FPP to take full control

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Wackyjacky said:
Probably a stupid question but if he defaults (or doesn't pay) and they don't decide to do anything in that 14 day period, what happens then?
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If they don't exercise the right, the club would stay with Donald, but so would the obligation to pay our running costs. Basically, we'd be in a similar position to when Short was at the end, where the options would be selling to someone else or potential administration.

I would imagine that we would have to be running at a loss for Donald not to pay it back, and for FPP to say no. It's one of those weird situations where if Donald can't pay it back, the likelihood is that it negatively impacts the chances of FPP wanting us. Conversely, if he can, FPP would be more inclined to come on board. There's a frustrating lack of middle ground.

Like I said, the future of the club matters most now. I doubt that he could give it away today.
 
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Wackyjacky said:
Probably a stupid question but if he defaults (or doesn't pay) and they don't decide to do anything in that 14 day period, what happens then?
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The club would be put into administration. Which given FPP are the main creditor, would simply mean that the assets are sold off to pay them back. In which case, it would make no sense for FPP not to take over the club as all that would happen under administration is that the value of the club would fall.

If Madrox default to FPP, they would also default on the £25m borrowed from SAFC. Madrox would go into liquidation. SD would lose his £9m, JS his £3m and CM his £0.

FPP would have the club for £9m debt free but without the £25m Parachute payments. But a minor detail. They can easily finance any running costs during the virus situation. There will be new owners within a month I think.
 
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Bob Cheval said:
The club would be put into administration. Which given FPP are the main creditor, would simply mean that the assets are sold off to pay them back. In which case, it would make no sense for FPP not to take over the club as all that would happen under administration is that the value of the club would fall.

If Madrox default to FPP, they would also default on the £25m borrowed from SAFC. Madrox would go into liquidation. SD would lose his £9m, JS his £3m and CM his £0.

FPP would have the club for £9m debt free but without the £25m Parachute payments. But a minor detail. They can easily finance any running costs during the virus situation. There will be new owners within a month I think.
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I really hope so only positive thing that can come out of this bloody virus as I can see it getting much worse yet unfortunately.

2 people have tested positive that live about 200m from my mates house!!
 
Bob Cheval said:
The club would be put into administration. Which given FPP are the main creditor, would simply mean that the assets are sold off to pay them back. In which case, it would make no sense for FPP not to take over the club as all that would happen under administration is that the value of the club would fall.

If Madrox default to FPP, they would also default on the £25m borrowed from SAFC. Madrox would go into liquidation. SD would lose his £9m, JS his £3m and CM his £0.

FPP would have the club for £9m debt free but without the £25m Parachute payments. But a minor detail. They can easily finance any running costs during the virus situation. There will be new owners within a month I think.
Click to expand...

"FPP would have the club for £9m debt free."

This is what I was saying yesterday, and why would they turn it down?

FPP, as we'll call them, wanted to buy the club, registered a company at the SOL, spent a fortune on solicitors & feasibility studies, etc and are currently the biggest investors. They're perfectly placed to play the long game which is what they've done all along.

I've no doubt they'll be our owners although it hasn't happened anywhere near how I was told tbh.
 
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Smug in Boots said:
A quick


"FPP would have the club for £9m debt free."

This is what I was saying yesterday.

FPP, as we'll call them, wanted to buy the club, registered a company at the SOL, spent a fortune on solicitors & feasibility studies, etc and are currently the biggest investors. They're perfectly placed to play the long game which is what they've done all along.

I've no doubt they'll be our owners although it hasn't happened anywhere near how I was told tbh.
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As long as it happens and we can move on from SD.

I do think he had good intentions at first but then he's got greedy when these lads have came along.
 
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BigPete said:
As long as it happens and we can move on from SD.

I do think he had good intentions at first but then he's got greedy when these lads have came along.
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If anyone but 'Dell' had come along Donald would've done what he'd always planned to and sold ....

... but, just as I did, he was carried away and thought they'd just stump up what he was asking.

Oops <doh>
 
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Smug in Boots said:
If anyone but 'Dell' had come along Donald would've done what he'd always planned to and sold ....

... but, just as I did, he was carried away and thought they'd just stump up what he was asking.

Oops <doh>
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A fools easily parted with his money and these guys are evidently not fools!
 
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From MadBob over the road...

"Well fletch I know 2 things as a fact
1. I know who pulled out 2 weeks ago, do you gobshite.
2. I know who the other 2 parties are who are still in it.
So gobshite do you. Or what can you enlighten us with, without saying prove it."

Some think him full of it but he clearly knows some people in the game so i'm not discounting it.
 
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Ozzymac said:
From MadBob over the road...

"Well fletch I know 2 things as a fact
1. I know who pulled out 2 weeks ago, do you gobshite.
2. I know who the other 2 parties are who are still in it.
So gobshite do you. Or what can you enlighten us with, without saying prove it."

Some think him full of it but he clearly knows some people in the game so i'm not discounting it.
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he full of **** man
 
Bob Cheval said:
The club would be put into administration. Which given FPP are the main creditor, would simply mean that the assets are sold off to pay them back. In which case, it would make no sense for FPP not to take over the club as all that would happen under administration is that the value of the club would fall.

If Madrox default to FPP, they would also default on the £25m borrowed from SAFC. Madrox would go into liquidation. SD would lose his £9m, JS his £3m and CM his £0.

FPP would have the club for £9m debt free but without the £25m Parachute payments. But a minor detail. They can easily finance any running costs during the virus situation. There will be new owners within a month I think.
Click to expand...
And therefore have an automatic points deduction.
 
Smug in Boots said:
"FPP would have the club for £9m debt free."

This is what I was saying yesterday, and why would they turn it down?

FPP, as we'll call them, wanted to buy the club, registered a company at the SOL, spent a fortune on solicitors & feasibility studies, etc and are currently the biggest investors. They're perfectly placed to play the long game which is what they've done all along.

I've no doubt they'll be our owners although it hasn't happened anywhere near how I was told tbh.
Click to expand...

I really hope you're right mate. It's the only glimmer of optimism I can see anywhere in this whole sorry mess!
 
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Ozzymac said:
From MadBob over the road...

"Well fletch I know 2 things as a fact
1. I know who pulled out 2 weeks ago, do you gobshite.
2. I know who the other 2 parties are who are still in it.
So gobshite do you. Or what can you enlighten us with, without saying prove it."

Some think him full of it but he clearly knows some people in the game so i'm not discounting it.
Click to expand...
He’s another one who seems to ramble on forever without actually saying anything.
Leading our fans on is disgraceful.
 
IMHO, Donald does not have the wherewithal to fund another season in L1 or the Championship, especially as this Coronavirus stoppage with no gates will cause a a fall in revenue. Premiership is mostly TV money so will not be so much affected?

So for the past few weeks it has all gone quiet on the selling the club news, I assumed cos at one time we looked as if we were in with chance of automatic promotion. As that has all but gone away, presumably talks with interested parties can resume on the basis of continued L1 membership?
 
Smug in Boots said:
"FPP would have the club for £9m debt free."

This is what I was saying yesterday, and why would they turn it down?

FPP, as we'll call them, wanted to buy the club, registered a company at the SOL, spent a fortune on solicitors & feasibility studies, etc and are currently the biggest investors. They're perfectly placed to play the long game which is what they've done all along.

I've no doubt they'll be our owners although it hasn't happened anywhere near how I was told tbh.
Click to expand...


Wouldn't surprise me if they have their own top solicitor on an annual payroll.
 
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Sam Handwich said:
He's only losing 3 matches worth of gate revenue remember. And 24,000 of those paid upfront. Of course if it goes into next season then it will affect him, but i would say he could easily write off this season
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Its not just gate receipts tho'..... Commercial revenue and all other service the club profiles from..Corporate, Food concessions, Club shop etc etc... Its a big loss for a club with gates the size of Sunderland
 
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Bob Cheval said:
The club would be put into administration. Which given FPP are the main creditor, would simply mean that the assets are sold off to pay them back. In which case, it would make no sense for FPP not to take over the club as all that would happen under administration is that the value of the club would fall.

If Madrox default to FPP, they would also default on the £25m borrowed from SAFC. Madrox would go into liquidation. SD would lose his £9m, JS his £3m and CM his £0.

FPP would have the club for £9m debt free but without the £25m Parachute payments. But a minor detail. They can easily finance any running costs during the virus situation. There will be new owners within a month I think.
Click to expand...

They can, but it's 'dead money' and I don't think they or anyone else will until we understand more about the long term future of the club and football.

If we are losing enough money in the short term to drive Donald to the point where administration is his only option, then yes, they can finance it, but it will be a big thing to do and you're very much overstating the idea that they'd be willing to do it. This isn't MSD, this is three guys who have made a lot of money out of MSD doing things on their own. If our running costs are £2.5m a month and our revenue is annihilated for an indefinite amount of time, they won't just accept that unless they're extremely reckless.

Like I said, it all sounds nice, but until we know how football will be played in the next 12-18 months and what changes to revenue will occur, people won't invest in football. Even taking on the ashes of a football club this size will be a huge money sink.

Again, we've all sat and said that FFP are canny businessmen who are willing to risk losing out on us over the apparent £5-10m asking price difference. The idea that they'd then assume far more risk in future, in an uncertain industry, with no realistic end in sight as of today, is a very strange idea indeed.
 
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