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New buyers put off by £20 million hole in accounts

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Botchie said:
Caulkin has been insufferable lately and had his head so far up the mags arses. If it's enough to tear him away from that then it must be something big. Where did you get that from marra?
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someone posted it further up from twitter
 

wackyjacky said:
Well apparently the accounts were sent to prospective buyers so I assume they've been leaked from one of them, obviously the club will know who they've sent them too, I wouldn't have thought that list would be too long. Maybe they've been leaked from one of them to put exactly the kind of pressure on the owners the backlash from the fans will do.
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Could also have been leaked by a member of staff.
 
Ghandi Floss said:
Unfortunately, this is something I heard from a very good source yesterday.
He said he wasn’t 100%, but sadly it’s looking to be so.
I really hope something gives soon, as this may just be one of many shit things coming up for the club.
He should just sell up for 30m if he has any takers on that price, he’ll still have doubled his money, and we might get someone competent to run the club.
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I begrudge the useless bastard a penny of profit. He should be taking a loss. He’s a disaster.
 
Makes Donald's "I never changed my asking price" statement seem like yet another half truth. Yes he probably didn't change it, he probably asked for £40m initially then still asked for £40m when once the prospective buyers had found the £20m hole in the finances. No wonder people walked away
 
Grumpy Old Man said:
Could also have been leaked by a member of staff.
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Could have been yes although the papers are just saying about the prospective buyers although that could be a cover story.

Apparently The Athletic with George Caulkin and others are working on a big Sunderland story that they've been collecting data on for quite a while, could get even more uglier.
 
Ericsgate said:
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?
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Let's wait for the accounts. The Mail's interpretation of the use of the parachute was proven to be bollocks. They could be right this time. When the accounts are out, I'll comment in full. I'm not going to set up a lynch mob on the back of a Mail article. If it turns out to be true. then it's legal, arguable from one standpoint, and morally reprehensible from another. I'm perceived as biased; the reality is I attempt to see and balance all sides of an argument.
 
Was their plan to sell the club before the accounts were released, then leg it?

Maybe that means we're closer to being sold than we thought.

Yes, I'm in full on straw clutching mode.
 
Botchie said:
Caulkin has been insufferable lately and had his head so far up the mags arses. If it's enough to tear him away from that then it must be something big. Where did you get that from marra?
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I copied the tweet marra, big story coming out about us

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Hi Connor. I write about Newcastle but a whole selection of writers from The Athletic, including George, are working on a big Sunderland piece, which they have been gathering material for over a long period
 
I'd rather wait until I've seen accounts etc. to comment, and do think Donald is entitled to his say (might not be worth much), but that looks absolutely horrific.

A quick take (@Grumpy Old Man you'll know better) is that to write off £20m would post a huge going concern risk, so if they do get signed off as a going concern (which most firms aren't doing at all atm) then it suggests a post balance sheet capital injection? Even that seems non-sensical to me.
 
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