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Confirmed KLD only owns 41%

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Confucius said:
When did they uncover the murderous mag regime? What bit don’t you understand?
They are quite happy to out a deceitful, lying Sunderland ownership, but neglected to call out NUFC owners for what they are. They didn’t, they lapped it up as being the ”richest club in the world”
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Fuck the Mags, thousand times over, but this is about our owners. You're acting as if this is an attack on Sunderland....
 
Riordan said:
Fuck the Mags, thousand times over, but this is about our owners. You're acting as if this is an attack on Sunderland....
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You aren’t even a Sunderland fan man, get over yourself. Where was the Chronicles ”attack” on the Saudi’s? It’s supposed to report on anything North East, they don‘t
 
Guinness Guzzler said:
A very good suggestion. I've mentioned to RAWA that if he doesn't attend it's yet another slap in the face of the fans. But aye, now we know the split there's actually very little point in having a meeting unless kld is there. Most of the things the fans will want answers to aren't going to be able to be properly addressed by speakman or Davison. I imagine it'll go ahead but I think I agree with you that it might as well be cancelled if he isn't going to be there
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Turn up. See who safc wheel out. If you’re not happy with whoever that is then walk out.
 
garyswc said:
I am guessing KLD's control will be limited to appointing a board of directors. Presumably the ordinary shareholdings and prevailing pre-emption rights will dictate whether new share capital can be raised and who has the opportunity in which proportion to buy them, i.e. in other words the control afforded to KLD will not be such that he could bulldoze through a new rights issue knowing fine will at a high enough value the others couldn't afford it. I am also guessing D, S & M would have ensured this cannot happen and probably hence why KLD has under 50% in the first place?
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Yeah that's pretty much correct. Think of it like being a child owning a dog. Everyone is in on the conceit that it's the child's dog, until the dog needs to go to the vets, when it's mam and dad's name on the bill :D

The latter point you make was what I was arguing with Hep a few months back (strangely he's disappeared!). Share issues are the kind of thing you protect at all costs, for the reason you state.

The biggest misconception people have about running a company is that 51% trumps all. It doesn't, almost all major forseeable decisions are guided by a 'special majority', for example to issue shares they may need the consent of 3 of the 4 shareholders, or even all 4. They may even need only one specifically named person to give consent.

Ironically, however, any ad-hoc decisions not covered by the agreement would need 51%, and that means in this case that KLD can never act alone, and he also can't act against SD and JS's wishes. The problem is that anything guided by 51% like that is unlikely to be important.
 
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KLD has two options imo

Puts his money where his mouth is and buys the chancers out

Puts head in the sand and disappears till new owner comes to buy us
 
Riordan said:
Fuck the Mags, thousand times over, but this is about our owners. You're acting as if this is an attack on Sunderland....
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I think he’s pointing out the rank hypocrisy of a mag rag highlighting the inadequacies of the Sunderland ownership whilst conveniently neglecting to mention the less savoury and altogether more deadly activities of the NUFC owners when the news broke. But you know all that.
 
sir rowell cummins said:
I’m hugely disappointed in the facts. I think the language needed clarification and was deliberately vague to say what we wanted to hear. I’m prepared to see what further clarification there is about how the club is run before judging but there needs to be more about who actually controls what in real life no share numbers. Apart from the back end of the window and there odd signing error I think the club have made progress since KLD. Im not hitting myself with a rock yet - but if there was anything I could do to ensure the club made progress and Donald and Methven got no profit at the same time I’d be doing it.
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Feeling the same. We know how Donald and Methane lie. Remember the line "When i'm not wanted here, i will sell the club.I won't need telling" .......Then he lied about the SAFC kidnapping his daughter and resigned as chairman the day straight after been called out on the story. I don't put KLD in any of this but he's been strung along by them.

Just say the truth. No more statements which could mean certain things, but not exactly, and could also mean something else. I know finance language is vague but them 2 us it to the extreme. It's lie after lie after lie with them 2 . I hope KLD buys them out and get's us going forward as he is our only hope atm so don't bite too easily as he's a young lad and we don't want to chase off someone who has our interests at heart unlike them 2.
 
I'd like to burn my season card in front of Donald's face and tell him to get out of my club.

Seriously considering not renewing. This club is a f***ing joke. I had backed KLD but it's clear the club is happy to lie to us, constantly.
 
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Where there's smoke there's usually fire, and this situation has stank of a cover up since day one.

My suspicion has long been that Donald & Methven were never leaving the club until it is at least in the Championship and they can cash out a bounty, there wasn't a snowball in hells chance they could stomach the club being promoted while watching from a far without financial interest.

Our club was always a financial hit job for them but it's turned into a bad debt - hence fringe politicians from Uruguay & now a billionaire playboy being conned in to prop up the club while retaining their overall future should the club ever be promoted.

What sits most uncomfortably is that while used as a play-thing their own failures have spawned malicious and asinine observations about the fan base, who are the only thing keeping their investment from starching out. No better than your average sales folk but with a sense of divinity oft-reserved for royalty.
 
Dilligaf60 said:
I think he’s pointing out the rank hypocrisy of a mag rag highlighting the inadequacies of the Sunderland ownership whilst conveniently neglecting to mention the less savoury and altogether more deadly activities of the NUFC owners when the news broke. But you know all that.
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Yes, but not relevant when we need media to point it out and build pressure on them

This is why I don't read the Chronicle at all.....
 
nandos sonic sauce said:
Feeling the same. We know how Donald and Methane lie. Remember the line "When i'm not wanted here, i will sell the club.I won't need telling" .......Then he lied about the SAFC kidnapping his daughter and resigned as chairman the day straight after been called out on the story. I don't put KLD in any of this but he's been strung along by them.

Just say the truth. No more statements which could mean certain things, but not exactly, and could also mean something else. I know finance language is vague but them 2 us it to the extreme. It's lie after lie after lie with them 2 . I hope KLD buys them out and get's us going forward as he is our only hope atm so don't bite too easily as he's a young lad and we don't want to chase off someone who has our interests at heart unlike them 2.
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Yep
 
KittenMittens said:
Yeah that's pretty much correct. Think of it like being a child owning a dog. Everyone is in on the conceit that it's the child's dog, until the dog needs to go to the vets, when it's mam and dad's name on the bill :D

The latter point you make was what I was arguing with Hep a few months back (strangely he's disappeared!). Share issues are the kind of thing you protect at all costs, for the reason you state.

The biggest misconception people have about running a company is that 51% trumps all. It doesn't, almost all major forseeable decisions are guided by a 'special majority', for example to issue shares they may need the consent of 3 of the 4 shareholders, or even all 4. They may even need only one specifically named person to give consent.

Ironically, however, any ad-hoc decisions not covered by the agreement would need 51%, and that means in this case that KLD can never act alone, and he also can't act against SD and JS's wishes. The problem is that anything guided by 51% like that is unlikely to be important.
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Yeah I'd be guessing 80% in agreement for new share issue, even 51% would not be able to drive that unilaterally, 75-80% would rule out a power grab by say Sartori and KLD ie those with real money
 
Hardyman's Yugo said:
If as we now understand the Chuckle brothers grouping own 59% when aggregated, I wonder if their intention to stay as shareholders was what stopped the MSD purchase from going ahead
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Couldn't be that. Donald said they were investing in him and not SAFC. God we are that lucky to have him . Remember when he couldn't stop lapping the attention up on RR and all sorts saying he's going to be clear throughout.

He is keeping well out the way
 
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