I agree costs needed cutting but not to the extend and tbh I doubt we have even seen the full extent yet I've got a feeling there is a few more skeletons in the closet hence what has held up FPP. They've spent an apparent 3m doing DD and loaned the club 10m... I think they've seen something and thought well we've spent 3m and seen that these idiots don't know what they are doing.. Let's just loan them a bit and if they can't pay us back (which we know they won't) we will get it much cheaper.
So FPP have put £12m into their SAFC "project". £3m dd and a loan of £9m. Isn't that roughly the same amount as Donald and Co. have "invested" in SAFC after the parachute payment is deducted? Now I am confused.
i now wonder if Tony Davison didn’t like what was going on and created the ‘too far from home’ excuse, or is that me putting him on a high pedestal and he was as complicit as the rest?
I will eat my own cheb end* if FPP spent £3m on DD My mrs works doing DD on deals worth billions, and the DD is generally 6 figures unless the deal is a super complex affair with many companies, lots of restructuring or debt, shares and financing. * I won't though
I think it's fairly obvious that FPP didn't just decide, off the cuff, to do DD with a view to buying the club. It's my belief that they paid out for informed advice, feasibility studies, legal research, etc. These were detailed and far reaching. Every aspect of the club was explored from the AOL to the area around the ground. I know how quickly advice from top accountants, solicitors, surveyors, etc can mount up so nothing would surprise me.
if Donald is here when ever next season comes we are truly ****ed and wont be anywhere near promotion
Agreed. 3 mill. No way. So I ask in this era of fake news where did this figure come from. Show me proof that it is correct someone. thanks.
Just thinking aloud really but wonder if FPP were pissed off at 'losing' £3m doing DD that their way of getting the money back, or part of it, is via interest on a loan hence the £9m 'investment'. I'll be surprised if it's anywhere near £3m unless, as suggested, various feasibility studies were done but realistically did they have time to have them done thoroughly? As Campbell was more or less going to be the owner through the summer I can't see that FPP would have been having feasibility studies done at the same time, I think they'll only have really ramped up their interest after Campbell withdrew (or Donald pulled out). So not sure these could have been done so DD probably a lot less and the interest on £9m would cover it.
£3m is far too much though. It's the equivalent of the due diligence and for a merger between two international airlines or similar. Mrs says a max of £1m for national market DD/deal advice. She's currently working on this for a premier league club on a deal with a value at least 10x our club, and the DD is not in 7 figures.
I'm sure the lad said apparently, not that he had written proof. However much it is, it's a big lump of money and indicates a certain interest ... ... I don't think the actual amount is critical. If they only ever intended to loan money there was no absolute need for DD.
I don't know of any major organisation that would allow outsiders to register a company at their address ... ... the idea is ridiculous, I personally wouldn't allow anyone to do it. I'd be happy to bet no football club has ever done so in the history of the game.
I'd be happy to bet no club has been bought with it's own money that it doesn't have yet either. I wouldn't try to second guess what Donald and co would let FPP do to try and get money out of them.
