• The forums will be unavailable for a few hours on Saturday 6th June, when they do return they will initially be in a degraded state with some features missing, but normal posting/reading will be possible. The main website will not be affected by these updates.
    New user registrations are currently disabled.
    Some other features of the forum are also currently disabled.

Confirmed KLD only owns 41%

Status
Not open for further replies.
Grumpy Old Man said:
It's simply the new Madrox. A holding company owned by the various members of the "ownership group" in the disclosed proportions, rather than them having shares in Sunderland themselves. Pretty much a standard set up these days.
Click to expand...
Cheers. Why is it that they wouldn’t just have shares in Sunderland?
 

Guinness Guzzler said:
The board are kyrils, that much is almost certain. Equally it's very likely that kyrils 41% includes the majority of the voting shares (that's the only thing that would tie in with the statements about him having the controlling shareholding). Why they've lied about it, what influence Methven is having even without a place on the board, why they're still here and when they're going to leave are very much pertinent questions though.
Click to expand...

This, I've been involved with businesses that had investors who owned X% but no say in short or medium term decision-making as part of the agreement, "sleeping partners" in old lingo. Ownership matters, but so does the composition of the board. There can also be a time related aspect to shareholding shifts to smooth changes in value in the interim between outgoing and incoming. This 41%/59% doesn't look pretty, but it's not the disaster scenario some are pointing too, plus it is clear that 59% is fragmented rather than a solid block. Questions about those we thought were out of it are entirely valid though as we move forward.
 
How much did Kyril even pay for his shares, do we know?

Just it was rumoured he’d paid around 40 million which would see the club valued at 85 million & not the 36 million Donald claimed he’d listed it for when he ‘only wanted his money back’ :rolleyes::rolleyes::lol:
 
Guinness Guzzler said:
It's almost as if those "spouting conspiracy theories" knew it. We need full disclosure on when Donald and Methven are being fully bought out. Some will say they aren't concerned, but when the "takeover" happened I don't think anyone thought kyril would have just 41% of the club
Click to expand...
To be honest at this point it doesn’t matter what news is filtered from the club as all trust has completely gone.
 
Johnsafc said:
How much did Kyril even pay for his shares, do we know?

Just it was rumoured he’d paid around 40 million which would see the club valued at 85 million & not the 36 million Donald claimed he’d listed it for when he ‘only wanted his money back’ :rolleyes::rolleyes::lol:
Click to expand...

Unknown. Might get a clue on the overall valuation from Madrox's next set of accounts.
 
Johnsafc said:
How much did Kyril even pay for his shares, do we know?

Just it was rumoured he’d paid around 40 million which would see the club valued at 85 million & not the 36 million Donald claimed he’d listed it for when he ‘only wanted his money back’ :rolleyes::rolleyes::lol:
Click to expand...
Sartori paid a fiver for his percentage didn't he? So no, nowhere near that valuation.
 
McMackem said:
This, I've been involved with businesses that had investors who owned X% but no say in short or medium term decision-making as part of the agreement, "sleeping partners" in old lingo. Ownership matters, but so does the composition of the board. There can also be a time related aspect to shareholding shifts to smooth changes in value in the interim between outgoing and incoming. This 41%/59% doesn't look pretty, but it's not the disaster scenario some are pointing too, plus it is clear that 59% is fragmented rather than a solid block. Questions about those we thought were out of it are entirely valid though as we move forward.
Click to expand...
That's all fine, people understand that, so just tell us that's the case. They haven't they have at best been misleading on the back of a load of other similar things over the last few years. Who knows if any of that is even true we only have his word for it.
 
sksk3021 said:
It’s really worrying that they have intentionally misled the fans about this.
Click to expand...
Shady is the best word that comes to mind. KLD will buy out the rest of the clowns shares. if we get promoted these shady characters will have another round of investment to come up with which will force there hands and KLD will take over there shares my thoughts…KLD is not going to spend big money until they are off the books…
 
Sweeper said:
There’s nothing to suggest that anyone has non-voting shares. Indeed, given the shot-storm that they knew would erupt when this became public, if there was a majority of voting shares with KLD, they’d have said it in their statement today. No reason not to. The fact that they haven’t said that today, in my eyes means it’s not true.

We’ve been lied to, by KLD as much as the rest. He does not have a controlling interest in the club. The fact that he has a majority of board members under his influence is ultimately irrelevant. The executive board members are employees of the club, accountable to the shareholders. Donald and Sartori could sack and replace them if they wanted to,
Click to expand...

We don't know the contractual commitments set in legal terms - 41% is a hell of a slice to buy but simply have no power, conditions on the board membership for a period of time may well have been written in to the purchase.
 
KittenMittens said:
This is the salient point. That they have to be aligned in both interest and capacity to act.

It's having a wealthy owner in name only. We're still hamstrung by the fact that the majority of owners are the same as those who have still not paid back the money they owed us after dispensing of £20.5m in club funds.
Click to expand...

Just want to point out that this is equal to 41% if SD reckoned the club was worth £50M when KLD got involved.
 
sksk3021 said:
That's all fine, people understand that, so just tell us that's the case. They haven't they have at best been misleading on the back of a load of other similar things over the last few years. Who knows if any of that is even true we only have his word for it.
Click to expand...

You are entirely correct, it is a very strange statement that's come out, though again there may be legal aspects to this.
 
Why is anyone surprised?
I said at the time that Madrox and SD need completely removing from the club.
If any shareholding remains they have influence.

Need to get rid 100%

And people are surprised how crap we remain!!
 
Status
Not open for further replies.
Back
Top