FPP to take full control

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Ozzymac said:
Well Flash looks like he's had the PM so hopefully he might share
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It sounds like an article is going to be released concerning the loan, it sounds like its getting paid back but over installments from what I can decifer
 
Roppa said:
It’s not automatic m8, it’s up to madrox to actually remove it. My points would be, they were quick enough to register it and, the accountants who arranged the repayment surely will have the wit and professionalism to fill in all relevant paperwork, although having watched stid2 perhaps not.
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Yeah although it's not automatic, they are obliged to do it in a timely manner (off the top of my head I don't recall a specific time) and they'd needlessly be causing issues by bot doing so.

@smithy in nl they can't sell without FPP's permission, that is right. As above, the charge sheet (which you can find in the Madrox filing history on companies house) has a few covenants that relate to it. Obviously, the likelihood would be that at least one of FPP or a new buyer would object, which would mean that Donald would need to pay it back.

Once it's paid back Donald is free to do as he pleases again.
 
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Well bob has admitted he got the loan bit wrong,apparently it’s all in the chronicle today or tomorrow.
 
From Bob on RTG, @Kittenmittons @Bob Cheval @Smug in Boots
Privvy to any of this?

this to answer most of it, I IMHO was led to believe that the loan/investment was being paid back, you will see from todays statement how things have changed, I was not made privy to some of it. so sorry for that.
I understand the finance situation will show what its cost us since day 1 with the 3 amigos. and how we are the only club in div 1 and 80% of the championship with no debt and a decent bank balance, inc the repayable short term LOAN as it is now deemed/ called.
The other bit i now understand is way different to what most know about or we think is happening.

Sounds interesting - the last bit
 
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6inarow said:
From Bob on RTG, @Kittenmittons @Bob Cheval @Smug in Boots
Privvy to any of this?

this to answer most of it, I IMHO was led to believe that the loan/investment was being paid back, you will see from todays statement how things have changed, I was not made privy to some of it. so sorry for that.
I understand the finance situation will show what its cost us since day 1 with the 3 amigos. and how we are the only club in div 1 and 80% of the championship with no debt and a decent bank balance, inc the repayable short term LOAN as it is now deemed/ called.
The other bit i now understand is way different to what most know about or we think is happening.
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Not at all mate, I've heard nothing about the loan being short term and can't see the point of it in that case tbh.

As for "... I IMHO was led to believe that the loan/investment was being paid back".

This is where Bob goes wrong. He was shouting at people, and calling them idiots, for disputing that the loan had already gone back.

He was so insistent that I asked the question and was met with a terse NO!

This suggestion that we're in great shape, debt free and money in the bank is nonsense imo ...

... if that were the case we wouldn't be in the mess we're in and borrowing money.
 
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Smug in Boots said:
Not at all mate, I've heard nothing about the loan being short term and can't see the point of it in that case tbh.

As for "... I IMHO was led to believe that the loan/investment was being paid back".

This is where Bob goes wrong. He was shouting at people, and calling them idiots, for disputing that the loan had already gone back.

He was so insistent that I asked the question and was met with a terse NO!

This suggestion that we're in great shape, debt free and money in the bank is nonsense imo ...

... if that were the case we wouldn't be in the mess we're in and borrowing money.
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he trying to cover his arse for be found out lying IMHO there mate
 
Smug in Boots said:
Not at all mate, I've heard nothing about the loan being short term and can't see the point of it in that case tbh.

As for "... I IMHO was led to believe that the loan/investment was being paid back".

This is where Bob goes wrong. He was shouting at people, and calling them idiots, for disputing that the loan had already gone back.

He was so insistent that I asked the question and was met with a terse NO!

This suggestion that we're in great shape, debt free and money in the bank is nonsense imo ...

... if that were the case we wouldn't be in the mess we're in and borrowing money.
Click to expand...
In STID 2 Donald admitted from the onset that he pretty much couldn't finance the club and it needed inward investment, but he still wanted to keep control. The club is financially crippled with Donald, our outgoings are not sustainable with things as they are. He either sells up....quick...or I can see (especially under the current CV circumstances ) SAFC going into financial meltdown. Donald simply does not have the clout. He banked on promotion first time round...it didn't happen.
 
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Kittenmittons said:
Yeah although it's not automatic, they are obliged to do it in a timely manner (off the top of my head I don't recall a specific time) and they'd needlessly be causing issues by bot doing so.

@smithy in nl they can't sell without FPP's permission, that is right. As above, the charge sheet (which you can find in the Madrox filing history on companies house) has a few covenants that relate to it. Obviously, the likelihood would be that at least one of FPP or a new buyer would object, which would mean that Donald would need to pay it back.

Once it's paid back Donald is free to do as he pleases again.
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I assume this is correct Donald has to repay loan before he sells. Will the new buyers give him a loan to do this? It s bank?
 
flandersmackem said:
In STID 2 Donald admitted from the onset that he pretty much couldn't finance the club and it needed inward investment, but he still wanted to keep control. The club is financially crippled with Donald, our outgoings are not sustainable with things as they are. He either sells up....quick...or I can see (especially under the current CV circumstances ) SAFC going into financial meltdown. Donald simply does not have the clout. He banked on promotion first time round...it didn't happen.
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This, he even said it would cost £25m if we were to spend a second season in League One.
 
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