Take over in jeopardy?

[Red]

I reckon lots of potential new lads fans have been turned away after reading how we do it on here! Everyone seems so quick to hammer anyone with an opinion different to their. For what it’s worth I reckon Donald has a figure in mind for what he sees is a good return for being a greedy bassa. Until that surfaces either now or if we ever get to the next level up he isn’t going anywhere.

Sunderland have announced that an agreement has been reached with a prospective new owner, Kyril Louis-Dreyfus, the son of the former Marseille owner Robert Louis-Dreyfus, and is set to acquire Stewart Donald’s controlling interest in the club.

Donald accepted an offer from the 22-year-old Frenchman in November but the deal has taken six weeks to complete and is still pending approval from the EFL. If that is granted, Louis-Dreyfus will become chairman and majority shareholder of the League One club.


“First, I would like to thank Stewart Donald for his integrity and reasonableness over the last three months, which has led to me having the opportunity to take a controlling stake in Sunderland AFC,” Louis-Dreyfus said. “We respectfully await the EFL’s approval for this transaction.

I don't know how people miss this part, how they think Donlad is still holding out for more money.

 

[kildaremackem]

Club debt my arse that’s a convenient story you lot throw about, bought the club with the parachute payments which by the way was close to £50m, sold about 15 kids of age 16 or less for peanuts, £200k for Joe Hughill who scored 4 on Saturday against liverpool for Man U u23s aged 17 and you on going on like they saved the club, don’t make me laugh man # clueless

it was a club debt..sbc were owed money and it was scured against the para payments..no one at safc had control over the para payments for years..ellis then paid sbc himself and transferred the para money security to himself..

joe hugill has done much less in football than every current safc player..

 

[Laidback Jack]

Longer it goes on the more chance it has of going tits up..

 

[Lord Potts]

well id agree you there..but this time we have a statement from KLD..

I don't doubt that KLD genuinely wishes to hold the major shareholding in the Club if not own it out right.

 

[Thatheaderman]

Loads of jobs there.

 

[dave hedgehog]

it was a club debt..sbc were owed money and it was scured against the para payments..no one at safc had control over the para payments for years..ellis then paid sbc himself and transferred the para money security to himself..

joe hugill has done much less in football than every current safc player..

That last comment..... he's a young footballer. What do you expect young footballers to 'do'?!!!

Potential quality players are an investment and benefit the club medium to long term. Your answer suggests short term thinking about him / similar players. Which is exsctly the issue fans have with stewart donald and co. Ultimately they made bad footballing decisions

 

[kildaremackem]

That last comment..... he's a young footballer. What do you expect young footballers to 'do'?!!!

Potential quality players are an investment and benefit the club medium to long term. Your answer suggests short term thinking about him / similar players. Which is exsctly the issue fans have with stewart donald and co. Ultimately they made bad footballing decisions

SD did make bad football decisions.

 

[Red and white TID]

it was a club debt..sbc were owed money and it was scured against the para payments..no one at safc had control over the para payments for years..ellis then paid sbc himself and transferred the para money security to himself..

joe hugill has done much less in football than every current safc player..

You are just like your pals, short sighted, clueless and lots of other not very nice things,but I don’t want to get chucked off here because of you, so won’t bother.

 

[arewethereyet]

2 y

onald ddnt asset strp..there werent any assets, only labilities..

The parachute money went to pay a club debt to short
the academy sales paid to cover the clbs losses and recruitment, and cam to much less than the £11.5m the ownrs have put in as of the last accounts.

No it didn’t, they used the 2 years parachute payments cicra £33 million to help purchase the club. If that purchase price included a debt to Short than that’s on them. What about the £9-10 million loan from FFP? Over £43 million in little over 2 years

 

[Red and white TID]

2 y

No it didn’t, they used the 2 years parachute payments cicra £33 million to help purchase the club. If that purchase price included a debt to Short than that’s on them. What about the £9-10 million loan from FFP? Over £43 million in little over 2 years

Absolutely @kildaremackem talks like they have done Safc a favour by being our owners, the truth is they have wasted a fantastic opportunity to turn our club around with their mismanagement.

In the process spent over £40 m of the clubs money and more importantly in that 2 years of killing our Club and selling our future, ie u16’s, we now have the salary cap to contend with.

Oh and this line of Donald did mess up the football side, trying to infer he or Charlie did this fantastic job on the financial side is rubbish also, we are still paying Cattermole god knows what and he left a year and 1/2 ago and as we both said spent well over £40m and now have a £10m loan against whichever company they want to call it, but basically it’s Safc # AMATEURS.

 

[kildaremackem]

Absolutely @kildaremackem talks like they have done Safc a favour by being our owners, the truth is they have wasted a fantastic opportunity to turn our club around with their mismanagement.

In the process spent over £40 m of the clubs money and more importantly in that 2 years of killing our Club and selling our future, ie u16’s, we now have the salary cap to contend with.

Oh and this line of Donald did mess up the football side, trying to infer he or Charlie did this fantastic job on the financial side is rubbish also, we are still paying Cattermole god knows what and he left a year and 1/2 ago and as we both said spent well over £40m and now have a £10m loan against whichever company they want to call it, but basically it’s Safc # AMATEURS.

thy didnt spnd th £40m though...that mony had ffctvely ben spent by Ellis short when he used the parachut money as scurtiy for his loan from SBC. How that money was spent was none of the current owners concern, it wasnt their money, they never had access to it, and ddnt spend it, it was SBC Cotporation's money, spent by Ellis Short.
POrove they are still paying catts? This is one of the myths repeated on here but nevr wth evidence.
I DONT THINK METHVEN DID a good job on the finance sde, as that wasnt his role.
But someone did, as they massively reduced losses, though i agree wth you about the lack of comptence on the football side. Thats a concern I was highlihting from day one.
I dont like the SBC loan, and agree with you, that because the club assets are security, its a club loan. Ellis did th sam, and Quinny's mob.

 

[Red and white TID]

thy didnt spnd th £40m though...that mony had ffctvely ben spent by Ellis short when he used the parachut money as scurtiy for his loan from SBC. How that money was spent was none of the current owners concern, it wasnt their money, they never had access to it, and ddnt spend it, it was SBC Cotporation's money, spent by Ellis Short.
POrove they are still paying catts? This is one of the myths repeated on here but nevr wth evidence.
I DONT THINK METHVEN DID a good job on the finance sde, as that wasnt his role.
But someone did, as they massively reduced losses, though i agree wth you about the lack of comptence on the football side. Thats a concern I was highlihting from day one.
I dont like the SBC loan, and agree with you, that because the club assets are security, its a club loan. Ellis did th sam, and Quinny's mob.

Right so we will go with your theory of how they ES , paid ES SBC that’s £25m which leaves roughly £25m left over from the parachute payments agreed yes which has gone, they have also written off £20.5m, then there is the £10m which even GOM agrees is spent.

Spent about £5m worth of players, don’t think it’s that much but let’s be generous .
Sold McNair, Borini, Maja, Asoro, Khazri etc etc for god knows how much in total, but well over £20m
Bundles of 15, 16 year olds for well over a £1m.
Where does this make you think anyone has done a fantastic job of running our club financially for the last 2 years, behave man

I would much prefer you, them, be honest and say we messed up, came to make money we have tried to sell the club from the very first few months we were here, but we messed up, we are sorry..

But no it’s talk more b******s.

Shambles.

 

[MADBOB THE MAKEM]

You are just like your pals, short sighted, clueless and lots of other not very nice things,but I don’t want to get chucked off here because of you, so won’t bother.

Oh and you are a superstar I bet. We all Inc make mistakes and live with them it's a forum just move on ffs

 

[Red and white TID]

Oh and you are a superstar I bet. We all Inc make mistakes and live with them it's a forum just move on ffs

Yep, totally agree we all do make mistakes, all of us myself included, but I wasn’t speaking to you or about you, so why are sticking up for someone you don’t know or maybe that’s the reason you are getting involved, you do know them very well.

 

[Macho]

well with maja he paid more for the replacement than he got for the asset sold, so at least in accounting terms, the value of SAFC assets on the books rose when £500k maja was replaced by £3m grigg. so the reverse of asset stripping.

Installements, appearences ect wasnt it? He may have only paid 200k. ?

Grigg was meant to be someone elses problem.

 

[kildaremackem]

Installements, appearences ect wasnt it? He may have only paid 200k. ?

Grigg was meant to be someone elses problem.

donald (or sartor actually) had to pu in the cash to pay for grigg...but as i say, replacing maja with grigg, increased the valu of th assets on the safc balance sheet, as long as they didnt borrow the money for grigg, which thy didnt.

 

[HeaderDownBrown]

I reckon lots of potential new lads fans have been turned away after reading how we do it on here! Everyone seems so quick to hammer anyone with an opinion different to their. For what it’s worth I reckon Donald has a figure in mind for what he sees is a good return for being a greedy bassa. Until that surfaces either now or if we ever get to the next level up he isn’t going anywhere.

What?

 

[Macho]

donald (or sartor actually) had to pu in the cash to pay for grigg...but as i say, replacing maja with grigg, increased the valu of th assets on the safc balance sheet, as long as they didnt borrow the money for grigg, which thy didnt.

Theyll have stumped up the initial installement and thats it.

 

[Nig]

donald (or sartor actually) had to pu in the cash to pay for grigg...but as i say, replacing maja with grigg, increased the valu of th assets on the safc balance sheet, as long as they didnt borrow the money for grigg, which thy didnt.

Increased the value of assets on the balance sheet for how long ?

 

[kildaremackem]

Increased the value of assets on the balance sheet for how long ?

well thats also true!