If the price was 35 mill, but 20m of that was going straight back into the club, you can’t really argue, but as things stand it looks like sd wants the whole 35m
FPP to take full control
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(I hadn't agreed any such thing with Nads btw
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To be fair to @Kittenmittons I do remember him bringing this 20 mill debt up months ago.
He may have changed his stance on the owners in between now and then, but he's always stuck to his guns on the money that they owe.
He may have changed his stance on the owners in between now and then, but he's always stuck to his guns on the money that they owe.
Pay SD a few million more than the club is worth? Or a pay a few million more into the club? I know which one I'd prefer.
To be honest, I'm going round in circles about whether there is a plus side to this. Thinking about it some more, the value of everything drops £20m because SD isn't going to pay in £20m. So if they previously valued the club at say £30m, they would now value the club at £10m. Which doesn't help SD get his money back.
Yeah lots of nuances as you say, this is what I meant by there being lots to unpack last night.
I think it's odd if FPP requested this and then didn't buy us, because objectively it wasn't a massive amount of money to them to get all of us if they wanted to. That's why I think ultimately this was about SD and co. getting rid of their own liability to pay any money back that they'd promised to do so.
Aye, I'm trying to find the vig here mate, that's why I asked the question of everyone to see what people could come up with. What's the benefit here for the people making this decision? Why do it this way and not keep the debt there, which would be paid off by a new owner of Madrox? There are loads of weird nuances to this.
This is the key.
If it’s £40million, with that £20million sat in a club account, cool.
If it’s £20million without cool.
Stu makes about £10million, well I wouldn’t massively begrudge that as losses have been slowed.
If it’s £40million, and an empty set of club account, he’s looking at gaining £35million from spending the clubs £20million, and that, that isn’t ok.
That’s the crux of it. I don’t believe for a second FPP would have ‘loaned’ us £10 million with the club as security and not just paid another £5million, pennies to them, and just taken it there and then.
There’s a massive break in the chain and the asking price appears to be it.
I await the Sartori expose with interest.
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(I hadn't agreed any such thing with Nads btw
I haven't discussed this matter with anyone recently, never mind agreed with anyone's viewpoint.
In your twisted mind, though, anything is capable of becoming your new reality.
But they were trying to sell the club even before we were promoted (or not as it turned out) with Campbell being present at Wembley. Why would they do that if promotion was going to give them the riches to pay it off? Quite simply, they knew they were trying to do a quick flip and get out before everything was exposed which is now happening.
Maybe it's just the amount SD owes Madrox that is getting written off. So just Madrox (rather than the club) is worth £20m less because it still owes the club £20m. Then the new owners can easily pump £20m in without worrying about SCMP/FFP.
You know something about the timing lads, and it’s fairly obvious.
I would say the high profile takeover here in NE1 makes us more attractive to investors. Imagine the business and further reaching benefits to both clubs and the greater region to have 2 major clubs and investment that would follow 2 successful north east clubs into the area.
It seems a reasonable explanation for the timing of this blowing back up, it would shake the game up in England if Sunderland and Newcastle could suddenly compete, and weren’t relevant only due to fan base and our rivalry.
Would you see empty seats at the SOL or St James if we were competitive and well run? Would you ****.
There’s logic in their takeover reinvigorating ours.
I would say the high profile takeover here in NE1 makes us more attractive to investors. Imagine the business and further reaching benefits to both clubs and the greater region to have 2 major clubs and investment that would follow 2 successful north east clubs into the area.
It seems a reasonable explanation for the timing of this blowing back up, it would shake the game up in England if Sunderland and Newcastle could suddenly compete, and weren’t relevant only due to fan base and our rivalry.
Would you see empty seats at the SOL or St James if we were competitive and well run? Would you ****.
There’s logic in their takeover reinvigorating ours.
What's being exposed? As I said in another post, we know they paid for the club using the parachute payments, we know the presumed asking price is too high. The worst they've done is taken a little gamble that didn't come off at the first attempt. The main reason people don't like them is that we didn't get promoted. If we had, none of this, absolutely none of it, would matter. That they were 'trying to do a quick flip' is supposition. Donald states in STID that the pressure is high and he doesn't know if he can do another season- there's your reason for looking to sell.
There's definitely something in the timing. No matter what the reason for this being brought up now, it's obvious that it's because of that.
The only reason the might not have paid the 5m to take the full club because Donald wants to stay on, so they have given him the chance to prove himself to stay on
As usual, not worth my time. You accuse me of misremenbering, I post proof that I'm not, and you say ****e like this.
Back on ignore, you're not worth my time or anyone else's.
Yes. That's exactly what I'm getting at. That we may well end up with owners who don't have the resources or inclination to pay it back into the club, as was suggested.
This a decent article (published before any of yesterday's reports) that gives a good overview of what the club is actually worth, a good stab at its real value. My issue is the current valuation of £35m-£40m compared to its true value and the profit they're trying to make.
Like I say, this was published a couple of weeks ago so nothing to do with yesterday's reports. https://www.a-love-supreme.com/post...eath-taxes-sunderland-afc-breaking-our-hearts
It explains why prospective buyers would be put off by the massive increase.
I don’t think anyone would ever question my love for our club, I’m an SR6 lad who’s loved the club as far back as I have memories, but I’ve never been a ‘hater’ of the neighbours as such, and I’ve often said ‘I’d love to see a day when the Derby was for trophies or European places’.
Both clubs would be a licence to print money in that scenario. A savvy businessman can see that.
I noted the other day, Khalid Koulibaly, one of the most wanted men on the planet, an absolute monster of a CB, would be ‘interested in the project at Newcastle as he believes they may become one of the biggest clubs on earth’.
It’s not people not wanting to live in the region (which is ****ing beautiful by the way), or play for the clubs. It’s that top players want to win.
Now, if We and Newcastle could offer them realistic prospects, the sky is below the limit. Between us 2 and Leeds, there’s the 3 most bulletproof sets of fans in the country.
Leeds could end up under the Qatari owners as well.
Only United and Liverpool will always be bigger.
Suggested but not expected.
This is the part that's doing my bloody head in. When are people going to actually wake up and realise that the 25m that came "out of the club" payed a club debt.
It's a bit like if you gave me 100 quid to pay your electricity bill for you. You wouldn't then expect me to give that back to you i'd hope.
So as others have said, it's a non story. Methven was correct when he said you can't spend the money twice.
I understand that you may have done something differently such as attempting to restructure the loan agreement. What if we were that much of a basket case that when and if that option was explored we were told to **** off?