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New buyers put off by £20 million hole in accounts

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flusheding said:
Absolute ground hog day on here.

The 25mill club loan to SBC, being paid for by the parachute payments as part of the agreement to buy the club, has been discussed so many times on this forum over the last 2 years.

Every single time you get a lot of people talking about "stealing the clubs money" when it was part of the purchase agreement with Short that the parachute payments will cover the loan.

Gets boring as hell to read.

The legitimate complaint is that Donald basically lied/didn't make it clear how the whole purchase was financed, yet it turns into "he owes us this/he owes SAFC that".
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Well that last bit as well as asking a price for Safc that is ridiculously inflated - leaving safc in limbo with a disastrously bad owner and no immediate hope of sale. When he does finally sell he’ll be lucky to get out without a significant loss. There is no way that this abject performance equates to ‘double your money’ for that incompetent clown.
 

jsdftm04 said:
The owners personally claimed the money would be paid back, then it's in the accounts as a write off.
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yeah, once they openly discussed the financing and that it was agreed with Short the parachute payments were paying off the clubs debt at point of purchase and so technically it was actually a "40 million" purchase price, people started saying "so wait a second, will the club get that 25 million back?" and Donald being Donald starting going "yeah sure!" then "well, I'll do it slowly when needed" and it may turn out to be "no"

As I said, absolutely legitimate to argue and complain that Donald is often essentially a liar, but I get bored of the talk that he stole 25m to buy the club, when he didn't factually do that. He agreed with Short the parachute payments would pay off the SBC debt. Anything afterwards that Donald says about putting funds into the club is a separate topic.
 
englishman abroad said:
I think it might be an idea for Donald releasing a statement clarrifying whether the report is true or not. As it stands there's a lot of very unhappy punters that that have no idea whats going on with the club.
Be interesting to see how many season ticket holders cancel the direct debits because of this.
Worrying times indeed
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Would you be able to trust what he says? He seems to me to be incredibly dishonest.
 
The Cabbage said:
Well that last bit as well as asking a price for Safc that is ridiculously inflated - leaving safc in limbo with a disastrously bad owner and no immediate hope of sale. When he does finally sell he’ll be lucky to get out without a significant loss. There is no way that this abject performance equates to ‘double your money’ for that incompetent clown.
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yeah, an asking price plucked out of thin air is another legitimate complaint no one should be able to strongly argue against.
 
englishman abroad said:
I think it might be an idea for Donald releasing a statement clarrifying whether the report is true or not. As it stands there's a lot of very unhappy punters that that have no idea whats going on with the club.
Be interesting to see how many season ticket holders cancel the direct debits because of this.
Worrying times indeed
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Port the debt will be mentioned about 98 times on the radio on Monday.
 
I would normally be all,over this as I have and will always be in the Donald out camp, however with there currently being a global pandemic knocking about that has killed ( by sketchy at best ) figures upwards of quarter of a million people,,,,one of my best friends included, I have to say I really don’t give a toss to be honest. Football has been exposed for what it is during this pandemic. I don’t care for it.
 
flusheding said:
yeah, once they openly discussed the financing and that it was agreed with Short the parachute payments were paying off the clubs debt at point of purchase and so technically it was actually a "40 million" purchase price, people started saying "so wait a second, will the club get that 25 million back?" and Donald being Donald starting going "yeah sure!" then "well, I'll do it slowly when needed" and it may turn out to be "no"

As I said, absolutely legitimate to argue and complain that Donald is often essentially a liar, but I get bored of the talk that he stole 25m to buy the club, when he didn't factually do that. He agreed with Short the parachute payments would pay off the SBC debt. Anything afterwards that Donald says about putting funds into the club is a separate topic.
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I think the gist of the story is not about this but rather they're still asking for £35m-£40m and having written off £20.5m it's put off prospective buyers because of the 'black hole'. No way can they still try for £40m if they've written that money off.
 
brisbanemackem said:
Your obviously upset and I did not mean to offend you as I know you are a die hard fan, I was just pointing out that we had an ongoing debate about the finances and your stance was staunchly pro-Donald, whereas I said the accounts would not be filed promptly and would reveal everything. You admitted you had shared a few drinks with them, which can colour anyone's judgement. I am not suggesting for one minute any questions about your integrity or your obvious financial expertise. In fact when the accounts are eventually published we will all look to you for your expertise. At this point it seems my analysis and was correct though but if I have caused you any personal offense then I unreservedly apologise
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Ah'm gannin out on a limb here, but the part where the gent said libel may have indicated he was slightly miffed with you.
 
The most surprising thing about this is that it has taken the daily mail nearly two years to cotton onto this. What is more important to us is why no one is prepared to pay £30m for a top ten club in England?
 
flusheding said:
yeah, once they openly discussed the financing and that it was agreed with Short the parachute payments were paying off the clubs debt at point of purchase and so technically it was actually a "40 million" purchase price, people started saying "so wait a second, will the club get that 25 million back?" and Donald being Donald starting going "yeah sure!" then "well, I'll do it slowly when needed" and it may turn out to be "no"

As I said, absolutely legitimate to argue and complain that Donald is often essentially a liar, but I get bored of the talk that he stole 25m to buy the club, when he didn't factually do that. He agreed with Short the parachute payments would pay off the SBC debt. Anything afterwards that Donald says about putting funds into the club is a separate topic.
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Agree with this. After he buys the club it’s his club. If that was the agreement then that’s the agreement. The alternative was possibly still Short as owner.
 
Lonz said:
He’s simply asking for too much money then. It’s incredible naive of him if he thought that wasn’t going to get noticed under the slightest bit of scrutiny.
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...showed on STID2 how carried away Donald gets during negotiations. Grigg situation was embarassing. His mate, Hill laughing his tits off like it was a game of Monopaly.🤬🤬🤬🤦‍♂️
 
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