I've absolutely no idea what he's talking about but there's no need for a ban ffs .... ... some of the pro-wums post things much worse tbh. Once your username becomes too well known you're doomed on that forum.
I certainly know what you mean It not worthy of a ban but he’s missing a pork pie from his picnic basket imo
The value of something is whatever someone else is prepared to pay for it. That Bloomberg article says “up to £40m”. These deals are normally presented as a valuation range and it could easily mean £25m to £40m or £35m to £40m. Who knows - but saying that you are looking for a price of up to £40m is not the same as saying that you are asking for £40m. Football clubs are very hard to value because most of them always lose money and other deal info is hard to find. As seen with SD purchase of SAFC the headline price, even if you know it, is less than half the real picture. How much debt, cash, length of key player contracts, etc. It’s not easy. All we do know is that a £28m sale price is enough for FPP to be paid back and for SD to walk away with the original money that he put in. His £6m loan and then the initial equity. Does he deserve not to make a loss? Well the club was losing a huge amount of money when he came in. Although cost-cutting is the easy bit, growing a business is not. Personally I don’t see why anyone would offer over £30m given the situation and how much investment in the playing squad is needed. Even to offer that much would only be to get the deal done quickly by someone who had money to spare. That is why FPP are happy to wait it out in my view. Their loan is not really at risk, time is on their side. I don’t know the exact terms of the loan and how it converts to equity, but at a guess it will be something like 51% with an option to buy the rest at the same value, ie £19m or something. Which leaves just enough for Madrox to pay back SD his loan and leave it with the same equity that it started with. So that is the worse case for SD, perhaps, to hand over the keys to FPP. This is probably why SD can dig his heels in looking for another buyer. Any other buyer has to bid enough for the club to be able to pay back FPP as well. He probably doesn’t have to accept a bid that forces him to take a loss, as the FPP deal provides a floor for him. I might be wrong about the 51% though, so maybe it is lower than that, but there will be a floor valuation of some kind. So all that is happening is that SD is looking for someone to outbid FPP, and clearly failing. What I don’t know is whether there is a timelimit for this and a point at which FPP have to be paid back or handed the club.
If, as Donald says, he's not touched the £9m loan and it's sitting in an account somewhere, he gives that back to FPP, he'd not need the £28m. He'd only need to sell for £19m to break even. Or am I missing something?
Bob I think one thing that I'd an x factor here is that buying a football club as a separate entity (the 3 in FPP) is not the same as managing the MSD funds they usually administer in terms of personal responsibility and satisfaction. There's a non-financial gain for them that most other investments don't come with. As for the price, I think it's closer to £20m. I was going to make this point. The money was put into the club but it still exists within it unless Donald has spent it all. If it's still in the club it won't contribute to the purchase price in practical terms, as anyone paying it would effectively be getting it back once they assumed control.
What I've never been able to understand is why owners put in a 'loan' to the club to run it and expect that money back. Surely being there own company it's down to them to cover the running costs whatever they may be. It would be like buying a Ferrari for 150k and then getting a 50k loan to cover insurance costs, petrol, new tyres, gearbox if it goes etc and then saying actually the car is worth 200k now. I just don't ****ing get it and it pisses me off massively how these arseholes can try and justify it... We were over 150m in debt before ES sold to these idiots but we weren't really were we because it was mostly money Short put in to cover his piss poor performance so why should the next incumbent have to pay for me being an arsehole and ragging the Ferrari and completely destroying the gearbox! It's my stupidity, I pay for it or sell it for less the cost of a new bastard gearbox! Thankfully ES saw sense and decided to 'wipe' the debt, well ****ing done Mr Short, my bastard hero! Apologies for jumping in and out of analogies but I'm foaming and I'm done with this **** (I'll still be back when stadiums reopen though )
No - it’s basically the same thing. The £9m is currently with SAFC. So whether he takes it back and gives to FPP and sells for £19m or doesn’t take it back and sells for £28m and gives FPP £9m of it makes no odds for him. But that assumes it is unspent.
Can't ever remember people wanting the Irish consortium out and for 5 owners you'd have to go all the way back to Cowie's time, pure bollocks.
Bloody hell thats why mad bob is missing from over the road he’s giving his wrists a rest after writing all those letters
You can't include letters from your mam asking you to stay, that would account for most of the requests to stay. For a PR guru, he is ****ing ****e
I'm looking forward to that Chris lad taking over when SD leaves as he has been telling us 12 times a day on social media how not to run a football club so I'm looking forward to a masterclass with Chris and us flying to the champions League final within 5 years.
Tbf to the lad he's been saying a lot of things about them from day one which a lot of us, me included, didn't want to hear. He has questioned a lot of what they've said, especially with the finances, and hasn't let up and I'll be honest, I'm pleased he has and hasn't given in as he's unmasked a lot of the lies and untruths. So imo fair play to the lad, with his accountancy background he's more abreast of what has gone on than a lot of us and highlights it, fair do's.