RAWA RAWA/Club Meeting Minutes

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  • Martin Bain confirmed that the owner Ellis Short is actively attempting to sell the Club. They have sifted through various interest and two or three credible buyers are in discussion or in a process of due diligence. I pressed Bain on this because I wasn't convinced that we've ever had it categorically stated publically that the club is for sale. It is. ...

many thanks for the update...however, a few things raise some questions.

This first part about club confirming the so called 'attempt to sell'...

We already knew that Short has been trying to sell since around 2014 (I believe this comes from an article back in 2016 which was in the Telegraph):

"…Short has been interested in selling Sunderland for several years, but the emergence of the brochure (autumn 2016), which was produced by New York-based investment bank Inner Circle Sport finally confirmed this …The brochure lists a series of selling points to try to make Sunderland sound like an attractive investment opportunity, but ignores the fact the team has battled against relegation for the last five years and makes no reference to the fact it was one of only two top-flight clubs to operate at a loss last year (2015) … The club responded to questions about the brochure with an attempt to claim it was nothing unusual… Sunderland have unofficially been up for sale for at least two years (as per November 2016), but Short has been unable to find anyone willing to match his asking price... "

Inner Circle Sports (based in New York) have previously been involved with other British clubs (Sheff Wed in 2009, Liverpool for both previous US ownership takeovers, & Crystal Palace) and were also involved in the financing of Wembley Stadium… Back in 2012 they were also involved with Everton.


Then a few Q's on the highlighted parts below...

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We got on to the future of the club. Clear as day we need a sale and it's business as usual until that happens. Good to hear Bain say its for sale. He says most of his day is now taken up going through due diligence with prospective buyers. He was positive that a sale will go through. It's essential because it was clear that we are ultimately in a state of paralysis without that happening. As the minutes say, Bain does speak to Short but not about day to day, only the sale. Otherwise Bain is completely in control and makes the kind of key decisions that someone like myself would just assume that the owner of the football club would want to be involved in, e.g. Coleman....

'we need a sale and it's business as usual until that happens'

so without any sale business as usual actually means no investment in club or players for second year running?

'He says most of his day is now taken up going through due diligence with prospective buyers'

'he says'.... but did nobody press him on that? If there is no potential buyers this then means most of his day is now taken up doing bugger all! :lol:

'As the minutes say, Bain does speak to Short but not about day to day, only the sale'

If there is no sale then this actually means they never speak, in the same way Coleman has never spoken to Short? :rolleyes:

So, it could all be waffle and things carry on as they have done since 2014?
 


many thanks for the update...however, a few things raise some questions.

This first part about club confirming the so called 'attempt to sell'...

We already knew that Short has been trying to sell since around 2014 (I believe this comes from an article back in 2016 which was in the Telegraph):

"…Short has been interested in selling Sunderland for several years, but the emergence of the brochure (autumn 2016), which was produced by New York-based investment bank Inner Circle Sport finally confirmed this …The brochure lists a series of selling points to try to make Sunderland sound like an attractive investment opportunity, but ignores the fact the team has battled against relegation for the last five years and makes no reference to the fact it was one of only two top-flight clubs to operate at a loss last year (2015) … The club responded to questions about the brochure with an attempt to claim it was nothing unusual… Sunderland have unofficially been up for sale for at least two years (as per November 2016), but Short has been unable to find anyone willing to match his asking price... "

Inner Circle Sports (based in New York) have previously been involved with other British clubs (Sheff Wed in 2009, Liverpool for both previous US ownership takeovers, & Crystal Palace) and were also involved in the financing of Wembley Stadium… Back in 2012 they were also involved with Everton.


Then a few Q's on the highlighted parts below...



'we need a sale and it's business as usual until that happens'

so without any sale business as usual actually means no investment in club or players for second year running?

'He says most of his day is now taken up going through due diligence with prospective buyers'

'he says'.... but did nobody press him on that? If there is no potential buyers this then means most of his day is now taken up doing bugger all! :lol:

'As the minutes say, Bain does speak to Short but not about day to day, only the sale'

If there is no sale then this actually means they never speak, in the same way Coleman has never spoken to Short? :rolleyes:

So, it could all be waffle and things carry on as they have done since 2014?

Re being up for sale, after the German consortium bid collapsed in the summer the club was apparently not for sale (as per reports last summer) but Short would listen to offers and that's been the understood position since. So we at least got to hear that the club is for sale and we're actively trying to sell.

As for working on due diligence, I'm not sure what you're asking me. We were told there have been and still are interested parties and that these all have to go through due diligence. This makes sense to me. Again, not sure what you're asking / saying.

'As the minutes say, Bain does speak to Short but not about day to day, only the sale'

If there is no sale then this actually means they never speak, in the same way Coleman has never spoken to Short? :rolleyes:

I mean the progress of any potential sale. e.g. due diligence etc.
 
Re being up for sale, after the German consortium bid collapsed in the summer the club was apparently not for sale (as per reports last summer) but Short would listen to offers and that's been the understood position since. So we at least got to hear that the club is for sale and we're actively trying to sell...

for that part it may be worth highlighting my post 392 on different thread... I am not convinced about the so called German consortium... I can see a link (coincidence or otherwise) to a company based in Frankfurt but that in turn raises more questions on subject of 'truth' ;)

Niall Quinn


...As for working on due diligence, I'm not sure what you're asking me. We were told there have been and still are interested parties and that these all have to go through due diligence. This makes sense to me. Again, not sure what you're asking / saying...

I find it very odd that any info on these so called interested parties is left up in the air... in one case there is talk about somebody from Eastleigh being involved or approached to join a consortium yet in same breathe they talk about due diligence with a group who can't even decide who is or who isn't in their group? ... would you allow potential buyers to sift through your books if they couldn't name all parties or members in advance? :confused:
 
At a future meeting could standing be brought up? Now we are in L1 we are allowed a standing section. That could improve the atmosphere

As far as I know, you aren't. If you already have terracing, you can keep it, but you aren't allowed to rip out pre-existing seats. People standing in seated areas still won't be allowed officially, because it's deemed a safety hazard.
 
for that part it may be worth highlighting my post 392 on different thread... I am not convinced about the so called German consortium... I can see a link (coincidence or otherwise) to a company based in Frankfurt but that in turn raises more questions on subject of 'truth' ;)

Niall Quinn




I find it very odd that any info on these so called interested parties is left up in the air... in one case there is talk about somebody from Eastleigh being involved or approached to join a consortium yet in same breathe they talk about due diligence with a group who can't even decide who is or who isn't in their group? ... would you allow potential buyers to sift through your books if they couldn't name all parties or members in advance? :confused:
I have no knowledge of any detail around the German consortium so won't speculate.

No detail was given around those who have gone through or are going through due diligence, nor would I expect it to be.
 
Clackers/clappers

Gerrin

Get the fuk in.... Maybe vuvuzelas next year too?

Thanks for posting mate.
Agree the proposed sale would be the lift we all need. The problem is I just don’t believe Anything that Bain says. He is completely untrustworthy.
And the worrying thing is regarding next season as it looks like if the sale doesn't happen then we are in dire straits as Short will, at best, only fund the day to day running of the club. Which means any chance of investing in the playing staff to get us promoted looks highly unlikely.
It’s going to be a very long, hard summer.

I believe this that he said:

"DR (RAWA) stated that he had a number of other questions from supporters that were largely around the theme of lessons learned from this season and last. MB (CEO) replied that if a sale is not completed he would speak with Ellis Short to look at the investment needed to compete next season but conceded that the owner might only commit to covering any shortfall in the operating costs."
So nothing but buttons from Ellis to assemble a squad to compete (if that).

If the sale of the club is smoke and mirrors and/or the offers aren't anything close to what ellis will accept, another ugly season looks to be in store...
 
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Get the fuk in.... Maybe vuvuzelas next year too?



I believe this that he said:

"DR (RAWA) stated that he had a number of other questions from supporters that were largely around the theme of lessons learned from this season and last. MB (CEO) replied that if a sale is not completed he would speak with Ellis Short to look at the investment needed to compete next season but conceded that the owner might only commit to covering any shortfall in the operating costs."
So nothing but buttons from Ellis to assemble a squad to compete (if that).

If the sale of the club is smoke and mirrors and/or the offers aren't anything close to what ellis will accept, another ugly season looks to be in store...

Don't understand why Ellis would refuse to back the team in League 1? It's not like he needs to spend millions like in the Premier League, we just need basic League One funding to let us bring in a few players that can actually do a job.
 
Don't understand why Ellis would refuse to back the team in League 1? It's not like he needs to spend millions like in the Premier League, we just need basic League One funding to let us bring in a few players that can actually do a job.

The usual L1 budget is 0. I think he'll be able to manage that.
 
Don't understand why Ellis would refuse to back the team in League 1? It's not like he needs to spend millions like in the Premier League, we just need basic League One funding to let us bring in a few players that can actually do a job.
We need approximately 12-15 players.....if all the deadwood and deadbeats are got rid of.
 
The usual L1 budget is 0. I think he'll be able to manage that.

Seriously, buttons should get the big bruises needed in...

That said, the fact Bains would tell supporters he expects Ellis to not approve any budget for him to work with should be very worrying.

That's not something he would say lightly in passing or in jest.
 
"…Short has been interested in selling Sunderland for several years, but the emergence of the brochure (autumn 2016), which was produced by New York-based investment bank Inner Circle Sport finally confirmed this …The brochure lists a series of selling points to try to make Sunderland sound like an attractive investment opportunity, but ignores the fact the team has battled against relegation for the last five years and makes no reference to the fact it was one of only two top-flight clubs to operate at a loss last year (2015) … The club responded to questions about the brochure with an attempt to claim it was nothing unusual… Sunderland have unofficially been up for sale for at least two years (as per November 2016), but Short has been unable to find anyone willing to match his asking price... "

Inner Circle Sports (based in New York) have previously been involved with other British clubs (Sheff Wed in 2009, Liverpool for both previous US ownership takeovers, & Crystal Palace) and were also involved in the financing of Wembley Stadium… Back in 2012 they were also involved with Everton.


Then a few Q's on the highlighted parts below...



'we need a sale and it's business as usual until that happens'

so without any sale business as usual actually means no investment in club or players for second year running?

'He says most of his day is now taken up going through due diligence with prospective buyers'

'he says'.... but did nobody press him on that? If there is no potential buyers this then means most of his day is now taken up doing bugger all! :lol:

'As the minutes say, Bain does speak to Short but not about day to day, only the sale'

If there is no sale then this actually means they never speak, in the same way Coleman has never spoken to Short? :rolleyes:

So, it could all be waffle and things carry on as they have done since 2014?

Inner circle sports?

Bet the bruchure was alalalala long.:oops:
 
Apart from simply confirming that the club is for sale that was a waste of time.
We have a hundred problems, the club is going down the drain and were talking about picking strips, the location of away fans, the fan zone, an old man in a lift and using clackers.....
i despair.
Then you completely don't get what the RAWA is for. Do you expect the club to ask advice on how to progress a sale or something?!

If the RAWA can influence what the kit looks like, where fans are situated, attitude or stewards, these are decent things and realistic.

What would you realistically want?
 
Didn't notice anything about Ifollow for next season. Is there anything happening with this?

Possibly. I had a mail a week or two saying that, because of changes being made over the summer, my SAFSee account would be closed, and I'd need to create a new one. So they're clearly doing something with it.
 

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