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Loans/ Debt to the owners

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Swindon On Tour said:
....and yet you all go to the match, no vocal resentment against them and no protests?
Find that incredible as I do with the incredible numbers that keep turning up accepting the shite.
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Said it another thread that I was shocked there were no even anti-Madrox chants the other night. In no way are fans to blame but as a whole we are far too passive, always have been.
 

Smartin said:
So the new news is apart from the club being fucked, it’s also fucked?
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There is no new news yet, nothing has been released or mentioned yet. People are just jumping to conclusions based on a rumour something bad is going to come out soon
 
Smiler said:
There is no new news yet, nothing has been released or mentioned yet. People are just jumping to conclusions based on a rumour something bad is going to come out soon
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Something bad has come out - whether it's true or not has yet to be determined. KLD is not implicated though - which is good news.
 
Binxy said:
People will still defend them.
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Not many marra
Think most are confused ( well I am anyway ) by what has really gone on.
The lack of communication caring and transparency to those who follow the lads is shocking -and the seeming contempt with which we are held is terrible .
I will still support the lads mind née way these lot represent me or those that loved the club with me over the years and have sadly passed .That’s who I represent and will remember long after this shambles have left to move onto their next “ venture” .
 
BumbleBee said:
Something bad has come out - whether it's true or not has yet to be determined. KLD is not implicated though - which is good news.
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More riddles -does it ever end?



Mrs white -with the candlestick in the library ( I’m out !)

We are a 3rd division football club not the secret service
 
Hep said:
It makes no difference.

The club they own, owe money to them. It's a frequently used accountancy method known as a directors loan.

Can anyone explain why they think it's an issue?
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Why should we owe money to them? What happened to the £20m parachute money?
 
sir rowell cummins said:
And I’m presuming these are both ? Sorry my daughter’s to get a few broken bones and I’m on nurse Rowell duty so not time to keep up with it all.
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Christ, mate! I hope that’s not as terrible as it sounds!

I was going to post ‘Why, has she said she’s going to support Newcastle?’ but I thought I’d better play it safe...
 
1879 said:
20k(ish) will renew next season regardless I feel. Away numbers will stay strong… can you honestly see a planned and collaborative approach to a protest at the match?

I think there should be one, but apathy won’t enable to happen. Gallows humour has well and truly set in on the terraces.
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Imo you’ll be looking at 15-16k season tickets next season. Loads have had enough and have already stopped going.
The only way we’ll get the club into safer hands is to stop going. Cut their season ticket money off and also matchday revenue. I know it’s hard for people to stop going but that’s what’s got to happen.
 
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Houghtoner said:
Said it another thread that I was shocked there were no even anti-Madrox chants the other night. In no way are fans to blame but as a whole we are far too passive, always have been.
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We are considerably smaller but we are always active when our club gets threatened.
Helped massively remove some from our club. The last scum bag hired a massive security presence when attending games, however was always vocal chanting against him. Flags unearthed away from home. At home games everything was checked before coming into the ground.

All positive once again and everyone 100% behind the new regime (for now 🤞)
 
KittenMittens said:
Well, this is yet another shocking turn up for the books.

So they've been putting in the money that they said they'd pay back as a debt? Nope. Fuck that, this runs contradictory to everything they said they'd do. They owe us that money, they don't owe us 'funding' or loans back to us to repay loans that they took from us and then wiped off the books.

To me there are 3 incidents in the last 3 years that warrant scrutiny:

1: The taking out of the Close Bros loan in May 2019 at the same time that Donald paid off at least £7.6m of his personal debt to Ellis Short for the purchase of shares. That share purchase was almost certainly secured against the club via charge 000491160029 or 000491160030, which was written off within 2 weeks of them taking out said loan, of which they said odd things, such as 'they realised they didn't need all of it', and it was 'an advance on the parachute payments' - hint: The debt was secured against parachute payments, therefore by saying this, they immediately bring into play the idea that one or more of the debts Donald owed to Short were paid via this loan that they 'didn't need'.

2: The repayment of FPP's £9.5m loan to Madrox in 2021, and the method of doing so (ie: to confirm that club money was not used). This is the one that is hardest to work out, but I can guarantee you something right now: There is virtually no chance that they paid that in without trying to find a way for the club to pay it back.

3: The methods used to pay back - not 'replace', not 'fund', but pay back the debt they wrote off to the club - the parachute money that otherwise, they used as working capital for their deal to purchase the club.

There may be innocent explanations for all of these things, but I do not for one second believe that all of the above things will have been done the 'right' way that leaves us in a net neutral position vs where we would have been with the £25m parachute payment in the bank in 2018.

Get them OUT.
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1. Those charges were Short's insurance policy against any default. The Close Bros loan, which was not secured, was, in all probability used for that final payment to Short, in lieu of parachute payments which had not been received. As it was repaid long before the year end, there's no way of knowing whether that loan was to Sunderland or Madrox. This is evidenced by SBC's charges over Short-owned assets (including the Hilton) were lifted at the same time.

2. The FPP loan came into the club as share capital. As the repayment came in November 2021, long after the takeover completed, this was almost certainly met by cash received by Madrox from Mercator.
 
Again, the people who fell over themselves and rounded on anyone who dared to suggest that this lot were an absolute disaster for the football club.

You might call them out now but blood is on your hands, or is it tomato ketchup from your free burger when you fitted your seat.

Clowns.
 
Wearside Wanderer II said:
This is pure football ya fanny, where we talk about ………. Football.

Get yasell to the politics forum if you want to be a crying snowflake and discuss issues away from football.
I’m lost for words to describe someone like you.
Oh I do, yer a soft cock twat.
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Nice well thought out reply in your own unique style, exquisitely phrased. A few too many Merlots tonight Hugo?
 
Pepe said:
Again, the people who fell over themselves and rounded on anyone who dared to suggest that this lot were an absolute disaster for the football club.

You might call them out now but blood is on your hands, or is it tomato ketchup from your free burger when you fitted your seat.

Clowns.
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Wadn't say blood like but bit naive probably.
 
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