Safc survey
- Thread starter C19RK73
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How can you buy a club with parachute payments if the club is not yours to start with ?, could i have done that, " er i would like to buy SAFC but need to part fund that with the parachute payments" i think i would be laughed at, borrowing money is not a good idea either, if one of us win the £150 m euromillions i bet we would buy the club, but have a consortium, and get the academy of light sorted and stop selling talented young players like Maja, Kimpioka etc extend the SOL to 70,000, but that is a dream i suppose.
By arranging a payment plan I suppose. So the club is for sale for £35m. You say "can I pay £10m initially and the extra £25m later?". Short says yes because he gets some up front and, if the new owner can't pay the extra £25m, he has security over the parachute payments so he could take those (or he'd have security over the stadium etc). The parachute money comes into safc, where Donald is perfectly legally allowed to sent it as a loan to Madrox, who happen to owe £25m. Then he sends it to Short. That means Madrox now owe safc that money, but since its owned by the same people, they can just write it off, just like how a small business could write off an invoice if they realised it wasn't going to be paid. As long as Short gets his payments in line with the agreed payment schedule he won't mind where they come from.
The thing that would stop us doing it is threefold. Firstly most of us wouldn't have the £10m or so "deposit" to pay up front. Next, safc doesn't now have any massive parachute payments coming in that we could send on, so Donald got very lucky in terms of timing there. Thirdly, although it's arguable how thorough they are, the EFL are meant to get you to evidence that you can afford to run the club. So they might need to see that you can access £50m like they allegedly did with Donald, and if all you can show is that you can send parachute payments on you'd hope that would ring alarm bells even for them!
Not sure. I think he was on the board then so you'd imagine he might well have been. That being said he won't have been the only one so I doubt he could sway it on his own