Micky Gray


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According to Donald EFL approval is the only thing outstanding....the deal has been done.If one of the interested parties got to Short and did a deal before the others ,then that's tough titty for the others. I can't believe anyone would agree a takeover without due diligence,and,indeed,we had it from some who seemed to have some info that due diligence was being carried out over the last few weeks,work that would be much easier as Short has cleared the debt. I don't know what Micky Gray's motives are here,but it seems he's been left at the starting gate.
Hope so, a little 'short' on detail at present.
History tells us to cautious, Michael Knighton for example.
 
Slightly different for a number of reasons, not only because they owned a substantial amount of the business to start with, but because fit and proper tests simply didn't exist at the time. I also think that comparing a deal like this to a deal which required around £700m in financing is very different. Short has paid off the debt and was not looking for a substantial amount in compensation for the club.

Of course, debt can be transferred onto the club by owners (Gillete and Hicks style) at which point it'd be less desirable, but look at Newcastle for a club witha £100m+ debt that it's owner has attached to it. It can work debt-free in effect, because the terms of the loan and finance are not restrictive. You have to understand that the SBC loan would be getting called in next July and would likely not have been able to be paid. Administration was a possibility in that event.

Working with long term debt attached to the club is ok. Working with debt that has a fixed term is the worst case scenario. If we are financing the club by loans, we started that process without an existing arrangement, hence 'debt free'.

Also, yes, I do know a little more about the people involved and again, I can only characterise it as them being willing to invest very, very large sums into the club.

I wasn't comparing your take over to that of the ManU one.
You posted "Nobody gets to buy a football team by saying 'we'll buy it if they say yes because we don't have any money and need to take out a loan on behalf of the club to make the purchase'
I was just pointing out that glazier did exactly that, not only did he borrow the money to buy the club, he secured the loan against the clubs assets meaning he bought it with putting very little money in.

If you have inside information on the consortium and you know that they do not need to borrow money to meet the terms of the sale then all well and good, Sunderland will be debt free next season.
You can't however say that on the information that has been published to the rest of us.
You have inside knowledge that tells you these people are willing to invest very, very large sums. Obviously very large sums is relative, are you talking tens of millions, hundreds of millions, billions?
 
I wasn't comparing your take over to that of the ManU one.
You posted "Nobody gets to buy a football team by saying 'we'll buy it if they say yes because we don't have any money and need to take out a loan on behalf of the club to make the purchase'
I was just pointing out that glazier did exactly that, not only did he borrow the money to buy the club, he secured the loan against the clubs assets meaning he bought it with putting very little money in.

If you have inside information on the consortium and you know that they do not need to borrow money to meet the terms of the sale then all well and good, Sunderland will be debt free next season.
You can't however say that on the information that has been published to the rest of us.
You have inside knowledge that tells you these people are willing to invest very, very large sums. Obviously very large sums is relative, are you talking tens of millions, hundreds of millions, billions?

The Glazers secured it against assets they already owned in MUFC. They owned 30% of United at that time, and secured their loans against that. (Around £250-270m) The football club were never liable for that specific debt that was used to finance PART of the acquisition. The Glazers were.

There is a huge world of difference between being able to buy a club that you already own part of, partly by securing a loan against the part that you own, and trying to take a loan out against something you don't own anything of, in order to buy it. I wish I'd not mentioned the fit and proper thing because it has just muddied that statement.
 
Just listened to that. Micky Gray making a right fool of himself.
Last week he was excited because he had some info this has now been bombed out of the water and he's bitter
The blokes making a fool of himself, embarrassing, banging on about summit he knows nowt about.
Says this offer came out of the blue but then goes on to claim he knows all the details of the deal.

We might be taken over by a consortium with dodgy finance or
We might be taken over by a group of astute wealthy businessmen or
somewhere in between

at the moment no one really knows Certainly not Micky Gray

The blokes an embarrassment, banging on about summit he knows nowt about.
 
Micky Gray is a f***ing imbecile. Hope he feels suitably embarrassed when the facts are revealed. On a personal level, it's utterly hilarious watching how the media and bookmakers work and how little actual knowledge exists. Not that I was under any illusions otherwise, but it's still funnier this time.
What is your link to the takeover?
 
Its seems that the "surprise" for fans that Gray predicted would emerge within a couple of weeks was an ownership bid for SAFC by people he knew. It is not likely to have been Donald's bid which Gray seems to have been unaware of. Gray is therefore understandably upset that the bid he favoured was not successful and has been surprised by the fact that there was a very advanced bid in competition with the one he knew of.

Over the past weeks Bain has indicated quite clear over that there were a number of parties interested in buying SAFC including as he said some "time wasters". Bain never disclosed at what particular stage any of the bids that had interested Short were at. I can understand that because you don't want limit your own options by discouraging anyone who is keen on buying so you keep your cards close to our chest.

I should imagine that Donalds group started their buying process some time before Gray's and simply won the race. Given the very well publicised financial woes of SAFC I can't imagine that anyone would consider buying the club without going through the books in great detail. Gray's people may have got through some of them before Sunday and Gray might be assuming that Donalds group skipped that process entirely . I really don't think that anyone could be so desperate to buy SAFC that they would not under take due diligence. SAFC is special to us but not so special that we would risk all we had just to buy it.

Gray must have been deflated and disappointed when his group- who right up to the last minute was probably encouraged to keep going by Short and Bain found out that another outfit had beaten them to it. That's just business. Despite Gray's "warnings" I don't see anyone having a change of mind a this stage . Mickey it best to just move on.
 
Listened to him on talk sport today. He doesn't sound very happy. Said we are being investigated by FIFA because we have signed two players and not put the payments through the books? He said one was an Inter player (so clearly Alvarez) but didn't mention the other.

Edit: Also said the Donald consortium hasn't even done due diligence so will be two months before they can take control. I'm assuming that's bollocks?
 
Its seems that the "surprise" for fans that Gray predicted would emerge within a couple of weeks was an ownership bid for SAFC by people he knew. It is not likely to have been Donald's bid which Gray seems to have been unaware of. Gray is therefore understandably upset that the bid he favoured was not successful and has been surprised by the fact that there was a very advanced bid in competition with the one he knew of.

Over the past weeks Bain has indicated quite clear over that there were a number of parties interested in buying SAFC including as he said some "time wasters". Bain never disclosed at what particular stage any of the bids that had interested Short were at. I can understand that because you don't want limit your own options by discouraging anyone who is keen on buying so you keep your cards close to our chest.

I should imagine that Donalds group started their buying process some time before Gray's and simply won the race. Given the very well publicised financial woes of SAFC I can't imagine that anyone would consider buying the club without going through the books in great detail. Gray's people may have got through some of them before Sunday and Gray might be assuming that Donalds group skipped that process entirely . I really don't think that anyone could be so desperate to buy SAFC that they would not under take due diligence. SAFC is special to us but not so special that we would risk all we had just to buy it.

Gray must have been deflated and disappointed when his group- who right up to the last minute was probably encouraged to keep going by Short and Bain found out that another outfit had beaten them to it. That's just business. Despite Gray's "warnings" I don't see anyone having a change of mind a this stage . Mickey it best to just move on.
Cheers Ellis
 
Listened to him on talk sport today. He doesn't sound very happy. Said we are being investigated by FIFA because we have signed two players and not put the payments through the books? He said one was an Inter player (so clearly Alvarez) but didn't mention the other.

Edit: Also said the Donald consortium hasn't even done due diligence so will be two months before they can take control. I'm assuming that's bollocks?
I can categorically state the Mickey Gray knows fuck all.
 
I suspect @KittenMittens knows who they are.

Some of them, yes. That's not to say things can't have changed in some small ways, but the main details about the calibre of the bid have only been reaffirmed to me since the takeover and the main thing people should know is that the people coming in have a LOT of money.

I think the actual number of investors might only be being finalised this week, but that's my interpretation of things. Only a handful of people will know exactly where the whole thing is as a process.
 
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