"investment" confirmed as a loan

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luvulongtime said:
surely if they had 10 mil in their own resources they'd use it instead of taking a loan out, risk losing the club and save on the 'vig' on the loan
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Especially when we were in the self proclaimed most envious position in the football league
 
The Cabbage said:
It’s anything but fine. Donald has had to renege on his statement of delivering Safc as a debt free club because he simply lacks the knowledge and ability to get Safc out of league one under his own steam. We are now in debt to an organisation who we think have good intentions - but don’t know. Hopefully this precipitates him leaving the club but there are no guarantees.
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Madrox has the debt not SAFC, there is a difference.
 
Zak's Dad said:
:lol:

So do I mate!
I'm not sure how long I can stomach this league with the players we have!
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I must admit, I wasn't so upset at the end of last season, as the club had made huge changes from the Fiasco that we were left in at the end of ES' reign, but this season, I have waited for an upturn, but the opposite seems to be happening. When SD and CM moved Catts on in the way they did, it did set alarm bells ringing, but I thought it was just me being negative and I gave them the benefit of the doubt. However things appear to be on a terminal slide and I am getting seriously concerned. CM can't even put a decent spin on anything now. There don't appear to be any positives. It's admirable the they've balanced the books, but at what cost?! The future is not at all looking positive and the fact that SD will not even go to games now would appear to be an untennable turn of events. The January window is going to be too little too late to turn this around I fear.😢
 
Carry on regardless said:
It was reported not long after he took over and he said himself on one of the early podcasts he was looking at the option of a loan. It's no coincidence that this is the same amount that was reported then. I seriously don't see why people are worrying about this.
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It isn’t the loan that particularly concerns me.

It’s the consistent line that we are in a brilliant financial position, best in the EFL, were on the brink of turning a profit, the investment is something private between Charlie, Stewart, Juan and FPP not Sunderland. And yet despite all these bold claims, here we are with a £9m loan to pay for club running costs and with a charge placed upon the clubs infrastructural assets.

If the loan results in the current owners departing and people with both the financial clout and the willingness to plan for a proper future coming in then its the best news in a long while. However, if the current owners remain in position and continue to spin us what frankly amounts to a torrent of bullshit then it’s concerning
 
Morse said:
This.

It just doesn’t make any sense whatsoever for FPP to screw us over. Even if there were a few million profit in it for them, they’re billionaires. They’re not going to destroy a football club they’ve become attached to for what would be loose change. They may well be hard nosed businessman, but they’re not fools and the negative exposure they’d get would damage their credibility. They know what SAFC means to a great many people.

They want to run it and make it successful, imo. They’re outsmarting SD and CM and will end up getting the club at a price that suits them, not the current owners.

SD and CM are getting stick, and deservedly so, but it’s a bit daft turning on FPP before they even own us!
I think they’re our only hope right now. Unless we have a change of ownership, I can see us in a relegation battle next season...
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Mostly agree, not sure SD & co deserve any stick
 
Perhaps a slight exaggeration, but SAFC (we) are at no risk whatsoever... this loan between Madrox and FPP is a mechanism to resolve the difference in valuation between the two parties.

The only downside is if FPP get scared away from owning SAFC in the event of default.

25K-30K attendance in a mediocre League One campaign should be solid enough to make the case for a takeover.
 
This looks a very smart move by FPP. The loan of £9 million, means they could get a club valued at £15 million (when JS bought in) at a discount. Firmly puts the onus on SD and CM to get this right or the three including JS, will take a £6 million loss plus whatever has gone from the £9 million and any additional they've had to put into the club themselves.
 
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Grumpy Old Man said:
It's $12m, roughly £9m at current exchange rates.
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Yeah, I know, that's what I was saying - that they were using USD (12) to qualify it as eight figures (10 or over) when it was actually 9 sterling. But as you say, the amount was mainly described as around eight figures - only some outlets misreported it or rounded it up
 
Secret Visage said:
This looks a very smart move by FPP. The loan of £9 million, means they could get a club valued at £15 million (when JS bought in) at a discount. Firmly puts the onus on SD and CM to get this right or the three including JS, will take a £6 million loss plus whatever has gone from the £9 million and any additional they've had to put into the club themselves.
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This looks like a huge clutching of straws.
 
Still distrustful of the board but less so of Donald than Methven. I'm not saying he's got everything right, which he clearly hasn't, but I think he does at least try and be open and transparent as much as he can be and I do think he does, ultimately want to do good by the club whilst also making himself a profit and who can blame him. I don't trust CM one little bit and I can't see any reason why he would want to deliberately lie/mislead supporters. He needs to keep his gob shot and let SD deal with all the media/fan engagement stuff despite CM being the so called PR expert.
 
Well, I am so much happier and far more confident about promotion than 24 hours ago.

With all those scouts out there in Europe, we are going to have a cracking JAN window and blast our way in to the top 2.

And Richard Hill, what do you want when I see you in a bar ? You have saved the club apparently so a pint is the least you deserve.

HMBB's.
 
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