S.A.F.C. - the future

Also suggests Dreyfus was involved in the managerial changes

 

Won't let me read that says have to log in etc. The Echo website is absolute AIDS.

 

Open your browser incognito and you will be able to read it

 

This.

That Shaun is an absolute tit though. Embarrassing that the idiot has a bit of a platform.

 

Explain how to do that please

 

You have to wear a cap and shades.

 

top 3 dots at the right of your google browser, there will be the option of 'new incognito window'......press that then search sunderland echo in the search bar etc..

 

On google chrome, press the menu key and hit go incognito.

 

main bits about takeover :

The takeover of the club by a consortium led by Kryil Louis-Dreyfus and Juan Sartori was reportedly to be concluded in early December.

Jim Rodwell's intervention in the build-up to kick off at Sincil Bank suggested that the wait is set to go on a little longer, at the very least.
Rodwell did confirm that there had been some dialogue with the EFL regarding the deal. This represented a significant advancement on his last remarks, when he merely confirmed that the club were in a period of exclusivity with a buyer. It affirmed that while not done, there can be some hope that change may be on the horizon.
He also, encouragingly, said the will from all parties to conclude the deal remained.

Sunderland's CEO also conceded, though, that this was the most complex takeover he had been involved in, and though his comments were limited, they hinted at some of the issues slowing a conclusion.


He alluded to a loan that has to be settled, referring not directly but quite clearly to the significant sum that will have to be repaid to the FPP group when a deal goes through.

There are clearly issues to be settled and for that reason, there will be an understandable caution across Wearside.

Rodwell himself conceded that, noting that Sunderland supporters have been down this road before.

Firstly when the aforementioned American investors moved to the brink of what could have been a transformative takeover, before instead opting to loan in funds (an arrangement which means they still hold a charge over the club and its assets).
Before that, when key members of Mark Campbell's team were sizing up their offices at the Academy of Light, only for the deal to collapse and for club sources to suggest there had been concerns over funding.

The club's failings in the interim mean trust in the current regime has been entirely eroded and into this mix can be added the financial concerns of the COVID-19 pandemic.

After all, it was comments allegedly made by Stewart Donald at a meeting of League One bosses that had forced Rodwell into breaking the club's silence.

Donald was said to have claimed that the club could enter administration without support. While Rodwell said this was not the case (and that was a welcome move), he did not directly deny that the comment had been made.
The issue is this: As it stands, Sunderland will receive a £375,000 payment as part of the EFL bailout. They will also receive a portion of a further fund of £15 million, distributed proportionately based on lost gate receipts.

There is a £20 million pot beyond this, but any club who receives money from this pot will be subject to future spending restrictions.

Clubs can break these restrictions, but only if they then repay the money.

Sunderland are lobbying hard for a greater share of the fund, arguing that the current arrangements do not reflect the hardship a club of this size is experiencing as a result of the exclusion of fans from stadiums.


Supporters would indeed expect this, but it is undoubtedly a stance that raises eyebrows when it is widely known that the current regime used parachute payment money to fund their purchase of the club (and then wrote off the obligation to repay it).

In May, Madrox told The Echo that this debt had been paid down to around £11.5 million. Rodwell insists that process continues, with losses being covered to the tune of around £1 million a month.

The issue of the bailout could be a critical one, given that accessing that final pot of money could limit a future regime's capacity to invest in the team, or make them liable to repay funds that are received in the near future.

Put bluntly, the takeover needs to be sorted so that this does not become an avenue that Sunderland have to pursue and as the bailout talks progress, this is a matter to keep a close eye on.


All of this underlines the key question that Rodwell is currently unable to answer: Is this takeover the change that Sunderland needs?

Supporters have been clear over the past year that their faith in the current regime to bring about long-term growth and stability is gone.

If a delay means that Kyril Louis-Dreyfus is able to take the kind of stake that will allow him to oversee meaningful change, then that will likely be seen as worthwhile.

On this, though, there evidently remains much to be determined.

 

Basically doesn't say anything new other than Dreyfus was kept informed and was involved along the way

 

Cheers mate.

 

Is that the Sunderland TV lad? Fella in his 50s but dresses like a 12 year old. Sure he keeps tonguing Storeys hoop anarl.

 

the bloke is an absolute clown , the day i start listening to someone who wears a cap like he's 14 is the day Donald decides to tell the truth

 

Obviously not just me that noticed!

 

He doesn't speak for me

 

This

 

From what I've read here and over the past couple weeks,
This points to @Niall Quinn’s Dad being pretty much correct.
To me it seems that, as he stated,
Shares were just a reshuffle and the original three holding the majority.
Now it seems KLD wants a decisive share and quite rightly if he is the major money man.

Obviously I'm not party to how much Sartori, or anyone contributes although there was talk that Sartori funded the likes of Grigg's signing etc.

But it does smack of KLD needing to be the majority share holder due to being the biggest financial influence.

Anyway I'm happy with the way things seem to be progressing at the moment and hopefully it's all sorted sooner rather than later.

 

Aye. Absolute clown he is.

 

I wouldn’t want the two leeches hanging on either, I would maybe make a deal to give them a bonus on promotion but deffo wouldn’t want them hanging onto shares, absolutely not

 

Interesting roker reports latest comments said KLD will be the single largest investor in the club, suggesting things have changed since the 40-40 split with JS. Fits with what was on here