FPP to take full control

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The only reason for FPP to ask Donald to write off the debt would be if they were going to buy Madrox
 
The Norton Cat said:
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.
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I can see the beads of sweat forming on SD’s forehead as we speak. Who could gain from this being leaked and who would have access to the accounts to leak them??
 
Flatheed said:
I can see the beads of sweat forming on SD’s forehead as we speak. Who could gain from this being leaked and who would have access to the accounts to leak them??
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A disgruntled staff member perhaps.
 
So the debt owed by Sunderland AFC Ltd to Madrox has been waived.
Madrox no longer has a debt due to it from SAFC Ltd but the value of its shares in SAFC Ltd has increased by the same amount.
So anybody buying Madrox wouldn't really care about an inter-company debt.
Whether it exists or not, the value of Madrox is the same.
And would a gift from Madrox to SAFC bypass the FFP rules somehow?
Just thinking out loud.
 
Ozzymac said:
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?
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All of which is reasonable, but in response:

If you gave me £100 to pay your electricity bill, and I agreed to pay it back because there was a benefit to me in paying the bill, would you ask me for the £100? Or if I then said that the debt didn't exist, would you feel aggrieved?

And on the second point, it is more that this wasn't a realistic option from the moment Donald came on board, because of the way Short railroaded it into his own company (Drumaville).

We can all agree the £20m may have helped pay something off, but ultimately, Donald agreed to pay it back and is now removing any legal obligation to do so. If you think that's a non-event at this point in our history, where £20m or even £10m would likely have a huge impact on our future, then sorry, I respectfully disagree. Understand what you're saying though.
 
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Nads said:
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.
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Totally agree with you about this. As I think we've discussed before, either club and the NE as a whole should be a massive draw for billionaire owners. Unfortunately, neither club has been run to reach its potential and the NE doesn't do a great job of selling itself.
 
The Norton Cat said:
Totally agree with you about this. As I think we've discussed before, either club and the NE as a whole should be a massive draw for billionaire owners. Unfortunately, neither club has been run to reach its potential and the NE doesn't do a great job of selling itself.
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And this, in its way, is yet another opportunity for them.

They can make money from the region away from the clubs due to the complete lack of foresight, particularly on Wearside.
 
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Flatheed said:
Very few from madrox or Safc would have access to them. They would however be made available to potential buyers as part of due diligence I would have thought.
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Yes.

I think the information originally came from Mark Campbell, and someone at the club has leaked the accounts because they're concerned. That's my guess. I'm sure there are good people in SAFC who are troubled by the way we're run.
 
Wackyjacky said:
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.
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Interesting article. I'm not disputing that the valuation is too high. I'm just saying that this Mail article everyone is getting so upset about doesn't really tell us anything we didn't already know.
 
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Kittenmittons said:
Yes.

I think the information originally came from Mark Campbell, and someone at the club has leaked the accounts because they're concerned. That's my guess. I'm sure there are good people in SAFC who are troubled by the way we're run.
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And Mark Campbell comes across as someone who can be trusted?
 
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Smug in Boots said:
Whatever the case we all need to keep our heads, stick together and present a dignified front ...

... I'm sure we will but we can't allow these people to manipulate and divide us.

Just my opinion.
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Agree, read some of the posts on the other channel and noticed someone having a go at grumpy old man, who I find to be one of the decent, knowledgeable and level headed posters
 
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It will be very interesting to see if Donald puts out a further statement this weekend in response to The Times and Daily Fail articles. Likely further detail on how they plan to put the £20.5 back into the club.

This has probably already been said, so apologies if so, but I assume this is why the sale price is set at £35-£40, as they would plan to put the cash back in at the point of sale. Unless they said **** it! We will just keep it.

Probably good for FPP takeover as the £11.5 put back into SAFC by Madrox must include the FPP loan.
 
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Agent Black Cat said:
It will be very interesting to see if Donald puts out a further statement this weekend in response to The Times and Daily Fail articles. Likely further detail on how they plan to put the £20.5 back into the club.

This has probably already been said, so apologies if so, but I assume this is why the sale price is set at £35-£40, as they would plan to put the cash back in at the point of sale. Unless they said **** it! We will just keep it.

Probably good for FPP takeover as the £11.5 put back into SAFC by Madrox must include the FPP loan.
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If he was smart he wouldn’t, as it will be full of contradictions and gaping holes.

He’s not smart. So he will.

Baffles how he has been so successful in business.
 
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Wackyjacky said:
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.
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Excellent article this. Some of the details will inevitably be wrong as in any external assessment, but I think he's got the jist of it right. I'd love to know where the FPP money is. It went into the club, but it would be possible to get it out again if it hasn't been spent.

The only thing I can't get my head around is FPP spending $12m on a loan to us, but not going up by just a few million (which in their world is peanuts) to get the full asset, if that's what they wanted to do. That's why I think there's some chicanery at work by all parties in this and a number of businessmen are playing games to try and inflate their own wallets from our misfortune.
 
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Agent Black Cat said:
It will be very interesting to see if Donald puts out a further statement this weekend in response to The Times and Daily Fail articles. Likely further detail on how they plan to put the £20.5 back into the club.

This has probably already been said, so apologies if so, but I assume this is why the sale price is set at £35-£40, as they would plan to put the cash back in at the point of sale. Unless they said **** it! We will just keep it.

Probably good for FPP takeover as the £11.5 put back into SAFC by Madrox must include the FPP loan.
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I'll ask this again. Has it ever been proven as fcat that this is the sale price that SD is asking? There have been a lot of assumptions from various people as to what they realistically expect it to be but has it ever been confirmed as fact?

If it hasn't then i'm afraid that people are totally getting their knockers in a knot about nowt.
 
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