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Stewart Donald resigns as chairman

Discussion in 'Sunderland' started by Dave_39, Jul 18, 2020.

  1. Gil T Azell

    Gil T Azell Well-Known Member

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    Might not be much but I will settle for that little bit of positivity.
     
    #21
    Sandy Camel and old lads fan like this.
  2. Nads

    Nads Well-Known Member

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    Ill take your little ray of light mate. Let’s go with your thoughts.

    Acorns and that.
     
    #22
    Sandy Camel likes this.
  3. Blyth_bucaneer

    Blyth_bucaneer Well-Known Member

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    Doesn't make much difference to be fair.The club will be ran by one of his puppets, he'll just spin the "well the fans wanted me to go" line. Another step closer to administration.
     
    #23
  4. Gil T Azell

    Gil T Azell Well-Known Member

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    BB, we were clinging to crumbs of comfort until you came out with that possible scenario. You utter utter c*nt <laugh>
     
    #24
    Last edited: Jul 18, 2020
  5. DH4

    DH4 Well-Known Member

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    Yeah Stewie will say that when a 140 year old institution went bankrupt it wasn't on his watch it was all the fault of that Rodwell bloke. Then he can move on and fleece some other distressed business before they too go bust. I am really worried that we will not have a club at all in a couple of years if he stays.
     
    #25
    Blyth_bucaneer likes this.
  6. Nads

    Nads Well-Known Member

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    Let’s just go full bastard and imagine a takeover is close and the new owners are concerned about his comments about fans fracturing further the relationship with the club and us.

    Its complete fabrication and speculation but it’s a lovely idea so I’m hoying it in the pot.
     
    #26

  7. C19RK73

    C19RK73 Red & White army!

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    Somethings going on that’s for sure
     
    #27
    Smug in Boots and Gil T Azell like this.
  8. Iansun

    Iansun Well-Known Member

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    I personally think it's to do with the finances due out .
     
    #28
  9. C19RK73

    C19RK73 Red & White army!

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    I hope it’s not so he’s not down as chairman when we go into administration
     
    #29
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  10. Robertson

    Robertson Well-Known Member

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    It doesn't make sense that Stewart would let us go into administration, and get nothing for us.

    Not when there's a £16 million offer on the table and others interested.

    Am I misunderstanding something?

    Chuffed that's he's stepped down. At least he's acknowledged failing and handed over the decision making (if he has).
     
    #30
    Last edited: Jul 18, 2020
    John 11:35 and Sandy Camel like this.
  11. Nacho

    Nacho Well-Known Member

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    Feel this is Rodwell doing his job and taking the bull by the horns not just some shady manoeuvring by Donald. If it was that then he'd have left his mates Hill and Coton in their jobs.
     
    #31
  12. Nads

    Nads Well-Known Member

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    So there’s heavy breaking that a local consortium have the funds and have put an offer forward, so turns out my speculative Hail Mary was maybe on the button.

    ITK and I didn’t even know....
     
    #32
  13. smithy in nl

    smithy in nl Well-Known Member

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    @WiseMenSayPod
    As we mentioned on last night's podcast, we've been made aware of some of the details of the bid from a "local consortium" to buy #SAFC that Stewart Donald acknowledged in Thursday's meeting. We think it's worthwhile clarifying a couple of things:

    Our understanding is that the bid made would effectively see SD 'break-even'. He was offered what he has put into #SAFC to date (we actually think it may be slightly more) and would not have to repay any further funds to the club. The bid was rejected out of hand.

    If SD has been offered £15-20m, it is more than most would agree #SAFC is worth. Regardless of how much he has paid. And from what we can gather, the local group have the funds to take the club forward. The bid is only 'low' comparative to SD's daft asking price.

    As we mentioned on last night's podcast, we are told the local group were willing to take on Madrox's liability to FPP, if FPP agreed. The likelihood is they would pay that back, leaving that money in #SAFC, and then proceed with putting their own money into the club

    *** packet maths but if they've offered his money back, happy to meet the FPP liability and willing to fund #SAFC in terms of its needs - so, the monies that were removed - that could be about £46m straightaway. Our understanding is the group has that and more to fund things.

    Obviously lots being said at the min but we believe what we've been told and believe it's a more than fair offer. Whether it's even on the table any more, we don't know. But if SD wishes to be true to his claims on Thursday we believe he should have entertained the bid.
    #OurFault
     
    #33
  14. Nads

    Nads Well-Known Member

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    Was just cropping this to paste so you’ve saved me a job, hi 5!
     
    #34
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  15. Somebodys pinched my sombrero

    Somebodys pinched my sombrero Well-Known Member

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    Clutching at more straws than a masturbating scarecrow <laugh>
     
    #35
  16. Nads

    Nads Well-Known Member

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    Well I was, then within mere minutes news broke of a bid, and not a mass murderer, slave trader or pirater of copyrighted materials in sight <laugh>
     
    #36
  17. Somebodys pinched my sombrero

    Somebodys pinched my sombrero Well-Known Member

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    Is it the one Micky Gray’s leading?
     
    #37
  18. flandersmackem

    flandersmackem Well-Known Member

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    At this stage I think most fans would accept a buy out from Saudi, Iran or North Korea to get this chancer out of SAFC
     
    #38
  19. Nads

    Nads Well-Known Member

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    No idea mate. To this point it’s just ‘local consortium’ with ‘funds to purchase and take club forward’.

    Its likely to be the one Micky is trying to put together, who the financiers are is a mystery at this point.
     
    #39
  20. Iansun

    Iansun Well-Known Member

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    I hope I'm wrong also
     
    #40
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