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Takeover News/Rumours - Part 42

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scott934 said:
Probably a situation where he's giving them attention and filling them full of his bollocks so they're behind him.
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Aye that's what I think.
scott934 said:
I remember reading (probably your) posts at the time saying it was Spanish based, and even the club statement mentioned an "overseas consortium" or words to that effect. The signs were there from the start, but I suppose we were easy to manipulate because of how desperate we were, it's a lesson worth remembering
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Also meant to be why the holding company is called MADROX as well isn't it? MADRid OXford
 
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KittenMittens said:
Yeah, my friend's brother worked as a translator/English tutor for someone on the Spanish side of Madrox. I was contacted because I was the only Sunderland fan who anyone knew (mate is from London). I was asked a few questions about us by said group, and in return was kept broadly in the loop by my friend's brother.

By the time it ended, their opinion of Donald was mud (after thinking he could be great at first, ring any bells?). It was meant to be 51% Spanish group - it was a consortium of owners, some of whom are now owners of other clubs in Spain - 24.5% Donald and 24.5% someone else (who now believe was Sartori). He tried to make it 33% each, which would have meant he and whoever the third party was would effectively be majority owners if they aligned. The Spanish pulled out and looked elsewhere.

Who knows if it would have worked out, but I do know that Short was willing to write off the entirety of the debt in April of that year as part of that deal, and the consortium would have paid for the club up front. Between them their estimate was that it would take 9-figures of their own investment to get us to the PL, and they were comfortable with that.

Instead we got a Rumbelows deal that allowed Donald to pay a small deposit and the rest he syphoned out of the club, to be 'drip fed' back in. Ugh.
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The man is vermin
 
samaistonsrightfoot said:
f***ing hell. I knew there was rumours about ditching a consortium but didn't realise it went to that extent.

If that is indeed what happened then that goes far beyond just making a few mistakes/not explaining the deal correctly.
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At the time of the takeover @KittenMittens and another poster - @Tonton Zola Moukoko (I think?) were both giving updates on it from different sources.

Then the updates deviated massively and IIRC there was a bit of handbags about some underhand dealings.

Reading between the lines KM was getting updates from the Spanish side and TTZM from SD or CM's acquaintances.
SD was to be the British face of the takeover with the Spanish consortia bankrolling us.

Somewhere along the road SD decided to renegotiate or that he could go it alone and finance it from the Parachute payments and the consortium broke. Who came up with the idea to use them and how the deal went through no one seems to know conclusively?

The rest is history.

EDIT: Conjecture based upon stuff on here and in the public domain.
 
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KittenMittens said:
Yeah, my friend's brother worked as a translator/English tutor for someone on the Spanish side of Madrox. I was contacted because I was the only Sunderland fan who anyone knew (mate is from London). I was asked a few questions about us by said group, and in return was kept broadly in the loop by my friend's brother.

By the time it ended, their opinion of Donald was mud (after thinking he could be great at first, ring any bells?). It was meant to be 51% Spanish group - it was a consortium of owners, some of whom are now owners of other clubs in Spain - 24.5% Donald and 24.5% someone else (who now believe was Sartori). He tried to make it 33% each, which would have meant he and whoever the third party was would effectively be majority owners if they aligned. The Spanish pulled out and looked elsewhere.

Who knows if it would have worked out, but I do know that Short was willing to write off the entirety of the debt in April of that year as part of that deal, and the consortium would have paid for the club up front. Between them their estimate was that it would take 9-figures of their own investment to get us to the PL, and they were comfortable with that.

Instead we got a Rumbelows deal that allowed Donald to pay a small deposit and the rest he syphoned out of the club, to be 'drip fed' back in. Ugh.
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Dont you just love Donald and Charlie ?
 
scott934 said:
I remember reading (probably your) posts at the time saying it was Spanish based, and even the club statement mentioned an "overseas consortium" or words to that effect. The signs were there from the start, but I suppose we were easy to manipulate because of how desperate we were, it's a lesson worth remembering
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Isn't that where the madrox name xone from?
Madrid and Oxford for the aspects of the consortium they had.
samaistonsrightfoot said:
Aye that's what I think.


Also meant to be why the holding company is called MADROX as well isn't it? MADRid OXford
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Just seen this, should have read more of the thread before posting
 
Am I the only one that thinks this isn't happening?
The takeover rumour by FFP had me convinced but slowly as it dragged on I began to doubt, this one is following the same route, it should have happened by now if it ever was going to.
 
wisemensaysteve said:
Am I the only one that thinks this isn't happening?
The takeover rumour by FFP had me convinced but slowly as it dragged on I began to doubt, this one is following the same route, it should have happened by now if it ever was going to.
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The funding to make the structural changes to the club has come from somewhere, no way would SD do that during a pandemic at a business losing millions already. I think KLD will buy in, but whether that constitutes a takeover is down to interpretation.
 
sksk3021 said:
We don't know where the new structure has come from, that's kind of the point. We have no clue who is making any of the decisions at the moment, you are suggesting it's the prospective new owners which could be right, just not sure there is a lot of evidence to support it especially if Speakman is saying he hasnt spoken to them.
What we do know is the new head coach has only spoken to SD none of the other/new owners.
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He has to speak to SD he is still the owner, the current owners. Cant see the current owners suddenly deciding to go down the routebof totally restructuring the club, or providing substantial financial backing.
Arfa Sleep said:
It's with the EFL.
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Is it def with tthe EFL, or is this just rumours
 
sad-eyed prophet said:
Hey Mr Gullible, KM knows next to nowt.... he’s playing to your agenda....you’re being wound like a clockspring man!!
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I have no need to wind people up against Donald. I'm just telling you what happened from the Spanish side, but you're free to believe whatever you like, or go back to 606 and chat shit about me like an owld woman.

For what it's worth - and I don't think 3 years down the line I really expect this to bite me on the arse given all the parties involved have moved on - one of the Spanish potential owners has recently failed the EFL test because he wouldn't allow them to investigate his businesses.

I don't think he would have at the time because that test had become more stringent and I have it on good authority that he's actually above board, but like I said, I don't know how things would have turned out if they'd have bought us - they still planned to have Donald heavily involved.

I do know that Short was willing to write off the debt - and I believe it was not just to the deal I knew about either, another potential buyer was reportedly offered terms that would have ended up with the club debt free and no future earnings going to Short.
 
Confucius said:
apologies for tagging @Ghandi Floss but have the club even responded to the RAWA new meeting request yet? Have they even acknowledged receipt of it? Surely this is also down to Rodwell to communicate with fan representatives. Is this even more proof of their disdain for us
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Nope. And it’s definitely proof of the current regime’s disdain for all our supporters. Or at least the ones who dare scrutinise them.
Alas, if Methven carries on in any kind of role after the ‘takeover’, then this is unlikely to change.

Although, they have spoke to some fan reps today on fans returning to stadiums. I’d expect something to be released over the coming days.
 
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