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Serious takeover talk

Discussion in 'Sunderland' started by Smug in Boots, Aug 21, 2019.

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  1. Robertson

    Robertson Well-Known Member

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    Cheers. Is CM in essence right though as the deal is tied up within Madrox?

    A politician's clever half-truth answer as it's nothing to do with SAFC apart from the ownership!
     
    #12521
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  2. Nostradamoose

    Nostradamoose Active Member

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    There's a clear connection with SAFC if every building has been put up as security. As the lads over the road have speculated that could allow FPP to take control of the stadium, AoL etc then lease it back to us or worse.

    Charlie thought it was a politician's answer but I'd say it's a full on porkie pie
     
    #12522
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  3. Rocky

    Rocky Well-Known Member

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    Methven is an utter ****
     
    #12523
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  4. Roker Mackem

    Roker Mackem Active Member

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    <cool>
     
    #12524
  5. Kittenmittons

    Kittenmittons Well-Known Member

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    I'm not worried either, but I will say that if Donald didn't think he could pay this back, he would be an absolute lunatic to enter into this agreement. It reaches far beyond Madrox and into all of the other group entities like SJD etc. He wouldn't just lose the club, he'd lose £20m+ on top and it effectively makes it a personal liability to some degree. They wouldn't be getting the club for £9m, they'd effectively be being paid anything above that sum that Donald owes (currently in the region of £20m).

    Like GOM, I can't see a schedule of repayments, but I would be extremely surprised if it's onerous or short term. Like I say, this is not an agreement you enter into lightly as the terms are very very harsh if he doesn't pay up.

    Upshot, however FPP come on board, it probably isn't via this agreement unless Donald goes bankrupt.
     
    #12525
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  6. Kittenmittons

    Kittenmittons Well-Known Member

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    In essence, you'd borrow from Peter to pay Paul, because Paul will break your legs tomorrow, whereas Peter will break them in a few years time.
     
    #12526
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  7. BigPete

    BigPete Well-Known Member

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    Don't get no 3 year chukie from me mind <laugh>
     
    #12527
  8. Nordic

    Nordic Well-Known Member

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    yeah, but he made his money asset stripping not building companies
     
    #12528
  9. FulwellBri

    FulwellBri Well-Known Member

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    Ellis was into hedge funds, not asset stripping.
    Feel free to demonize even though he spunked 200m into our club
     
    #12529
  10. HeatonMackem

    HeatonMackem Well-Known Member

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    Here's the part which suggests that there is an option to convert the loan into shares:

    upload_2019-11-13_13-38-30.png
     
    #12530

  11. Jack TheLad

    Jack TheLad Well-Known Member

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    So did big Charlie basically lie to the whole fanbase on the Podcast the other day?

    "No financial connection"
     
    #12531
  12. Dave_39

    Dave_39 Well-Known Member

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    yep he told a massive whopper
     
    #12532
  13. Rocky

    Rocky Well-Known Member

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    The Bullshit Brothers have seemingly ran out of goodwill.
     
    #12533
  14. Nacho

    Nacho Well-Known Member

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    It'd be more than a bit stupid if Methven was point blank lying about something that he knew would be shown to be a lie in a matter of days. If he did lie then so be it but I had credited him with more intelligence than that.
     
    #12534
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  15. CoolerKing33

    CoolerKing33 Well-Known Member

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    It's madness this like. Making a rod for their own backs.

    It would've been fine just saying that although technically the cash is secured against assets, the reality is it will be converted to share capital or they will be gaining full control of the club along with its assets further down the line. End of.

    Instead telling half truths or just outright lies and giving everyone a reason not to trust them. I've not criticised them previously, apart from on the recruitment side, but this just appears bafflingly stupid (their statements, not the agreement itself).
     
    #12535
  16. BigPete

    BigPete Well-Known Member

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    If they are gonna asset strip, sell the land etc like most people saying on RTG that wouldn't be in the loan agreement.

    They have as I presumed got SD over a barrel told him to show them what he can do or go.

    If we don't go up this loan won't be able to be repaid, then they will takeover on the cheap and can do it their way. If SD can do what he says he can which I and the majority of us don't think he can do, they take over anyway but he stays on for a bit and earns more money.

    Either way they takeover, but it's sped things along a bit with wanting full control themselves.

    A put your money where you mouth is test if you want to run one of our assets. If you're not up to it we get it cheaper and you jog on.

    They will have seen what methods they used to buy the club doing their DD so may know that may be in a unsustainable model as they don't have the funds to run the club and had hoped on going straight back up and flipping it.

    Elite businessmen won't pay extra for something that they know the previous person paid a lot less for. Maybe this is the amount that they actually put in to start with?
     
    #12536
  17. old lads fan

    old lads fan Well-Known Member

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    Or Satori pays the debt and they tell FPP to jog on, I asked before why would SD and co. give the club away for £9m and be publicly held over a barrel as you suggest?

    Ronnie
     
    #12537
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  18. BigPete

    BigPete Well-Known Member

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    That is true but what has he done so far?

    Maybe he may still keep his % and it would just be SD & CM who lose theirs so FPP are majority? Unsure who owns what % but never know.

    I think there is more at play we will soon find out and hopefully it just works out as a positive for the club.
     
    #12538
  19. old lads fan

    old lads fan Well-Known Member

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    Yep until we know a bit more we just have to hope for the best. KTF

    Ronnie
     
    #12539
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  20. DH4

    DH4 Well-Known Member

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    Then why didn't they just borrow the money from Sartori in the first place?
     
    #12540
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