Serious takeover talk

Is it you or GOM who isn’t remotely worried?

 

Good to hear that he isn't worried. I wasn't either tbh just sounds like they have them over a barrel and want to get the club as cheap as possible.

 

It's GOM who said that he wasn't worried.

 

Cheers, was just about to post that.

 

Their reputation is spotless in that regard. You only have to look at what they did at Miami Marlins to see the most likely outcome.

However RTG being RTG they're talking about the SOL becoming a massive Home Bargains and the AOL getting demolished

 

GOM

 

Well Ive just said that myself.. albeit tongue in cheek... not sure Sheepfolds as far as realty is concerned is worth anything like 10 million.. oh hang on.. that gold stuff we used to leave behind when bringing up the coal might have something to do with it

 

Did they takeover them in a similar way?

 

Don't encourage them, there's probably a 200 page conspiracy thread claiming they're open cast mining in the middle of the pitch

 

They haven't taken over but they own 7% of the club and haven't started fracking their pitch yet

https://www.sunderlandecho.com/spor...sight-fpp-sunderlands-miami-masterplan-633891

 

In all seriousness though, surely we've (SD and CM) have mortgaged the club.If we fail to repay, FPP take full ownership? Thought Wonga had gone out of business but it seems to me like a bigger version of a pay day loan... Promotion being the payday....

 

I can't believe people on here think the club is only worth £9m which is the reported amount of the loan. If you don't pay the loan you owe the loaner £9m, the club is worth more than that so why would SD enter an agreement that would give the club away for £9m when he could get a secured loan from any bank which much better terms.
People posting on this thread appear to want SD to fail to make the payments and think that FPP having him over a barrel is a good thing, Why would SD,CM and Satori agree to that?

Ronnie

 

It confirms a few things

FPP aren't as green as they're cabbage looking as me gran used to say

Charles Methven is an incorrigible liar

And Stewart Donald has no intention of putting his own money in at this point

Yes they've mortgaged the club but it's worth more as SAFC than as real estate. That and FPP don't have a history of asset stripping going concerns.

 

Prefer B&M to be honest

 

As long as Stewart isn't branch manager I'll shop there

 

What did Methven say like? I missed it.

 

"The arrangements between FPP and Madrox...have no financial connection with Sunderland AFC." https://t.co/CHb5AGTltd

 

The pitchforks are well and truly out.

 

He said that the American investment had nothing to do with SAFC.

 

Something doesn't add up. Why would we need a £10m loan, if as Donald has said we are debt free and have the final parachute payment coming in, and average crowds of over 30,000? If Donald and co. need to borrow £10m just for the day to day running of the club we are up **** creek without a paddle, how could they possibly pay it back if they are needing to borrow to "get by" . Now we hear the loan is covered by the assets of stadium and training ground. No wonder Donald has gone into hiding, Methven will be holed up with him soon as he categorically stated that the loan was nothing to do with the club and the debt was on Madrox.