of the business, it's strengths, weaknesses etc. They would themselves gain (via their proxy on the board) a better feel for steps they may one day take, and challenges that arise when running a football club, without having any risk. It is a completely normal way of investing.

Very few people dive straight in with a majority stake in a business they know very little about running on a day-to-day level, in an industry they have little knowledge of. Sport is probably one of the few exceptions, but these people don't seem like they leave their business principles at the door, do they?



At what point do you think it's better to listen to rumours than it is him literally saying that they never intended to buy us outright and didn't make a bid, which would be extraordinary claims to make if he knows they aren't true? There have been 50 rumours since the saga began, some of them have been proven completely wrong, some have been closer, but it's a pretty sure bet that most of them didn't start with Donald or Methven. Most start with someone lower down the chain or completely unrelated.

As for the 18-24 months thing, I'm not sure what you're getting at. At the end of that time (or before) they can convert the debt that Madrox has to them into equity in SAFC, a minority stake of say 20% (depends on valuation). At that stage, the intention would be to provide another round of funding at the next level that might achieve the target of getting into the premier league, for example, for an increased equity stake. So in 4 years time they could own 40% of us, and we could be headed upwards. They may then look at their options of assuming majority control.

None of it is a waste of time and the deal could work for everyone if it carried on, but it would be many years, if ever, before FPP were majority owners. This is exactly how people invest in businesses. The fact that most football club owners tend to be megalomaniac egotists who are doing it as a vanity project doesn't mean that's what we would have had.
Click to expand...

So no proof he was trying to get them to buy us then?

You mentioned 18-24mnths .You posted that he could repay the loan after 18-24 mnths - which seems very short term in that he'd be expecting to finance the club improving and generate £10m on top of that.

Is it a fact of the loan that if he doesn't pay it back by 18-24mnths they get a relative share of the club. Seems like some more hard negotiating to be done at that point if you're suggesting 20% which would value the club at £45m on a £9m loan.
 
Blyth_bucaneer said:
Aye, made me chuckle TBF, he must be walking around with blinkers on. The more I hear, the more it seems to be like an Arthur Daley affair, just hope we can keep doing things on the pitch. This league is fking horrid.
Click to expand...
To be fair when he came people were buying him pints he did not see the queues then
 
  • Like
Reactions: Blyth_bucaneer
Is this an Ashley sale... just said to placate fans, although no real intention to sell

I rather the owner/manager concentrated on bringing a few better players in whilst winnowing the chaff out..
 
  • Like
Reactions: Sheep Farmer
Sunderpitt said:
Is this an Ashley sale... just said to placate fans, although no real intention to sell

I rather the owner/manager concentrated on bringing a few better players in whilst winnowing the chaff out..
Click to expand...

winnowing the chaff out, there's an expression i've not heard for a while.
 
aye, the days of buxom young wenches, i remember them well.
 
Last edited:
Simon Jordan has offered his sixpenneth.
In summary he says
Donald did not have requisite experience to run our club, and
He used other people's money to take us over.
When the likes of Jordan sticks his oar in and calls you a chancer you really have hit rock bottom. Narcissists at 10 places.
 
  • Like
Reactions: ISOE II and Left For Dead
FulwellBri said:
Simon Jordan has offered his sixpenneth.
In summary he says
Donald did not have requisite experience to run our club, and
He used other people's money to take us over.
When the likes of Jordan sticks his oar in and calls you a chancer you really have hit rock bottom. Narcissists at 10 places.
Click to expand...

Very interesting - but seems it was Donald vs liquidation - God help us who he sells us to - shame Dell never did the business
 
Smug in Boots said:
I really don't believe it will happen any time soon, if ever.

If Donald wants to 'move on' the only way is to pay back this money.

In my opinion it would be impossible to sell the club while this 'loan' exists.

I don't believe Donald knows what to do next.
Click to expand...

He can only wait for a buyer - any ideas who now?
 
FulwellBri said:
Simon Jordan has offered his sixpenneth.
In summary he says
Donald did not have requisite experience to run our club, and
He used other people's money to take us over.
When the likes of Jordan sticks his oar in and calls you a chancer you really have hit rock bottom. Narcissists at 10 places.
Click to expand...

Any links to what Jordan has said?

He's a grade A ****er, but is probably fairly qualified to give an opinion on this subject.
 
Left For Dead said:
He can only wait for a buyer - any ideas who now?
Click to expand...

As far as I'm concerned FPP would be the most likely tbh.

They wanted the club and now have money invested.

They may become more interested if the price comes closer to their valuation.

Let's be honest the club isn't worth any more than what Donald paid, if that.
 
  • Like
Reactions: alan reed and one gary owers
Smug in Boots said:
As far as I'm concerned FPP would be the most likely tbh.

They wanted the club and now have money invested.

They may become more interested if the price comes closer to their valuation.

Let's be honest the club isn't worth any more than what Donald paid, if that.
Click to expand...

I'd put the chances of majority ownership by June at:

Donald 85%
Campbell or whoever his summer bidder was: 10%
Another bidder: 4.99%
FPP: 0.01%

Not sure what part of 'they don't want a majority stake' that you don't understand. The price is likely not the fundamental issue based on what Donald said, and given that everything we know has actually happened supports that version, maybe it's time to accept they don't want to buy us outright? Even if you gave them it for nowt, if they don't want to be majority owners, it would be worse than Donald for us if they were learning with an asset they didn't intend to buy outright.

Donald staying on might sneakily be the best option if you want to ever see FPP near the rudder. They'd be on course for the minority ownership they want, have 18 months + to get to know what English football club ownership is actually like, and have the option to come on board more for a Championship rebuild if we got there.
 
You must log in or register to reply here.
Top Bottom
Back