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New buyers put off by £20 million hole in accounts

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Grumpy Old Man said:
No, it's the opposite. There was an amount owed by Madrox to Sunderland for the balance of the parachute payment. This has been written off in the books of Sunderland, meaning that balance no longer exists. Capital injections after the write off crate an amount owed to Madrox by Sunderland. Having the balance that way round could actually be more attractive to a buyer, because it would make anything they put in potentially recoverable. If they were simply paying down an amount already owing to the club, that wouldn't be the case.
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We can have all the factual statements about what SD and Co have done or not not bottom line the majority just want him to sell up and swiftly because enough is enough of the mis management of our club and his conies
 
Ashley In!! said:
Another excellent, factual piece from Chris.

That bit about trying to bill RAWA for the promised information is incredible.
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I feel sick having read this. One man’s ineptitude and greed is in danger of destroying an institution that has been the heartbeat of the community for nearly 150 years. It feels like perfect storm is gathering.

SD has to drop any ideas of a profiting from a sale, he had one shot, he failed. The world is entering the worst economic depression in 300 years, how on earth is he going to be able to keep us afloat?

Such worrying times.
 
Father Jack Hackett said:
Why did Charlie Methven tell all and sundry they did?
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Because there's a crossed wire here mate.

They clearly agreed some kind of broad price for the club, but never made an offer of that. Those two positions can co-exist. I think it's just semantics and I think the core thing being communicated here is that they didn't make the bid, and found a no risk way to secure first right of refusal should we get promoted in the next few years.

But I do sincerely doubt the problem was Donald's price, because in effect, they've agreed to it by doing the loan deal.
 
Gobuchul said:
It's probably going to look VERY different.

Clubs are going under. They are a flawed business model, even when things are normal. The % of turnover they spend on wages is crazy and the players are facing some very significant cuts.

Do you think that these players and clubs should be bank rolled by the normal taxpayer? Or should the money be used to stimulate more useful things?

The UK has far too many full time professional clubs, no other country has as many. A lot are going bust in the next few months. There will be a deal with the league, regarding point deductions etc but when they start up again they will be completely different. I can see a lot of L1 & L2, going semi pro. The model is unsupportable.
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I agree. I’ve nivver said the govt will or should bail football clubs out. Dunno where you’ve got that from. The English football industry’s been living on borrowed time for a long time.
 
Sons of The Wear said:
Let’s be factual. The takeover was always takeover and not about a small investment as has happened. It was a whisker away from happening and only the owners and FPP know why it didn’t materialise.
Could it be that FPP thought it highly unprofessional that the owners were telling certain factions what was happening before everything was signed, sealed and delivered?

Whatever the reason for it failing to materialise, it was disingenuous that in a subsequent meeting with RAWA that Charlie Methven suggested that there was a problem attracting investors to SAFC because “there is a specific problem with Sunderland fans and they are known in the game as an issue and that isn’t attractive to potential investors” as per the released minutes of the RAWA along with the charming analogy that “the club need to be like the well presented girl going to the ball-not the drunk girl jumping about with mascara running down her face”.

Trying to blame the fan base for the failure of the takeover is not on, just as it’s ridiculous to say that the joint fan groups statement in December (at the lowest ebb in the history of SAFC and which most fans agreed with at the time) has stopped any potential investor coming in to buy SAFC. The owners need to take some responsibility for the takeover failing, and should also stop asking and actively encouraging any individual supporter to come onto this message board to act as their apologist as Is clearly happening as the lad is a Sunderland fan of long standing and should not be used in this manner. This sort of manipulation is so transparent.
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Bang on this mind!
Ashley In!! said:
Another excellent, factual piece from Chris.

That bit about trying to bill RAWA for the promised information is incredible.
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Agreed excellent yet very alarming piece
 
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Helmerroids said:
I feel sick having read this. One man’s ineptitude and greed is in danger of destroying an institution that has been the heartbeat of the community for nearly 150 years. It feels like perfect storm is gathering.

SD has to drop any ideas of a profiting from a sale, he had one shot, he failed. The world is entering the worst economic depression in 300 years, how on earth is he going to be able to keep us afloat?

Such worrying times.
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And clubs are asking customers (Supporters) to pay for products (Season tickets), that could not be useable for nearly half the season!
 
Sons of The Wear said:
Let’s be factual. The takeover was always takeover and not about a small investment as has happened. It was a whisker away from happening and only the owners and FPP know why it didn’t materialise.
Could it be that FPP thought it highly unprofessional that the owners were telling certain factions what was happening before everything was signed, sealed and delivered?

Whatever the reason for it failing to materialise, it was disingenuous that in a subsequent meeting with RAWA that Charlie Methven suggested that there was a problem attracting investors to SAFC because “there is a specific problem with Sunderland fans and they are known in the game as an issue and that isn’t attractive to potential investors” as per the released minutes of the RAWA along with the charming analogy that “the club need to be like the well presented girl going to the ball-not the drunk girl jumping about with mascara running down her face”.

Trying to blame the fan base for the failure of the takeover is not on, just as it’s ridiculous to say that the joint fan groups statement in December (at the lowest ebb in the history of SAFC and which most fans agreed with at the time) has stopped any potential investor coming in to buy SAFC. The owners need to take some responsibility for the takeover failing, and should also stop asking and actively encouraging any individual supporter to come onto this message board to act as their apologist as Is clearly happening as the lad is a Sunderland fan of long standing and should not be used in this manner. This sort of manipulation is so transparent.
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Gaslighting, plain and simple
 
KittenMittens said:
Because there's a crossed wire here mate.

They clearly agreed some kind of broad price for the club, but never made an offer of that. Those two positions can co-exist. I think it's just semantics and I think the core thing being communicated here is that they didn't make the bid, and found a no risk way to secure first right of refusal should we get promoted in the next few years.

But I do sincerely doubt the problem was Donald's price, because in effect, they've agreed to it by doing the loan deal.
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Someone has already said they were told by the buyers in person they were buying the club at a match
 
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