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New buyers put off by £20 million hole in accounts

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pwsafc said:
He's running it now, I don't get involved in financial stuff as haven't got a clue about it. Reading GOM posts he seems to understand it all and doesn't seem to worried
They already had the club before they brought satori onboard
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Yes he is, into the ground. If you can't see anything wrong with what's going you are either extremely stupid or just ignoring what's going on. The Times, The Mail, Chris Whetherspoon, Wise Men Say, Roker Report, ALS and Kieran Maguire all seem worried.
 

Reading the rest of the forum, I think it is going to be a case of let's see. Stating the obvious I know but over the last few years we were on the verge of being taken over by a German Consortium that were going to bring in Tuchnel.....we had Ellis for another year and Grayson.
We were then linked with Red Bull god know how many times....yet to see even a can of red bull served at the ground.
The Dell lot, came and fucked off.

Honestly, can't keep up with it all. Off to watch what Boris says....hopefully he makes sense
 
samaistonsrightfoot said:
Think crowds will be back earlier than we expect tbh.
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I really don't know pal. Social distancing is the 2020 phrase. I might be wrong of course. I just can't imagine SD being in the exec box and getting a load of flack. He'd probably burst into tears. CM's another one. Fine when the going is good. Missin in action when not. Personally I don't want the Prem starting as I think behind closed doors matches are a load of shite. You lot are my second team. Never met a dodgy Mackem. Mags on the other hand arrogant and opinionated.
 
Black Cat Gypsy said:
Yes he is, into the ground. If you can't see anything wrong with what's going you are either extremely stupid or just ignoring what's going on. The Times, The Mail, Chris Whetherspoon, Wise Men Say, Roker Report, ALS and Kieran Maguire all seem worried.
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OK it's in the papers, it must be true! Someone on here has already explained all the stuff about the finances and doesn't seem too worried. All this they are running the club into the ground is just rubbish. You might not like them or agree with them, but what businessman would buy a business and run it into the ground
 
pwsafc said:
OK it's in the papers, it must be true! Someone on here has already explained all the stuff about the finances and doesn't seem too worried. All this they are running the club into the ground is just rubbish. You might not like them or agree with them, but what businessman would buy a business and run it into the ground
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What about Kieran Maguire who is a respected financial expert has called it a mess.

Too right I don't trust them. They told us Sartori bought 20% of the club for £3m but it turns out it was a £1!
pwsafc said:
OK it's in the papers, it must be true! Someone on here has already explained all the stuff about the finances and doesn't seem too worried. All this they are running the club into the ground is just rubbish. You might not like them or agree with them, but what businessman would buy a business and run it into the ground
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Black Cat Gypsy said:
What about Kieran Maguire who is a respected financial expert has called it a mess.

Too right I don't trust them. They told us Sartori bought 20% of the club for £3m but it turns out it was a £1!

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And, a lot of the stuff they have brought up we already knew about. Really not bothered what financial experts say that have nothing to do with the club.
 
I’m not suggesting for one second that this is what has happened but the below is not an unusual model for businesses when there is a lot of money at stake or funds need to be proven.

A small business wants to win a large contract, but the client looks at the books of the small business and thinks that they are too big a risk and suggests that they need a bank guarantee to ensure that they are covered in the event of an issue. Said small company forms a separate arrangement with a financier and they cover the guarantee to the bank, thus allowing the bank to issue the guarantee to the client.

It wouldn’t surprise me if it is something like this that has allowed Sartori to enter the fray for what appears a minimal investment. I doubt that there are bank guarantees to the EFL but it wouldn’t surprise me if there it is some sort of similar financial arrangement.

If I remember correctly, Sartori was excluded from the initial set up as they thought that it would delay the EFL approval, but I wouldn’t be surprised if he is attached to the capital that was utilised for SD to purchase the club in the first place....
I.e. the capital that was used for the purchase was funded and backed from elsewhere not actually SD’s money at all.

Then the issues for any investors would surround, not just the apparent £20m alleged deficit, but the source of the initial finance if they were subject to full due diligence and what the expectations are of the financiers to exit their financial arrangement.


I don’t have any knowledge of the above and it is pure speculation.
 
pwsafc said:
And, a lot of the stuff they have brought up we already knew about. Really not bothered what financial experts say that have nothing to do with the club.
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So you only believe or take the opinion of people who are connected to the club. In other words, people only say positive things about us and ignore anyone who has anything negative because you choose not to believe it.
 
Black Cat Gypsy said:
Neither does GOM but you said you are happy with what he said!
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He does critise the owners, but he seems to understand the accounts that get released which is more than most on here including me. What he says doesn't seem to warrant all the people on here saying we are going bust
 
pwsafc said:
He does critise the owners, but he seems to understand the accounts that get released which is more than most on here including me. What he says doesn't seem to warrant all the people on here saying we are going bust
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But you said you don't care about what other people like Maguire say because they don't work for club. But you are happy to take GOM account as being ok.

Why take his over Maguire's? Both have the same access to accounts!
 
Black Cat Gypsy said:
But you said you don't care about what other people like Maguire say because they don't work for club. But you are happy to take GOM account as being ok.

Why take his over Maguire's? Both have the same access to accounts!
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Why is there such a difference in there reports then? GOM got stuff right in the past when of the papers printed a article with something to do with the parachute payments which turned out to be wrong
 
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