Yeah but it is qualified by if Short believes bid is in the best interest of SAFC (not himself ??)- I honestly believe that he will honour that commitment and perform due diligence on bids - cynicallly though others will believe he wants out and will do the dirty on us But it was in the Sun so I,m not .......... but it must be true its in the Sunderland Echo - lol
So pretty much like most other premier league clubs? Very few football clubs at any level run at a profit (was chatting to one of the board members at Blyth Spartans the other week and they're running at a loss too) - our debt is to him and is interest free from what I remember. If the club doesn't sell for a specific amount he cannot claim it back - like I say I'm only going from memory but I'm certain that I read that. What if he sells to a "Vincent Tan" type owner?
There's been a video, posted by Charlie and Tees, recently that got very little attention on this board. It graphically illustrates the financial mess your club are in, very simply so that it can be understood by pretty much anybody. It seems a very popular topic to discuss on these boards, but it seems a lot of posters are happy to overlook the informative video and work on their own assumptions. I reckon your owner will have no choice but to write off that debt, he's ran his ship like a complete clown and nobody else will be willing to clean up his mess at their expense.
I watched it and as you rightly said, easy to understand and very informative and just nails it right on the head why SAFC are in such a financial mess and here it is if anyone else doesn't understand.
This is the third time I've watched this video and while its very informative about the finances, to me it raises one or two very important questions. The conclusion that I, and I assume most people, must draw from this video is that improved performances on the pitch would improve merchandise, corporate, and matchday income. So why, despite the huge wage bill and the high player and high manager turnover, have results on the pitch not improved? The logical conclusion to that is that the people making the decisions about managerial appointments and transfer budgets are making poor decisions. Those managerial appointments are then making poor decisions about player recruitment and/or struggling with the budgets they are given. So why hasn't the man at the top stopped and considered all of this?
It looks like he has mate, and he's decided it's too messy for him to deal with. I reckon he'll put this down as another risk asset, and write off the loss. If he does that, and sells you for a reasonable price with no debt, he should be commended for what he's done. If he chases the money back from his own mistakes, then he's the opposite.
Not ran the club as a clown but according to a his mindset as a successful venture capitalist (a risk taker) but most of he risks he took failed big time. But I really think he has got the club's best interests at heart - We are a sleeping giant (have been all my life) with all ingredients but a winning football team and we need a financial kick like your neighbours
There seems to be a lot of sleeping giants, I'm beginning to think many of them are in a coma rather than sleeping.
Totally often with comatose fans - lol We have more passionate comatose fans with attitude - little success tho'
haha, that's why I said maybe It depends on what happens in the next few weeks. If Moyes manages to get a few more points on the board so that we at least keep up with, if not leapfrog, the teams in front of us then I reckon he will take the risk and invest. However, if we fail to win another game and drop further behind the teams in front of us, then he will probably write this window off except for the money we can make off player sales - which I hope we don't do because I like our prospects of coming straight back up a lot better if we keep hold of players like Pickford, Watmore etc.
I disagree, most are making money in our league. Besides, i don't care how other club's finances look, I only care about ours. We're hemorrhaging much worse than any other club in the league at the moment because we don't produce enough revenue. If he sells to a Vincent Tan like owner it will just prove my point. He doesn't give a **** about us. Not even enough to consider who he sells to.
Short has put millions of his own money into the club. Lots of those millions have been converted to loans. The finance company is part of his business empire. They are charging 8% interest. Yes 8% in this economic climate. They`ve already had £6m. Short is being paid by the back door. I`m not suggesting for one minute he should just keep piling his money in for free and forget it but I don`t think Short is the knight in shining armour he`d like us to believe. By his own admission he knew nothing about running a football club. Why he didn`t bring in people who did is beyond my understanding. He seems to be doing that now but it`s way too late imo. Whether the financial situation can be salvaged remains to be seen but it seems to me to be in a right royal mess.
Good post Pops, the voice of reasoning and sense, it comes along with mature years, I should know I'm only a year younger than you.
Sunderland football club is not a sleeping giant. Up until the 1950's we were one of the biggest clubs in English football. That makes us a former big club, not a sleeping giant.
He will only sell to the highest bidder? I suppose it depends on what you read. Ellis Short is open to offers from anyone wanting to buy Sunderland but none are believed to be on the table and it could, realistically, be a long time before any deal is done. Price threatens to prove a key stumbling block as Sunderland’s owner is believed to want around £170m for the Premier League’s bottom club which currently has debts in the region of £140m. However the American financier is said to be far from desperate to sell up and will only do so if he feels it will be in Sunderland’s best long-term interests and the new owners can fulfil its considerable untapped potential. http://www.msn.com/en-gb/sport/prem...-club-starting-at-£170m/ar-AAkXUkd?li=BBoPWjQ
The price he is paying for our non-success on the footballing side. Not his incompetence in other areas, its a common trait for us clubs outside the top six and for all we are in debt the brochure may attract other investors rather than buyers. Just as a comparison, Crystal Palace's accounts should be interesting next year when their increased wage bill is factored in. They have spent big but are stuttering on the pitch.
