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Confirmed KLD only owns 41%

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Serious Question - I’ve seen and heard it mentioned that this lot have set us up in a way they’d prefer us to stay in this division… I don’t understand why financially that would make sense to anyone… ? 👍 can someone explain why they would?
 

Georgewhitt said:
Anybody still questioning why Roy Keane told us to f***ing do one, now has their answer.
Fuck the f***ing lot of them.
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Got to question where the leaks that we’d agreed to get Keane had came from anarl. Can only imagine them two idiots telling everyone again like FPP deal.
 
sadsack01 said:
Fair, but with someone new (KLD for example) coming in, he could look at the amount paid for the number of shares owned by current shareholders and negotiate to pay more but then have more voting rights. Or am I wrong here?

Either way, you only really talk about the finances and shares. Whats your understanding from your previous studying of the books on the voting split?
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Normally, all shares have equal voting rights; 20% of the shares gives you 20% of the votes. On the shareholding/control issue, it's far from conventional. KLD clearly has less than 50% of the shares, but says he has non-negotiable full control over the composition of the board and all club operations, things which normally require a majority. This implies a separate shareholder agreement conferring those powers.
 
Pudding said:
Serious Question - I’ve seen and heard it mentioned that this lot have set us up in a way they’d prefer us to stay in this division… I don’t understand why financially that would make sense to anyone… ? 👍 can someone explain why they would?
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I don't think they would, we can't really be sustainable at this level. Mind, we can't really be sustainable in the championship either, I can't remember the figure but you only get a few million more in TV money, but obviously have to spend to try and compete with recently relegated PL sides and attendances wouldn't jump that much to cover it. So in one way maybe things are less bad in this league, but we're also further away from the PL where they could make genuine money, so I doubt they'd want us staying here
 
Guinness Guzzler said:
I don't think they would, we can't really be sustainable at this level. Mind, we can't really be sustainable in the championship either, I can't remember the figure but you only get a few million more in TV money, but obviously have to spend to try and compete with recently relegated PL sides and attendances wouldn't jump that much to cover it. So in one way maybe things are less bad in this league, but we're also further away from the PL where they could make genuine money, so I doubt they'd want us staying here
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Nobody is, that's the problem with the division. However, staying in L1 would create a death spiral of declining revenues as fans lost interest, which would damage their investment more.
 
Pudding said:
Serious Question - I’ve seen and heard it mentioned that this lot have set us up in a way they’d prefer us to stay in this division… I don’t understand why financially that would make sense to anyone… ? 👍 can someone explain why they would?
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I think longer term they just want to be a farm for teams so that they can sell players on for more money and therefore minimise shareholder investment. If we say Norwich for an example. Donald’s dream in the beginning really.

It’s wrong to say that they want to stay in L1 imo. It’s the only way Donald could have afforded to keep the club before KLD came on board though. The fella doesn’t have a pot to piss in he’s a total chancer.

To be fair it’s not the worst idea in the championship but we’re miles away from that and even being the likes of a what a Norwich were.

The likes of Norwich have good infrastructure, we talk about having good infrastructure…

That’s my take on It all anyways. Always has been.
 
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Pudding said:
Serious Question - I’ve seen and heard it mentioned that this lot have set us up in a way they’d prefer us to stay in this division… I don’t understand why financially that would make sense to anyone… ? 👍 can someone explain why they would?
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Off the top of my head I'd imagine revenue wouldn't go up by much in the Championship. Attendances will probably be similar, whereas we'd be expected to pay much higher wages etc for players. The only big difference in income would be to make the Premier League. And I for one, hope those fuckwits are nowhere near our club by then.
 
Grumpy Old Man said:
Normally, all shares have equal voting rights; 20% of the shares gives you 20% of the votes. On the shareholding/control issue, it's far from conventional. KLD clearly has less than 50% of the shares, but says he has non-negotiable full control over the composition of the board and all club operations, things which normally require a majority. This implies a separate shareholder agreement conferring those powers.
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If Sartoris shares are non voting shares then the maths gives KLD the voting majority.

Some have said that he had to convert them to non voting when he ran for president. Could that be the case?
 
OzzyMac said:
If Sartoris shares are non voting shares then the maths gives KLD the voting majority.

Some have said that he had to convert them to non voting when he ran for president. Could that be the case?
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Those were shares in Madrox. The shares he now owns are in Mercator. No-one knows what the exact structure is. Very few decisions actually go to a shareholders vote, because most matters are for the directors to decide.
 
Grumpy Old Man said:
Normally, all shares have equal voting rights; 20% of the shares gives you 20% of the votes. On the shareholding/control issue, it's far from conventional. KLD clearly has less than 50% of the shares, but says he has non-negotiable full control over the composition of the board and all club operations, things which normally require a majority. This implies a separate shareholder agreement conferring those powers.
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Could be that the Madrox lot have preferred stock rather than common stock shares? Meaning they forego voting rights but likely get paid dividends and will be paid out ahead of the actual shareholder if going into liquidation (if I understand it rightly)?
 
Fetch Fletch said:
I don’t know what worse.
Being sat here hundreds of miles away from anyone to talk this through with.

Or Being Stewart and Methven right now knowing what’s coming.

I’d imagine the fans being accused of some ridiculous fabricated terror act by the weekend.
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Don’t put ideas in Donald and Methvens heads man.
Fetch Fletch said:
I think we can safely say the fit and proper owners test is a complete joke.
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It’s to check if they’ve been convicted of a crime that’d carry a custodial sentence if carried out in this country and a few other bits n bobs. Being crap owners, devious, insulting and economical with the truth won’t get anyone banned unfortunately.
 
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BumbleBee said:
Anyone thinking KLD, a billionaire twice over, is involved in subterfuge because he wants to make a few million flipping the club are off their fecking rocker like :lol:
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He wants to run safc self sufficiently to show his mam and his dads auld marras that hell be able to run Marseilles or some other ESL contender in a similar manner when he starts to get his hands on his money.
 
riffraff said:
He wants to run safc self sufficiently to show his mam and his dads auld marras that hell be able to run Marseilles or some other ESL contender in a similar manner when he starts to get his hands on his money.
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Hes more likely to be running it self sufficiently because he isn't willing to prop up madrox.
 

Takeover News/Rumours - Part 42

I’m not foaming at the thought of Johnson, however it’s league 1. After we fucked up Poyet he’s potentially best of a bad bunch. The January window is key for me as we need investment, salary cap or not. Johnson’s first task is to get a tune out of Grigg, if he can do that we’ve got a goal...
www.readytogo.net www.readytogo.net

See my post #2,511 about this back in December 2020, it appears that my speculative guess sounds about right after what has come to light.
 
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