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Significant investment by FPP has been made

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kildaremackem said:
thanks for that. if they clear the accumulated deficit in etained earnings..does that mean, at least theoritcally, that dividends can be paid in future?

yes they did..but they spent a lot of it on things that make them sustainable..not just o players for the first team..but on improving commercial operations to bring money in..scotuing etc..which is what safcare doing..
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Yes but come on. You have to realise where they were starting from. They didn't become Champions of England because they suddenly got better at flogging shirts and recruiting. Their brand is built on the success which was brought by investment in the very thing that matters first and foremost at any football club in the land - the team. This isn't some chicken and egg conundrum.
 

Botchie said:
Can you explain that in simpleton terms marra. Like you have 10 mars bars, give 2 away and someone else gives you 5 drifters which are worth more than a mars bar because they have two fingers. So you now have 18 mars bars?
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The club now has what's called an authorised share capital of 100,000,000 of 1p each (value thus £10m). They have allotted 90,000,000 of these (presumable to the existing shareholder, which is Madrox, to replace the shares previously in issue). This leaves 10,000,000 shares which could be allotted (and paid for) in future. It's fairly standard practice to have more shares authorised than in issue, because it makes it easier to make a small issue later, without the need for additional shareholder resolutions, etc.
 
darius said:
Do you think this is a loan? If not what are they getting for their money if it's not a share in the club?
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GOM can answer better of course-but the talk is its a convertible loan..so they can turn it into shares in the future..if they ant.

the loan is to madrox not safc..ie so not a debt owed by safc..and secured aginst the shares in Safc donald owns...so if he doesnt repay the loan.,they take ownership of the club from him..
 
chriswallace85 said:
Yes but come on. You have to realise where they were starting from. They didn't become Champions of England because they suddenly got better at flogging shirts and recruiting. Their brand is built on the success which was brought by investment in the very thing that matters first and foremost at any football club in the land - the team. This isn't some chicken and egg conundrum.
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thats right-they spent money on the team-but in a sustainable wzy-same as oru guys-spent money on the team-more than any otherteam in the histry of our league-but want to do it sustianbly..your acting as though they havent spent on the team..and just talked of sustianble-my point is they have spent onhe team..vast sums
 
partridge amongst the pig said:
The more I read of him the more I'm convinced he's a WUM. Either that or his happy pills need taking down a dose or six.
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You think I'm a WUM for not understanding why people are getting angry on a day that has seen huge investment brought in to improve the club?

Aye, definitely need to drop my dosage like. A few on here need to start taking it, by the look of this thread.
 
kildaremackem said:
nbut the words werent hollwo..we did have the biggest budget in the league..we did spend more tahan all other teams and have a wage bill higher than all othe teams..it wasnt hollow at all..
yes the spending was baad..and par of the reason it was bad was because stewrat bragged about the money we had..so clubs put the prices up when selling us a player..thats his fault and no one elses..
but we did. and do have the bigegst budget in the league, whcih is what he pwomiesd.
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So much for this piss taking party stopping there then eh.
fyl2u said:
You think I'm a WUM for not understanding why people are getting angry on a day that has seen huge investment brought in to improve the club?

Aye, definitely need to drop my dosage like. A few on here need to start taking it, by the look of this thread.
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:lol: "Huge".
 
kingkeane said:
just trying to make sense of what they are gainig from this. why are they loaning money.
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This filing today has nothing to do with the money being put in. It's simply an exercise to tidy up the balance sheet. I could see it having been instigated by FPP though, as it would make life simpler for them from a tax planning angle if they were to buy the club subsequently.
 
fyl2u said:
You think I'm a WUM for not understanding why people are getting angry on a day that has seen huge investment brought in to improve the club?

Aye, definitely need to drop my dosage like. A few on here need to start taking it, by the look of this thread.
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Agreed - I just don't get it. Okay, Dell has not announced that he's donating his fortune to SAFC but it's a very healthy and positive start. Let's support the club through the next step.
 
Hmm, reality simply doesn't meet with some peoples agenda. They'd rather we had a Bobby Ewing moment, where we wake up, the recent story-line is totally wiped from history and we are top of the premier league, top of our group in the champions league, we're hoovering up every domestic cup and we have a bottomless pit of dosh to spew on world-class players.
 
chriswallace85 said:
So much for this piss taking party stopping there then eh.

:lol: "Huge".
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If it is the bare minimum of £10m, that is a huge investment for a League 1 club's scouting, youth setup and infrastructure.

Why are you still desperately scraping the barrel for morsels to leap upon? Why can't you explain why you're so enraged about improvements happening at SAFC?
 
flusheding said:
Was it only me that was at the play off final last season where we were 30 minutes away from being promoted? Things didn't go our way but people are talking like we're in the relegation zone. We're 3 points off the play off places and 8 points from 1st in the league with 32 games left and 96 points to play for.
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Was it just me or did we not achieve the goal of promotion last season, regardless of circumstances?

We've got 32 games left but to stand a realistic chance of getting automatic promotion we need to win around 23 of those.

Of course we're not in the relegation zone but to suggest things are going according to plan is a bit silly IMO. I really don't think the plan was scrapping about in mid table having just sacked the bloke put in place to get us out of this mess. That's just a guess, mind.
 
The Sheepfolds End said:
No. I didn’t take it to mean one thing. It was absolutely clear how it was intended. Donald was discussing in the context of us being a powerful entity, not in context of us having a big budget that was a pain in the arse to manage. It was to engage and excite supporters at an early stage. It’s highly, highly disingenuous to say otherwise.

And if they since clarified it, that encapsulates exactly what I mean about Donald anyway. Something is said, then there’s a climbdown (we paid Ellis £40m for the club, also had to be downgraded and re-explained).
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In short - they're full of shit and take us for fools. "Assholes and parasites". That's what they think of us.
 
partridge amongst the pig said:
Was it just me or did we not achieve the goal of promotion last season, regardless of circumstances?

We've got 32 games left but to stand a realistic chance of getting automatic promotion we need to win around 23 of those.

Of course we're not in the relegation zone but to suggest things are going according to plan is a bit silly IMO. I really don't think the plan was scrapping about in mid table having just sacked the bloke put in place to get us out of this mess. That's just a guess, mind.
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You live in a very black and white world don't you.
 
Just for completeness, there is a mirror filing for SAFC for a new capital base of £10m, and £9m allotted. The only difference is that the shares in SAFC are £1 each, not 1p. The shares will have been allotted to Sunderland Ltd.
 
Grumpy Old Man said:
Nothing to see there. It's just a statement of what the share structure looks like after the reduction. There are now 90,000,000 shares of 1p each allotted (£900,000), from an authorised capital of £1,000,000 made up of 100,000,0000 1p shares. These will, presumably, have been allotted to Madrox in exchange for the old shares.
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You are right - I just looked at the headline which said the capital had changed from £1,000,000 to £10,000,000 but doing the maths, the headline must be wrong.
 
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