Letter to FFP



Grumpy Old Man said:
That's part of due diligence, and wouldn't normally be allowed until you've got heads of agreement and NDA's in place. Until then, you're restricted to what's in the public domain.


Here you go. 2 minutes googling Persons with significant control
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You know as well as Ii, don't have to have a formally HoT to inspect the books. The due diligence goes, or should go much deeper forensically into the books that would go without saying unless your Mike Ashley... There will be an agenda by Michael Gray ,as with any other potential buyer, in his comments about not seeing the accounts. As you say more than likely because HoT have not been agreed. That, If Donald and Gray are serious about a deal the viewing of accounts should not have stood in the way. You do not enter into discussions unless there is some chance of a sale.
 
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wigwams said:
What does active proposal to strike off mean under activities grumpy?
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It mean they're closing the UK based arm. It's the American company that holds the loan. The UK company was formed with the intention it would buy the share capital of Sunderland Ltd. If they bought now, it would be by buying Madrox from the current owners, and there are several clauses in the loan agreement designed to make that easier.
molthemackem said:
You know as well as Ii, don't have to have a formally HoT to inspect the books. The due diligence goes, or should go much deeper forensically into the books that would go without saying unless your Mike Ashley... There will be an agenda by Michael Gray ,as with any other potential buyer, in his comments about not seeing the accounts. As you say more than likely because HoT have not been agreed. That, If Donald and Gray are serious about a deal the viewing of accounts should not have stood in the way. You do not enter into discussions unless there is some chance of a sale.
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Unless, of course, you have reason to believe the bid is neither serious nor credible. I'm not saying that Gray's effort wasn't, but trying to play devil's advocate. You'd not allow access to a bidder you were never going to sell to.
 
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Grumpy Old Man said:
It mean they're closing the UK based arm. It's the American company that holds the loan. The UK company was formed with the intention it would buy the share capital of Sunderland Ltd. If they bought now, it would be by buying Madrox from the current owners, and there are several clauses in the loan agreement designed to make that easier.


Unless, of course, you have reason to believe the bid is neither serious nor credible. I'm not saying that Gray's effort wasn't, but trying to play devil's advocate. You'd not allow access to a bidder you were never going to sell to.
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Armstrong was a similar situation.. Just remember it was Campbell at Wembley who the owners were in discussions with and he had fuck all.
 
6inarow said:
@Ghandi Floss As there doesn't seem to be any response to the open letter to date, could RAWA investigate into any way of getting any statement of intent from the Americans?
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While it may be tricky to get an asnwer I really think its important to get an answer somewhere along the line. It is looking more and more likely a straight forward loan whatever the hell happened to the takeover is anyones guess. The loan is a bit of a noose around the clubs neck as while FPP are around it still gives hope to people but on the other hand may be putting people off buying the club as it adds an additional layer of people to deal with when negotiating. We really need clarity as a fan group to know where we stand.
 
bootle mackem said:
While it may be tricky to get an asnwer I really think its important to get an answer somewhere along the line. It is looking more and more likely a straight forward loan whatever the hell happened to the takeover is anyones guess. The loan is a bit of a noose around the clubs neck as while FPP are around it still gives hope to people but on the other hand may be putting people off buying the club as it adds an additional layer of people to deal with when negotiating. We really need clarity as a fan group to know where we stand.
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I doubt RAWA would be able to get anything official from them, but I do agree it would be highly beneficial if they could comment even just to stop the hope and speculation. That doesn't seem to be how they operate though, so I doubt any group would be able to get comment out of them. I think they'll have been made aware of the open letter in the Echo, they just seem happy stay in the shadows. Some would see it as fiddling whilst Rome burns though!
 
The Beautiful Game said:
People need to forget about FFP like. It’s not going to happen.
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Exactly, they are only in it to get assets on the cheap when the owners cant afford to pay back their loan. since Donald & co clearly cant afford to repay the 10m would they have use the academy land to settle the debt? Which is probably why they are running the academy into the ground. They are getting as much out of the academy as possible before shutting it down and handing over the land to FFP to pay off the loan. We'll be training on a school field in Pennywell soon.
 

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