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Juan Sartori

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Secret Visage said:
Link?
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There isn't one. If there's a share issue, then it has to be offered to all shareholders, and Donald, etc have the choice of paying up or having their percentages diluted. But there is nothing in company law to prevent an individual director making a loan; the only impact is it's not then allowable in terms of the L1 salary cap of 60% if income, whereas new share capital would.
 
Roker Mackem said:
He doesnt give a fuck about us does he?
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All I can add is that I was sitting just behind the board in the Prem concourse for the Bolton game, and Satori was there,, and KLD and his brother couldn’t have been happier to see him.

The 2 of them greeted him and cracked on with him like you would a best mate you hadn’t seen for ages.
 
Grumpy Old Man said:
July.
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Which was after Short had departed. Madrox stated they’d ‘given Ellis £40m’ for the club. They hadn’t as we all know.

If a sale price in the region of £40m was agreed between Short and Madrox then that is what was due to him. Madrox financed it using the parachute to pay the agreed price and said it would be paid back into to the club in due course.

So it is very misleading to say that Short took the clubs income as the poster put it.
 
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Smiter said:
All I can add is that I was sitting just behind the board in the Prem concourse for the Bolton game, and Satori was there,, and KLD and his brother couldn’t have been happier to see him.

The 2 of them greeted him and cracked on with him like you would a best mate you hadn’t seen for ages.
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Im sure they all love each other. Means nowt with regards to the football club really
 
Sea to Shining Sea said:
Which was after Short had departed. Madrox stated they’d ‘given Ellis £40m’ for the club. They hadn’t as we all know.

If a sale price in the region of £40m was agreed between Short and Madrox then that is what was due to him. Madrox financed it using the parachute to pay the agreed price and said it would be paid back into to the club in due course.

So it is very misleading to say that Short took the clubs income as the poster put it.
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"The thing which is most easy to put that security against the parachute payments. So, it's security for Ellis to make sure he does get paid out his £40 million, but it is not like he is going to be turning up here on the day the premier league parachute payment arrives with a big sack over his back and waiting to take it back to Florida."

"The reality of it is Sunderland doesn't owe any money. Ellis has wiped the debt off, so the issue is mine. Now if I don't pay him, he has a call on those payments."

"He wanted a charge over the parachute payments as well because it was physical cash well alright if you have a charge over the parachute payments if I didn't pay you, you don't need a charge over the academy and in the end I just went ok fine, it doesnt matter cos you're gonna get paid so just have the charge, and I think the agreement is that as that money then goes down, the charge reduces and then it goes. So, as I pay Ellis which will all be done by within 2 years, he then removes those charges. The position should then be the club has no debt, has no charges, we don't want an overdraft and we then need to see whether or not the club can function without me feeding it every year"
 
Smiter said:
All I can add is that I was sitting just behind the board in the Prem concourse for the Bolton game, and Satori was there,, and KLD and his brother couldn’t have been happier to see him.

The 2 of them greeted him and cracked on with him like you would a best mate you hadn’t seen for ages.
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Was that the last match any of them were at by the way?
 
Smiter said:
All I can add is that I was sitting just behind the board in the Prem concourse for the Bolton game, and Satori was there,, and KLD and his brother couldn’t have been happier to see him.

The 2 of them greeted him and cracked on with him like you would a best mate you hadn’t seen for ages.
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How were you sitting up there?
 
Smiter said:
Players friends and family go up there now mate, I was there through the womens team, it’s cracking like loads of room in concourse bar.


Absolutely no idea I’m afraid I have a season ticket in east stand and only go up there occasionally and haven’t been up since that one.
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Been a while since I’ve seen a KLD Instagram post of him at the match or plugging a fixture. Don’t blame him with the fare offered up recently!
 
gipetto said:
Unsure how he's a waste of space and I really don't see why anyone would abuse the fella. He seemed to really buy into the club and area. None of us know what his input has been in the background nor what plans he has. Who's to say we won't end up forming a link with Monaco?
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Loved on here a few years ago.
 
Sea to Shining Sea said:
Which was after Short had departed. Madrox stated they’d ‘given Ellis £40m’ for the club. They hadn’t as we all know.

If a sale price in the region of £40m was agreed between Short and Madrox then that is what was due to him. Madrox financed it using the parachute to pay the agreed price and said it would be paid back into to the club in due course.

So it is very misleading to say that Short took the clubs income as the poster put it.
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That was Donald being "economical with the actualité", as the late Alan Clark put it. The truth came out later. It's almost as if Donald reckoned the club had no financially-literate fans. The actual deal was that Short got £15m from the shares plus repayment of the loan of £25m he'd moved into Drumaville. Because the deal was structured so badly, the cash had to move, in accounting terms, via Madrox. However, the substance, rather than legal form, of the deal, was always that the £25m was going to be paid by the club. Short didn't get the money, by the way. It ended up with SBC, as he had taken out a loan from them (for £25m) secured on various of his assets, including the Hilton, which is how I discovered the loan. That was finally paid down in April 2019. So the amount Short actually got was £12.7m, as the price was negotiated down after Ndong's move to Watford fell through.

You may not like this version of events, for whatever reason, but it's the one that is supported by the documentary evidence.
 
Grumpy Old Man said:
That was Donald being "economical with the actualité", as the late Alan Clark put it. The truth came out later. It's almost as if Donald reckoned the club had no financially-literate fans. The actual deal was that Short got £15m from the shares plus repayment of the loan of £25m he'd moved into Drumaville. Because the deal was structured so badly, the cash had to move, in accounting terms, via Madrox. However, the substance, rather than legal form, of the deal, was always that the £25m was going to be paid by the club. Short didn't get the money, by the way. It ended up with SBC, as he had taken out a loan from them (for £25m) secured on various of his assets, including the Hilton, which is how I discovered the loan. That was finally paid down in April 2019. So the amount Short actually got was £12.7m, as the price was negotiated down after Ndong's move to Watford fell through.

You may not like this version of events, for whatever reason, but it's the one that is supported by the documentary evidence.
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All that confirms is what my initial post on the subject said. It’s very misleading to say that Short ‘took the clubs income’.

None of what you’ve said there particularly contradicts what I said either so it’s not a case of liking or not liking that explanation.

Donald claimed he paid £40m. We know he didn’t. Short didn’t ‘take’ the clubs income as was suggested by kildaremackem. It was transferred.
 
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Sea to Shining Sea said:
All that confirms is what my initial post on the subject said. It’s very misleading to say that Short ‘took the clubs income’.

None of what you’ve said there particularly contradicts what I said either so it’s not a case of liking or not liking that explanation.

Donald claimed he paid £40m. We know he didn’t. Short didn’t ‘take’ the clubs income as was suggested by kildaremackem. It was transferred.
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On this we can agree, SBC "took the club's income", which is what would have happened if the sensible thing had been done, and the last £25m of debt left in the club.
 
Grumpy Old Man said:
That was Donald being "economical with the actualité", as the late Alan Clark put it. The truth came out later. It's almost as if Donald reckoned the club had no financially-literate fans. The actual deal was that Short got £15m from the shares plus repayment of the loan of £25m he'd moved into Drumaville. Because the deal was structured so badly, the cash had to move, in accounting terms, via Madrox. However, the substance, rather than legal form, of the deal, was always that the £25m was going to be paid by the club. Short didn't get the money, by the way. It ended up with SBC, as he had taken out a loan from them (for £25m) secured on various of his assets, including the Hilton, which is how I discovered the loan. That was finally paid down in April 2019. So the amount Short actually got was £12.7m, as the price was negotiated down after Ndong's move to Watford fell through.

You may not like this version of events, for whatever reason, but it's the one that is supported by the documentary evidence.
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The parachute paymeny only had to "move via madrox" when they decided they needed to use to club's own money / parachute payment.

If Donald had used his own money like he said he was going to he'd have put that into Madrox who would've paid off the debt. Just like he did with the part of the purchase price he did pay himself. The club's money would've remained untouched.
 
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