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New buyers put off by £20 million hole in accounts

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It would be interesting to find out what the owners value the club at. Surely they can't be looking to make a profit with whoever buys the club having to fund a £20 million pounds shortfall.
My biggest concern now is that SD will sell to whomever will pay him the most and not who has the clubs best interest at heart
 

Grumpy Old Man said:
To be honest, while this is causing a lot of noise, it has little or no bearing on the trading position going forwards. The £25m cash left the club nearly two years ago. The writing off of the debt has no cash impact.
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So what you're saying is the fact that Donald said he'd be paying that money back in over a few years, but has now opted to write it off completely and not do so will have no cash impact. Seriously, do you have any idea what you're talking about? :lol:
 
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mackemal said:
It would be interesting to find out what the owners value the club at. Surely they can't be looking to make a profit with whoever buys the club having to fund a £20 million pounds shortfall.
My biggest concern now is that SD will sell to whomever will pay him the most and not who has the clubs best interest at heart
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Agree, think that’s his plan and don’t think it’s ever changed from day one if I’m being honest.
 
Gurneysgurn said:
What’s Sunderland and Bury got in common? A piss-taking sheister. And to think some people still think Donald has saved SAFC.
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The_Sultan said:
The more I read about this, the more it reminds me of Craig White's takeover of Rangers.

What's the point of the fit and proper owner shit when chancers who can't fund a club are allowed to take over?!!
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I really hope people's blind hatred of SD does not make them so naive that they welcome without caution the 'new messiah' who buys this club.
Right now we are more vulnerable than ever, and my dread is that if you think SD is bad, just wait and see what is coming next.
 
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mackemal said:
It would be interesting to find out what the owners value the club at. Surely they can't be looking to make a profit with whoever buys the club having to fund a £20 million pounds shortfall.
My biggest concern now is that SD will sell to whomever will pay him the most and not who has the clubs best interest at heart
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I've been saying this since the summer. If Campbell and his consortium had the money he would have sold. I'd be interested to see what happened with that deal? I know Campbell failed to buy Falkirk but he was on his own with that deal. But I think he was being backed by a group when he wanted to buy us. I'm wondering if his consortium pulled the plug when they saw the books?
 
mackemal said:
It would be interesting to find out what the owners value the club at. Surely they can't be looking to make a profit with whoever buys the club having to fund a £20 million pounds shortfall.
My biggest concern now is that SD will sell to whomever will pay him the most and not who has the clubs best interest at heart
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And that's how FPP got him in a tight spot. Any other interested party would have to pay 10m more than them now.
 
Black Cat Gypsy said:
You do realize they took £25m out of the club as a loan and won't be paying it back? Donald sold 20% to Sartori for £1. That means he values the club at £5. They haven't put their own money in.
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plenty on here can afford it at 5 quid then. any takers???? anyone??? bueller??

it's absolutely disgraceful and shameful some of this stuff that's been written by people with nothing more than an agenda to kick us while we're down.
no risk, no money, he's just bought the club for a fiver. What the actual fuck?

i'll give you a tenner to buy the club if it's that f***ing simple.
no aimed at you BCG. Sorry.
 
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Summerbee said:
plenty on here can afford it at 5 quid then. any takers???? anyone??? bueller??

it's absolutely disgraceful and shameful some of this stuff that's been written by people with nothing more than an agenda to kick us while we're down.
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What agenda? Donald has lied to us from day 1!

Honestly, what would the national press get out of this? At least by exposing this story we can see what a bunch of charlatans and con men we have running the club.
 
Evester said:
Quite a turn a round of events. The Piss Taking party stops now and along these lads have been the leaders :rolleyes:
On another note, the Covid 19 is going to fuck football as we know so if you had money, would you invest now or once things are clearer? This is why I admire Ashley if he can get his asking price.
Talk of football being played behind closed doors so loss revenue in tickets, merchandise, tv revenue and fuck knows what will happen with corporate packages. As a company, what do you try and do, save yourselves or spend cash on football tickets?

As for the TV deals, will this mean the bubble has burst and there will be no where near the money thrown at it? Granted the Premier appeal will be there but to the people who are struggling financially globally, so you try and keep your head above water or spend money on TV packages? Pubs and clubs will not get the people in so can they afford tv deals?

It is early and my boy has kept me awake so sorry if not making sense but this pandemic, football will not be the same and for those wanting Donald out, whilst this is going on with the economy, we are stuck with him for some time and it could mean the club sinks to lower levels
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Except Ashley is not getting his asking price. It is at least £40m less than he was asking and for the reasons you describe it is a fire sale (of sorts). That will hurt him because his avarice meant he has foregone a lot of money he could have had last year.

Schadenfreude allows me to smile imagining Ashley as a distressed seller having to crawl back to Amanda Staveley and put the deal back on. No doubt this allowed her to knock £40m off his asking price.

Let’s look forward to more Ashley related karma as his liabilities as one of the countries largest commercial retail space renters catch up with him. Furthermore he must be sitting on a mountain of low margin stock that he either cannot shift or will have too at discounts that make losses. Sorry, I got lost in happy thoughts.

Ashley prides himself on “parking his tanks on the lawn” when it comes to making deals essentially because he can bully the counterpart being the dominant player in the negotiation. Not this time Staveley played the long game and spanked him good and proper.
 
Don’t get me wrong I’ve always been critical of the deal as the parachute payments were our lifeline. It seems to me that ellis’ asking price was £40m or at least that he was only willing to pay off part of the debt. The people he sold it to couldn’t afford the £40m which meant the amount of debt left in the club was higher.

Had he accepted £15m for the club and left £25m of the SBC loan in the club then we’d have begrudgingly accepted the parachute payments would need to be used to pay that off. Instead they acted billy big bollocks and made a whole host of shit up. I’ve said all along they wouldn’t pay this back as they’ve used the clubs money to pay back a loan the club had taken out.
 
Sterobbo said:
#donaldout #bringbackshort
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No one is suggesting the latter there like. He signed off on this deal despite there being other people involved who were willing to put more up front, his final bad decision. They must have fed him the same shit we got and he must have fallen for it just as hard
 
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