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New buyers put off by £20 million hole in accounts

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Jonny A said:
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
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I don't see that as terribly damaging. It changes the dynamics of any deal slightly, but shareholder loans to football clubs are more or less universal (with the honourable exception of Burnley, who have no loans of any kind on their books.
sksk3021 said:
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.
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If you tot up share price, FPP loan, etc, it comes in at around £30m.
 

sksk3021 said:
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.
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They’ve said in their rebuttal they’ve put £25m of funding in - to add to the confusion. I’d guess that this is £16m plus the £9m from FPP. It’s an absolute mess - but the cold hard truth is that any asking price over £15m is an overvaluation of the club.
 
The Cabbage said:
They’ve said in their rebuttal they’ve put £25m of funding in - to add to the confusion. I’d guess that this is £16m plus the £9m from FPP. It’s an absolute mess - but the cold hard truth is that any asking price over £15m is an overvaluation of the club.
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No idea how to value a club even more so in the current climate. I can’t see them wanting to sell for £15m.
 
Skippo said:
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.
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:lol: :lol: :lol:

Good attempt I’ll give you that.

The deal breakdown has changed about 20 times since they “bought” us
 
The Cabbage said:
They’ve said in their rebuttal they’ve put £25m of funding in - to add to the confusion. I’d guess that this is £16m plus the £9m from FPP. It’s an absolute mess - but the cold hard truth is that any asking price over £15m is an overvaluation of the club.
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That £25m is vague and ambigous. I make their total outlay:

Purchase of shares £12.7m
Capital input put in prior to write off £5m (the difference between the £25m of parachute and the £20m written off
Capital injection post write-off £2.5m
FPP loan injected into Sunderland as share capital £9m.

Total £29.2m. This is probably Donald's bottom line.
 
Grumpy Old Man said:
That £25m is vague and ambigous. I make their total outlay:

Purchase of shares £12.7m
Capital input put in prior to write off £5m (the difference between the £25m of parachute and the £20m written off
Capital injection post write-off £2.5m
FPP loan injected into Sunderland as share capital £9m.

Total £29.2m. This is probably Donald's bottom line.
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I think it may be a bit lower as they tend to round things in their favour but it’ll probably be closer to yours than the £25m Still over £10m more than someone is likely to pay though.
 
it's a perfect storm all this coming out when this virus is on the loose every club's value will have dropped with no certainty about future revenue
 
luvulongtime said:
it's a perfect storm all this coming out when this virus is on the loose every club's value will have dropped with no certainty about future revenue
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There’s a not insignificant chance SAFC might have played its last game. The club is in a mess and our big USP of crowds/ticket money versus other clubs in our league has just gone up in smoke for the foreseeable
 
Grumpy Old Man said:
I don't see that as terribly damaging. It changes the dynamics of any deal slightly, but shareholder loans to football clubs are more or less universal (with the honourable exception of Burnley, who have no loans of any kind on their books.


If you tot up share price, FPP loan, etc, it comes in at around £30m.
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So if the asking price is 35m now he wants 5m profit even in this division?
doon toon said:
Think a lot of posters might be in for a pleasant surprise in the not too distant future !! I haven't posted for a long time but felt the need to.
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Go on?
 
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