Think Ndong has seen what Rodwell has done and decided to do the same and suck the club dry. Pair of cretins
As has been said Torino won’t be able to pay him much, it won’t be an issue him agreeing terms with Cardiff or Lyon.
Whaddya mean ‘back in debt’?.... we are in debt and need this ‘blood sucking’, ‘money sapping’ bastards off the wage bill pronto!!
We need to rise again from the bottom, for a lot of fans the only reality is staring down the toilet after a ****, it's been a bad few years.
Yes BUT. There remain the cashflow. Players bought on terms. A sort of hire purchase. There is no indication that these outstanding commitments have been paid up. And while they were not a problem when we had Prem income, they will be now. So if we can shift these players away, get these outstanding payments met it means we have more to invest in getting out of this League. Then of course there is the wages question. While we don't know how much the likes of N'Dong is being paid (I guessed £40k a week and caused a right stir), we would I'm sure prefer not to have to many players on wages many times above the average for this league as, once again, this will restrict what will be available for 'investment'.
There's certainly still some level of debt, it's just that instead of being a crippling amount which was likely to cause administration and a huge barrier to climbing back up the leagues it is instead a manageable amount provided the correct burdens can be moved on. Rodwell isn't going anywhere, N'Dong will though as will Khazri, Djiliobodji, Kone, etc. It's still early days, the season only ended a month ago but it feels like years!
Our current liabilities and wage bill still have us in a position where we will run at a loss. Changes still need to be made
Good replies all round, and our situation well summarised, we will be on our way back once the burdensome dead weights and failures are removed from the club, two have gone already, but their is still some way to go. I am sure they will, and soon. Onwards and upwards.
I've just had a thought I expect that Pickford's transfer was also done on a 'HP' basis as well. It POSSIBLY also had add on's, some of which may have clicked in now that he's an International. So, it's just possible that we may have some funds coming in to compensate for what's going out. Obviously this is all guesswork.
I took the initial headlines at face value, - Ellis gave the Club away free and cancelled the debt, so this is news to me. Still a good deal to the new owners but it makes the outlook just a tad less bright. And while if the £40 mil is secured against the parachute payments it must mean that it's The Club rather than the new owners who owe debt. (I'm more than a bit out of touch but I don't think that any company can provide security of it's assets for the purchase of it's own shares or for Shareholder or Director personal liabilities, but using the MU Takeover as an example, good Lawyers can achieve a lot).
I don't know the specifics of this deal at all - just to get that out of the way! A company is its own legal identity and whilst theoretically you wouldn't be able to leverage against it to buy it there's quite a few ways around that. Here what could be done is that Short gives the company away for free and instead of fully wiping the clubs debt to him he re-secures it, or part of it, against SD, CM and Sunderland so that if it doesn't get paid by certain dates by the new owners then he can claim the money directly from the income of Sunderland. There actually wouldn't be anything dodgy about that as it was debt already acquired by Sunderland so they aren't even leveraging the club further, they just aren't clearing some of the already outstanding debt. Whatever the situation I think it's very clear the club has gone from the brink of terminally debt-ridden to an unknown but probably ok amount of debt provided they don't overspend but do gain promotion!
