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

[cbwhu]

ah so

“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

he paraphrased him

fair enough

 

[tooliohelmet]

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.

Fucked me off as well....we just want a club that competes!

Is that an actual quote?

CM said it at the talk in at the stadium the other day.

 

[thecloughywobble]

“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

Thanks for hoying that up, marra. Very helpful.

To put the quote in context, Donald goes on to say that there's no way they'll default on the loan/investment. I ask myself: Why would they? Unless the club became virtually worthless, it would be an act of lunacy to lose it to the Americans in such a way, wouldn't it? Or am I missing something?

 

[Black Cat Gypsy]

It's a standard loan. If you took out a loan and used you house and car as collateral the bank would take control of your house and car if you can't pay it back. It doesn't mean they want to invest in your property or anything.

Donald sold us this line to try and soften the blow.

 

[The Albanian]

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

the club was worth £15m at the time of purchase, whixh is what he paid for it.

I very much doubt the club is worth more than £10m now

 

[cbwhu]

the club was worth £15m at the time of purchase, whixh is what he paid for it.

I very much doubt the club is worth more than £10m now

I very much doubt the Americans would have lent ore than the value of the cub

 

[The Albanian]

I very much doubt the Americans would have lent ore than the value of the cub

well the club was valued at £15m when they bought it.

Since then the team has regressed, our best players have moved on, the parachute payments have stopped, income and revenue have dropped by a significant %, the academy has no decent kids left.

 

[ilovehorswill]

Its fair to say Stew has embarrassed himself on a national stage and wishes he'd never embarked on his voyage of epic fuckwittery but I do wish he'd stop talking utter bollocks.

The club isn't worth £40m. With its incumbent debt and costs once the parachute statements dry up we're talking a hell of a lot less.

His credit rating would take a walloping if he defaulted to the Americans so if it did happen he'd be better off hammering out a separate deal.

 

[Far Tibetan Mountain]

The way every statement has proved to be incorrect so far, its not beyond comprehension that they will default and the Americans take the SOL, AOL, BCH etc and Stewie is left with just the club and fuck all else

You sure the club still own the hotel?

 

[SPUFF]

You sure the club still own the hotel?

they dont, Sd often refers to it as Ellis’ place.

 

[iansun]

The Americas probably think we're more bother than were worth.

 

[SPUFF]

The Americas probably think we're more bother than were worth.

Yes us nasty fans do nothing bar abuse owners, managers n players.

 

[iansun]

Yes us nasty fans do nothing bar abuse owners, managers n players.

 

[Sandman]

The Americas probably think we're more bother than were worth.

Why can't the yanks just give an encouraging quote about their intentions? This SD and CM crap about 'ask them' and them refusing to comment makes me nervous, very nervous.

 

[wigwams]

All turned a bit shit really. Shame as it all seemed fantastic at the time. I still hang onto them taking over, mainly as it sounded bloody good!

 

[Confucius]

So the assumption in the OP is that they believe they are not wanted here. I'm beginning to sound like a broken record, but SD said he would leave if he thought SAFC fans didn't want him, over to you again Stewy lad.

 

[iansun]

Why can't the yanks just give an encouraging quote about their intentions? This SD and CM crap about 'ask them' and them refusing to comment makes me nervous, very nervous.

It's all baffling I think.

 

[Kent_Mackem]

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

But why should they be? They have no affinity to Sunderland like we do. If any fans don’t like what they are seeing with the current club owners I’m sure Mr Donald would be happy to take their call to discuss buying him out. We’re not owed success or greatness. Take off the rose tinted specs and we have a really really rubbish squad, a decent stadium and academy facilities and a relatively large fan base. We’ll never be world beaters. We have no star player assets. We’re not glamorous. The club is in the North East so it struggles to attract top players or investors. The stint in this league, and it might be a fair while yet before we leave it, may act as a wake-up call to some fans. In most of our lifetimes we’re no different to Ipswich, Shef Wed and Leeds. They’ve all been up and down the leagues too.

 

[PhilSAFC]

It is, I heard it

Unbelievable

 

[Mackem Tommy]

Its fair to say Stew has embarrassed himself on a national stage and wishes he'd never embarked on his voyage of epic fuckwittery but I do wish he'd stop talking utter bollocks.

The club isn't worth £40m. With its incumbent debt and costs once the parachute statements dry up we're talking a hell of a lot less.

His credit rating would take a walloping if he defaulted to the Americans so if it did happen he'd be better off hammering out a separate deal.

No it isn't fair to say that, it's complete speculation on your part