summary of what SD said last night


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Richard Hill saved the club.

If the loan isn’t repaid then the Americans take over. Says he can’t say what the date for repayment is.

Many, many sly digs at the fans.

Parkinson has apparently been told to get Grigg scoring goals again.

I didn’t hear the sly digs at the fans. Much the opposite... he praised the supporters for their incredible support on several occasions
 
The most reasoned approach is to just wait and see what happens and believe fuck all.

We are a decent prospect in a dogshit league, underperforming and the natives are restless. Something will happen, we don't need to be briefed (badly) up front, this is what happens when too much is said and then expected.
 
He's not directly involved in recruitment - sure Donald said that last night.

He has a big say in transfers if this quote from Coton is true:

As Coton puts it: “Richard Hill is very approachable. It’s my job to target the players and bring them to Richard and he will see if they fit in with the financial elements.”
Hill will be the man in charge of Donald’s money. He will negotiate the fee and then the wage with the player.
 
He has a big say in transfers if this quote from Coton is true:

As Coton puts it: “Richard Hill is very approachable. It’s my job to target the players and bring them to Richard and he will see if they fit in with the financial elements.”
Hill will be the man in charge of Donald’s money. He will negotiate the fee and then the wage with the player.
I think SD was alluding to the negotiations on some of the high paid players who left the club. It’s conceivable that he did a good job there and made some significant savings.
That doesn’t mean he is suitable going forward.
 
The club owed Ellis Short £100m. He wanted to sell the club to Donald, but have the club then owe Donald £100m
Donald said he didn't want that "debt" to be owed to him, so Ellis wiped it off.
So am I right in thinking that effectively the new owners could've taken £100m out of the club to clear that debt if we became, for example a successful premier league club over a sustained period of time. And if anyone else wanted to invest in the club at any point, they'd have to take some responsibility for the debt to Madrox?
 
I never heard any sly digs,

He said at one point that the Americans would take full control of he fails/doesn’t pay back the loan, then he said “I think that’s what the fans would want anyway”

It was more tongue in cheek, hardly owt to get excited over.
 
Just listened again and I think he’s being genuine and felt some humanity for him so respect - especially owning the mistakes last January. The issue for me is this though. He has ballsed up the football side of the club and got it wrong and it seems he knows it. As it stands the same people are making the decisions and what I really wanted with the takeover was someone with a better track record running the football side of things. Maybe he will look at this now he has some investment
 
He explained it very clearly. Ellis wanted the money up front they used the parachute payments to pay £25m and he would put it back in over the next four season, can’t remember the exact split by year.
So they did use the parachute payment to buy the club then!
Aye, some of the more financially astute in the RAWA have got some working out to do before next week.
So if Stewie and Meths did indeed use the £15m parachute payment to enable them to buy the club and pay Short off, then surely one question that needs to be asked is " When is this money going to be repaid back to the club" and does this "Loan" from FPP override the repayment of the fifteen million....All these two are doing is straightforward shifting money about for peter to pay paul..For me, after my experience in running million pound companies, they are simply manipulating the system which I guarantee will end in disaster.
 
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So they did use the parachute payment to buy the club then!

So if Stewie and Meths did indeed use the £15m parachute payment to enable them to buy the club and pay Short off, then surely one question that needs to be asked is " When is this money going to be repaid back to the club" and does this "Loan" from FPP override the repayment of the fifteen million....All these two are doing is straightforward shifting money about for peter to pay paul..For me, after my experience in running million pound companies, they are simply manipulating the system which I guarantee will end in disaster.
Yes he said last night that the business plan was to repay it over 4 years basically, I can’t recall the exact split.
Would be interested to know if that’s happened or not.
It does also raise the question of what we need a loan for if we are getting this years parachute payments and the £5m SD is paying in we should have loads of money.
 
Yes he said last night that the business plan was to repay it over 4 years basically, I can’t recall the exact split.
Would be interested to know if that’s happened or not.
It does also raise the question of what we need a loan for if we are getting this years parachute payments and the £5m SD is paying in we should have loads of money.
That was the FPP "loan" he did not mention anything regarding the parachute payment being returned. There are certainly more questions that need answering from these two but if as you state Donald is going to return any of the money used by him to purchase the club, it needs to be clearly seen as being repaid in the accounts next year...I wouldn't put money on that , thats why he has Jameson's involved..
 
So they did use the parachute payment to buy the club then!

So if Stewie and Meths did indeed use the £15m parachute payment to enable them to buy the club and pay Short off, then surely one question that needs to be asked is " When is this money going to be repaid back to the club" and does this "Loan" from FPP override the repayment of the fifteen million....All these two are doing is straightforward shifting money about for peter to pay paul..For me, after my experience in running million pound companies, they are simply manipulating the system which I guarantee will end in disaster.

When Short left, he took £25m of the debt to SBC with him. This is evidenced by the fact that a loan facility for £25m to Drumaville was created when the takeover happened, secured on the assets of Drumaville, the company the owns the Hilton (which is where i found the charge document) and a Bermuda based property company owned by Short. That is the element that was effectively paid for by the club. The original intention had been to have the parachute go direct to Drumaville, but it was pointed out that PL rules meant that it had to go into an account in the club's name first. If the intention always was that the parachute was going to be used to pay off the last of the loan, it would have been far better to leave that in the club. But Ellis wanted to be seen to leave the club debt free. Ellis's price for the shares was actually £15m, but the loan arrangement created a complication which meant that the loan repayment ended up as part of the investment cost in Madrox's books. I've spent some time trying to work out whether there was an alternative accounting treatment, but I haven't been able to.
 
When Short left, he took £25m of the debt to SBC with him. This is evidenced by the fact that a loan facility for £25m to Drumaville was created when the takeover happened, secured on the assets of Drumaville, the company the owns the Hilton (which is where i found the charge document) and a Bermuda based property company owned by Short. That is the element that was effectively paid for by the club. The original intention had been to have the parachute go direct to Drumaville, but it was pointed out that PL rules meant that it had to go into an account in the club's name first. If the intention always was that the parachute was going to be used to pay off the last of the loan, it would have been far better to leave that in the club. But Ellis wanted to be seen to leave the club debt free. Ellis's price for the shares was actually £15m, but the loan arrangement created a complication which meant that the loan repayment ended up as part of the investment cost in Madrox's books. I've spent some time trying to work out whether there was an alternative accounting treatment, but I haven't been able to.
Well, he does have 8 accounts to your one by the looks involved...It will all come out in the wash But,! I'll not hold my breath for the £15m being repaid.
 
well put..

Still did not say what happened to the £15m parachute payment he used to buy the club with.
It was £25m and he explained it perfectly for the first time. It’s exactly what people thought but the first time he’s come out and said he basically bought the club for £15m.
The parachute payments were basically used to pay SBC off.
This seasons parachute payment of £15m will have been used to pay off some players, and cover the loss we are still running at.
All of this should have been put to bed at the start of the takeover but have liked using the half truths of the club cost £40m and that the plan originally was to not need the parachute payment, but perhaps they couldn’t reduce cost quick enough.
He even said how much he plans to invest every year for the next few years.
Being called a chancer has really pissed him off and finally he’s had to just say it like it is.
 
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