FPP to take full control

[Bob Cheval]

The only issue here is if Madrox think the club is worth £35m. The £25m was just given to Short. If he has taken it out before selling the club, no one would talk about it. But because it was due to arrive after the sale, it had to be given to him via a loan to Madrox. This has been gone over many times.

The main point is that the club is not worth £35m compared to the £15m Madrox paid for it. Although Madrox will need to repay the £10m to FPP out of that to be fair. So they are effectively looking to make £10m on top of their initial purchase price.

The thing about JS buying 20% for £1 is also clearly wrong and I imagine the journalist has confused the nominal value of the shares with the purchase price.

 

[Wayne the Punk]

If it has been leaked perhaps we should asking by whom and why

To buy him pint

 

[Wayne the Punk]

Playing Devils advocate here.

If Short had held on to the club until after the parachute payments had been received, used 25 million to clear the loan and then sold to Madrox for 15 million would this then be a non story?

But they are allegedly trying to sell for their buying price, plus the debt of £25million

 

[RIC]

IIRC the Mail ran a similar story some months ago, why has this come to the fore now?
How did Hope get a copy of the preliminary accounts?
Who gave them to him and for what purpose?

There may be more to this, then again I may just be a conspiracy theorist

Leaked accounts ny someone. Ummm

 

[Wayne the Punk]

Leaked accounts ny someone. Ummm

Who would have them to leak?

Someone high up in the club?
An interested buyer who wants to let the fans know whats going on?

 

[Smug in Boots]

There is so much to unpack in this statement that my head is spinning with the possibilities.

For example, if you say that the funds put back into Sunderland are 'interest free' that could refer to to the FPP loan (which as I've said a few times, may well be interest free), but another possibility is that they've put money in but classed it as a loan from them to the club, despite them ostensibly owing £20m+ to the club which should have been paid back before any new loan was made. My guess is the former and they're classing the FPP money as paying off part of the intra-company debt. Which makes things utterly complicated and mental. At every turn obfuscation.

I am actually ****ing so angry at these ****s. And by the way, I doubt any of this has anything to do with FPP asking them to do it. Donald and co. just know that our fans go rabid at the very mention of their name and they're clearly using the FPP justification because our fans have proved over the last 9 months that we'll excuse anything in the FPP name. **** that.

You know in July last year I said to GOM that my one worry was that they might write off the intra-company debt. He said I was a mag and made me out to be a fifth column. Now it is coming true and people will understand that these ****s have always been capable of shafting us, they were just hoping to get out before the fallout hit.

I ****ing hate the way the last year of utter bullshit has torn good Sunderland fans apart. **** Donald, **** the FPP 'let him **** the club up and we'll swoop in and act like we're the good guys in all this' mentality, **** Mark Campbell and his leaks to the press to undermine people, and **** every single one of these people dragging the club down in their own interests.

"You know in July last year I said to GOM that my one worry was that they might write off the intra-company debt. He said I was a mag and made me out to be a fifth column."

When you say "you know" I'm not sure who you think you're talking to, it's as if you're addressing a board meeting of people who hang on your every word.

You seem to have continually shifted your stance from attacking Donald day after day, to defending his actions and intent and now back to full on attack.

I don't think there's any possibility you haven't put forward and defended so, whatever happens, you'll think you were right all along despite your endless contradictions. Thats fair enough, you're entitled to do that and have repeated that procedure in these latest posts.

You've also switched back and forth with GOM. It's either 'I've spoken to him and we're in agreement' or, as now, attacking him on a forum where he can't answer back.

And saying 'our fans have proved over the last 9 months that we'll excuse anything in the FPP name' is a needless attack on Sunderland supporters but, as usual, so vague it's just another 'cover all' that can be spun in any direction.

There's no need to come on attacking GOM, Sunderland supporters or anyone else as if this is a war you need to win.

No one knows the full facts yet so it's all speculation from everyone, you included.

 

[Ozzymac]

The only issue here is if Madrox think the club is worth £35m. The £25m was just given to Short. If he has taken it out before selling the club, no one would talk about it. But because it was due to arrive after the sale, it had to be given to him via a loan to Madrox. This has been gone over many times.

The main point is that the club is not worth £35m compared to the £15m Madrox paid for it. Although Madrox will need to repay the £10m to FPP out of that to be fair. So they are effectively looking to make £10m on top of their initial purchase price.

The thing about JS buying 20% for £1 is also clearly wrong and I imagine the journalist has confused the nominal value of the shares with the purchase price.

In other words 3 Mag journos have decided to kick us when we're down

 

[Wayne the Punk]

In other words 3 Mag journos have decided to kick us when we're down

Wow, talk about burying your head in the sand

 

[flandersmackem]

The guy has owned the club for 5 minutes and he has now seen as a serial bullshitter. His huge gamble simply hasn't paid off and he now risks the future of our club. I just hope he take some time to reflect and then does the right thing....but my hopes are not that high.

 

[Ozzymac]

Wow, talk about burying your head in the sand

No head burying going on marra. Simply adding 2+2 and getting a different answer.

We know that the Parachute payment payed off the SBC loan although not as simply as it could have been. Atthe end of the day it was a club debt and club revenue payed for it. That is what this whole 20 million black hole story is about. We've known about it for ages.

Add to that, the story is being presented by 3 journalists all of whom are Mags. Still don't think my maths is too far off yet.

The only point of concern in relation to the published story is that if SD's asking price. If it's 40m as is being touted about then he's taking the piss. As far as i'm aware though the only person that has mentioned 40m is Mark Campbell, you know him, the guy that couldn't afford to by Falkirk. Sour grapes perhaps? trying to get the club at a discount perhaps?

Don't get me wrong. I don't think SD is the right man to own the club however, i think that people ned to pull their heads in a little and ask the question of "why was this leaked" and secondly "who benefits out of it?

 

[Wayne the Punk]

No head burying going on marra. Simply adding 2+2 and getting a different answer.

We know that the Parachute payment payed off the SBC loan although not as simply as it could have been. Atthe end of the day it was a club debt and club revenue payed for it. That is what this whole 20 million black hole story is about. We've known about it for ages.

Add to that, the story is being presented by 3 journalists all of whom are Mags. Still don't think my maths is too far off yet.

The only point of concern in relation to the published story is that if SD's asking price. If it's 40m as is being touted about then he's taking the piss. As far as i'm aware though the only person that has mentioned 40m is Mark Campbell, you know him, the guy that couldn't afford to by Falkirk. Sour grapes perhaps? trying to get the club at a discount perhaps?

Don't get me wrong. I don't think SD is the right man to own the club however, i think that people ned to pull their heads in a little and ask the question of "why was this leaked" and secondly "who benefits out of it?

The people interested in buying it?

 

[Ozzymac]

The people interested in buying it?

Name them?

 

[Smug in Boots]

No head burying going on marra. Simply adding 2+2 and getting a different answer.

We know that the Parachute payment payed off the SBC loan although not as simply as it could have been. Atthe end of the day it was a club debt and club revenue payed for it. That is what this whole 20 million black hole story is about. We've known about it for ages.

Add to that, the story is being presented by 3 journalists all of whom are Mags. Still don't think my maths is too far off yet.

The only point of concern in relation to the published story is that if SD's asking price. If it's 40m as is being touted about then he's taking the piss. As far as i'm aware though the only person that has mentioned 40m is Mark Campbell, you know him, the guy that couldn't afford to by Falkirk. Sour grapes perhaps? trying to get the club at a discount perhaps?

Don't get me wrong. I don't think SD is the right man to own the club however, i think that people ned to pull their heads in a little and ask the question of "why was this leaked" and secondly "who benefits out of it?

That's a fair post and makes a lot of sense.

However the question I'd be asking Donald is how he can continually contradict himself and expect any trust.

He's said FPP we're taking over, not taking over, investing in the club, investing in him, loaning money, investing money, etc etc etc.

He doesn't know if the new owners will keep him, he's selling immediately, wants to go then wants to stay ad infinitum..

It's a shambles imo.

 

[Kittenmittons]

"You know in July last year I said to GOM that my one worry was that they might write off the intra-company debt. He said I was a mag and made me out to be a fifth column."

When you say "you know" I'm not sure who you think you're talking to, it's as if you're addressing a board meeting of people who hang on your every word.

You seem to have continually shifted your stance from attacking Donald day after day, to defending his actions and intent and now back to full on attack.

I don't think there's any possibility you haven't put forward and defended so, whatever happens, you'll think you were right all along despite your endless contradictions. Thats fair enough, you're entitled to do that and have repeated that procedure in these latest posts.

You've also switched back and forth with GOM. It's either 'I've spoken to him and we're in agreement' or, as now, attacking him on a forum where he can't answer back.

And saying 'our fans have proved over the last 9 months that we'll excuse anything in the FPP name' is a needless attack on Sunderland supporters but, as usual, so vague it's just another 'cover all' that can be spun in any direction.

There's no need to come on attacking GOM, Sunderland supporters or anyone else as if this is a war you need to win.

No one knows the full facts yet so it's all speculation from everyone, you included.

Um, it was me putting the verbal tic onto writing, cool your jets.

And I attacked GOM directly on RTG last night, because he painted a picture of me last year that a bunch of people bought into and that undermined hard work I did trying to root out the real situation here. He is the one who has shifted HIS stance, not me. He is now saying that a lot of what I dug up may be correct.

As for shifting around Donald, it's really simple as I've explained to you many times. I dislike the way he runs the club. I don't think he's the right person to do so. I have real problems particularly with the finances, and you can not argue that I've been inconsistent with that.

But I also think he receives unfair criticism around the FPP deal because it's a good one for the club if they do eventually buy us.

Does that clear it up for you?

 

[Sunderpitt]

That's a fair post and makes a lot of sense.

However the question I'd be asking Donald is how he can continually contradict himself and expect any trust.

He's said FPP we're taking over, not taking over, investing in the club, investing in him, loaning money, investing money, etc etc etc.

He doesn't know if the new owners will keep him, he's selling immediately, wants to go then wants to stay ad infinitum..

It's a shambles imo.

It's a shambles...is a comment that hits a nail on the head.

As Laurel and Hardy probably said "It's a right mess you have got us into"

Similar characters to them running the club atm as well...

 

[DH4]

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[Sunderpitt]

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Great minds, you using Groucho me Laurel and Hardy....slapstick comedy is where we are at...

 

[DH4]

Great minds, you using Groucho me Laurel and Hardy....slapstick comedy is where we are at...

More Keystone Cops

 

[Kittenmittons]

No head burying going on marra. Simply adding 2+2 and getting a different answer.

We know that the Parachute payment payed off the SBC loan although not as simply as it could have been. Atthe end of the day it was a club debt and club revenue payed for it. That is what this whole 20 million black hole story is about. We've known about it for ages.

Add to that, the story is being presented by 3 journalists all of whom are Mags. Still don't think my maths is too far off yet.

The only point of concern in relation to the published story is that if SD's asking price. If it's 40m as is being touted about then he's taking the piss. As far as i'm aware though the only person that has mentioned 40m is Mark Campbell, you know him, the guy that couldn't afford to by Falkirk. Sour grapes perhaps? trying to get the club at a discount perhaps?

Don't get me wrong. I don't think SD is the right man to own the club however, i think that people ned to pull their heads in a little and ask the question of "why was this leaked" and secondly "who benefits out of it?

I agree on some of this, particularly the leak. I believe it came from Campbell.

As for the £20m, Donald committed to a path that took that money out of the club at an absolutely critical moment for us. There were other potential options that would have made promotion easier, but they were never explored because Donald wanted this deal at a £40m headline term.

As part of it he also committed to paying it back, and now that is being taken away. This means someone could come in and buy the club for £15-20m cash and the £20m doesnt come back. It's lost to this deal that he has seen the benefit of at our expense.

I think it's a bad sign, and also on that regard, a bad sign for the other money loaned in April last year, which hopefully we will see at least accounted for in the new accounts, but I suspect they may try to manipulate that.

 

[Export and smoke rings]

No head burying going on marra. Simply adding 2+2 and getting a different answer.

We know that the Parachute payment payed off the SBC loan although not as simply as it could have been. Atthe end of the day it was a club debt and club revenue payed for it. That is what this whole 20 million black hole story is about. We've known about it for ages.

Add to that, the story is being presented by 3 journalists all of whom are Mags. Still don't think my maths is too far off yet.

The only point of concern in relation to the published story is that if SD's asking price. If it's 40m as is being touted about then he's taking the piss. As far as i'm aware though the only person that has mentioned 40m is Mark Campbell, you know him, the guy that couldn't afford to by Falkirk. Sour grapes perhaps? trying to get the club at a discount perhaps?

Don't get me wrong. I don't think SD is the right man to own the club however, i think that people ned to pull their heads in a little and ask the question of "why was this leaked" and secondly "who benefits out of it?

They said they had paid 40m and the club was debt free. They said the parachute payments were security in case they defaulted on the 40m to Ellis. We then found out that rather than security they used them to pay the 40m. Donald said they would pay it back. Methven said we don't get to spend that money twice and are unbelievably uneducated in business. They've now wrote it off so they do not have to pay it back. They expected to be gone by now so they didn't have to deal with the ****storm now coming their way.