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New buyers put off by £20 million hole in accounts

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Redby-lad said:
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.
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Yes. This is definitely something I think goes under the radar. Not the time or inclination to go over it but Madrox have benefited from using that money.

I think quite strongly that this deal was pushed through by a combo of Short and Donald with no thought for the club. I worry that again we will excuse dubious practices in order to get through some kind of takeover, and be left ultimately wondering where all of our money went in the long run, and whether there were alternatives.
 

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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They were more than absorbed by amounts still owing on transfer in, the Alvarez case, and the fact that, in May 2018 when these deals were going through, the clubs costs far exceeded its income.
 
Grumpy Old Man said:
They were more than absorbed by amounts still owing on transfer in, the Alvarez case, and the fact that, in May 2018 when these deals were going through, the clubs costs far exceeded its income.
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Ah yes, wonder if we’re still paying for Ricky
 
Tasman said:
The biggest disappointment is not their want to make quick cash but lack of strategy with young players we the fans can stomach a little pain in the majority of the team were young and learning at least we then had a solid base to build on....
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I think that is a bit of a myth personally. The majority of the fan base wouldn't put up with losing every week and watching a team of youngsters get battered.
 
South Banker Wolf said:
But doesn't that realistically mean that they have sold you for 9 mil to FPP. I still can't get my head round where the parachute money went after wages and running costs. Rodwell was off the books but I know Cattermole was on 30 k maybe. You have to be a mathematician to work all this out. No wonder CM has fucked off back to Eton!!
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He wasn't. He'd had two relegation wage cuts. Probably of about 40% each.
 
tunstallhill said:
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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This is the best post I have read on here, This is the Truth imo if they had said in the beginning we are here to try and sort the mess out, then sell within a couple of years to big investors then they might just have got away with this, but no start of telling lies then try cover their lies with more and more lies 🤦🏻‍♂️
 
tunstallhill said:
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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Spot-on. Not only are they completely f***ing the football club's medium-term future (at the very least), they are treating us as imbeciles "unbelievably uneducated in business" etc.
Wankers.
KittenMittens said:
Yes. This is definitely something I think goes under the radar. Not the time or inclination to go over it but Madrox have benefited from using that money.

I think quite strongly that this deal was pushed through by a combo of Short and Donald with no thought for the club. I worry that again we will excuse dubious practices in order to get through some kind of takeover, and be left ultimately wondering where all of our money went in the long run, and whether there were alternatives.
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They've already completely ruined our future for the next few years as any buyer will have to have absolutely spot-on recruitment because they've decimated the best youth team in the country who would have been eligible for pro contracts now. Its unforgivable and shows utter disregard for the football club after they've scuttled off.
 
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Grumpy Old Man said:
I'm not sure about that. I thought his wages were cut when we dropped from the PL, but not when we dropped from the championship.
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That's the outcome I remember from this, but to be fair it was a discussion on here so second or third hand info.

Either way before whatever cuts he had following relegation?
He was on a fair but more than £20 or £30K.
 
Grumpy Old Man said:
The Alvarez case was, but the other ins and outs were known. The question asked was where the incoming transfer money went.
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I’m not having a go at you in the slightest, I’m making an observation that they obviously didn’t do enough DD or at least didn’t do it well, if they didn’t know Alvarez was suing SAFC at the time of taking over, I don’t think that’s unfair to say.
 
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