Serious takeover talk

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Dave_39 said:
from GOM over the road

OK.

What we have here are standard fixed and floating charges. Given that the primary security for the loan is Madrox's shares in Sunderland, which effectively gives control of all the other assets anyway, the extent looks a bit like overkill, or legal throughness if you're being kind. It appears to cover a term loan of $12m. What we don't know is the length of term. The SBC loan, which was very similar, although coming direct into Sunderland, rather than Drumaville, was for 5 years. This may be similar. There's also no reference to applicable interest rates. For a charge of this type, we're probably looking at at least a 3 year term. It's only a problem if it can't be repaid or rolled over.

For what it's worth, I'm not remotely worried.
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Good to hear that he isn't worried. I wasn't either tbh just sounds like they have them over a barrel and want to get the club as cheap as possible.
 
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Dave_39 said:
from GOM over the road

OK.

What we have here are standard fixed and floating charges. Given that the primary security for the loan is Madrox's shares in Sunderland, which effectively gives control of all the other assets anyway, the extent looks a bit like overkill, or legal throughness if you're being kind. It appears to cover a term loan of $12m. What we don't know is the length of term. The SBC loan, which was very similar, although coming direct into Sunderland, rather than Drumaville, was for 5 years. This may be similar. There's also no reference to applicable interest rates. For a charge of this type, we're probably looking at at least a 3 year term. It's only a problem if it can't be repaid or rolled over.

For what it's worth, I'm not remotely worried.
Click to expand...
Cheers, was just about to post that.
 
BigPete said:
Only question remains is when they fail what will the Americans want to do?

Do they want the club or the real estate/land. I'm pretty sure it will be the club as they have been wanting to buy one for some time but people will be worried. Over the road it's kicking off people saying we are Venkys Mk2 and will do a Bury.
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Their reputation is spotless in that regard. You only have to look at what they did at Miami Marlins to see the most likely outcome.

However RTG being RTG they're talking about the SOL becoming a massive Home Bargains and the AOL getting demolished <laugh>
 
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Nostradamoose said:
Their reputation is spotless in that regard. You only have to look at what they did at Miami Marlins to see the most likely outcome.

However RTG being RTG they're talking about the SOL becoming a massive Home Bargains and the AOL getting demolished <laugh>
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Well Ive just said that myself.. albeit tongue in cheek... not sure Sheepfolds as far as realty is concerned is worth anything like 10 million.. oh hang on.. that gold stuff we used to leave behind when bringing up the coal might have something to do with it
 
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Barker Woofingham said:
Well Ive just said that myself.. albeit tongue in cheek... not sure Sheepfolds as far as realty is concerned is worth anything like 10 million.. oh hang on.. that gold stuff we used to leave behind when bringing up the coal might have something to do with it
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Don't encourage them, there's probably a 200 page conspiracy thread claiming they're open cast mining in the middle of the pitch :emoticon-0102-bigsm
 
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Nostradamoose said:
Don't encourage them, there's probably a 200 page conspiracy thread claiming they're open cast mining in the middle of the pitch :emoticon-0102-bigsm
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In all seriousness though, surely we've (SD and CM) have mortgaged the club.If we fail to repay, FPP take full ownership? Thought Wonga had gone out of business but it seems to me like a bigger version of a pay day loan... Promotion being the payday....
 
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I can't believe people on here think the club is only worth £9m which is the reported amount of the loan. If you don't pay the loan you owe the loaner £9m, the club is worth more than that so why would SD enter an agreement that would give the club away for £9m when he could get a secured loan from any bank which much better terms.
People posting on this thread appear to want SD to fail to make the payments and think that FPP having him over a barrel is a good thing, Why would SD,CM and Satori agree to that?

Ronnie
 
Barker Woofingham said:
In all seriousness though, surely we've (SD and CM) have mortgaged the club. If we fail to repay, FPP take full ownership? Thought Wonga had gone out of business but it seems to me like a bigger version of a pay day loan... Promotion being the payday....
Click to expand...
It confirms a few things

FPP aren't as green as they're cabbage looking as me gran used to say

Charles Methven is an incorrigible liar

And Stewart Donald has no intention of putting his own money in at this point

Yes they've mortgaged the club but it's worth more as SAFC than as real estate. That and FPP don't have a history of asset stripping going concerns.
 
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Nostradamoose said:
Their reputation is spotless in that regard. You only have to look at what they did at Miami Marlins to see the most likely outcome.

However RTG being RTG they're talking about the SOL becoming a massive Home Bargains and the AOL getting demolished <laugh>
Click to expand...
Prefer B&M to be honest
 
Something doesn't add up. Why would we need a £10m loan, if as Donald has said we are debt free and have the final parachute payment coming in, and average crowds of over 30,000? If Donald and co. need to borrow £10m just for the day to day running of the club we are up **** creek without a paddle, how could they possibly pay it back if they are needing to borrow to "get by" . Now we hear the loan is covered by the assets of stadium and training ground. No wonder Donald has gone into hiding, Methven will be holed up with him soon as he categorically stated that the loan was nothing to do with the club and the debt was on Madrox.
 
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