Club maybe sold by end of month

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Whoever buys us needs to bring in a recruitment team and scouting team for a start, it’ll not be a quick fix either!
It’s going to cost a lot of money to get us back in the Premier league if we ever get back!
 
"While looking for a price tag of £40m, the current club owners have told prospective buyers that Sunderland could be worth as much as £250m in the future if they are able to return to the Premier League. "

Blimey you pay just £40m and in no time at all you will have a £250m club :eek:
I would put in a bid myself but at the moment I have loaned all of my money to some poor chap in Africa who urgently needs to get his £10m legacy sent to a UK bank
 
Grumpy Old Man said:
That's one way of settling it. The point is it will need to be resolved one way or other, unless someone is willing to buy Madrox complete with the balance.
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Charlie Methven referred to the money "owed" to pay back the equivalent of the parachute payment as a "phantom debt" didn't he and SD has been less than clear on whether that parachute equivalent will be paid back if the club is sold for enough dosh. If someone is willing to pay SD £40m I seriously doubt SD intends to pay the circa £25m back, however the deal is structured. I hope I'm wrong. If he walks away with something close to £40m it would be a downright disgrace as he has put nowhere near that in himself.
 
Boot Cleaner said:
Would take longer than that to do full due diligence... Unless its a certain group who already looked at the books...
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Have just read the article and that was my first thought Sold by end of feb I’m no expert but Is it possible for a new buyer to come in now and do due diligence etc and get the deal done in 3-4 weeks
 
Grumpy Old Man said:
The balance between the club and Madrox will have to be dealt with one way or another. In the club's books it's a normal trade debtor. If he sells Madrox the balance will remain. In some circumstances, a buyer might actually find that attractive as it means the first tranches of money they might put in won't create a balance owing to them. If Madrox sells the shares in Sunderland, then any buyer will want that resolving before completion.
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Why did you spend so long arguing with me in the summer then? :D this was my entire point, that Donald had created this potential stumbling block, and you went out of your way to paint me as a malcontent or 5th columnist.

Now you bloody agree with me! Well glad you've seen sense at least GOM, let's not leave it another 8 months :D
 
Barney Rubble said:
Charlie Methven referred to the money "owed" to pay back the equivalent of the parachute payment as a "phantom debt" didn't he and SD has been less than clear on whether that parachute equivalent will be paid back if the club is sold for enough dosh. If someone is willing to pay SD £40m I seriously doubt SD intends to pay the circa £25m back, however the deal is structured. I hope I'm wrong. If he walks away with something close to £40m it would be a downright disgrace as he has put nowhere near that in himself.
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Whatever Methven thinks, it's a debit balance in the books of Sunderland which is probably legally enforceable, though obviously that wouldn't happen under the current owners. I can't see that anyone would pay Donald £40m for the shares in the club without the balance being cleared. If Donald sold Madrox, a buyer might not be less worried, unless they wanted to recoup every last penny they put in by creating shareholder loans.
 
KittenMittens said:
Why did you spend so long arguing with me in the summer then? :D this was my entire point, that Donald had created this potential stumbling block, and you went out of your way to paint me as a malcontent or 5th columnist.

Now you bloody agree with me! Well glad you've seen sense at least GOM, let's not leave it another 8 months :D
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I thought we were arguing about what the balance represented, whether it was effectively paying off a club debt cosmetically removed by Short or Donald getting assistance in his own purchase.
 
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