To add to my thoughts on why KLD doesn't just buy their shares. Rich people don't get super wealthy by just paying what is asked for things, they are generally incredibly tight with money. They may well have agreed a price, but as in all walks of life things change and maybe now their is probably something appeared that in KLD's view had lowered the value of the club. He has and should have ever right to renegotiate the price. In my simple head, it's a bit like me wanting £20,000 for my car, someone comes to see it and agrees to buy it but wants a test drive, on the test drive he discovers it needs a new clutch, so he comes back, informs me of this and offers £18,000. Technically the man has gone back in his original deal, but he is only carrying out sensible due diligence and reduced his offer accordingly. Standard business practice in my head
Also, KLD doesn't have to buy their shares to be in control of the club. It would make no sense to buy 39% of the club when he and JS are the majority shareholding (assuming they don't fall out)
Does Sartori have voting rights? For some reason I thought he might not, in which case there's absolutely no need for KLD to accept anything other than the lowest price for any shareholding he wants.
He's on the board so yes. Ultimately the decisions for the running of the club would come down to a vote. Assuming KLD/JS are tight, then their 61% overrules anything that the Oxford Twats would try and do. Having said that, there seems to be some sort of executive agreement that KLD has full control of the club - appears that it was a condition of his purchase of the 41%. Which, in my opinion means KLD has played a blinder
Let’s be clear tho - 99% of decisions at a football club aren’t made at board level. The majority of decisions are made by the people running the club - and that’s KLD and his team.
Yes and no. He’s played a blinder for the current situation. But him having 41% AND control is going to make Donald and Methven’s 39% much much less attractive, unless he’s willing to share that control. It’s why it has to be bought by a close acquaintance or himself. Any other party makes zero sense.
Our fan base is so bi-polar in terms of people at the match v online. So many of the internet lot are so fragile and negative. Assuming the worst, catastrophising the situation in their head ad spitting it out on message boards, rather than just engage their brain and think for a minute. The whole TFT thing makes no sense. They don't have money, they essentially want Sunderland fans to buy their crypto ****e which they will use to buy shares - isn't going to happen. It does Methven no harm in allowing this story to build, even just by acknowledging it's existence, as it potentially gives him leverage in another deal. Or perhaps it just amuses him given that there is no love lost between our club and that man at this point. Even thinking the disaster scenario through of TFT somehow being able to buy the shares, it doesn't really make a difference. KLD has control of the club. That doesn't change. He can continue to invest and if TFT can't match that investment, then their shares will be diluted to the point that KLD gains a far greater share percentage without actually buying it. If somehow TFT could both afford the shares and afford the regular investment whilst also not having control, why would we care that much? I'm certain it won't be TFT anyway and we'll get the true story soon enough. People just need to be patient.
It depends on what any potential investor is expecting to see as part of their purchase Spend £11m (reportedly) on 39% of a Championship club. Invest on a pro-rata basis for 5 years (for example) then sell for £119m when the club is promoted to the PL (based on the value of the mags) Not a bad return. Not all investors will want control of the day to day running of a club. We are an attractive proposition for anyone looking to make some money.
Agree with all of this. Sunderland fans don't half know how to suck the positivity out of the room Anything positive - dismissed as bull **** and fanciful, regardless of the source Anything negative - latched onto as Gospel, regardless of how fanciful it might be, or how unsubstantiated it is
The two chancers want out because there scared of exactly this not being able to stick there pro rata amounts in and having there shares diluted and thus losing more cash so let’s all chill and let it run its course
Dumb and dumber can’t sell their shares without KLD approval, so essentially the shares are worth only what someone who has his approval offers… Or if each time they hold on they will have to reduce their shares in the club because they can’t afford to put in the same at the other shareholders for the running of the club. KLD has them backed in a corner, they either sell at a reduce price or end up with less shares and empty pockets…
Such is the nature of a forum I suppose, Myself, I am completely uninformed, and if only people who are informed posted there would be not much of a discussion On another note, a lot of people are describing kld as a billionaire, but we were told he gets his money when he is 25, which is not till December
Got to hope KLD is just playing the long game. That Methven and Donald know their price is inflated and so are inventing "acceptable offers" to justify their price to KLD. KLD's statement last night was mature and professional and basically called their bluff, saying bring it on but there's no chance they get through EFL muthafuckas KLD is probably hoping that eventually they'll come back to him and reduce price.
But if they did fall out moving forward that would be a problem. That could easily happen in any business.
