The truth will out (Wise men say)

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Kittenmittons said:
I think Short had a lot to do with the Donald deal and I don't think we'll ever know exactly how close they got or what the nature of their arrangement really was.

Any time someone goes into the EFL and bangs the table, essentially holding the club to ransom and saying he'll blow it up if they don't accept, you have to worry. The fact he engineered the financial mess we're discussing now - make no mistake, he was an active part of it - means I can't personally stand to see him eulogised as 'Uncle Ellis' and all this ****e.
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Agree, think short wanted the accolade of selling the club debt free but then didn't want the buyers benefitting from the parachute payment
 
This isn't new information really. There was a load of discussion about the missing parachute payment and if Short had any involvement back in some of the finance chats last year. Back then though Donald was flavour of the month for bringing in Americans so a lot of the discussion got shot down.

Edit: just read the article in full and the whole Sartori business is a whole new level of baffling.
 
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Flash Gordon said:
This isn't new information really. There was a load of discussion about the missing parachute payment and if Short had any involvement back in some of the finance chats last year. Back then though Donald was flavour of the month for bringing in Americans so a lot of the discussion got shot down.

Edit: just read the article in full and the whole Sartori business is a whole new level of baffling.
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The pressure continues

https://www.dailymail.co.uk/sport/f...t-Donald-charge-club-mammoth-9-base-rate.html
 
Flash Gordon said:
That's a nothing story that mate as far as I'm concerned. It's a deal between Donald and Methven/Sartori, I can't see how it affects the club at all.
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The club will potentially receive and interest bill from Donald which it should really be serving to Donald. That's how.
 
Flash Gordon said:
There's nothing at all in the article that states that. The interest relates to loans between Donald and Madrox. Nothing to do with the club.
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Madrox is a vehicle solely for the club, at the moment anyway. This mean that the only people/entities who could pay that interest if called in are those involved with Mardox. SD, CM, JS or SAFC

That's how it was explained to me anyway. The whole thing is a bit non storyish because it's just a 'potential' charge. But I don't like the idea that he took the clubs money interest free but has added even a potential charge on his payments to the club.
 
polyphemus said:
For some reason I can't download that article, but the general comments give me a fair idea what's it's likely to be about!!!!

If ever you were looking for an example of 'be careful what you wish for'.

Perhaps Ellis Short, despite his many shortcomings as an owner, wasn't so bad after all.

Like most people, I wish I'd been born with foresight, rather than hindsight.
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And short is the one that thought it was a good idea to sell to these.
 
Basically, Donald likely borrowed the £5m deposit for the club, then paid for the first part of the club shares as a loan to Madrox.

That's fairly standard practice really. It's just how people do investments at this level, borrowing money from the bank is usually the most cost effective and risk-free way of getting quick capital for M&A deals. My mrs is working on something much bigger with a PL club that needs them to get a facility with a bank for hundreds of millions. The owner has it, but he's making money off that and it's not necessarily available as cash, so...
 
If money is going into SAFC as a loan from Madrox, that is more important for us, as it will need to be addressed in a purchase.
 
Paperback Ruiter said:
Madrox is a vehicle solely for the club, at the moment anyway. This mean that the only people/entities who could pay that interest if called in are those involved with Mardox. SD, CM, JS or SAFC

That's how it was explained to me anyway. The whole thing is a bit non storyish because it's just a 'potential' charge. But I don't like the idea that he took the clubs money interest free but has added even a potential charge on his payments to the club.
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Sorry mate, but that's wrong. The charges are aimed at Madrox, not the club. The club is not taking loans directly from Donald so is not subject to this clause. The club receives additional money through Madrox who do not hold the same 9% rate over the club.
 
Iansun said:
And short is the one that thought it was a good idea to sell to these.
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Just for a moment, put yourself in Ellis Shorts position.

At first owning a football club must have seemed just like he'd expected.
There was even the accolade of a Wembley appearance or two.

Then it turned sour with a vengeance.
The Fans were against you and it was starting to get nasty from some of them.
This was supposed to be fun, but it wasn't anymore, AND it was proving expensive and time consuming.
ANSWER, -- GET RID OF.

And sell to anybody who would take it off you.
Naturally you would try to get the best deal that you could, that's the way you work.
Get the PR people to put the best spin on it that they can.

Sell, cut your losses and walk.
Put it down to experience.
Not your problem any longer.
 
polyphemus said:
Just for a moment, put yourself in Ellis Shorts position.

At first owning a football club must have seemed just like he'd expected.
There was even the accolade of a Wembley appearance or two.

Then it turned sour with a vengeance.
The Fans were against you and it was starting to get nasty from some of them.
This was supposed to be fun, but it wasn't anymore, AND it was proving expensive and time consuming.
ANSWER, -- GET RID OF.

And sell to anybody who would take it off you.
Naturally you would try to get the best deal that you could, that's the way you work.
Get the PR people to put the best spin on it that they can.

Sell, cut your losses and walk.
Put it down to experience.
Not your problem any longer.
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But he still loves us, so may be a bit wide of the mark here marra
 
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