summary of what SD said last night


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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.
Some one comes in and uses the parachute payment, when he basically did not have sufficient funds to buy the club, and used badly needed money that was destined for the club what would you call him?
 
That parachute payment was always earmarked to pay off the last £25m of the SBC loan. End of story. Nothing to do with the cost of the shares.
Sorry, I dont beleive I said it was shares.. The shares your on about that are held by the owners in Madrox do have value in the land ,Sol & Aol .. That to me is collateral. I wouldn't lend money on Shares alone.
 
Some one comes in and uses the parachute payment, when he basically did not have sufficient funds to buy the club, and used badly needed money that was destined for the club what would you call him?
Again you are only saying that because of how they set up the deal. If they bought the club for £15m and then paid of the SBC debt (which was on huge interest rates) with the parachute payments you wouldn’t bat an eyelid.
They messed up at the start by trying to big up the initial purchase price.
He’s since said that due to the way that it was handled that on paper he owes the club money. He even said last night when that money was going to be put back in.
The only thing the club is missing out on is possibly interest on that money. But it’s not real money!!!
 
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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.
This
 
That parachute payment was always earmarked to pay off the last £25m of the SBC loan. End of story. Nothing to do with the cost of the shares.

With that in mind I have no idea why he said in the podcast after Wembley that we were in a position to give it a right good go with parachute money too if need be. That was clearly never an option
 
With that in mind I have no idea why he said in the podcast after Wembley that we were in a position to give it a right good go with parachute money too if need be. That was clearly never an option
That’s a different seasons parachute money.
The £25m was used to pay off SBC and this season £15m is probably being used to pay off our players and cover the losses we still make.
It seems like he assumes players will leave a little too easily. Even last season I think they were hoping everyone would leave and they’d have a total clean slate.
 
That’s a different seasons parachute money.
The £25m was used to pay off SBC and this season £15m is probably being used to pay off our players and cover the losses we still make.
It seems like he assumes players will leave a little too easily. Even last season I think they were hoping everyone would leave and they’d have a total clean slate.

Ta.
 
Yeah I know it's not his fault but i had the mental image of Ricky Gervais in the studio :lol::lol:

its when he asked a question with himself as the third person, sounds very similar.
Also loves to say de dur de dur de dur when completing a sentence.:lol:
 
That parachute payment was always earmarked to pay off the last £25m of the SBC loan. End of story. Nothing to do with the cost of the shares.
I think I heard right that Ellis wanted all the £40m. up front which is why it was done like that. The £25m. is being paid back £5m. this year and £10m. in each of the next two years.
I thought he came across well. The FPP loan will be repaid (both he and Juan can fund that) and it sounded like there are provisions in place for an American acquisition eventually (reading between the lines).
All we need now is a team that plays winning football. 🙃
 
I think I heard right that Ellis wanted all the £40m. up front which is why it was done like that. The £25m. is being paid back £5m. this year and £10m. in each of the next two years.
I thought he came across well. The FPP loan will be repaid (both he and Juan can fund that) and it sounded like there are provisions in place for an American acquisition eventually (reading between the lines).
All we need now is a team that plays winning football. 🙃
Just listened to most of it. He mentioned a few times that Madrox owed him around £20m which he stands to lose if he defaults the FPP loan. But if Madrox owe SAFC the £25m parachute payments mentioned above why is he owed £20m?
 
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