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You have spectacularly failed to address the point I was making mate.If it isn't paid then we have new owners. Unlike previous arrangements where failure to meet payment would have resulted in administration.
The loan is the responsibility of the Madrox shareholders. Yes, they could borrow money or take dividends from SAFC to repay it, but equally they could pay it from their own resources.
surely if they had 10 mil in their own resources they'd use it instead of taking a loan out, risk losing the club and save on the 'vig' on the loan
Madrox has the debt not SAFC, there is a difference.It’s anything but fine. Donald has had to renege on his statement of delivering Safc as a debt free club because he simply lacks the knowledge and ability to get Safc out of league one under his own steam. We are now in debt to an organisation who we think have good intentions - but don’t know. Hopefully this precipitates him leaving the club but there are no guarantees.
I must admit, I wasn't so upset at the end of last season, as the club had made huge changes from the Fiasco that we were left in at the end of ES' reign, but this season, I have waited for an upturn, but the opposite seems to be happening. When SD and CM moved Catts on in the way they did, it did set alarm bells ringing, but I thought it was just me being negative and I gave them the benefit of the doubt. However things appear to be on a terminal slide and I am getting seriously concerned. CM can't even put a decent spin on anything now. There don't appear to be any positives. It's admirable the they've balanced the books, but at what cost?! The future is not at all looking positive and the fact that SD will not even go to games now would appear to be an untennable turn of events. The January window is going to be too little too late to turn this around I fear.
So do I mate!
I'm not sure how long I can stomach this league with the players we have!
It was reported not long after he took over and he said himself on one of the early podcasts he was looking at the option of a loan. It's no coincidence that this is the same amount that was reported then. I seriously don't see why people are worrying about this.
Mostly agree, not sure SD & co deserve any stickThis.
It just doesn’t make any sense whatsoever for FPP to screw us over. Even if there were a few million profit in it for them, they’re billionaires. They’re not going to destroy a football club they’ve become attached to for what would be loose change. They may well be hard nosed businessman, but they’re not fools and the negative exposure they’d get would damage their credibility. They know what SAFC means to a great many people.
They want to run it and make it successful, imo. They’re outsmarting SD and CM and will end up getting the club at a price that suits them, not the current owners.
SD and CM are getting stick, and deservedly so, but it’s a bit daft turning on FPP before they even own us!
I think they’re our only hope right now. Unless we have a change of ownership, I can see us in a relegation battle next season...
surely if they had 10 mil in their own resources they'd use it instead of taking a loan out, risk losing the club and save on the 'vig' on the loan
YesDo fans of other clubs get so worked up over things like this?
Me. I know this to be 100% fact.Says who?
Is that what happened to Coventry?So when Donald ultimately fails, the Yanks will own the SoL & AoL, and most likely perform some sort of sale and leaseback on the property.
Very worrying.
That 10m will have been the figure they expected by flipping the club.surely if they had 10 mil in their own resources they'd use it instead of taking a loan out, risk losing the club and save on the 'vig' on the loan
Yeah, I know, that's what I was saying - that they were using USD (12) to qualify it as eight figures (10 or over) when it was actually 9 sterling. But as you say, the amount was mainly described as around eight figures - only some outlets misreported it or rounded it upIt's $12m, roughly £9m at current exchange rates.
This looks like a huge clutching of straws.This looks a very smart move by FPP. The loan of £9 million, means they could get a club valued at £15 million (when JS bought in) at a discount. Firmly puts the onus on SD and CM to get this right or the three including JS, will take a £6 million loss plus whatever has gone from the £9 million and any additional they've had to put into the club themselves.
The investors are smart; why chuck all your money in when you can keep it ticking over and buy it bit by bit as the current owners get increasingly desperate.