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Donald on BBC Newcastle

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MadMackem10 said:
Well ill start of with the 15 million they paid for the club majority by him, then add on transfer fees the club had spent including 3 mill plus on one play, then he was the one funding the massive losses they were making when they first came in and that will be pretty close to 20 million
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He also said he is owed 20 million.
 

Morse said:
He admitted there actually was a takeover on the table like many fans had insisted was the case, after we were told we were wrong and that there was only ever going to be an investment.

That’s a pretty serious lie to be caught in.
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He also said he came of twitter as it wasn't helping the club and hadn't been to games because he's been home as his parents have been unwell. Said our fans are amazing.

All while Methven says everyone chance he gets he stopped because of fans abuse and the fans are stopping people wanting to buy the club.
 
Morse said:
He admitted there actually was a takeover on the table like many fans had insisted was the case, after we were told we were wrong and that there was only ever going to be an investment.

That’s a pretty serious lie to be caught in.
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This, how many more lies are salmon pants and stewy going to be caught in.
 
I reckon he is including the 15 million he gave to short as part of the 20 million he says he has put in, which ties in with his 4 year plan he mentioned of 5 million last year, 5 million this year and 10 next 2 years
 
MadMackem10 said:
Well ill start of with the 15 million they paid for the club majority by him, then add on transfer fees the club had spent including 3 mill plus on one play, then he was the one funding the massive losses they were making when they first came in and that will be pretty close to 20 million
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Where did the parachute payments go?
 
one armed boxer said:
For the record I choose to hope his intentions are as he says, because ultimately if they pan out like that it will be for the good of the club I’ll love. However he has again spoken at length and his dialogue has included a fair number of contradictions.

But, let’s just hope it all works out for the best.
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People have every right to at least question him but when i saw the fan reaction to him they werent even giving him a chance to explain himself and are wanting him out of the club
 
Grumpy Old Man said:
It's totally normal in a group of companies, which is what we have here,for a loan to one group company to be secured on the assets of more than one. The debt is owed by one company, but having security set up this way gives a lender options in the case of a default. It's legal overkill. The reality is that, in the event of a default, FPP will activate their bail-in clause to acquire the club, or else appoint an administrator to Madrox to sell on the shares in Sunderland. The individual assets of the club companies would only come into play if there were no takers for the shares in Sunderland. Given that an administrator is only required to recover the debt of the secured creditor if appointed by them, the asking price would be the value of the loan, plus a small amount to cover administration costs - say around £10m.

And all this is hypothetical if there is no default.

Would you tell a mate who's just taken out a mortgage that he's bound to see his house sold from under him? Because what's being suggested is the equivalent of that.
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Cheers, I get that, but to say the club isn't in debt, is that strictly true or sm I reading too much into it
 
samaistonsrightfoot said:
He also said he came of twitter as it wasn't helping the club and hadn't been to games because he's been home as his parents have been unwell. Said our fans are amazing.

All while Methven says everyone chance he gets he stopped because of fans abuse and the fans are stopping people wanting to buy the club.
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And yet a few on here were quick to side with tory boy and slag fans off.
 
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