‘The real story of the takeover’

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JohnKay said:
Read article, my conclusion .. FTM / FTMagedia
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All he needed to do was have a glance through some of the threads on here regarding this transaction. He’d know in a heartbeat that anything published would have legs as there is an audience there waiting for output like this. Some of it is spite some jealousy and some concern. Whether these attitudes exist within our general support I wouldn’t know, but I’d doubt it. Most are footy fans that just want a club to support. This alleged journalist has previous for this kind of thing, and the timing of it is no accident. He may have gained slightly more credibility if he’d left out the petty and snide remarks but he couldn’t help himself. Now many will focus on those and dismiss this out of hand.
 


So what? I seriously don’t give a flying fuck one way or t’other how it was funded, whether he’s ready to sell and whether they make a profit is their business. It’s their club, which at least they’ve allowed us to have an affinity with again, they can do whatever they like. I’m sure a Man City supporter isn’t at their owners throats over ffp breaches, it’s all about success and the feeling that gives you, and that’s what Donald and co are trying to give us, so good luck spending your cash stewie and thank you.
 
Secret Visage said:
Not necessarily. They may have decided to pay short off earlier, using this and replacing it themselves, which I think you'll find is what comes out in the wash.
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Exactly this as far as my limited understanding goes. They had 2 years to pay Short the 40 million he was owed.

Say that the cash flow has been better than expected and this has allowed the parachute payments to be used to pay off Short a year early. This would probably be done in the form of a structured loan to the Donald/Methven/Sartori parent company by SAFC with defined payment timescales and terms etc. I don't think the parachute payments could go straight from the club to Short as he is not owed money by the club, he is owed by Donald.

The club would then have no outstanding securities against it, and would be owed £25 million from Donalds parent company. The parent companies assets are basically shares in SAFC.

In the meantime, investment is sought by Donald/Methven with the club being valued at c.£50 million.

An investor purchases 50% of the parent company (hence 50% of the share interest in SAFC) for £25 million, and that £25 million is then used to repay SAFC for the parachute payments. If an investor doesn't come in then the parent company still needs to repay the loan to SAFC.

The club would then be in the same financial position it was in before the parachute payments were used, the new investors would have been sold an investment in a club with no club assets secured against any external debts.

@Grumpy Old Man any of this sound feasible? :lol:
 
This thread is a fantastic example of why alot of good posters dont bother on here anymore or anywhwere near as much. It becomes a one man show thread after thread

Botchie said:
I would have sat and read the last 20 pages and listened carefully to the views of Sunderland fans. However I only needed to read the first few pages to realise this was going to quickly become about one person and one person only. This forum is becoming worse I'm afraid.
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This
 
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sksk3021 said:
Haven’t seen that. Where did you get that from?
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The article, subsequently confirmed by Donald on Twitter.

“But an £11.92m loan from merchant banking group Close Brothers, which was secured in April, has enabled the payments up until August to be advanced and much of it paid out via Madrox Partners.”

Twitter
 
Linus said:
Do those issues cause him to throw in comments specifically designed to antagonise other people?
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I do wonder, I've tagged said lad to ask if he's ok on the depression thread when I hadn't seen him post for a while recently so I really have no agenda like one or two do but the last thing I want when I'm struggling is a war of words on here with others.
Something doesn't add up for me but I guess we are all different, he does love to stick the boot into the owners and let everyone know.
 
JAR7391 said:
Nothing new in that story. Was common knowledge Short was going to get the parachute money this season.
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what is new is that the journalists dont seem to think juan sartori owns the club...

The Rat said:
There is no sane person can say they have done more than Short like, he paid off over £100 million quid ma
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aye he did well in that regard-other owners have done it at clubs-but not many..

The Sheepfolds End said:
It’s bizarre that seemingly a fair bit of research has gone into it and then they’ve gone lowest common denominator in style. Could have been a very good article but they lose credibility with the tone.
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its also a lack of research in that they dont seem to be aware that juan has a stake?
 
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prehab26 said:
Think we all know that Donald needs to clarify further. They got a great deal and during many podcasts , it was said that the pp wouldnt be used to the extent that the article is suggesting. Hope we get some clarification. However, they have done a good job here and made the organisation more financial viable so need credit for that.

That said, the article is trying to kick up a stink. A few days before a huge game. So that's worth taking into consideration
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He’s clarified things a million times over but until he admits he’s a total scumbag chancer then a certain % of our ‘support’ won’t be happy.
 
Julio said:
This thread is a fantastic example of why alot of good posters dont bother on here anymore or anywhwere near as much. It becomes a one man show thread after thread



This
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I honestly stop posting responses to threads these days because unless you strike lucky and get a bit of debate with a couple of good posters it’s predictable agenda driven shite.

Not claiming to be a good poster by the way.
 
kildaremackem said:
what is new is that the journalists dont seem to think juan sartori owns the club...


aye he did well in that regard-other owners have done it at clubs-but not many..


its also a lack of research in that they dont seem to be aware that juan has a stake?
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Juan doesn’t own the club?
 
As long as we can look forward to another season of scintillating one one draws I don't give a shit about the financial side
 
The General said:
Daily Mail editor is one Geordie Greig. Unless his middle name is gravy I don't know how much more mag you can get.
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he is an old etonian much of an age with CM..

The Sheepfolds End said:
Separate the sports section to the news section. They’re almost entirely separate entities when it comes to sport. To use other examples, Caulkin and Atherton write for the Times. I don’t think either are pro-Murdoch.
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in most newspapwers all bar the editor and the politica wrters have nowt to do with the owners and dont nescessarily agree with the world view..
 
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