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New buyers put off by £20 million hole in accounts

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Botchie said:
For the first time in over 20 years I'm sat here wondering why should I hand over any season ticket money to this fucker. No doubt someone will be along to tell me how much the club need it. Well the club also needed the parachute money.
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I’m of the same thought as you, this is a big discussion in our WhatsApp group and there’s a fair few saying they’re not going to renew.
 

gavrocks said:
Some on here don't mind the owners majority detest them and some are undecided but the vast majority of us have the clubs interests in out hearts I for one never trust anything printed in the media and if the people who wrote this article have the so called proof can someone who use social media ask them to show the proof
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companies house, that's the 'leaked' document
 
Just wait till the Mag takeover is confirmed, I’m sure that will make all this seem better.

At least we know why this Rodwell fella was appointed, the new Martin Bain.

We fell for their crap, simple as that.

Now we have a situation where we’re in the hands of the gods, don’t rule out these charlatans when desperate selling to a Steve Dale.

They may just be the worst thing to happen to us ever.
 
Botchie said:
For the first time in over 20 years I'm sat here wondering why should I hand over any season ticket money to this fucker. No doubt someone will be along to tell me how much the club need it. Well the club also needed the parachute money.
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I think the £20 million would probably go a bit further than my £400
 
Grumpy Old Man said:
I'm not sure this particular ruckus is going to improve those chances though. Or, even worse, he sells up to someone like Campbell.
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The issue here is that whilst it would be almost impossible for an owner to do a worse job than Donald on the pitch, the saving grace for him has always been the financial side. Now we’re starting to see the erosion of that. Tbh, if he brings that DoF along with him, Id probably rather have Campbell than Donald. Maybe neither have a pot to piss in but at least Campbell sounded like he’d thought about coming up with a plan for the football side.
 
The Cabbage said:
Yeah. This would be half a story - or at least a story about the ridiculous asking price he’s asking. However they deliberately misled the fans to think they’d paid more for the club than they actually had and then told further lies to cover things up. Quite why they’d do this is beyond me. The only thing I can think is that they wished to disguise quite how little funding they actually had to prevent the fanbase from going crazy. Daft thing is they really didn’t need money as much as they needed intelligence. Sadly for the fans they’ve got neither.
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The obvious thing at the time would have been for Ellis to swallow his pride and leave the £25m in the club. People would still have appreciated the amount he had written off, and, possibly, have been more accepting of the parachute being used to pay off an obvious cluib debt, payable in full by July 2019.
 
Grumpy Old Man said:
No, no, no. Sartori owns 0% of Sunderland. He owes 20% of Madrox, shares which he bought from Stewart Donald. What he gave Doanld for those shares is utterly irrelevant to the valuation of Sunderland.
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Nonsense to be fair. If Sunderland was worth ten billion that deal wouldn't have happened for the price stated.
 
tunstallhill said:
still dont understand it like

the club was due £25m in parachute payments in the year after donald bought the club. donald was supposed to use this money for players, wages etc.. but used it to pay off the clubs debt, that he was supposed to have already paid off with his own money?
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He said he was paying that money back. The accounts show he isnt
 
Lewberry pie said:
It sounds like he's trying to shaft whoever buys the club rather than the club itself but if we could have had the MSD lads involved and he's fucked that up then he has ruined what could be a once in a generation opportunity, personally I think they'll end up owning the club at some point.
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Let’s hope so marra.
 
Forty said:
Class #Donaldout is trending on twitter niw loads of Yanks looking at it thinking its about Trump.
I always said i would keep my opinion open about Stewart Donald until there was some concrete evidence came out. Looks like we are there now with £20m disappearing into a black hole.
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Its not even in the top 30 trending. Jim davidson is higher!
 
The Cabbage said:
The issue here is that whilst it would be almost impossible for an owner to do a worse job than Donald on the pitch, the saving grace for him has always been the financial side. Now we’re starting to see the erosion of that. Tbh, if he brings that DoF along with him, Id probably rather have Campbell than Donald. Maybe neither have a pot to piss in but at least Campbell sounded like he’d thought about coming up with a plan for the football side.
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Via RAWA, I had a phone conversation last summer with someone claiming to be Campbell. It was set up by someone I know well and trust. Frankly, the call scared the shit out of me. He's certainly someone I wouldn't trust not to sell and leaseback the SoL (see Coventry for the problems that can get you into).
 
red apples said:
I think the £20 million would probably go a bit further than my £400
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That's not really the point though is it? 400 quid is a lot of money to the majority of us. Money that could easily be used on tons of other stuff. That money is now the clubs main source of income because the parachute money has been squandered and we're now in a worse position than we were when we first received it. I won't be telling anyone how to spend their money, but I'll be having a good think about how I spend mine.
 
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