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New buyers put off by £20 million hole in accounts

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Helmerroids said:
Through all the obfuscation the message I get loud and clear is that Donald is going nowhere until he gets us out of League 1. At which FPP will take a majority holding, with SD able to walk away with a profit, or stay in a capacity of FPP’s choosing.

Trying to be optimistic (not easy I know), best hope is that we emerge from the wreckage of this season with a squad bolstered by some of the better players from the teams that really hit the financial skids. I think PP is capable of getting us out of the league, we’ve little choice anyway. Maybe the players will respond positively to no crowd, away teams won’t up their game as much.

That’s as much glass half full as I can muster!
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We're doomed then.
 

6inarow said:
Like everything we have heard from them I still find that article very confusing bordering on contradictory. On one hand we are in 2 years into a 5 year plan with our overseas investor looking to come and live in London - On the other hand we are committed to selling the club to the right people with the best vision for the club
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Hold on a minute... you found the club to be contradictory in statements?
 
Grumpy Old Man said:
It increases the value of the shares in issue by £9m. That becomes a factor in the valuation.
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The value of the shares? Surely the real world value is determined by the performance of the club? Obviously they have put the £9m in as shares but if it was as simple as that Ellis Short would have got a whole lot more for the club than £12.7m
Helmerroids said:
Through all the obfuscation the message I get loud and clear is that Donald is going nowhere until he gets us out of League 1. At which FPP will take a majority holding, with SD able to walk away with a profit, or stay in a capacity of FPP’s choosing.

Trying to be optimistic (not easy I know), best hope is that we emerge from the wreckage of this season with a squad bolstered by some of the better players from the teams that really hit the financial skids. I think PP is capable of getting us out of the league, we’ve little choice anyway. Maybe the players will respond positively to no crowd, away teams won’t up their game as much.

That’s as much glass half full as I can muster!
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I have little faith in the football performance of the club. They’ve shown time and again that they don’t know what they’re doing on that front. Certainly Donald reiterated his lack of understanding in his most recent public comments on the subject We’re left to put our faith in a man who has failed at his last three positions in Rodwell. I struggle to muster a glass - never mind half fill it.
 
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The Cabbage said:
The value of the shares? Surely the real world value is determined by the performance of the club? Obviously they have put the £9m in as shares but if it was as simple as that Ellis Short would have got a whole lot more for the club than £12.7m

I have little faith in the football performance of the club. They’ve shown time and again that they don’t know what they’re doing on that front. Certainly Donald reiterated his lack of understanding in his most recent public comments on the subject We’re left to put our faith in a man who has failed at his last three positions in Rodwell. I struggle to muster a glass - never mind half fill it.
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It's one of many factors. Share valuation isn't an exact science.
 
-The reports on Friday allege that Juan Sartori paid just £1 for his shares in the club. Is this the case and what is the justification for this?

Madrox responded: “Juan Sartori has invested millions of pounds into Sunderland and has done so via Madrox on an interest free, debt free basis to the same proportion as the other investors.”

Millions

:lol: :lol: :lol: :lol:
 
Helmerroids said:
Through all the obfuscation the message I get loud and clear is that Donald is going nowhere until he gets us out of League 1. At which FPP will take a majority holding, with SD able to walk away with a profit, or stay in a capacity of FPP’s choosing.

Trying to be optimistic (not easy I know), best hope is that we emerge from the wreckage of this season with a squad bolstered by some of the better players from the teams that really hit the financial skids. I think PP is capable of getting us out of the league, we’ve little choice anyway. Maybe the players will respond positively to no crowd, away teams won’t up their game as much.

That’s as much glass half full as I can muster!
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So the yanks still want us then? (Working so haven’t got time to read the article.)
 
Is it any different to how drumaville ran things? Except as we had a level of success no one cared? Not starting an argument just asking a question
 
Grumpy Old Man said:
The FPP loan has to be factored in as well. It's hardly a coincidence that the share issue in Sunderland was virtually identical to the sterling value of that loan. It's about £20m themselves (which includes the £12.6m for the shares) plus the loan amount, which has come from Madrox, even if it's not the ultimate source of that money.

At the risk of sticking my head over the parapet, I'd say those answers have been written by a lawyer.
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GOM is this part true?

“With regard to the query over timing, what we can confirm for those who are not accountants or are not familiar with the process of producing financial year end accounts is that we had to write this off in the financial year to 31 July 2019 due to the fact that the accounts were signed off post the FPP financing, so the 'tidy up' exercise we went through in October 2019 had to be reflected in July 2019 to show a true position. This is perfectly normal accounting practice.
“For those fans that are not aware, companies are given a number of months to finalise their figures before they are signed off and published and there is nothing unusual in this process.”
 
Black Cat Gypsy said:
And how do you know we want go into administration? Do you have access to the accounts? And don't say GOM said so because he hasn't. He has explained how deals like this work and he can't give a final verdict until he sees the end of year accounts.

So how do you know we won't go into administration?

Yeah that's how them managed to come from the brink of oblivion to becoming one of Europe's top clubs.
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Positivity makes a huge difference sweetie
 
poisson said:
Is it any different to how drumaville ran things? Except as we had a level of success no one cared? Not starting an argument just asking a question
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There are very few clubs that don't have shareholder loans (Burnley are the obvious example). Chelsea owe Abramovic somewhere north of £1bn. Personally, I think they're a bad thing, because it encourages clubs being run non-sustainably.
 
If they invested a few million of the parachute payments they took and didnt talk about till they were found out, paying over god knows how long, likelihood is we would have beem back in the championship
 
Don’t believe a word they say. They’ve openly lied on podcasts. Saying one thing then another. It may as well have been written by Pinocchio. Until we have new owners the club will be run into the ground.
 
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