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New buyers put off by £20 million hole in accounts

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Grumpy Old Man said:
The way it had to be done created a balance between SAFC and Madrox because Madrox were the signatories for the deal. If the deal had gone as originally planned, the parachute would have gone straight to Drumaville. That's actually against PL rules, so it had to come to Sunderland first. There are two factors causing discontent here. Firstly, the mixed messages coming from the owners about whether that money would be put back into the club. As you say, the money went on discharging a club debt, but there is one moral argument saying that the club has been deprived of the benefit of the parachute. It really is arguable either way. Secondly, that after writing off this balance, Donald's asking price is too high. Totting things up, they've spent £12.7m on the shares, put around £7.5m of their own cash back in, plus the £9m FPP loan (which hit the club as share capital). That leaves them needing about £30m to break even.
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Right so the upshot and what we should be enraged about - if we accept the moral argument is arguable either way - is that they’re trying to add about 10/15 million allegedly to the asking price for their personal profit when they’ve done fuck all to warrant it. They should take whatever they can get. Hopefully the 30m and be gone because that’s really all they deserve. Their money back and nowt else
 
Grumpy Old Man said:
The way it had to be done created a balance between SAFC and Madrox because Madrox were the signatories for the deal. If the deal had gone as originally planned, the parachute would have gone straight to Drumaville. That's actually against PL rules, so it had to come to Sunderland first. There are two factors causing discontent here. Firstly, the mixed messages coming from the owners about whether that money would be put back into the club. As you say, the money went on discharging a club debt, but there is one moral argument saying that the club has been deprived of the benefit of the parachute. It really is arguable either way. Secondly, that after writing off this balance, Donald's asking price is too high. Totting things up, they've spent £12.7m on the shares, put around £7.5m of their own cash back in, plus the £9m FPP loan (which hit the club as share capital). That leaves them needing about £30m to break even.
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thanks, I understand it now and failing to see what they’ve done wrong.. the parachute money went on paying a debt owed by the club. Donald and Methven didn’t owe SBC £25,000,000.
 
Flea Market Trader said:
Not hate at all. I just figure you’ve not seen any accounts previously before giving your opinion, so why do you need to see accounts this time without again seeing no accounts.

I presume you have seen evidence of the evidence

Unfortunately I’m sure there are many others on here too.

Aren’t they giving out their opinion based on the times article though.
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Of course I haven’t but I trust him he’s one of us.
 
sksk3021 said:
Or cuts costs and he doesn’t need to put anything extra in.
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we need to rebuild the squad in the summer or whenever it starts again, we won’t be left with much once loans / out of contracts go

add to that lack of income from fans, likely drop in season tickets and probable drop in corporate income then i’d be surprised if we aren’t in trouble without investment from owners
 
Gaz said:
we need to rebuild the squad in the summer or whenever it starts again, we won’t be left with much once loans / out of contracts go

add to that lack of income from fans, likely drop in season tickets and probable drop in corporate income then i’d be surprised if we aren’t in trouble without investment from owners
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So we will have to do what everyone else in this league does, pick up free transfers, pay wages within our means. Major problem is we haven’t really shown much ability when throwing a bit of money about so with none it’s going to be even harder.
 
Found this link on jim Rodwell too,
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I’ve stuck it up as a thread too but whole thing is concerning when all of this is coming out.
 
Comeback_Kenwyne said:
I don't see why you think there is an asymmetry between the "keyboard warriors" complaining, and you on the other side furiously fawning over Donald.
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Whee's fawning, millionaire cockney chancer had a go at turning us round and make a quick buck, pretty obvious wot they are but falling way short...
When's a lerkel hero gonna step up? Plenty on here.....
 
ighty seven said:
thanks, I understand it now and failing to see what they’ve done wrong.. the parachute money went on paying a debt owed by the club. Donald and Methven didn’t owe SBC £25,000,000.
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The only reason they own the club is because they agreed to use the clubs Para money to pay SAFCs/Shorts debt.
If they hadn’t then they’d possibly be in no better position to buy out Short than The Armstrong-Gray Gang or the Mystery Germans or Mystery Spaniards who presumably didn’t want to do that.
Then both parties were economical with the facts of the deal until the facts came out at Companies House.
 
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gavrocks said:
Always thought Craig hope was a mag until I read some reports on the guy the f***ing mags hate the **** think he is a mackem as he prints such shite on them seems to be someone you can't trust hopefully he has started something he can back up because if not he might end up in court shortly
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As some on who knows him personally I can categorically state he is staunch mag.
 
riffraff said:
The only reason they own the club is because they agreed to use the clubs Para money to pay SAFCs/Shorts debt.
If they hadn’t then they’d possibly be in no better position to buy out Short than The Armstrong-Gray Gang or the Mystery Germans or Mystery Spaniards who presumably didn’t want to do that.
Then both parties were economical with the facts of the deal until the facts came out at Companies House.
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would Micky Gray pull £25m out his back pocket to finance a debt ran up by Ellis Short like? The club got in debt, owners used clubs money to pay clubs debt. Can’t see the problem me.. I caveat this with I still wish they’d fuck off mind.
 
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