"investment" confirmed as a loan



Father Jack Hackett said:
Basically, they'll own the club if payments aren't made and, if they have no interest in it can probably flatten the SOL and build a massive B&M Bargains.
May be a better way to spend a Saturday afternoon, actually.
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For all I know that could be the case. I am the only one with the bottle to admit I never went to business school. The problem with society is they all like to pretend they are something that is better than what they are. We have a society of know-it-all's who only like to talk like they are experts in everything. I know I know nothing about everything and happily admit it.

When I first heard about this loan or whatever it is called my first thoughts turned to the 'setting against' issue. All 'assets' like the stadium are against this loan. If those two useless wankers Meths and Donald Duck who have done jack since they arrived yet again fail to do something and in this case pay back the loan then we could lose the lot and be homeless. If they are only interested in investing in people that leaves them without people to invest in.
 
Horace Cope said:
Yep. Said he was in the hole to the tune of over 20 million but he could've walked away after the play off final up 30 million which would mean someone had bid in the region of 60 million for a league one club.

He said he didn't want to walk away and if he wanted him and Juan could've covered the 10 million but it was better to loan it
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That's what I don't understand? He invested £20 which later said he was owed. He could have walked away £30m which means we had an offer of £50m. If Juan (or Wan as he calls him) or SD could cover the loan why not just invest it themselves or just pay it back now? Also, if it's standard practice for banks/financial institutions to look something as security for a loan how is this deal different? If I take out a big loan out with a bank they'd ask for my house as security. If I don't pay it back or miss payments they take the house. How can you call it an investment if it's standard practice? To me that sounds like a standard loan.

His story has more holes than a block of Swiss cheese.
 
The Sheepfolds End said:
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
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The charge is placed on the assets of Maddox, not the clubs assets. Yes the assets of Madrox appear to be just shares in the club but that isn't the same as a charge on the clubs assets.

They would need to take over the club then sell the assets to Madrox for the club no longer to have control over the assets. Yes they could do this but it would seem to be a convoluted way to get hold of some real estate in Sunderland...
 
Black Cat Gypsy said:
That's what I don't understand? He invested £20 which later said he was owed. He could have walked away £30m which means we had an offer of £50m. If Juan (or Wan as he calls him) or SD could cover the loan why not just invest it themselves or just pay it back now? Also, if it's standard practice for banks/financial institutions to look something as security for a loan how is this deal different? If I take out a big loan out with a bank they'd ask for my house as security. If I don't pay it back or miss payments they take the house. How can you call it an investment if it's standard practice? To me that sounds like a standard loan.

His story has more holes than a block of Swiss cheese.
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They've probably sold the academy already - slimeballs .
 
Scotchegg
Well-known member
Joined14 Dec 2017Messages2,885
Yesterday at 16:46
Gary Baldi said:
They can keep Methven as far I am concerned! :p
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Loved the comments telling Salmon Pants to fook off!!!

The guy bullshitted his way through this forum, and has done the same at Sunderland! Their get rich quick scheme has backfired and it won't be long before Sunderland have new owners. Hopefully the next lot will be just as incompetent and Sunderland will stay down for a few more years yet!
 
All we know is that we've negotiated a loan.
Other than that none of us can really comment, because we don't know the ultimate intentions of the loanee and the lender.
Everything else is just pure conjecture.
 
Yet more from a poster going by the name Scotchegg regarding our owners

Scotchegg
Well-known member
Joined14 Dec 2017Messages2,885
Yesterday at 23:05
SD has clearly been a good business man, and those who know him suggest that he's a very decent man. But he is an awful football chairman. He pumped £10m into Eastleigh without every getting any real stability, went through loads of managers and established a retirement home for all ex-Oxford players.

Sunderland looked like a great opportunity to double his money whilst massively raising his profile as a football league chairman. He would have been in the same boat as the vast majority of Sunderland fans who expected to walk the league. He said all the right things to stop the P**s taking party, but only managed to get rid of the high earners by paying them off or accepting bargain basement fees for them. He missed out on many high profile players, and paid over the odds for others. Will Grigg was a panic buy that was expected to guarantee promotion, but they choked time after time.

And it was clear from the day that automatic promotion was missed that an escape plan was needed. Takeover/investment deals were apparently in place to be completed at the Playoff finals, then June, July and monthly since then. SD was telling everyone that they were the best run club in the country, finances were amazing, they could run Sunderland in league 1 forever etc. But then they basically mortgage the whole club against a £9m loan, despite apparently having more than enough cash stuffed behind the sofas of SD, Charlie and Sartori to cover this in a heartbeat. And what is this money for? Apparently changing the speakers in the stadium and fixing a lift at the training ground, oh, and finding a couple of scouts in Scandinavia!

Is it any wonder that Sunderland fans are pissed? What was Charlie promising this season? 100 points? And they're a 3rd of the way through the season and 8 points short of the automatic places and a tricky replay away from being out of all cup competitions.
However you look at it, SD's tenure of Sunderland has been an absolute disaster and the experience at Sunderland and here have been chalk and cheese. Tiger has his issues, but I'd take him over SD, and Zaki over Charlie all day long. Christ, I'd rather have Olly the Ox running things that Salmon Pant man!!!!
 
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ned_werby said:
....but are quite happy to paint it in the worst possible light in order to have a pop at the ownership...........
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It's all possibilities, given the current experience I am more likely to fear the potential downside than speculate about great it is. ....... ......
 
Black Cat Gypsy said:
That's what I don't understand? He invested £20 which later said he was owed. He could have walked away £30m which means we had an offer of £50m. If Juan (or Wan as he calls him) or SD could cover the loan why not just invest it themselves or just pay it back now? Also, if it's standard practice for banks/financial institutions to look something as security for a loan how is this deal different? If I take out a big loan out with a bank they'd ask for my house as security. If I don't pay it back or miss payments they take the house. How can you call it an investment if it's standard practice? To me that sounds like a standard loan.

His story has more holes than a block of Swiss cheese.
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That's what stuck in my throat. He kept talking about how he was owed 20 million. I thought you're owed fuck all mate. If you buy something you buy it you don't get it for free
 
Mayflower said:
now we can understand why the Oxford fans detest the man.
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Unbelievable over reactions- we aren't all like this Donald
Mayflower said:
Scotchegg
Well-known member
Joined14 Dec 2017Messages2,885
Yesterday at 16:46

Loved the comments telling Salmon Pants to fook off!!!

The guy bullshitted his way through this forum, and has done the same at Sunderland! Their get rich quick scheme has backfired and it won't be long before Sunderland have new owners. Hopefully the next lot will be just as incompetent and Sunderland will stay down for a few more years yet!
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What's wrong with wanting to get rich quick?
 
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admwil said:
Sorry. Wasn’t intended that way but this place is highly frustrating at the moment.

Have a listen to SD on total sport. The loan is for Madrox. If they don’t pay it back SD, JS and CM lose all of their money and the club. FPP own the club. But would never happen as this is a strategic loan. SD and JS can cover the loan easily it’s a small amount (to them). FPP don’t want to run the club, but looks like they do see a big investment opportunity in and the area.
It’s positive as far as I can see. Now we need to get it right on the pitch.
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Exactly mate was very positive IMO top marks to Prydey as well I thought they wouldn't ask many questions but he didn't hold back.
 

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