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SAFC Takeover Latest

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The Cabbage said:
It would certainly be taken into account on sale. It’s the first thing a prospective owner would check - money owed to and from the club. I recognise what Methven said but we also need to acknowledge that Donald said we’d already paid some of that back. Whether all will come back in fullness of time is another thing.
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Is it not just the club paying a debt? Anything else is just SD saying he'll give the club the money back in good faith, nothing is actually owed legally and therefore not relevant to the price of the club?
 

The Cabbage said:
It would certainly be taken into account on sale. It’s the first thing a prospective owner would check - money owed to and from the club. I recognise what Methven said but we also need to acknowledge that Donald said we’d already paid some of that back. Whether all will come back in fullness of time is another thing.
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I don’t think it would to be honest. The club paid off some debt last year and that’s the end of it as far as the accounts are concerned. It’s not owed back to the club despite SD saying he’d put it back in.
 
Coeus said:
Is it not just the club paying a debt? Anything else is just SD saying he'll give the club the money back in good faith, nothing is actually owed legally and therefore not relevant to the price of the club?
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People with more knowledge than me will frame it better but effectively one of Donald’s businesses Madrox owes another an 8 figure fee. There’s no legal obligation for him to pay it back other than he’s said he would eventually. Either the new owners buy Madrox from Donald or they buy Safc from Madrox. One way or another, a sale clears it up quickly.
 
Coeus said:
This is what I've been trying to say badly for a while. There was no reason for them to say that the parachute payments were not for ES when they took over, only for CM to say they were always intended to be used in that manner after the fact.

For a regime built on openness towards the fans, what we are told is all over the place.
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To be fair the parachute payments weren’t for Ellis they were for SBC but they could easily have stated that early on and not had the hassle and confusion it caused. It just looks shady.
 
OzzyMac said:
Good luck with that.

The way i see it the takeover rumour started and snippets came out most of which to date have proved factual.

The only part which appears to have caused the angst amongst some of our (how should i put it) "gloomier posters" is that the dates suggested for completion haven't been correct. Might i add that it may well have been completed but just not announced due to other external influences such as the hotel ownership and the severance packages of some surplus staff members.

A rough timeline and please feel free to correct me as it's been going on for a while.

Julio mentioned people associated/close to Dell - Proven true
DaveyRed posted the tweet from Dubai - Proven true
Reiver posted he'd seen a message from one of the buyers friend - Proven true as he's shown it to other trusted posters
Reiver mentioned flight into Ponteland - Potential new owners seen at match
FPP registered a company both in the UK and the US - points towards it being happening
SD said at talk in that it's more than 50/50 - points to it happening
SD dismisse tweets stating that it was off

So in summary most of what has been posted by ITK's has been true other than anyone knowing the announcement date which every man and his dog have said is just a guess.

Why do some people feel the need to pick up the only thing that hasn't occurred and use that as their weapon.

Oh, the monorail will happen
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It’s happening
 
The Beautiful Game said:
To be fair the parachute payments weren’t for Ellis they were for SBC but they could easily have stated that early on and not had the hassle and confusion it caused. It just looks shady.
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They did go to Ellis though - SBC were paid off by end of August but we kept paying to Ellis until late April.

Ultimately it was a way of Ellis recouping some money while still leaving the club free of external debt.

Edit: that's not to say it wasn't the best possible option. But it just looks bad that they said they'd spent £40m on the club when they didn't and haven't. Would hope that any future sale is not hampered by them holding out for above £40m.
 
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JimmyQuinn said:
They did go to Ellis though - SBC were paid off by end of August but we kept paying to Ellis until late April.

Ultimately it was a way of Ellis recouping some money while still leaving the club free of external debt.

Edit: that's not to say it wasn't the best possible option. But it just looks bad that they said they'd spent £40m on the club when they didn't and haven't. Would hope that any future sale is not hampered by them holding out for above £40m.
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The parachute payments were use by don to guarantee that short would get the final payment of 15 million.Donald managed to pay off all the debt without using the parachute payments.i have no idea where this 15 million is but as others have said Donald intimated he would be paying it back but imho is being a tad shady about it !
 
Coeus said:
What is it that I am not beliving, twice I've heard that now. Despite the fact I have constantley said I believe it is likely to go through?

To complain of bickering whilst bickering is silly in my opinion. Not sure what more I can add.
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Well, you called it a parody, I call you argumentative for the sake of it.
Maybes it’s best you pop off and have a cup of tea as I literally can’t be arsed with you.
 
JimmyQuinn said:
They did go to Ellis though - SBC were paid off by end of August but we kept paying to Ellis until late April.

Ultimately it was a way of Ellis recouping some money while still leaving the club free of external debt.

Edit: that's not to say it wasn't the best possible option. But it just looks bad that they said they'd spent £40m on the club when they didn't and haven't. Would hope that any future sale is not hampered by them holding out for above £40m.
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I must be misremembering it. I thought Ellis was intending to use the parachute payments to pay the remaining SBC bill if he was still owner but when he sold it he asserted that Donald and methven do the same when they came in.
 
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