• The forums will be unavailable for a few hours on Saturday 6th June, when they do return they will initially be in a degraded state with some features missing, but normal posting/reading will be possible. The main website will not be affected by these updates.
    New user registrations are currently disabled.
    Some other features of the forum are also currently disabled.

Donald not responding to takeover offers?

Status
Not open for further replies.
Hep said:
Our form wasn't good but we need to face up to the reality that the club has to break even financially, which has meant a lot of hard decisions. There isn't a queue of billionaires waiting to lose £20+M a year on us.

You must be logged on to see external links
Click to expand...
Why do they have to lose 20m a year?
Grumpy Old Man said:
The club didn't borrow that money. Madrox borrowed it, and used it to buy £9m of new shares in Sunderland. You can fairly ask why Madrox borrowed the money. It actually represents part of the parachute being repaid to the club.
Click to expand...
Semantics you know what I meant
 

Hep said:
Our form wasn't good but we need to face up to the reality that the club has to break even financially, which has meant a lot of hard decisions. There isn't a queue of billionaires waiting to lose £20+M a year on us.

You must be logged on to see external links
Click to expand...

That's from 2018, I was talking about your claim they'd turned it around in that respect.
I don't know whether they have or haven't
 
Grumpy Old Man said:
The club didn't borrow that money. Madrox borrowed it, and used it to buy £9m of new shares in Sunderland. You can fairly ask why Madrox borrowed the money. It actually represents part of the parachute being repaid to the club.
Click to expand...
Madrox did not borrow the money, they loaned the money to SAFC. It has no relation to the parachute payments.
 
Hep said:
What has got worse, we've gone from a club making a loss to financial stability. The fans anger seems to be just because we missed out on promotion and a dodgy article from the daily mail.

We are the exact issues and what is the 'something' that has to be done?
Click to expand...

no debt but they needed a £9 million loan to run the club (thats without the debate on how they “bought” it in the first place)

2 seasons with large income from season tickets & parachute money, yet still managed to make us look worse on the pitch and failed to get us promoted (forget covid, imo we looked nothing like going up)

Unprofessional and look a shambles from the outside, see season ticket fuck ups as an example

totally ruined the academy in 2 years. Sold anyone and everyone possible

put mates in key roles at club, which obviously didn’t work as its all got worse

communication shit, owners saying different things at different times and contradicting each other. Add to that blaming / criticising fans on more than 1 occasion

nobody can say they have been successful in any way in past 2 years
 
Father Jack Hackett said:
But 'they' are Madrox, are they not?
Click to expand...

But the club has not needed a loan. Until we see the 19/20 accounts some time next year, we won't know the extent to which this was needed to cover ongoing losses, or really was indirect investment from FPP. Separation of legal personalities where the same individuals are involved is conceptually hard, but it does really matter in terms of legal identities, and what it means in corporate governance terms.
 
Gaz said:
no debt but they needed a £9 million loan to run the club (thats without the debate on how they “bought” it in the first place)

2 seasons with large income from season tickets & parachute money, yet still managed to make us look worse on the pitch and failed to get us promoted (forget covid, imo we looked nothing like going up)

Unprofessional and look a shambles from the outside, see season ticket fuck ups as an example

totally ruined the academy in 2 years. Sold anyone and everyone possible

put mates in key roles at club, which obviously didn’t work as its all got worse

communication shit, owners saying different things at different times and contradicting each other. Add to that blaming / criticising fans on more than 1 occasion

nobody can say they have been successful in any way in past 2 years
Click to expand...
They've made us financially stable, which is priority number one.

I agree about the fuck ups at the club, but that's because a lot of the staff are amateur at best but if anyone dares to call them out, it's shouted down. Methven had their number and was roundly abused for not accepting the mediocrity.

We can't afford to keep the academy at the same levels as the previous year, that's not great, but it's reality.

We need to realise our income is a fraction of what it was and we need to cut our cloth to match.
 
Des's Tiny Child said:
Every man has his price or so the saying goes. And I am sure Don has his. If the club gets off to a strong start next season the price he wants will be more achievable. That may be delusional but that could also be what he's hanging on.

Plus there's a raft of clubs in L1 who couldn't afford to test their players and play behind closed doors. Those two financial hits are still very real propositions for next season and neither has been resolved.

We could have a ton of L1 clubs unable to play next season's matches. IF Sunderland aren't one if them Don might see himself in the driving seat in talks with potential buyers.

Problem with that situation though is it might encourage him even more not to sell!
Click to expand...

You must be logged on to see media items
 
Grumpy Old Man said:
But the club has not needed a loan. Until we see the 19/20 accounts some time next year, we won't know the extent to which this was needed to cover ongoing losses, or really was indirect investment from FPP. Separation of legal personalities where the same individuals are involved is conceptually hard, but it does really matter in terms of legal identities, and what it means in corporate governance terms.
Click to expand...

Who has needed the £9m then?
 
Status
Not open for further replies.
Back
Top