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New buyers put off by £20 million hole in accounts

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A Clean slate is what they inherited, a huge club on its knees , but with massive potential and 30k plus ready to support the club at its lowest ebb, apart from new seats, nothing on the football side of things has improved due to these idiots wanting maximum profit from a mediocre investment . Methvens passion displayed at the play off final, and Donald,s bewilderment stood as Charlton picked up the Play off trophy was there gamble crumbling before their eyes, with no plan B
Small fry insurance man , with big ideas that could not be backed up , he has added to the pain of supporting this club, nothing to look forward to even if next season goes ahead, due to two men,s selfish greed !
 
Gobuchul said:
I can't believe that people still think that FPP are still interested in buying any football club.
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Well they have put in £10mill on their terms to (by the looks of it) take ownership on their terms, they are still there, they are the clubs biggest investors so I would say they are still pretty interested, why would people think they wouldnt?
 
pwsafc said:
Cattermole and oviedo will have come to a agreement to pay off there contracts that's just common place

They have invested a months ago I. The scouting setup
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You said we couldn't afford cattermole contract at league one, quite correctly however he is being paid his full contract and you say it is common place.

It does appear to defending them for the sake of it and to hell with sense.
 
Ericsgate said:
As unpalatable as it is, Donald has stopped the rate of decline and stabilised the club. It was heading for absolute certain bankruptcy.

It might seem like rock bottom now but think what it could have been like.

Anything built in the future has to have stable foundations. History will ultimately judge Donald’s era well, much in the way most people did not understand the tough medicine of Thatcherism until the context of 20 years had passed.
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The bitch decimated industry in the North destroyed communities and you call that tough medicine?
 
6inarow said:
I think we have all took for granted the money that the Americans have invested in the club already. After SD's throw away interview when he said he would just pay the money back to them if he gets the right people to buy the club was just knee jerk at the time and unprofessional. As we know they hold the clubs assets on the charge of failure to pay it back but none of us know what terms need to be met. After the Madrox responses yesterday I would say its not just as easy as paying it back if its not spent as it seems they set the rules and guidelines as they insisted on the right conditions to be met (financially) for their money to be invested into the club. If we are to believe what has been touted about this was after spending circa £1 million on feasibility studies and due diligence on Sunderland, the SOL and surrounding area for potential growth (I do believe this), then this is more than an injection of money, sit back and see what happens. Within the answers yesterday regarding whether Madrox was just a company vehicle for Sunderland Football Club the response was this...

“Madrox was indeed created as the vehicle in which to acquire Sunderland AFC. However, it is looking at other investments in the sport and leisure sector to complement this. That was a contributing factor in seeking a wider investment base and this along with the fact that some investors wish the detail of their financial involvement, like many people investing in businesses, to remain private, means that Madrox affairs must remain confidential.”

To me now this shows the bigger picture of FPP involvement and shows that this is concerning redevelopment of the SOL surrounding area, (dont shoot me down but an academy facility in Uruguay as mentioned yesterday) and whatever else that needs to happen to get this club hitting again. What else is Madrox going to buy and spend money on? Some people have mentioned that its now going to be used a vehicle to buy Oxford? Really?

I know we are all here for the Football but take away all the yes/no answers from SD and CM, the team been shite and us still in League 1, We have 3 billionaire investers from America which looks to me that the screw is slowly turning to show they want more for their money and just playing a waiting game, we have a very wealthy South american businessman who (as we are told) is going to play a more visible part going forward (yes we will believe this when it happens), we are appointing local football people on the board, I think we have been the most active club in the league with no football been played for 2 months.

In a nutshell I think we are going to have to play the long game with this as I think it will turn its just when FPP / Sartori who are the major investors here want results on the pitch for their efforts
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This is a very rosy interpretation of everything. I suspect FPP's main barometer of whether they ever convert that debt to shares is where we are on the league ladder. Ultimately though yes, to get them involved 'properly', the long game with SD and co would be necessary.

I think he'll try and sell before that happens unfortunately. If he actually has anyone willing to pay his price.
 
6inarow said:
Well they have put in £10mill on their terms to (by the looks of it) take ownership on their terms, they are still there, they are the clubs biggest investors so I would say they are still pretty interested, why would people think they wouldnt?
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They have provided a loan with them having no possibility of losing out. I think it's a stretch to call them investors.
 
6inarow said:
Well they have put in £10mill on their terms to (by the looks of it) take ownership on their terms, they are still there, they are the clubs biggest investors so I would say they are still pretty interested, why would people think they wouldnt?
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Because what they invested in has a severely diminished chance of making returns on the investment.

One of the most crucial parts of the psychology of investing is knowing when to make a “stop loss” call and not compounding them.
Mirzam said:
The bitch decimated industry in the North destroyed communities and you call that tough medicine?
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Unsustainable industries producing inferior product. The tax payer would be worse off with that status quo.

Britain in 2000 was a far more economically vibrant place than 1980.
 
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this is becoming a toxic relationship
its clear that their both firefighting this latest debacle on top of their other f*ckups
think the big question is a what point can anyobody say enough and withdraw the only thing there care about ... your money
if STID2 taught un anything is that SD is prone to get rushes of blood and a bit panicky/emotional (the grigg transfer episode was very revealing)
if enough people refuse to renew, where does that leave madrox and in particular how much is donald on the hook for without your cash?
 
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Ale taster said:
So should Ellis mind.
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Has Ellis ever gone on record as saying he left us debt free? I've only ever heard this from Donald and Methven. Although if 40m was his asking price (as them 2 told us it was) and Ellis used part of the 40m he received to pay the final SBC 25m then I suppose that was cleared by him too and we were debt free. That the parachutes were used and not replaced and then written off has to be down the current owners and not the last one. Even if Ellis knew they were going to use the 25m parachutes initially surely he would have expected them to pay that back for the good of the club. What a mess. I don't even trust them with my season ticket money and I've had one for over 30 years.
 
Redby-lad said:
Has Ellis ever gone on record as saying he left us debt free? I've only ever heard this from Donald and Methven. Although if 40m was his asking price (as them 2 told us it was) and Ellis used part of the 40m he received to pay the final SBC 25m then I suppose that was cleared by him too and we were debt free. That the parachutes were used and not replaced and then written off has to be down the current owners and not the last one. Even if Ellis knew they were going to use the 25m parachutes initially surely he would have expected them to pay that back for the good of the club. What a mess. I don't even trust them with my season ticket money and I've had one for over 30 years.
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The daftest thing about it from their point of view is if they had left the £25m owed to SBC in the club, said they paid £15m (now £12.7m due to Ndong) and used the parachute payment to repay that debt the club would be in exactly the same position as it is now but nobody would be expecting them to fulfil a promise to put £25m into the club. Like pretty much everything else they've done they've made a total balls up of this.
 
Redby-lad said:
Has Ellis ever gone on record as saying he left us debt free? I've only ever heard this from Donald and Methven. Although if 40m was his asking price (as them 2 told us it was) and Ellis used part of the 40m he received to pay the final SBC 25m then I suppose that was cleared by him too and we were debt free. That the parachutes were used and not replaced and then written off has to be down the current owners and not the last one. Even if Ellis knew they were going to use the 25m parachutes initially surely he would have expected them to pay that back for the good of the club. What a mess. I don't even trust them with my season ticket money and I've had one for over 30 years.
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I'm 99.9% certain he stated this in his final parting interviews.
 
Ericsgate said:
Because what they invested in has a severely diminished chance of making returns on the investment.

One of the most crucial parts of the psychology of investing is knowing when to make a “stop loss” call and not compounding them.

Unsustainable industries producing inferior product. The tax payer would be worse off with that status quo.

Britain in 2000 was a far more economically vibrant place than 1980.
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The long game mate, they invested £10 mill in a league 1 club which hasnt moved, their £10 mill is still £10mill....when the championship (hopefully) comes their £10 mill will be looking a lot better.....then the Premier....the long game
 
mikemanc said:
The daftest thing about it from their point of view is if they had left the £25m owed to SBC in the club, said they paid £15m (now £12.7m due to Ndong) and used the parachute payment to repay that debt the club would be in exactly the same position as it is now but nobody would be expecting them to fulfil a promise to put £25m into the club. Like pretty much everything else they've done they've made a total balls up of this.
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Ellis has done them up like a kipper if he has insisted using 25m of money that would come in when he was no longer owner to pay a debt he ran up when he was but no-one could know about it as he wanted to look like he had left us completely debt free at time of sale. What was in it for the 2 being done up like kippers in that case....unless they foresaw the inflated 40m purchase price as a benchmark to their future (not too distant) selling price and their accountant had told them that the 25m could easily be wrote off as standard business practice. Greedy greedy b's.
 
Redby-lad said:
Has Ellis ever gone on record as saying he left us debt free? I've only ever heard this from Donald and Methven.
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“It’s no secret that I’ve been trying to sell Sunderland,” Short said on Sunday. “But I’ve waited until the right group came along that have the experience, finances and plan to take this great club back where it deserves to be.”

“Overall, my chairmanship has not gone the way I would have wished; the many high points of a decade in the Premier League have been overshadowed by the low points of the last two terrible seasons,” Short said. “I was therefore determined to ensure that I leave Sunderland in the best possible hands and in the best possible state to turn the corner. To achieve this, higher offers from less qualified buyers were rejected, and I’ve paid off all debts owed by the club to leave it financially strong and debt free for the first time since years before I owned it.

Ellis has a lot to answer for too.
 
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