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New buyers put off by £20 million hole in accounts

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PTR said:
That's how the glazers bought man utd. Loan to pay for it, then moved the loan into the club. Sweet deal if you can pull it off.

In our case, I'm utterly confused as to what's actually happened.
Seems like smoke and mirrors to me, and not automatically a bad thing.
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It was Semi explained at the time But most didn’t believe it. That sort of deals now illegal in English football iirc but because ES threatened to shut us down if the FL didn’t allow a deal to be done that way the FL give permission.
 
So how much would he need to sell it for just to break even on the investment?
 
Wayne The Punk said:
They will be lucky to get out with the money they put in, and they now owe the dell lads £10million, I hope it f***ing cripples them
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They’ll sell the SOL and AOL to themselves if the worst comes to the worst just before shutting us down. Then rent it back to the safc Phoenix club in a Coventry type deal. Been banging on about this for a while I have.
 
Guinness Guzzler said:
One thing I don't understand (and maybe GOM or someone will have a better idea) , is why sell 20% of Madrox for a quid? We all know that Sunderland is Madrox's only asset. So if they sell SAFC the money goes to Madrox, and in theory all the owners of Madrox benefit. So why did Donald let Sartori get a fifth of that potential benefit for a pound? Its not to get him involved and investing now because he hasn't been, and it's not to cash in on his great wealth and contacts later because he's been trying to sell constantly. Sartori seems to be getting an absolutely great deal here, even if the club plummeted and only sold for £5m he'd be laughing. So why did Donald do it?
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Reportedly (I don't know if it is true) it was a favour for lending Donald the money to make sure he passed the FA test as he didn't have enough (FA asked to see 50 million from Donald I think?). Charlie roped Sartori into it, on the belief that they could all make a quick but massive profit as we couldn't possibly fail to get promoted and then sold...
 
Black Cat Gypsy said:
People won't have a bad word said against them. Just look how badly the club is being ran! They are charlatans and con men.

Donald is a small time insurance man and a used car salesman

Methven runs a Mickey Mouse PR company.

Sartori is a fancy arse fruit and veg salesman.

They love to think they are big time players but they are a joke. It's simply small man syndrome. Donald and Methven seem to think they are the love child of Gordon Greco and Donald Trump but are more like Del Boy and Rodney.

Sartori likes to think he is Bolivar reincarnated but is a Uruguayan Nigel Farage.

These 3 clowns and their buddies will kill this club. They are failures at everything they do but seem to think they are smarter than everyone else.

Clowns.
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Thing is they had Just enough education to perform the roles of would be football club owners, just a shame a local businessman with the interests of the club at heart never signed up to it
 
I would expect that the club sometime in the next few days would surely make a statement about what is exactly happening going forward otherwise I fear it will have an alarming effect on future season card sales.
 
Lewberry pie said:
If it was me that's what I'd have done as well if it was a business I didn't care about it's a pretty simple way to make your money, being a football club though brings a lot of scrutiny and the fact sartori hasn't put a penny into the club makes you wonder what the fuck has gone on, maybe he's wanted to get him involved and sartori just isn't that bothered.
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I think Sartori just likes a day out mesel.
 
Grumpy Old Man said:
I can't, and i have no idea why they equivocated for a year before stating what was pretty bloody obvious once all you'd seen all the documentation.
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Maybe you should have listened to the people saying otherwise, instead of marking them as people who didn't have the club's best interests at heart?
 
wackyjacky said:
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.
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Does anyone actually know how much he's asking for the club? I mean actually know for certain.

Keep hearing this $40 million bandied about but has it actually been confirmed?
 
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