FPP to take full control

[Guinness Guzzler]

Just seen this.

Does it mean they're out of here, or does it mean they are taking over directly? Would they need FPP if they owned the club outright? I'll bow down to the company ownership experts on that one!

I'm no expert but sadly I'd think the latter. I'm assuming they'd have bought Madrox or Sunderland Limited but FPP Sunderland would have been the company they'd have kept the shares in. Someone much brighter than me will no doubt give a better reply soon mind, just can't see this being a positive although I'd guess it does mean a sale to someone is close (they'd likely only get rid of the company when they know for certain they aren't buying, which is likely when they agree someone else can have it)

 

[SAFC CLUD]

Doesn’t look good

 

[HeatonMackem]

Just seen this.

Does it mean they're out of here, or does it mean they are taking over directly? Would they need FPP if they owned the club outright? I'll bow down to the company ownership experts on that one!

They could still buy the shares either personally, or via another company e.g. the american company FPP Sunderland. But Like GG said, it's suggests FPP will not takeover - I doubt they would think it's a good idea to hold the shares in a UK company, then to change their minds and hold the shares in America.

 

[HeatonMackem]

So who do we owe the £10m loan to now I wonder?

The loan is from the american company FPP Sunderland LLC.
https://beta.companieshouse.gov.uk/company/11341675/charges

 

[Evil Jimmy Krankie]

Those of us in our 70's witnessed the first ever relegation and have been kept in the fold by endless promises and references to ourselves as "a big club". Being where we are now gives us a rather valid reason for cynicism.

I’ve said time and again that Sunderland have been mismanaged for decades. You’re probably just about old enough to remember when we tried to buy the league in the 1950s. That didn’t work. It has been all downhill since then. Alan Brown was brought in. He got us relegated. He managed it again a few years later.

It’s only my opinion as a relative youngster but I still think we are a big club. They make it bloody hard year on year to keep me from losing that opinion though.

 

[Nacho]

God knows what's happening but it certainly seems like something is.

 

[Ned Doig]

Could there be a takeover of Madrox by FPP people and therefore FPP sunderland no longer be needed??

 

[Wibble]

Just seen this.

Does it mean they're out of here, or does it mean they are taking over directly? Would they need FPP if they owned the club outright? I'll bow down to the company ownership experts on that one!

I'd say it means they are off

 

[Guinness Guzzler]

Could there be a takeover of Madrox by FPP people and therefore FPP sunderland no longer be needed??

Thats the only straw I'm clinging to. Again, don't understand how it works, but if the loan is to Madrox, and all Madrox owns is SAFC, I'm guessing they could just buy Madrox and that stops Donald and co being responsible for paying it back, it basically ends up that it was an initial payment on the purchase. Not sure if that makes sense or if there'd even be any benefit in them doing it, but like I say it's a straw to clutch for a few minutes at least

 

[The Norton Cat]

It certainly looks like something is happening. But why the dismay at the possibility that its not FPP? Why does it matter if they buy us? It could mean that someone else, someone with more of a background in football is going to takeover.

 

[Wibble]

Roker Report are speculating that Juan Sartori could be the man to buy the club outright. I vaguely remember this being talked about as a possible eventuality when he first became involved. As a billionaire in his own right and his father-in-laws obvious interest in football, this could actually be a dream ticket

https://rokerreport.sbnation.com/pl...&utm_source=twitter&__twitter_impression=true

Pie in the sky

 

[The Norton Cat]

Pie in the sky

Why's that then?

 

[HeatonMackem]

Could there be a takeover of Madrox by FPP people and therefore FPP sunderland no longer be needed??

It could be but they wouldn't have set up FPP Sunderland Ltd unless it was the best way to take over. I guess if they were originally going to buy safc shares from Madrox, but are now just buying Madrox shares, they could just use Madrox as the holding company and not bother with FPP Sunderland.

 

[Wibble]

Why's that then?

Pure guess work, reading it.

 

[Ned Doig]

It could be but they wouldn't have set up FPP Sunderland Ltd unless it was the best way to take over. I guess if they were originally going to buy safc shares from Madrox, but are now just buying Madrox shares, they could just use Madrox as the holding company and not bother with FPP Sunderland.

Maybe as previously mentioned it's a way to write off the loan?? Who knows!

 

[Guinness Guzzler]

It could be but they wouldn't have set up FPP Sunderland Ltd unless it was the best way to take over. I guess if they were originally going to buy safc shares from Madrox, but are now just buying Madrox shares, they could just use Madrox as the holding company and not bother with FPP Sunderland.

That's my hope. FPP Sunderland was set up first when they intended buying Sunderland limited and keeping the shares in FPP. Then things change and they invest (loan) to Madrox initially. Now they could buy Sunderland limited as intended but the loan would still need to be repaid by Madrox. So either they do that and pay £10m more so Donald can pay the loan off, or they simply buy Madrox which is already set up as a vehicle to hold the Sunderland shares. I just don't think there'd have been any rush to shut FPP Sunderland down though, they could have done that any time, so I'm guessing the much more likely scenario is we're being bought by someone else

 

[Lucky19672]

The RR speculation about Sartori could tie in with the strike off.

They may not need the vehicle that is FPP, either pulling out completely or acquiring Madrox under a different guise.

All up in the air.

 

[sad-eyed prophet]

It certainly looks like something is happening. But why the dismay at the possibility that its not FPP? Why does it matter if they buy us? It could mean that someone else, someone with more of a background in football is going to takeover.

Think it’s because any other buyer is unlikely to be as well heeled as FPP.

 

[Ned Doig]

The RR speculation about Sartori could tie in with the strike off.

Do you think they'll still be getting snippets considering they were involved in the post Boxing Day statements?? I'd doubt it.

 

[The Norton Cat]

Pure guess work, reading it.

Well, yeah. Like I said, its speculation. Its not inconceivable though. He already owns part of the club and has a family background in owning football clubs.