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#DonaldOut

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Grumpy Old Man said:
Madrox currently has a share capital of £1,000. Under the terms of the loan agreement, under certain conditions FPP can convert some or all of the loan to shares in Madrox. Once you own over 90% of the shares in a company, you can compulsorily buy out the other shareholders for the price per share you paid for the other 90%. This is what Bob Murray did all those years ago when he bought out the fans who'd bought shares when the club was a plc.

So all FPP need to is to convert enough of the loan to give them a 91% shareholding, and, hey presto, they get the club for pretty much half of bugger all.
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Or Donald clears their loan with other finance and takes them out of the loop.
 
Nelson! said:
Good on the fanzines/RAWA coming together to put that out jointly.

In most situations you'd expect at least one of the supporter led publications to hold a contrary view. The fact they're all singing from the same sheet (Parky needs to go, and so does Donald) tells you all you need to know about how bad things are.

I've never known us this unified. Time to put the pressure on in whatever way we can.
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C’mon Sunderland, let’s f***ing do it.
 
Ashley In!! said:
Or Donald clears their loan with other finance and takes them out of the loop.
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That's literally the only option Donald has left. He needs to pay £10m for the ability to sell the club, and he won't get that back from a buyer.

Actually, thinking more clearly, he can't take out another loan to pay this one off without permission from FPP either. He can only repay it from his own (or Sartori's) pocket.
 
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Rueben Agboula said:
Exactly this. The loan is effectively a noose around Donald’s neck and he’s about to gang himself. He shouldn’t have been so greedy

Yes - he wanted too much for it
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Didn’t the Americans change the valuation? At the end of the day, he didn’t have the clout to negotiate with 3 multi billionaires
 
Scotty 1978 said:
I was told that the Americans told him the club wasn’t worth anything
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Sounds accurate, the only value is the land it occupies for redevelopment. The stadium is worthless in the 1st or 2nd division and the crowds wont be there for much longer. Massive potential but absolutely years away from profit and/or success.
 
Grumpy Old Man said:
Madrox currently has a share capital of £1,000. Under the terms of the loan agreement, under certain conditions FPP can convert some or all of the loan to shares in Madrox. Once you own over 90% of the shares in a company, you can compulsorily buy out the other shareholders for the price per share you paid for the other 90%. This is what Bob Murray did all those years ago when he bought out the fans who'd bought shares when the club was a plc.

So all FPP need to is to convert enough of the loan to give them a 91% shareholding, and, hey presto, they get the club for pretty much half of bugger all.
Click to expand...
So what's to stop them doing this immediately? Thanks for the explanation btw!
 
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