SAFC response to latest stories


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He was very quick to pick up on it without checking the facts.
You don't believe that statement?! :lol:

The original article was written by Matt Lawton who is the chief sports writer for The Times and Martin Hardy who is a respected football journalist.

The Athletic are writing an article about the club that will reveal more.
 
I doubt they are lying as the numbers will flush through in the accounts in the fullness of time, but I'm not that happy with the 'confidentiality' in place regarding investors that we do and do not know about - and they aren't telling. Surely anyone with any kind of hold or control over Sunderland should have to be declared - corporate finance is best left to GOM to explain and I'm sure they have done nothing illegal, but it seems murky to me.

Ultimately, if they have the money to invest as and when necessary as they say, then things like the academy should be being properly resources for example.

The only disclosure required is the identification of "persons with significant control", that is, individuals or companies who between them control 75% or more of that company's shares. In the case of Madrox, that is the three shareholders (none hold more than 75%, but any two do). In the case of Sunderland Ltd, that is Madrox (holding 100%). In the case of SAFC Ltd, that is Sunderland (holding 100%).
 
I'm not comfortable with the purchase of the club for £39m being part funded to the tune of £25m parachute money that was due - this may have been made aware at the time, I don't know and I didn't realize until now, but it has meant Madrox can feed the money back into the club as and when it suits them - it's the club's money not Madrox's.
would you be comfortable if the club was purchased for £14m and £25m went to paying off debt cos that’s all that happened really. Dunno why they had to lie about it at the start like. Saying they’d paid £40m for the club, when they hadn’t.
 
And they are paying that money back, satori has also put millions into the club according to the clubs statement. Not sure why this place is so obsessed about finances of a football club. Especially whhen no-one on here has a clue exactly what is happening

What a daft comment.
Yes, many fans may not understand, or have an interest, in club finances, (I know I don’t, really), but unfortunately it’s important to keep up on it in modern day football. Especially with more and more clubs going into administration, getting into financial holes, or even out of existence.
 
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