@Magnus might be able to solve this Sd never had 100% Wt did he hold Now dose he hold 15% of what he had before
Poor article cobbled together but with little understanding of how the process works Absolutely no way it would have got this far if FPP or their lawyers hadn't been involved Very interested to see if they stay involved
I've just gone through it again. What he's saying is that a price has been agreed before due diligence has been done. Which is basically, "OK I'll give you £22m oh and, btw, do you mind if I have a look at the books to be on the safe side." Nonsense.
It’s hard one to explain and probably better to come from someone who is an accountant but from what it looks like is Madrox owns Sunderland Madrox % are split SD 74% JS 20% Cm 6% who all have the own company’s Set up to own that % Donald 100% owns the company who has 74% JS 100% owns the company who’s owns 20% Cm 100% owns the company who’s owns the 6% Sorry best way I can explain it
That Guardian piece is the first media article I've read that said Donald would be keeping a 15% stake. Anyone think it possible this was a deliberate leak to get that out in the open before any official announcement was made. It's a good way to see what reaction the fans have about it and in the main, some disappontment him and Meth keep a minority stake but much more happiness about new owners coming in.
My guess based on what we’ve seen so far (and it’s a guess) is that Donald is selling 60% of his shares in Madrox to a consortium including KLD and others. Sartori keeps his 20% Methven keeps his 6% (which has been misreported by the guardian - makes no sense him dropping to 5%) Would leave Donald with 14%. How that remaining 60% gets split is what I’m interested in. Nobody seems to know that yet (only Roker Report have said it’s all 60% for KLD)
I think you looking a bit to much into mate, it looks like you are working out 15% of 74% rather than a straight forward 15% of Madrox which I believe the reports are saying he will have, in essence he selling 59% of his shares in Madrox which leaves him with 15%, I understand tho that your saying 15% if his 100% steak but wich is 74% of Madrox......think I've got that right
im sure I read a report before saying JS and the kid to own 60% So if that’s true be interesting To see what happens with other 20%
I hope so. my issue with that (and I’m using issue very lightly here before people suggest negativity!!!), is that it would dilute either one of Furhman or KLDs equity. Let’s assume 40% is JS, CM and SD. That doesn’t leave many ways to split that remaining 60% and leave one controlling party. Ideally we want 1 of them to own at least 50% of the company so that they get the deciding vote. Which would mean one of Fuhrman and KLD would need to own less than 10%
That’s what the times say - it says Donald is selling them 60%. But Sartori already owns 20%, so that’s 80% total owned between them.
Another thing to add - I think we can all agree it would make zero sense for the FPP loan to not be paid back. So either they have a stake now or they’re gone. Surely?
I was told last week that Furhman would no longer be involved. The other about mentioning the others linked and we were miles off turned out correct, really hope the info about Furhman isn’t.
