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New buyers put off by £20 million hole in accounts

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Don't know if the below has been posted but its a mixed bag of answers. Everything in limbo which is no surprise.

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VoxPop said:
Did FPP invest in Derby County? I’ve lost track of that.
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Dell provided a loan iirc
Football Dinosaur said:
Don't know if the below has been posted but its a mixed bag of answers. Everything in limbo which is no surprise.

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The headline should read "sorry but I have as much idea as you lot"
 
Newspapers just print what they want time after time, bad or no research seems to be the norm.According to the echo Sartori has a 20% stake in the club, I thought it was less than that ?
 
Football Dinosaur said:
Don't know if the below has been posted but its a mixed bag of answers. Everything in limbo which is no surprise.

You must be logged on to see external links
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Reading that has just made wonder about what actually is going on with Madrox and FPP especially now Madros are saying they are looking to invest on other sporting areas.

Donald, speaking on the radio soon after it came out the clubs assets were used as security for the FPP loan, talked in detail about any new owners buying Madrox and acquiring the club that way as it wouldn't make sense buying Sunderland.

Donald also announced at the time FPP have invested in him (Madrox) and not the club.

FPP paid the loan to Madrox, not the club.

FPP, according to the weekends statement, would only give Madrox the money if Madrox wrote off the debt from Madrox to the club which doesn't help the club but woukd certainly make Madrox a more attractive proposition without a 20 million debt over their head.

The statement at the weekend now suggests that any buyer won't be buying Madrox, but would be buying the club (opposite to the radio interview) because Madrox are looking to invest elsewhere.

It was also rumoured at the time, and Donald confirmed it, that FPP were also interested in investing in other things, such as the area or possibly the things Madrox now wants to invest in away from the club.

Has Madrox basically just found a new investor so they can increase their portfolio in other things -away from the club- instead?
 
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samaistonsrightfoot said:
The statement at the weekend now suggests that any buyer won't be buying Madrox, but would be buying the club (opposite to the radio interview) because Madrox are looking to invest elsewhere.
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This is the main point that not only worries me but proves he's lying. He categorically said on that radio interview back in OCt/Nov that anybody who wanted to buy SAFC would have to buy Madrox, yet now he's saying Madrox are venturing into other investments.
 
No. 1 is Gary Rowell said:
This is the main point that not only worries me but proves he's lying. He categorically said on that radio interview back in OCt/Nov that anybody who wanted to buy SAFC would have to buy Madrox, yet now he's saying Madrox are venturing into other investments.
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i'm inclined to believe he only said that as a convenient excuse to keep the books shut

mind you it would be hilarious if they used our 20 million quid to buy something else, wouldn't it?
 
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No. 1 is Gary Rowell said:
This is the main point that not only worries me but proves he's lying. He categorically said on that radio interview back in OCt/Nov that anybody who wanted to buy SAFC would have to buy Madrox, yet now he's saying Madrox are venturing into other investments.
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Are you talking about these comments on the radio, where he says categorically that anyone wanting to buy the club could just buy the club but are more likely to buy Madrox?

New buyers put off by £20 million hole in accounts

If so, it seems that you are the one that has been proven to be lying.
 
The owners have communicated naively from the beginning. Business is fluid and things change. Fans have been left scratching their heads and commenting as a result. Not sure it’s lies. Just bad communications which has set themselves up. It is ironic considering Methven is supposed to do it for a living. I certainly wouldn’t be hiring Dragon PR.

Hope the FPP smoke is something.
 
samaistonsrightfoot said:
Reading that has just made wonder about what actually is going on with Madrox and FPP especially now Madros are saying they are looking to invest on other sporting areas.

Donald, speaking on the radio soon after it came out the clubs assets were used as security for the FPP loan, talked in detail about any new owners buying Madrox and acquiring the club that way as it wouldn't make sense buying Sunderland.

Donald also announced at the time FPP have invested in him (Madrox) and not the club.

FPP paid the loan to Madrox, not the club.

FPP, according to the weekends statement, would only give Madrox the money if Madrox wrote off the debt from Madrox to the club which doesn't help the club but woukd certainly make Madrox a more attractive proposition without a 20 million debt over their head.

The statement at the weekend now suggests that any buyer won't be buying Madrox, but would be buying the club (opposite to the radio interview) because Madrox are looking to invest elsewhere.

It was also rumoured at the time, and Donald confirmed it, that FPP were also interested in investing in other things, such as the area or possibly the things Madrox now wants to invest in away from the club.

Has Madrox basically just found a new investor so they can increase their portfolio in other things -away from the club- instead?
Click to expand...

We may never know but hopefully things become clearer over the comming months and this limbo SAFC is in is resolved one way or the other. Just as much as recent external events have effected us so to have the self imposed changes crippled the club imo. Something needs to change and fast.
 
elder said:
i'm inclined to believe he only said that as a convenient excuse to keep the books shut

mind you it would be hilarious if they used our 20 million quid to buy something else, wouldn't it?
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Our 20m has certainly been used by Donald and Methven to raise the profile of Madrox and put them on the map so to speak. Imagine if they had went to a bank for that money like normal businesses looking to grow would. The process would be borrow money, use money, pay back loan including interest. Except here they borrowed money, used the money, didn't pay any interest then wrote the money off.
 
elder said:
i'm inclined to believe he only said that as a convenient excuse to keep the books shut

mind you it would be hilarious if they used our 20 million quid to buy something else, wouldn't it?
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Am I missing something here? I thought that money had gone to Ellis Short / SBC to pay off the remainder of the debt / price?
 
What’s happened to the transfer fees that we’ve received in all of this?

I mean we brought around 20 million in transfer fees for the likes of McNair, Asoro, Khazri, Lens & Borini but imagine that also went to exceptional operating costs?
 
admwil said:
The owners have communicated naively from the beginning. Business is fluid and things change. Fans have been left scratching their heads and commenting as a result. Not sure it’s lies. Just bad communications which has set themselves up. It is ironic considering Methven is supposed to do it for a living. I certainly wouldn’t be hiring Dragon PR.

Hope the FPP smoke is something.
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Sorry mate, it's been lies. That's why their stories change, why they have to make statements defending themselves, why they keep contradicting themselves. All the nice and caring stuff was just PR to win us over.
Johnsafc said:
What’s happened to the transfer fees that we’ve received in all of this?

I mean we brought around 20 million in transfer fees for the likes of McNair, Asoro, Khazri, Lens & Borini but imagine that also went to exceptional operating costs?
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I was only thinking about this yesterday. Are outstanding transfer fees exceptional operating cost? I'd like to know what these exceptional operating costs are.

No doubt they are private and confidential.:mad:
 
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admwil said:
The owners have communicated naively from the beginning. Business is fluid and things change. Fans have been left scratching their heads and commenting as a result. Not sure it’s lies. Just bad communications which has set themselves up. It is ironic considering Methven is supposed to do it for a living. I certainly wouldn’t be hiring Dragon PR.

Hope the FPP smoke is something.
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its not just bad communication. this is what they want you to beleive. you have answered your own question - regarding what methven actaully does for a living. everything they have came out with, at the time of speaking, has been carefully planned.

the problem with liars is that they need to have very very good memories. and as they dig themselves in deeper and deeper trying to cover their initial lies, they lie and lie even more trying to cover their tracks. problem with these lot is that a) they took us for mugs, which clearly the likes of Wise Men Say and The Athletic aren't, and b) they are actually on record as saying these things (podcasts, talk ins, statements etc..) so they can't even try to deny or twist what they have said.

it will hopefully all come out and these scum bags can get their comeuppance.

dont let them fool you any longer
 
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