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New buyers put off by £20 million hole in accounts

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Grumpy Old Man said:
We'll be able to see by comparing the loan debtor in SJD with the loan creditor in Madrox. Any difference can be inferred to be Sartori (unless CM actually out cash in, which I find doubtful).


That was naive in the extreme, and really just meaningless twaddle to get the fans onside.
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Just a shame to be honest, it appears I'm too naive.

I dont think you should get to say what you want to win plaudits and then go against that.
 

Grumpy Old Man said:
Because the separation of legal personalities is important. His connection to Sunderland is indirect, and that matters in a number of contexts. It's not simply semantics. It has legal meaning.
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Well if that's the case then SD and CM dont own a percentage of SAFC then, but they do own a percentage of Madrox, load of bollocks man, he owns 20% of our club which ever way you want to dress it up
 
South Banker Wolf said:
There's no such thing as being self sufficient in the Prem. As soon as you get there you are talking about new contracts 30-50 k a week at least. Villa spent 140
mil and they are struggling. Fulham as much the season before and got relegated. The Prem is full of billionaires. Even the likes of the Coates lot at Stoke. Personally I do believe and hope that you get good buyers but you are talking at least person fortunes of half a billion in the Championship. Your academy could be key but if SD is selling your young lads for a steal you are going to struggle. Football is a game for the mega rich these days and the Championship gets you a seat on the top table. SD is on the fruit machines. I might be wrong and believe me I as a Wolves fan want you to succeed. I'm just saddened to see your plight right now. Couldn't give a flying one when it was Norwich , Sheffields's , Leeds etc. I think I speak for a lot of Wolves fans.
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Must clubs in the premier league make a profit now. Yes they have high costs but income is huge as well.
 
I always thought that Sartori’s involvement wasn’t to broaden the investment net outside the UK?
 
I just can not see you sell 20% of your company for £200 without having some very stringent agreement on future investment
 
Ashley In!! said:
I'd tweak that slightly and say when we are told stuff we're entitled to have an expectation that it's accurate.
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I think so.

Its bizarre to me that all the negative stuff comes with I told you it would be like this what else did you expect and all the positive stuff that we were told, we were naive to believe it.
 
Grumpy Old Man said:
If he is asking for more than £30m, yes. And that could well be a far bigger sticking point than anything to do with the intercompany balance.
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Why are sticking up for these clowns unless you have evidence to prove FPP can take over the club as a result of the evidence there publicly available then we are screwed
 
sksk3021 said:
Must clubs in the premier league make a profit now. Yes they have high costs but income is huge as well.
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You are right but unless you are selling players on eg Southampton probably Wolves when we have to sell Traore Neves Jota etc then how are some teams operating at a profit. Bournmouth get 10k fans. No one apart from Bournmouth fans buy their tops same as Brighton Burnley etc. With Billionaires come top notch accountants who can invent numbers. Man City were never a global club unlike Utd Liverpool and probably you guys and Mags.Eddie Howe has spent the budget of a small country and where has he moved players on at a massive profit?
There's a lot of hands being greased in the Prem and that will never change.
 
South Banker Wolf said:
You are right but unless you are selling players on eg Southampton probably Wolves when we have to sell Traore Neves Jota etc then how are some teams operating at a profit. Bournmouth get 10k fans. No one apart from Bournmouth fans buy their tops same as Brighton Burnley etc. With Billionaires come top notch accountants who can invent numbers. Man City were never a global club unlike Utd Liverpool and probably you guys and Mags.Eddie Howe has spent the budget of a small country and where has he moved players on at a massive profit?
There's a lot of hands being greased in the Prem and that will never change.
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I think Bournemouth were one of the few to make a loss, but they got about £110m in tv money out of total revenue of £135m.
 
South Banker Wolf said:
You are right but unless you are selling players on eg Southampton probably Wolves when we have to sell Traore Neves Jota etc then how are some teams operating at a profit. Bournmouth get 10k fans. No one apart from Bournmouth fans buy their tops same as Brighton Burnley etc. With Billionaires come top notch accountants who can invent numbers. Man City were never a global club unlike Utd Liverpool and probably you guys and Mags.Eddie Howe has spent the budget of a small country and where has he moved players on at a massive profit?
There's a lot of hands being greased in the Prem and that will never change.
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TV and competition money.

Unless your wage bill is out of control which is easily done you can run at a profit.in the premiership. Its probabley the easiest league in the world to do so.

I'm not sure what your wage bill is but as they are doing such a good of buying under value, your assets will have make up any difference I would have thought.
 
JamesTu said:
What would the logic be in selling 20% of a company which has an asset which you value at 40 mill for £200?
Is there some financial trick as to why this makes sense?
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Donald himself only put in £1,000 in share capital initially. Anything else flowing through Madrox had been in the form of loans from one or more of the shareholders or FPP. It makes sense if the sale is in the expectation of future capital injection into Sunderland via Madrox using shareholder loans.
 
Grumpy Old Man said:
The sad truth is that Donald is one of the worst business communicators I've ever seen. He's perfectly capable of contradicting himself in a single sentence. He doesn't prepare, he is (to use a phrase beloved of civil servants about ministers) not on top of his brief, and has an alarming habit of extemporising under the slightest pressure. Frankly, I'd never let him near a microphone.
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This was perfectly illustrated when he began to answer questions on Jack Ross’s tactics on STID only for posh pants to intervene and save him from further embarrassment.
 
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