Theyve changed the process in the last few months - every takeover will go through this. It’s a complete new regime at the EFL.
I get why Donald would have to show proof of funds, hes massively decreasing his shareholding so any funds he needs will be drastically less than what he requires if the takeover falls through and hes left in charge. Makes no sense to me either how the EFL want assurances for upto 2 years for minority shareholders????
yeh I’m not saying they’ve executed it well, just that it’s better than it was if it means people who don’t have liquidity to own a club aren’t able to in future. It’s awful and unfortunate timing for us but it’s still for the greater good. And I’m pretty confident it will be an irrelevance to us pretty soon anyway as it’s just an extra hoop to jump through rather than a mountain to climb.
I don't know either, but i'm guessing the EFL have took a lot of heat after the debacles at Wigan, Birmingham Charlton, Coventry etc. I think they want to be super forensic in their fit and proper test now.....Just typical its Sunderland tho eh!!
Unless he is in a ****load of debt elsewhere. He may have creditors elsewhere that won't hang around waiting to be paid
Am I right in thinking that KLD is running the show and is so far in now he is in control of all that is happening at the club in regards to recruitment and decision making at the top Is it just little bits being sorted and rearranged before any announcement. Any timescale on that??
But that doesn’t make it better does it? They could put people off investing altogether. They have over compensated as you say for being incompetent. But I don’t see how SD proving funds is going to prevent what has happened previous, I could understand it if he had the majority. Do they think that if SD called it a day, didn’t have the money to put in then KLD would say, oh well **** it, if you aren’t, I won’t. I will just let the club go down the pan and lose whatever money I have put in so far. What they are asking for, does not make one blind bit of difference to the takeover, not one jot. What happens after two years? Will they ask the question again? What about all of those clubs that asked for the bail out, will they be asked to prove how they can operate when that money dries up. They are ****ing pathetic
If this is actually what the EFL are doing I find it pointless. I was told Donald was buying a large spa hotel complex with his profits. He could easily show that money, in his account today, and spend it tomorrow rendering the EFL checks pointless. Meanwhile it looks like the FPP lads are continuing to 'invest' in football, Platek now looking to buy a club.
Nail on head,marra. I can understand that the EFL would want to clear an incomer who is purchasing control,but vetting every shareholder,particularly when they are reducing their holding,is pointless. Even then,peoples' circumstances change from one year to the next.....is this to be an ongoing annual audit of EFL clubs' shareholders to make sure their finances haven't dipped in the previous year? FFS, the net worth of many wealthy people fluctuate quite wildly from year to year.
Good point mate. The fact is, there are loads of clubs in a much worse financial predicament than Sunderland. Are they going to investigate them all as a result of 'a policy change by the new regime'?
If a dozen investors ever want to buy a club some of them might die out before the EFL has finished checking.
