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Confirmed KLD only owns 41%

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Zak's Dad said:
The problem is that what KLD has done is in essence no different to what the Chuckle brothers did - gamble.

They came in thinking they could get us cheaply and get us promoted in 2 seasons without a real plan.
It was a gamble and it - and they - failed.

KLD has come in thinking he can run the show and get us promoted without anyone realising about the smoke and mirrors until we'd been promoted.
That was a gamble and it - and he - failed.

The problem is that they've all been gambling with our club and have deliberately tried to mislead fans to achieve it.

I'm not sure where we go from here?
It's f***ing toxic.

And on a personal level I'm absolutely furious at the lot of them thinking that we didn't deserve the truth and we were disrespected to the point of being deliberately mislead - again.

Fuck them.
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Great post.
 
Bg86 said:
Just out of interest mate, if you were to summarise how you feel about the ownership and the club, what would you say?
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well, i think its in the best interests of the club that donald and methven sell up and leave. if they must remain sharehodlers for whatever reason, its best they arent involved in running the club, simply because they arent very good at running it.
KLD is a boy in a mans world...owners of clubs down here..they are street fighters...every season they have to hit certain cost and revenue numbers, have to sell players for money etc to survive...KLD is richer than them, but in league one, its pub brawl rules, not queensbury, and he has never had to fight for anything. He went to sports college, and is spending daddies money..they went to the school of hard knockec and are soending their own hard earned. They will eat him alive. He may have thought thats why he needed the lieks of methven and donald around, but the reality is, they arent very good street fighters eihter, perhaps best exemplified by Donald's "negotaotion" on camera of the will grigg deal.
 
daveybigpotatoes said:
Different point but I can’t see how Donald has less than 41% either. Unless the other two put in cash at the same time as KLD (unlikely) or the former owners sold down different percentages of their original holding each (unlikely too).
Never seen a shareholders agreement that gives effective control even when the other parties are so few in number/ can work together very easily.
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The assumption everyone is making is that JS, SD, and CM are still collaborating. Madrox is no longer involved at all (the registered office is now in Oxfordshire); they hold shares in Mercator as individuals. My own feeling is that Donald is the isolated one, with JS and CM now backing KLD.
 
RedFlag1308 said:
I thought he would have 51% at very worst. The lunatics are still controlling the asylum, no wonder we haven’t seen any money be invested
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I thought 51% would have given him control but some business shareholding legal logic has left the share split as it has for some reason. Certain "shareholder deals" will have been arranged in quiet. Transparency? Anything but....
 
Roger said:
I thought his formula was that Eton trumped anything else?
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Also it depends how the voting shares are
distributed. If Sartori doesn't have any, which would
explain his general lack of involvement, then KLD
has his controlling interest. It would also explain
the distribution numbers. 100 minus twenty leaves
eighty, forty one percent is the magic number.

From over the road
 
Grumpy Old Man said:
Clause in the shareholder agreement giving full control of board appointments and management of day-to-day and football matters.
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You were telling me on the original RAWA minutes thread he can't have a governance control without being a majority shareholder.

"He's put out a statement saying he has governance control. That requires a majority shareholding by that shareholder alone."

You were also having pops at people who were suggesting he had less than 50% saying they are calling him a liar.
 
molthemackem said:
Piece from the Athletic

It means Sunderland’s pre-existing ownership group owns a greater combined shareholding than Louis-Dreyfus but the club are eager to stress that it is the current chairman that is still the key decision-maker ahead of his first anniversary at the Stadium of Light this week.

After you have read that fom the club, the key decision maker is not KLD its the shadow directors behind him
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KLD may well be the "managing director" but that share split is going to prevent him injecting new money unless the minority shareholders match the new money or agree to have their shareholding diluted.

I fear KLD is tarnishing his own reputation by his continued association with the Madrox chancers whose sole priority is to cling on to Sunderland , while risking no further cash until someone somewhere meets their idea of a suitable valuation. On that basis we are stuck in League 1 indefinitely.
 
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