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.
The pressure continues https://www.dailymail.co.uk/sport/f...t-Donald-charge-club-mammoth-9-base-rate.html
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.
The club will potentially receive and interest bill from Donald which it should really be serving to Donald. That's how.
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.
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.
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.
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.
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.
https://thisisfutbol.com/2020/05/tw...navian-scout-janne-wilkman-has-been-released/ It's the weekend...
Another nothing story. Wtf is a scout supposed to do when there's no football matches to see? He himself says it's because of coronavirus
There’s an end to our glut of Scandinavia superstars, gutted. Although sartori will plug that gap with the Uruguay superstar production line, panic over
Roker Report keeping the pressure on.. https://rokerreport.sbnation.com/20...s-owners-who-can-really-take-the-club-forward
Scott Wilson keeping the pressure on https://www.thenorthernecho.co.uk/sport/18510863.stewart-donalds-departure-way-salvage-sunderland/
