• The forums will be unavailable for a few hours on Saturday 6th June, when they do return they will initially be in a degraded state with some features missing, but normal posting/reading will be possible. The main website will not be affected by these updates.
    New user registrations are currently disabled.
    Some other features of the forum are also currently disabled.

New buyers put off by £20 million hole in accounts

Status
Not open for further replies.

Grumpy Old Man said:
That would seem logical. And that's a bigger stumbling block than any balance write off.
Click to expand...
Can understand the stand off if there is one tbh. All well and good wanting SD to walk away but would anybody walk away without a profit without a fight? I still think he wouldn’t leave us in bad hands either for what it’s worth
 
GuestServices said:
Can someone summarise 60 pages please ?
Click to expand...
There is a worldwide virus where thousands of people are dying every day. We will probably be locked in our homes for most of the next year or so and some people might be lucky to have a job to go back to after that. There will be no Footy with fans allowed for a season and we may go bust due to most of our income coming from match revenue. The two saviours who took over the club are actually lying twats who have pinched 20 million quid of the parachute money for themselves. And sold 20% of the club to Juan Sartori for a quid so they could pretend to the League that they had any money.

Oh and the Mags are soon to be taken over by the richest investment group in the world.

That just about covers it.
 
sksk3021 said:
No idea how to value a club even more so in the current climate. I can’t see them wanting to sell for £15m.
Click to expand...
“No reasonable offer refused” if they’ve any sense at all. Get while the gettings good cos footballs heading for a summer of discontent.
 
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.

Surely it’s different, owners said they was going to pay back the 20 mill then decided against it and then the money they did put in becomes a debt to Madrox from the club, I would call that damaging maybe not legally but definitely morally
Click to expand...
 

No, it's the opposite. There was an amount owed by Madrox to Sunderland for the balance of the parachute payment. This has been written off in the books of Sunderland, meaning that balance no longer exists. Capital injections after the write off crate an amount owed to Madrox by Sunderland. Having the balance that way round could actually be more attractive to a buyer, because it would make anything they put in potentially recoverable. If they were simply paying down an amount already owing to the club, that wouldn't be the case.
 
Status
Not open for further replies.
Back
Top