"IF we default on repayment, The fans will get what they want anyway"

[The Albanian]

Don’t think it would be a good thing - the yanks have already said expressly they have no wish to run a football club.

As investors seeking a sure fire return on the capital they deployed, they’d be more likely to sell of all the clubs property assets and pocket the cash, than they would be to run a business in an industry they don’t know, which is a notorious money black hole, and probably lose even more money.

 

[SAFC 2012]

his intention is to lose 40m quid out his own pocket by not selling the club?

I have my doubts

Out of his own pocket

 

[The Albanian]

his intention is to lose 40m quid out his own pocket by not selling the club?

I have my doubts

I think he’s only actually spent summat daft like £5m of his own money (and recouped £3m when he sold 20% to Sartori)

 

[Hawyatt Earp]

What a spiteful, spoilt brat like quote that is like.

hes like a bitter ex girlfriend.

how the ferk does he know what the fans want anyway.

bizzare.

He reads this site!

Hi Stewart, please quicken your departure and ask the Americans to take over fully at the board meeting..

I don't think its as altruistic or as aligned with what the club needs as they would make out.

You're on the nose quite a lot...

 

[cbwhu]

I think he’s only actually spent summat daft like £5m of his own money (and recouped £3m when he sold 20% to Sartori)

but he'd still be losying that amount or whatever the club is worth of profit, which is why this won't be happening

 

[thecloughywobble]

Anyone else thinking this might be the intention? Chasing the yanks to put money in, that will lead to them owning the club if SD etc stop paying the loan. Part of me thinks it's understandable. they've had a go, but is it more bother than it's worth to them? Considering they already have successful businesses going on anyway.

If they want to get off the magic carpet I would, for one, totally understand. They said in the beginning they would leave if it becomes clear the fans want them out. Seems that's where we are at now. Cost-cutting galore and then appointing PP, the Maja fiasco. I think they have done a great job getting the clubs finances in order.

Just not anything else.

Still appreciate them getting involved. Saved the club by all accounts.

Where's the title quote from, please, mate?

 

[Hawyatt Earp]

but he'd still be losying that amount or whatever the club is worth of profit, which is why this won't be happening

Unless he's truly terrible at running a football club...

Where's the title quote from, please, mate?

One of his radio car crash interviews

 

[cbwhu]

Unless he's truly terrible at running a football club...

even then you would imagine he'd be able to raise the 10m needed fairly easily

 

[Father Jack Hackett]

Sounds dodgy as fuck to me and did at the time. In other words "if we fuck up and the Stadium and AOL are owned by people who no-one knows what their intentions actions are, it's what you all wanted anyway"

 

[thecloughywobble]

Unless he's truly terrible at running a football club...


One of his radio car crash interviews

Ah. Talk Sport?

 

[Hawyatt Earp]

Sounds dodgy as fuck to me and did at the time. In other words "if we fuck up and the Stadium and AOL are owned by people who no-one knows what their intentions actions are, it's what you all wanted anyway"

He's a very emotional man. Can't hide them at all

 

[young2077]

Why don't they just sell then, as was the intention when first engaging the yanks. It only went tits up because of SD's delusion of grandeur that he was worthy of being a major Premier League Chairman.
Defaulting the loan gives it to the Americans for 10m when he could have had 40m two months ago.

That a fact or you guessing/reading between the lines?

 

[PhilSAFC]

Is that an actual quote?

 

[oddbod]

something businessmen are famous for doing of course

Yes its business practice but why did and still continues to do does don spin and obfiscate any discussion on the use of the parachute payments to pay for the club?Its not the deed but the explination i have difficulty with!

 

[cbwhu]

not one hit for the phrase "
"IF we default on repayment, The fans will get what they want anyway"

in all of google

Actually there is one hit. This thread.

it appears absolutely nowhere else on the net

 

[Sam Handwich]

That a fact or you guessing/reading between the lines?

No-one but those in the room will know the exact details and they will never tell, but i think there is enough "hearsay" from respected sources out there, to suggest that this is close to what happened.

 

[oddbod]

even then you would imagine he'd be able to raise the 10m needed fairly easily

its a loan and he doesnt need to raise the full 10 million ,just the repaymentswhich as far as i know nobody but the twp parties are aware what they actually comprise.

 

[ChicagoCat]

not one hit for the phrase "
"IF we default on repayment, The fans will get what they want anyway"

in all of google

Actually there is one hit. This thread.

it appears absolutely nowhere else on the net

“So the only exposure, in reality, is for Juan, Charlie and I, because if we don’t make good on the repayment, all that basically happens is – what quite a lot of Sunderland fans want, I think – is that the guys who have lent us the money will have control of Madrox. We’d lose the money that we have invested, that would go into the ether, and the American investors would get the lot."

Sunderland chairman defends £9m loan deal and denies being a ‘chancer’

The Sunderland chairman, Stewart Donald, described his decision to borrow £9m from a group of United States investors as a ‘win-win’ scenario for the League One club

www.theguardian.com

 

[Father Jack Hackett]

Is that an actual quote?

It is, I heard it

 

[Mackemjmc]

Not necessarily. Who knows what the Yanks really want?

My worry is a fire sale to get back what they can.