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Donald on our January budget

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TradingPlaces said:
Sartori told me to my face before Charlton game that he's put "very little money in this season" but if we go up to Championship "big things will be happening" His own words.

Impression I got from talking to him was that he will be running the show. IMO Stewart Donald won't be in charge for a long time. I think deal already in place for Sartori to take full control.
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Donald and/or Methven will still be Chief Exec, surely. He'll just sell his majority stake.

Would be sensible imo because Donald is not rich enough to fund a top-level Championship or Premiership club. But he knows a thing or two about running football clubs.
 

shaun61 said:
The parachute payment has been used to help them buy the club ??:rolleyes: Where did u get that load of baloney from, or are you just saying owt that comes in to your head ?
They have already admitted they aren't minted and that the Uruguayan guy will be needed to help us get out of the Chship if and when we get there.
But carry on denigrating the job they are doing on trying to turn this basket case of a football club round.:rolleyes:


Theres plenty banging on about signing more players if you care to read the various threads.
Their 'starting position' has been and still is, a tough one, and imo, they are making a decent fist of it so far.
Nee debt oh aye, but 40 plus million of their own money to buy the club, 20 million to pay the various fees owed, a good amount needed to cover weekly outgoings (club still losing money)...and probably a few other 'nasties' we don't know about.
Oh and as for the light abuse, leave it out, this is supposed to be a rational debate where views should be expressed in a manner without the need to stoop to that level.
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70m in parachute payments, debt wiped £40m to Short £25m legacy....they got this magnificent klerb and its assets for nowt
 
It’s a bit early to say whether we are promotion favourites or not but by Jan we should be in a better position to have a look what we still need

Hopefully we’ll of gotten rid of Ndong and Djilibodji by then and we can look to move on Cattermole and Oviedo to bring players in
 
Mary Hinge said:
70m in parachute payments, debt wiped £40m to Short £25m legacy....they got this magnificent klerb and its assets for nowt
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No, no, no. They can't access the parachute payments. They are paid to and received by SAFC Ltd. Because of accumulated losses, that company cannot pay a dividend and will not be able to do so for the foreseeable future. They could conceivably have SAFC lend them the money and then try to write off that debt, but that's likely to get a lot of attention from HMRC and the Serious Fraud Office. Also, the total parachute payments for this year and next are only £55m.
 
Mary Hinge said:
70m in parachute payments, debt wiped £40m to Short £25m legacy....they got this magnificent klerb and its assets for nowt
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they havent seen £70m in pacrachutes..they paud £48m for the club..the club is losing millions...they are budgeting to lose about 100k a week this season..who do you think is picking up that tab?

Mary Hinge said:
70m in parachute payments, debt wiped £40m to Short £25m legacy....they got this magnificent klerb and its assets for nowt
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they get zero in parachute payments..
 
kildaremackem said:
they havent seen £70m in pacrachutes..they paud £48m for the club..the club is losing millions...they are budgeting to lose about 100k a week this season..who do you think is picking up that tab?


they get zero in parachute payments..
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They haven't paid £48m yet, where do the para's go?
 
Mary Hinge said:
They haven't paid £48m yet, where do the para's go?
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the para's are the property of the club..they cant legally be used to pay personal debts without commiting fraud..they have used it to pay £20 million of debt ellis left behind..but becayse its debt to football, not banks, its called trade creditors. Stewart also mentioned they used some of it to buy sunderland out of contracts they had and wanted to terminate as they have better contracts..they are budgeting to run the club at a 3 5million loss. and because of the two twats and other players are on course to miss that target,,leaving a 100k a week loss..
so they cant use the para's to buy the club without going to jail
they didnt get the club free of all debt..
the club is budgeted to lose money so they will be putting money in
they are paying more than £40 million
 
Botchie said:
Ya hev bin put straight man ya git fookin bellend.
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Gan boil ya Fookin heed

kildaremackem said:
the para's are the property of the club..they cant legally be used to pay personal debts without commiting fraud..they have used it to pay £20 million of debt ellis left behind..but becayse its debt to football, not banks, its called trade creditors. Stewart also mentioned they used some of it to buy sunderland out of contracts they had and wanted to terminate as they have better contracts..they are budgeting to run the club at a 3 5million loss. and because of the two twats and other players are on course to miss that target,,leaving a 100k a week loss..
so they cant use the para's to buy the club without going to jail
they didnt get the club free of all debt..
the club is budgeted to lose money so they will be putting money in
they are paying more than £40 million
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When ye look at the assets, the famoos 30k they still got it for a Fookin song.......
 
kildaremackem said:
our tickets are very cheap..our 30k is worth a lot less than other teaams 25k...there is no doubt they got a bargain with the club..but to make a profit they will have to be very good at what they do and take massive risks...
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Oh who else gets 25k in League Wan......23 home games say Conservative £15 avg a ticket £10.3m a year covers the wage bill.the Don said we can cover the premier league wages nee bother, we aren't Fookin skint, but wa cutting wa cloth and clearing out the shoite contracts
 
Mary Hinge said:
Oh who else gets 25k in League Wan......23 home games say Conservative £15 avg a ticket £10.3m a year covers the wage bill.the Don said we can cover the premier league wages nee bother, we aren't Fookin skint, but wa cutting wa cloth and clearing out the shoite contracts
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10m covers the wage bill ??????
You mean the wage bill that currently stands at double that?
Where are you getting your "info" from ?
The latest SD podcast gives you plenty of kosher info, including stuff about the wage bill. Have a listen fhs.
 
shaun61 said:
10m covers the wage bill ??????
You mean the wage bill that currently stands at double that?
Where are you getting your "info" from ?
The latest SD podcast gives you plenty of kosher info, including stuff about the wage bill. Have a listen fhs.
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Dunno FFS mebbes just pulled it oot me Fookin arse or mebbes from the Hosses mooth in the OP, Fook me....


"We’ll see where we go with Papy and Ndong but the rest of the squad with the players that we’ve got, I think we’ve got the wage bill down from £20m odd, excluding those two, the existing squad is down to £11m. We’ve managed to halve it and the new squad has cost about £3m to put together."
 
He may have nee money of his own but his 2nd Bessie mate does, so just ask can you chuck in £20 million
 
Grumpy Old Man said:
No, no, no. They can't access the parachute payments. They are paid to and received by SAFC Ltd. Because of accumulated losses, that company cannot pay a dividend and will not be able to do so for the foreseeable future. They could conceivably have SAFC lend them the money and then try to write off that debt, but that's likely to get a lot of attention from HMRC and the Serious Fraud Office. Also, the total parachute payments for this year and next are only £55m.
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Er they won't owe Short a penny directly. It will be their newco buying company that does. That company (being SAFC's parent) can borrow the money as and when it likes without HMRC giving a toss.

HMRC only care about extraction to individuals in this scenario and an inter-group loan has no tax effect.

SAFC will also have guaranteed the payment by its holding company of the purchase price - otherwise it wouldn't be able to secure Short on the parachute payments in the first place would it?

There used to be a legal process called financial assistance whitewash that private companies had to go through to be allowed to assist in their own acquisition, but the requirement for this was abolished in 2006 when the new Companies Act came in.
 
Mary Hinge said:
Oh who else gets 25k in League Wan......23 home games say Conservative £15 avg a ticket £10.3m a year covers the wage bill.the Don said we can cover the premier league wages nee bother, we aren't Fookin skint, but wa cutting wa cloth and clearing out the shoite contracts
Click to expand...

According to Donald in the latest interview the wage bill is around 11m without Djilobodji and Ndong on it. They had budgeted for 10m and they're trying to get overall costs down from somewhere around 30m to closer to 20m. At least at the moment they've kind of explained what is happening with the parachute payments, in that it's in a pot of excess money and is being used (or will be used) to cover the losses in trading and the wage bill and maybe extra shit that comes up like 5m owed to Alvarez (possibly) and that there may be money left over, but at the moment we're still making a loss as they haven't budgeted to use them given they go down and then end. He also said we've just had to pay something like 3.something million on Ndong and there's another 3m owed on Djilobodji soon, with a bit more on Ndong later in the season and that to get some of the fees we did back on Khazri etc we had to allow payments to be staggered over a few years, whereas we haven't really got that facility with the money going out at the moment on the legacy payments so cashflow is another area which is tight and where the parachute payments are helping us.

Also - we wont have had all the parachute payments up front and although he said we can cover those larger wages he's just said it does hurt us in that there were four or five still here who expressed a desire to go and haven't and being tied to those wages doesn't allow us the freedom in the finances it might do.
 
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