Cheers. Is CM in essence right though as the deal is tied up within Madrox?
A politician's clever half-truth answer as it's nothing to do with SAFC apart from the ownership!
Serious takeover talk
- Thread starter Smug in Boots
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A politician's clever half-truth answer as it's nothing to do with SAFC apart from the ownership!
There's a clear connection with SAFC if every building has been put up as security. As the lads over the road have speculated that could allow FPP to take control of the stadium, AoL etc then lease it back to us or worse.
Charlie thought it was a politician's answer but I'd say it's a full on porkie pie
I'm not worried either, but I will say that if Donald didn't think he could pay this back, he would be an absolute lunatic to enter into this agreement. It reaches far beyond Madrox and into all of the other group entities like SJD etc. He wouldn't just lose the club, he'd lose £20m+ on top and it effectively makes it a personal liability to some degree. They wouldn't be getting the club for £9m, they'd effectively be being paid anything above that sum that Donald owes (currently in the region of £20m).
Like GOM, I can't see a schedule of repayments, but I would be extremely surprised if it's onerous or short term. Like I say, this is not an agreement you enter into lightly as the terms are very very harsh if he doesn't pay up.
Upshot, however FPP come on board, it probably isn't via this agreement unless Donald goes bankrupt.
Like GOM, I can't see a schedule of repayments, but I would be extremely surprised if it's onerous or short term. Like I say, this is not an agreement you enter into lightly as the terms are very very harsh if he doesn't pay up.
Upshot, however FPP come on board, it probably isn't via this agreement unless Donald goes bankrupt.
In essence, you'd borrow from Peter to pay Paul, because Paul will break your legs tomorrow, whereas Peter will break them in a few years time.
Ellis was into hedge funds, not asset stripping.
Feel free to demonize even though he spunked 200m into our club
Here's the part which suggests that there is an option to convert the loan into shares:
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So did big Charlie basically lie to the whole fanbase on the Podcast the other day?
"No financial connection"
"No financial connection"
It's madness this like. Making a rod for their own backs.
It would've been fine just saying that although technically the cash is secured against assets, the reality is it will be converted to share capital or they will be gaining full control of the club along with its assets further down the line. End of.
Instead telling half truths or just outright lies and giving everyone a reason not to trust them. I've not criticised them previously, apart from on the recruitment side, but this just appears bafflingly stupid (their statements, not the agreement itself).
It would've been fine just saying that although technically the cash is secured against assets, the reality is it will be converted to share capital or they will be gaining full control of the club along with its assets further down the line. End of.
Instead telling half truths or just outright lies and giving everyone a reason not to trust them. I've not criticised them previously, apart from on the recruitment side, but this just appears bafflingly stupid (their statements, not the agreement itself).
If they are gonna asset strip, sell the land etc like most people saying on RTG that wouldn't be in the loan agreement.
They have as I presumed got SD over a barrel told him to show them what he can do or go.
If we don't go up this loan won't be able to be repaid, then they will takeover on the cheap and can do it their way. If SD can do what he says he can which I and the majority of us don't think he can do, they take over anyway but he stays on for a bit and earns more money.
Either way they takeover, but it's sped things along a bit with wanting full control themselves.
A put your money where you mouth is test if you want to run one of our assets. If you're not up to it we get it cheaper and you jog on.
They will have seen what methods they used to buy the club doing their DD so may know that may be in a unsustainable model as they don't have the funds to run the club and had hoped on going straight back up and flipping it.
Elite businessmen won't pay extra for something that they know the previous person paid a lot less for. Maybe this is the amount that they actually put in to start with?
Or Satori pays the debt and they tell FPP to jog on, I asked before why would SD and co. give the club away for £9m and be publicly held over a barrel as you suggest?
Ronnie
Ronnie
That is true but what has he done so far?
Maybe he may still keep his % and it would just be SD & CM who lose theirs so FPP are majority? Unsure who owns what % but never know.
I think there is more at play we will soon find out and hopefully it just works out as a positive for the club.
Yep until we know a bit more we just have to hope for the best. KTF
Ronnie
Then why didn't they just borrow the money from Sartori in the first place?
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