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New buyers put off by £20 million hole in accounts

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Sabre Mag said:
Things like this just highlight how powerless fans are now. It appears an owner can do what ever they like with a club that means so much to so many and all you can do is sit back and hope it somehow gets better. Footy is proper fooked now like.
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A lot of people will be worrying about jobs and the business they have built up over the coming months. When football comes back and spare income is even more scarce folk will think twice about handing over season ticket money to these wide fuckers.
 
Father Jack Hackett said:
As I said, as much as a section of your fans acted like complete pillock, at least you don't sit and quietly whilst someone takes the piss out of your club.
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I think there’s a happy medium like, but I can only say from an outsider looking in, as much as we can look like spoiled bastards sometimes, it also seems maybe you can be too apathetic?

I dunno, it’s hard isn’t it? Ultimately at the whim of owners. It’s shit and I hope for the sake of your club someone does rescue you coz it seems increasingly likely that might be what you need. End of the day whether we like it or not I do think Newcastle and Sunderland need each other because without that neither of us would have much really!
 
Ashley In!! said:
"The explanation given to us by the owners is that writing off the debt was a condition of the £10m loan they took in October 2019 from US investors FPP, who had reversed on their initial intention to buy the club after undertaking due diligence.

However, the accounts we have seen - which the club have delayed publishing - are for the year ending July 31, 2019, raising the question of how did FPP insist on the debt being written off at least three months before making the loan agreement?"

Good question.
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It is a good question, do we have an answer?
 
Botchie said:
I know this isn't a great piece of news, but I'm glad the press now seem to be digging and asking questions.
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In fairness to the Mail they did an expose on the initial takeover deal too when no-one else was interested. Sadly at the time the vast majority of supporters were completely taken in by their bluster and absolutely hammered the journalists responsible online. It was embarrassing.

Good on them for sticking at it and I’m certainly grateful they are.
 
Botchie said:
A lot of people will be worrying about jobs and the business they have built up over the coming months. When football comes back and spare income is even more scarce folk will think twice about handing over season ticket money to these wide fuckers.
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I think owners take fans for granted. Covid will change things.
 
The Sheepfolds End said:
In fairness to the Mail they did an expose on the initial takeover deal too when no-one else was interested. Sadly at the time the vast majority of supporters were completely taken in by their bluster and absolutely hammered the journalists responsible online. It was embarrassing.

Good on them for sticking at it and I’m certainly grateful they are.
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I said as much in a previous post, marra.
 
Steeeeed said:
I love the quote from the club basically saying "ah you'll have to ask madrox mate, that's got fuck all to do with us." :lol:

@fyl2u tagged just for a laugh.
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You rang?

I see a lot of unsubstantiated speculation in that article, and then quotes that seem to say the opposite of what the article says has been going on. :lol:

Pretty much exactly what you'd expect from a Daily Fail article. :lol:
 
Ashley In!! said:
Looks like grumpy was completely wrong about the delays on the accounts being the fault of the accountants for not signing them too. They are clearly complete.
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Grumpy, presents himself as a financial genius but he is prone to misguided interpretations of Sunderland’s finances.

I consistently said the Finances were perilous and Donald was a gambler whose failings would be revealed in the next accounts.

The last time we debated it was impossible to reason with Grumpy’s point of view so I stepped back from the debate saying “let’s wait for the accounts”.

Well Grumpy?
 
Mary Hinge said:
Fans groups were reet up his hoop for 12 months....whee's Plan B Jackie?
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What's plan A?

Buy a club for next to nothing using other people's money, give it a lick of paint and flip for a profit.

Donald is a chancer and so are Methven and Sartori. They don't care about the club. They took us all in with their sitting in with the fans and traveling on supporter buses have pints. All the while they were conning us to deflect attention from what they were doing. They conned us all but after a while the majority of us saw through it. RAWA and the fanzines saw him for he is. A chancer and a charlatan.
 
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