New buyers put off by £20 million hole in accounts

[Grumpy Old Man]

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

Legally, he doesn't. It's a simple as that. Indirectly, you're right, but the key word here is indirectly.

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.

You misunderstand. They were naive, not you.

 

[Coeus]

Legally, he doesn't. It's a simple as that. Indirectly, you're right, but the key word here is indirectly.


You misunderstand. They were naive, not you.

Yea no, I wasnt implying that you said that. Its my assessment for believing them.

 

[Gazoliver]

Can someone summarise 60 pages please ?

Yeah. Until we see the accounts it's all speculation and counter speculation.
Worth ready Grumpy Old Man's posts as he understands the accounts and legalities.

 

[ironman]

I'm not sticking up for anyone. I'm just stating facts as I see them. I'm sorry if the facts don't fit your narrative.

Fine so where does this leave FPP because if they by default own the club who will be prepared to buy it after seeing the accounts

 

[Duncan H]

Fuck off Stewart and Charlie

 

[South Banker Wolf]

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.

Agree we have always had a strict wage limit. Even the likes of Neves was on 60k a week. We are different because some how we got Mendes on board so we mainly have young Portugese lads that are on the way up. I suppose what I'm saying is I do not believe that Bournmouth are operating at a profit. Same with Brighton. Listen I may be wrong but when you have Billionaires involved they can quite easily sneak the odd 20 mil in. I mean look at the buyers of the Mags. The FA don't give a shite. Too many people on a hell of a lot of money to stick their nose in. It only happened to city because Barce and Madrid were jealous of their spending. And that's a bloody joke considering Madrid have been bank rolled by the Spanish government for donkeys.

 

[Grumpy Old Man]

Fine so where does this leave FPP because if they by default own the club who will be prepared to buy it after seeing the accounts

Anyone who backs off because of an accounting entry relating to a cash flow that happened two years ago, which has no impact on our current cash or trading position, would probably not be the best owner anyway. Despite Hope's language. it's not a hole in the sense of the Alvarez stuff crawling out of the woodwork is a hole. The problem, pure and simple, is that Donald is overvaluing the club. That's all. FPP still have their loan, irrespective of anything Madbob might say, and they're just keeping a watching brief. They'll have their own thoughts on what the club's worth. and you can be sure they won't part with a penny more.

 

[Coeus]

Agree we have always had a strict wage limit. Even the likes of Neves was on 60k a week. We are different because some how we got Mendes on board so we mainly have young Portugese lads that are on the way up. I suppose what I'm saying is I do not believe that Bournmouth are operating at a profit. Same with Brighton. Listen I may be wrong but when you have Billionaires involved they can quite easily sneak the odd 20 mil in. I mean look at the buyers of the Mags. The FA don't give a shite. Too many people on a hell of a lot of money to stick their nose in. It only happened to city because Barce and Madrid were jealous of their spending. And that's a bloody joke considering Madrid have been bank rolled by the Spanish government for donkeys.

I think the money being sneaked in is more likely at the top clubs rather than those with small gates. The small clubs are not a disadvantage due to receipts being meaningless compared to tv money. Average wage being so far ahead of foreign leagues etc..

Your lot buying neves when you could have sold him the following day for twice that in the championship always seemed odd to me. Wasnt like he was an unknown.

 

[ilovehorswill]

The whole thing just sounds like a complicated mess.
Perhaps intentionally.

Certainly very hard to untangle, even Stew gets confused

 

[Skippo]

I might be lost, but was this not announced at Donald's takeover? Is the only difference now that he may not necessarily pay it back? Also, if he didn't put a timescale or schedule on when it is paid back will it realistically affect our budget? I get that it looks worse on a balance sheet.

 

[South Banker Wolf]

I think the money being sneaked in is more likely at the top clubs rather than those with small gates. The small clubs are not a disadvantage due to receipts being meaningless compared to tv money. Average wage being so far ahead of foreign leagues etc..

Your lot buying neves when you could have sold him the following day for twice that in the championship always seemed odd to me. Wasnt like he was an unknown.

Not really mate. He was the youngest ever Champions League captain at Porto. Utd and Liverpool were sniffing around but then interestingly enough Nuno dropped him and he didn't get much game time. I think he will go to the Scousers eventually. In all honesty I can't stick Bournmouth. I think they are a piss pit club with an over rated manager. Would much prefer SAFC in the Prem.

 

[I am Boss]

I might be lost, but was this not announced at Donald's takeover? Is the only difference now that he may not necessarily pay it back? Also, if he didn't put a timescale or schedule on when it is paid back will it realistically affect our budget? I get that it looks worse on a balance sheet.

New member defending the crook...

Fuck off, Stew.

 

[Skippo]

I might be lost, but was this not announced at Donald's takeover? Is the only difference now that he may not necessarily pay it back? Also, if he didn't put a timescale or schedule on when it is paid back will it realistically affect our budget? I get that it looks worse on a balance sheet.

Ignore me, read the blog post from the other thread. Good write up.

 

[Coeus]

Not really mate. He was the youngest ever Champions League captain at Porto. Utd and Liverpool were sniffing around but then interestingly enough Nuno dropped him and he didn't get much game time. I think he will go to the Scousers eventually. In all honesty I can't stick Bournmouth. I think they are a piss pit club with an over rated manager. Would much prefer SAFC in the Prem.

I think Barac. I found it odd as value usually comes from lesser known players in my opinion.

Bournemouth are a funny one, I think their wage is out of control isn't it?

 

[Deleted member 41188]

they don’t have to put it back.. they were just stupid to say they would.

They don’t. But they can’t then value the club based upon it being paid back, when it won’t.

 

[sksk3021]

They don’t. But they can’t then value the club based upon it being paid back, when it won’t.

If what they are saying is correct they have already put most of it back.

 

[Grumpy Old Man]

If what they are saying is correct they have already put most of it back.

Not if the balance written off was £20m. Money over and above the share issue may have come in, but that will now show as a balance owing to Madrox, not a reduction in the balance that was there before.

 

[Safc88]

Nice summary. A lot of the article is supposition but the biggest concern was that FPP were interested in buying the club but this scared them off - Donald was peddling that nonsense that FPP were interested in investing in him rather than the club.

I don't honestly know. I'd say that I doubt he tried very hard to find a more positive interpretation.


So were Charlton and Blackpool.

were their owners as wet

Tbf the chief reporter is Matt Lawton with Hardy as support, I've no knowledge of Lawton having any allegiances to the mags. I've no doubt Hardy might put a negative slant on it but Lawton is their main sports reporter so not sure why he would want to do it. As you say it's fishy as fuck and more to come out, no doubt.

Read somewhere there's supposed to be an expose on Sartori coming soon, will be interesting to see what that says.

f***ing hell you know its just gunna be more bad news to ads to this shitstorm

 

[Jonny A]

Not if the balance written off was £20m. Money over and above the share issue may have come in, but that will now show as a balance owing to Madrox, not a reduction in the balance that was there before.

So this could be the more damaging news thats being hinted at possibly, started to pay the money back then written it off so the money ie 12 mill or whatever it is is they put in is now owed by SAFC to Madrox

 

[sksk3021]

Not if the balance written off was £20m. Money over and above the share issue may have come in, but that will now show as a balance owing to Madrox, not a reduction in the balance that was there before.

It seems to me they have liabilities of about £30m in the club and want that plus a bit of profit back. Which would tally with the £35m asking price.
There is so much smoke and mirrors, mistruths and errors that it’s very hard for any layman to have a clue what is really going on.