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New buyers put off by £20 million hole in accounts

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MADBOB THE MAKEM said:
Good point, now let's give love a chance and have peace and understanding for all SAFC fans.
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No way does he deserve another chance, you can’t blame Parkinson for the academy fiasco, but you can blame Donald for appointing the dinosaur. There you go again intimating that the f***ing liar isn’t “fully committed to selling” or promising that “if he’s not wanted then he will leave”. You can’t believe a word the bullshitting bastard says, irrespective of how his dinner parties go. Like I say, some people are too soppy and fall for his “woe is me”, “people have let me down”, “I’ve made mistakes” crocodile tears crap, others can see he has totally destroyed us and can’t forgive him for these last 2 seasons
 
If a new buyer is aware of a £20m black hole,add another £10m,then a purchase price of £30m doesn’t seem that bad to me,or am I getting it wrong.
 
Has there been any period since the Reid years where this club has been on a sound footing and not held together by straw...? FFS it's just so annoying.
 
Tasman said:
Well in fairness Don has stabilized us off-field, now Phil needs to onfield
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He’s had two seasons to put his stamp on it and we are at the lowest we’ve ever been. If you mean stabilise by becoming just another average table in the third division then yes he has achieved that milestone
 
I believe we would rue the day that these people ever came in contact with the club and unfortunately that has been proved correct. I can’t see him letting go as long as the holy grail (in his mind) exists.

Hopefully the FPP angle of slowly strangling him to financial death is the way out of this. However, this means a great deal of suffering for Sunderland fans as he sells everything and anything to extend that period as much as possible.

I don’t even care what League we are in, I just want us to have a coherent plan for getting out of it ffs.
 
Guinness Guzzler said:
It says no due diligence has been done though, and that it's in its infancy. Even if FPP did a form of due diligence again I can't imagine it being described as being in its infancy if it was them. And it mentions people who have previously been involved in running football clubs, again they could have someone else with them but FPP themselves certainly haven't ran a club before. I think it's a stretch to hope that they're one of these two, although that doesn't mean they won't get involved later I suppose
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That's a good post mate. Jigsaw pieces in my mind starting to fall into place
 
Hull_Mackem said:
I'd say the problem is the club being valued at £35 million when it was bought for £5 million and since then income has fallen and valuable assets sold. So how it it now worth massively more is something only Donald knows.
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i agree the £35m price seems exteme..though the clubs equity was valued in the deal at £15m when SD bought it....so someone buying the equity would have that as a reference point. I agree, I dont see how they get from £15m to £35m..i mean the debt is vastly reduced, as are the long run liabilities, and they seem to have net cash on the balance sheet and to have been trading at operatioal break even, none pf which thigs were true before they got here and those are all positives that should make the equity worth much more..the loss of para money income and in particular the vast capital requirements the club will have in years to come, potential hundreds of millions..and the fact that even if all the cash required to get two promotios woks and yiu get to the premier league..safc still doesnt sell out most home games in the premier league and doesnt make a profit in the pemier league, so where would the return come from?
 
Noticed yesterday Tony Davidson had a slight exchange with a fan and when they had said something about him being at the club and letting Donald and Charlie ruin the club he said he wouldn’t touch that discussion.
 
Mackem2017 said:
Noticed yesterday Tony Davidson had a slight exchange with a fan and when they had said something about him being at the club and letting Donald and Charlie ruin the club he said he wouldn’t touch that discussion.
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I'd be more trusting of Tony than Toot & Ploot and I agree, he shouldn't go anywhere near the ruinous reign of the two chancer's
 
Mackem2017 said:
Noticed yesterday Tony Davidson had a slight exchange with a fan and when they had said something about him being at the club and letting Donald and Charlie ruin the club he said he wouldn’t touch that discussion.
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Probably doesn’t want to be associated with what has occurred. The discussion when he left was how odd it was with the timing and the fact there didn’t appear to be a reason for it.
 
molthemackem said:
I'd be more trusting of Tony than Toot & Ploot and I agree, he shouldn't go anywhere near the ruinous reign of the two chancer's
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TD has worked with methven on three or four seperate occasions ow..he knows him well indeed...so presumably knew exactly what he was getting into..im more dissapointed in methven than donald..donald's peformance has been about as bad as i expected...but mtethve, with his vast football experience, should have done better. Donald at least brought in eil Fox to fix the financial side, and Donald has acknowledged his failings..Methven's "this is what good looks like" and now his striding around like a sage on football contrasts ver badly indeed with Donald.
FLATHEED said:
Probably doesn’t want to be associated with what has occurred. The discussion when he left was how odd it was with the timing and the fact there didn’t appear to be a reason for it.
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the reason for it was made perfectly clear at the time. so you have just lied.
 
Pepe said:
I believe we would rue the day that these people ever came in contact with the club and unfortunately that has been proved correct. I can’t see him letting go as long as the holy grail (in his mind) exists.

Hopefully the FPP angle of slowly strangling him to financial death is the way out of this. However, this means a great deal of suffering for Sunderland fans as he sells everything and anything to extend that period as much as possible.

I don’t even care what League we are in, I just want us to have a coherent plan for getting out of it ffs.
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FPP trinv to strangle them to debt for £9m? they can find £9m in a few hours between the three of them man!
i suspect FPP angle is to buy them out of we go up to champo..

the idea Donald doesnt have £9m caSH, NEVE MIND SARTORI, IS JUST LUDUCROUS..
 
kildaremackem said:
i agree the £35m price seems exteme..though the clubs equity was valued in the deal at £15m when SD bought it....so someone buying the equity would have that as a reference point. I agree, I dont see how they get from £15m to £35m..i mean the debt is vastly reduced, as are the long run liabilities, and they seem to have net cash on the balance sheet and to have been trading at operatioal break even, none pf which thigs were true before they got here and those are all positives that should make the equity worth much more..the loss of para money income and in particular the vast capital requirements the club will have in years to come, potential hundreds of millions..and the fact that even if all the cash required to get two promotios woks and yiu get to the premier league..safc still doesnt sell out most home games in the premier league and doesnt make a profit in the pemier league, so where would the return come from?
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If we ever get back to the premier lg , it certainly wouldn’t happen with these fools in charge, the money you get through the turnstiles is irrelevant so your quote at stadium not being full is just another in a long line of CM like dig at fans.
We have lost money when in the premier before no doubt, because we have been run with no structure in place worthy of the word anyway since certainly Quinnny left & maybe only Sir Bob did finances well to be honest.
 
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