S.A.F.C. - the future

[Blond Bombshell]

From The Daily Record


Bankrupt former England star fronted failed multi-million pound football club takeover
Former Blackburn, Leeds, Wolves and Celtic defender Michael Gray was the public face of a failed buyout of his old club Sunderland where he made his name as a playe
Former Sunderland, Blackburn, Leeds, Wolves and Celtic star Michael Gray fronted a multi-million pound football club takeover despite being bankrupt.

The player-turned-pundit was the public face of a failed buyout of English giants Sunderland during the summer.
The ex-England international took on the role even though he went bust only months earlier, owing the taxman nearly £70,000 from earnings amassed as a TV and radio expert
Official documents show he’s forbidden from running or even promoting a company without the permission of a court until 2024.

Explains a lot, we'll not hear anything else from Micky until 2024

 

[Chip]

From The Daily Record


Bankrupt former England star fronted failed multi-million pound football club takeover
Former Blackburn, Leeds, Wolves and Celtic defender Michael Gray was the public face of a failed buyout of his old club Sunderland where he made his name as a playe
Former Sunderland, Blackburn, Leeds, Wolves and Celtic star Michael Gray fronted a multi-million pound football club takeover despite being bankrupt.

The player-turned-pundit was the public face of a failed buyout of English giants Sunderland during the summer.
The ex-England international took on the role even though he went bust only months earlier, owing the taxman nearly £70,000 from earnings amassed as a TV and radio expert
Official documents show he’s forbidden from running or even promoting a company without the permission of a court until 2024.

So nothing left from a long decent career in football and bankrupt in mid 40s due to not paying his taxes.

Would have thought most of his earnings would have been tax free (for Bein sports)

 

[flandersmackem]

So nothing left from a long decent career in football and bankrupt in mid 40s due to not paying his taxes.

Would have thought most of his earnings would have been tax free (for Bein sports)

Not so if he lives in the UK, all income regardless of where it comes from will be taxed at the UK rates unless he lives outside the UK and is declared and ExPat..meaning he can only come into UK for 90 days maximum per year

 

[Nig]

My advice would be to avoid fiends anywhere, not just the pub mind!

Ha Har a Devilish response my good fellow

 

[Chip]

Not so if he lives in the UK, all income regardless of where it comes from will be taxed at the UK rates unless he lives outside the UK and is declared and ExPat..meaning he can only come into UK for 90 days maximum per year

Ah right, fair enough then. Still find it shocking he can't cover such a trivial amount though.

 

[ROKER PARK]

Not so if he lives in the UK, all income regardless of where it comes from will be taxed at the UK rates unless he lives outside the UK and is declared and ExPat..meaning he can only come into UK for 90 days maximum per year

Have you consulted Smug's accountant - GOM?

 

[C19RK73]

From The Daily Record


Bankrupt former England star fronted failed multi-million pound football club takeover
Former Blackburn, Leeds, Wolves and Celtic defender Michael Gray was the public face of a failed buyout of his old club Sunderland where he made his name as a playe
Former Sunderland, Blackburn, Leeds, Wolves and Celtic star Michael Gray fronted a multi-million pound football club takeover despite being bankrupt.

The player-turned-pundit was the public face of a failed buyout of English giants Sunderland during the summer.
The ex-England international took on the role even though he went bust only months earlier, owing the taxman nearly £70,000 from earnings amassed as a TV and radio expert
Official documents show he’s forbidden from running or even promoting a company without the permission of a court until 2024.

Ffs! Humiliated!

 

[rowley]

It might be that Gray put all this cash he earned through the media and so on through a Ltd Co, and maybe that it's the Ltd Co that has went bust? Bit of a dodgy way to avoid tax like, but I've heard it done at a lesser level.

 

[Guinness Guzzler]

All of a sudden, Donald refusing to entertain a group fronted by Mickey Gray looks less like some strange sort of personal vendetta and possibly more just not trusting a group fronted by a bankrupt person who isn't allowed to promote a club (****ing hell, what is it with Gray and not being able to promote us ) . Did think it sounded strange that he'd let his personal opinion of one bloke prevent him from doing a multi million pound deal.

 

[Vincemac]

All of a sudden, Donald refusing to entertain a group fronted by Mickey Gray looks less like some strange sort of personal vendetta and possibly more just not trusting a group fronted by a bankrupt person who isn't allowed to promote a club (****ing hell, what is it with Gray and not being able to promote us ) . Did think it sounded strange that he'd let his personal opinion of one bloke prevent him from doing a multi million pound deal.

I don’t think personal will come into it when money talks
However Micky Gray is skint

 

[Smug in Boots]

All of a sudden, Donald refusing to entertain a group fronted by Mickey Gray looks less like some strange sort of personal vendetta and possibly more just not trusting a group fronted by a bankrupt person who isn't allowed to promote a club (****ing hell, what is it with Gray and not being able to promote us ) . Did think it sounded strange that he'd let his personal opinion of one bloke prevent him from doing a multi million pound deal.

There's something about these stories that doesn't ring true for me.

FPP, apparently, needed Charlie Methven to 'bring them to the table', this multi-million pound group need Gray to 'head their bid', etc.

People like these have solicitors, advisors, etc, who know far more about business than a minor PR salesman and an ex-player. Why would they need to be lead by the hand?

It just doesn't make sense to me.

 

[Blond Bombshell]

There's something about these stories that doesn't ring true for me.

FPP, apparently, needed Charlie Methven to 'bring them to the table', this multi-million pound group need Gray to 'head their bid', etc.

People like these have solicitors, advisors, etc, who know far more about business than a minor PR salesman and an ex-player. Why would they need to be lead by the hand?

It just doesn't make sense to me.

Didn't Niall sell the bus/carpet to Ellis?

 

[Lewberry Pie]

All of a sudden, Donald refusing to entertain a group fronted by Mickey Gray looks less like some strange sort of personal vendetta and possibly more just not trusting a group fronted by a bankrupt person who isn't allowed to promote a club (****ing hell, what is it with Gray and not being able to promote us ) . Did think it sounded strange that he'd let his personal opinion of one bloke prevent him from doing a multi million pound deal.

Of course it never happened like that but people are so willing to believe every negative thing about Stewart Donald.

 

[Smug in Boots]

Didn't Niall sell the bus/carpet to Ellis?

That's the story isn't it, don't know how much truth is in it but Quinn has a lot more influence than Methven and Gray put together.

The idea that FPP, after having made Ashley an offer for NUFC, should need Methven to alert them to the existence of Sunderland is laughable.

I just take all these tales with a big pinch of salt tbh.

 

[rowley]

Of course it never happened like that but people are so willing to believe every negative thing about Stewart Donald.

He really does give people a chance though L!

It's no wonder people think so ill of him. This is one of the most crucial times in the club's 140 year history, a club he mostly owns, and for about a year now since things were turning sticky he has said almost nothing at all, apart from resigning as chairman in the summer.

Nature abhors a vacuum, and the one he has created is being filled. Mostly with reasonable assumptions too, along with a few far fetched bits.

 

[Smug in Boots]

He really does give people a chance though L!

It's no wonder people think so ill of him. This is one of the most crucial times in the club's 140 year history, a club he mostly owns, and for about a year now since things were turning sticky he has said almost nothing at all, apart from resigning as chairman in the summer.

Nature abhors a vacuum, and the one he has created is being filled. Mostly with reasonable assumptions too, along with a few far fetched bits.

That's quite right and why every scrap of 'info' is being analysed to death.

It all confirms what I've been told, that Donald has already 'gone' and has no further interest in the club, only the money.

If this is how he protects his interests he'll end up in the same mucky boat as Gray, hopefully without dragging us any further down.

 

[Lewberry Pie]

He really does give people a chance though L!

It's no wonder people think so ill of him. This is one of the most crucial times in the club's 140 year history, a club he mostly owns, and for about a year now since things were turning sticky he has said almost nothing at all, apart from resigning as chairman in the summer.

Nature abhors a vacuum, and the one he has created is being filled. Mostly with reasonable assumptions too, along with a few far fetched bits.

To be fair anything he said was also pulled apart and criticised as not being a good enough answer so I don't think he can win.

I've said before he's created some of it himself but it's also been created by others.

 

[Drumburgh1]

Yeah. A shares rights issue could do that. It would see everyone rebuying their share holding at and agreed price for the club, say £35 million, where the money could be reinvested in team strengthening, if you don't buy your shares back other people can buy them off you. I think it's how Murray managed to get McBastardly to lose his shares back in the late 80s.

With a rights issue the club would issue more shares -every shareholder has the right to buy the new shares subject to the percentage owned - if they do not take these new shares, the other shareholders can buy them.

An example you own 50% of the shares and I own 50% shares we then decide to double the number of shares but I am skint so you buy your share of the additional shares and mine.

You now own 75% and I 25% of shares.

 

[Blond Bombshell]

That's quite right and why every scrap of 'info' is being analysed to death.

It all confirms what I've been told, that Donald has already 'gone' and has no further interest in the club, only the money.

If this is how he protects his interests he'll end up in the same mucky boat as Gray, hopefully without dragging us any further down.

Good to hear. The fans main gripe with Donald was that he loved the spotlight and rambled on for two hours contradicting himself several times

 

[Magnus]

Seriously? So the only thing left is essentially everything seeing as Donald owns the club? Mate, surely you have to be doubting the legitimacy of your source if you're being fed that as info. No offence, I'm sure you are passing it on in good faith. We're all frustrated with current state of affairs.

you have alot more to a deal then just share %
You got staff issues
Covid issues
EFL stuff to pass
Due diligence