New buyers put off by £20 million hole in accounts

[luvulongtime]

To be honest they’ve bluffed and blagged so much it’s hard to make sense of any of it. I’ll try an analogy...

Say you buy a drug dealers mercedes for £40k. You put £15k of your own money in and get a loan/finance for the other £25k. A few weeks later you find £25k hidden in the boot. If you use that £25k to pay off the finance you now have a debt free asset worth £40k. So even if you sell it straight away for £35k you’re still £20k better off than when you started. The money in the boot was never yours but you’ve used it to make you better off. The parachute payment is the equivalent of the money in the boot.

then the drug dealer remembers he left 25k in the boot and blows your heed off for nicking it

 

[TDalt]

Praying they're still interested

What, having to pay 40 mill and then fund the transfers and wages to get us back to the Prem? No f***ing chance. It’s like buying a f***ing five year old Fiesta ST for 30k!

 

[cluffy]

Is this love that I’m feelin

 

[Chizno1]

Praying they're still interested

Praying they're the ones that have leaked this.

 

[Mowgli]

Do you think their money is for infrastructure or is it likely just providing another years parachute type of finance for running costs?

Donald claimed he could pay it back st any time, or sartori could.

Are we supposed to believe this now? Especially sartori who has invested £1 into the club. He would now pay off the £10m loan? Bullshit

 

[woodlebert]

Is the gist that they used parachute payments to pay for buying the club & now the club have written off the money that was owed to it by the owners?

Fantastic question. I would love to know the answer

 

[Grumpy Old Man]

My hope is that they've seen the books, know Donald is fucked and are waiting it out until the shit hits the fan and he's ready to bail out. Hopefully someone has just sprayed the fan with a ton of shit.

Sadly, I find it hard to believe that Craig Hope has the best interests of SAFC at heart. I can only imagine he's now sitting in lockdown having poked the hornet's nest cackling like Montgomery Burns.

 

[Mowgli]

Sadly, I find it hard to believe that Craig Hope has the best interests of SAFC at heart. I can only imagine he's now sitting in lockdown having poked the hornet's nest cackling like Montgomery Burns.

And the Times newspaper too?

Instead of blaming Donald we just crack jokes about the reporter yeah?

 

[woodlebert]

No one should be surprised.

Can you explain the situation?

 

[tunstallhill]

so they paid £11m for the club
they owe the club £21m

they need to sell for £32m just to break even, walk away with nothing, and leave club debt free and with no one owing money to it?

 

[Ashley In!!]

Sadly, I find it hard to believe that Craig Hope has the best interests of SAFC at heart. I can only imagine he's now sitting in lockdown having poked the hornet's nest cackling like Montgomery Burns.

It's in the Times too written by their national chief sports reporter. Why refuse to acknowledge that?

 

[lozza]

Sadly, I find it hard to believe that Craig Hope has the best interests of SAFC at heart. I can only imagine he's now sitting in lockdown having poked the hornet's nest cackling like Montgomery Burns.

not just craig hope though is it, it's the times and the athletic to come

 

[beezer]

then the drug dealer remembers he left 25k in the boot and blows your heed off for nicking it

Or in this instance a mob of angry mackems!

 

[Charmless Man]

my thinking was taking over and running a football club is much more hassle than just selling bits to get your money back.

Bearing In mind I know nothing of business and Ive had many, many alcoholic beverages.

But even at the most simple level, three extremely successful investors from the states haven't loaned ten million to a league one club in a provincial English city just to sell the stadium off as scrap on the off chance it goes bust!

 

[Bears Beets]

Sadly, I find it hard to believe that Craig Hope has the best interests of SAFC at heart. I can only imagine he's now sitting in lockdown having poked the hornet's nest cackling like Montgomery Burns.

he doesn’t I agree, he’s a mag bellend but for 3 separate publications to report on it then I think there’s some truth.

 

[ISOE II]

I think at one point Sunderland & District Teacher’s A.F.C. had to sell a parrot belonging to a board member to keep afloat.

Nope we raffled a canary to keep the Mags afloat

 

[mag in peace]

But even at the most simple level, three extremely successful investors from the states haven't loaned ten million to a league one club in a provincial English city just to sell the stadium off as scrap on the off chance it goes bust!

This. Unless they have other plans for the grounds etc (highly unlikely) the only reason they would have invested 10m (a paltry amount for them) would be to secure the club and allow their potential takeover.

 

[Deleted User 11453]

Nope we raffled a canary to keep the Mags afloat

Thank you. My memory is shot. I have some information somewhere about the 3 fundraising matches we played to help out the mags.

 

[rentaghost]

This is all down to the people of the north east football fans in particular not understanding finance. Charlie said so.

 

[JC91]

Sadly, I find it hard to believe that Craig Hope has the best interests of SAFC at heart. I can only imagine he's now sitting in lockdown having poked the hornet's nest cackling like Montgomery Burns.

Mr Burns does not cackle