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Takeover in trouble

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Grumpy Old Man said:
It's not so much that. Charlie's not that stupid. It's more that there are a number of groups involved. The checking is more a case of agreeing whether what was taken down by the minute-taker accurately reflects what was said. It's sort of pre-empting the usual committee thing of agreeing the minutes at the start of the next meeeting.
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I am sure he isn't. My post was more aimed towards people who are reading so much into the delay in releasing minutes from a meeting that from what I can see has never happened between another football club and its fan base
 
KittenMittens said:
Well there we go then. Thanks for the update.

Lots of people being precious about throwaway lines here. GOM chose to go to that meeting, he could have said no. I'm glad he did because I respect his acumen, but I do fundamentally disagree with some of his interpretation of the facts prior to the meeting. That makes me interested to see what has made him positive now based on their answers.

What should be more apparent to everyone is that it would be much easier if we had the relevant facts about this loan and what happened. The fact that Donald has deliberately set Madrox up in a way that would obstruct us ever knowing should tell it's own tale.
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Lots of football clubs have parent companies, firstly it’s how Rangers Managed to be a Phoenix from the flames rather than what should have been ash from the coffin
 
Wearside Wanderer II said:
Lots of football clubs have parent companies, firstly it’s how Rangers Managed to be a Phoenix from the flames rather than what should have been ash from the coffin
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Yeah that's great. But none of it is relevant to the fact that, when faced with a £9.6m personal debt, Stewart Donald moved £9.6m to Madrox, provided no information as to how it was used, then provides no repayment schedule of even the vaguest kind.

Yeah we shouldn't question that.
 
Grumpy Old Man said:
You will be privy to the minutes when they're released later today.
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It’s irrelevant what’s contained in them unfortunately. His mind is made up, if the contents are contrary to what he’s already decided is fact then he’ll dismiss it as falsehoods or a result of the questions being too soft (he’s already laid the groundwork for that). There’s a load of others in the same boat.
 
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Anyway, when the minutes are released it'll hopefully give us more to process, and hopefully some reassurance about a man taking out loans mid-season against next year's income because he thinks he has a £9m black hole in his finances, only to find that he doesn't, so that's good because he's only had to spend a third of next year's parachute payment in advance.
 
KittenMittens said:
Anyway, when the minutes are released it'll hopefully give us more to process, and hopefully some reassurance about a man taking out loans mid-season against next year's income because he thinks he has a £9m black hole in his finances, only to find that he doesn't, so that's good because he's only had to spend a third of next year's parachute payment in advance.
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They have been haven’t they ?
 
Grumpy Old Man said:
You need to understand that the Collective Meeting is not an adversarial forum. If it turned into that it wouldn't last very long - the club would bin it. It's a forum where supporters groups can raise questions, hear the answers, and, on areas like the matchday experience , collaborate to an extent (eg the redecoration of the Roker End). The supporters ask the questions and the club give their answers. Individual supporters can express their own opinion on those answers when the minutes are published. If we are confrontational, we won't get anything at all.
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Did ye bend the knee?
 
KittenMittens said:
Naysayers :D

You absolute lunatic. If Donald has loaned himself £9.6m, you are a mug if you label anyone questioning that as a 'naysayer'
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Think you need to take a breath mate.


Is there any information on potential takeovers?

Any reasoning why we are still reaching out to potential buyers if the point was we didn't need investment, we needed people for the long term that if we didn't do it now, we may not get the same chance next year?
 
KittenMittens said:
Yeah that's great. But none of it is relevant to the fact that, when faced with a £9.6m personal debt, Stewart Donald moved £9.6m to Madrox, provided no information as to how it was used, then provides no repayment schedule of even the vaguest kind.

Yeah we shouldn't question that.
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I'm not sure I understand what you think he can do with money in Madrox that he can't do with money in Sunderland. He owns them both
 
KittenMittens said:
Yeah that's great. But none of it is relevant to the fact that, when faced with a £9.6m personal debt, Stewart Donald moved £9.6m to Madrox, provided no information as to how it was used, then provides no repayment schedule of even the vaguest kind.

Yeah we shouldn't question that.
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Read the minutes ..

seanwharton said:
They have been haven’t they ?
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He’s owa busy getting his knickers in a twist to read them
 
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IB Concerns amongst supporters – When is money coming back into the Club. Is there an agreed timescale?

CM noted that the parachute payment money was always intended to pay off SBC bank debt, and that was
precisely the “money coming back into the club” – indeed, it is precisely what parachute payments are intended to
do.

The fact that a paper debt has been run up is practically irrelevant, as that money was never going to be spent
on players; it was always going to pay down debt, whether Ellis Short, Madrox or anyone else owned the club in
June 2018. So, no, the club does not get lucky enough both to pay off its debt and then receive the same money
again to spend on new players! Nor will it make any difference if a majority stake in the club were to be sold, as if
the owed amount of cash were to be placed in the club it would simply increase the purchase price by that sum.
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Red flag one: this is the money that Methven and Donald have been talking about drip-feeding back into the club. Doesn't sound like that's the intent.
 
OzzyMac said:
Correction.

We would have been on the scrap heap as we were very close to going under. The new owners reconnected with the fans and there was a feel good factor around the club albeit with a lot of hard work to do.

I would have loved us to get promoted but i'd much rather have a club to support whatever division it's in. Does that mean i don't want success? No it doesn't, it means that i realise that there's lots of hard work that needs to be done to get us back where we want to be.

The season before last was a failure as there's no way a premier league squad should achieve back to back relegations.

I suggest that you actually pull your head out of your arse as you so eloquently put it.
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You keep swallowing the shite then fella. Glad you’re happy.
 
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