Takeover News/Rumours - Part 42

[Grumpy Old Man]

It still doesn’t make sense to me. To give in after waiting so long and make all these fundamental changes and appointments would be indicative of a takeover being miles off being agreed.
But then KLD liking SAFC social media and reports from reputable media sources then contradict that.

I’ve no idea where it sits. I won’t put much stock in what Rodwell says mind. I doubt he could lie straight in bed.

Bear in mind that until someone else arrives, decisions can only be made by the board of Sunderland, although they could be acting in response to "suggestions from consultants". And that Juan Sartori is a member of that board.

 

[Deleted member 31333]

Would agreements not need to be in place/things signed before it got there though?

No idea. Was just the way he said certain things are with the EFL it sounded to me like there’s other things still being ironed out. He could have just said that it was all with the EFL

 

[MikeSAFC]

Seems KLD may have realised that it’s probably not a good idea to leave 60% of control with Donald, Methven and Juan. Smart kid but could have told him that at the outset.

His Mam had a word

 

[GBSAFC]

Question ... hypothetically if KLD bought out madrox .... legally could he try and sue them as debtors for the £20m they borrowed and wrote off?

How legal was the seld loan and written off debt

 

[Howard the Duck]

Bear in mind that until someone else arrives, decisions can only be made by the board of Sunderland, although they could be acting in response to "suggestions from consultants". And that Juan Sartori is a member of that board.

I did think that they could be very carefully worded statements from Rodwell but I didn’t want to be too optimistic.

The general tone of the article seems to be trying to manage expectations too which suggests nothing is imminent.

 

[Grumpy Old Man]

No idea. Was just the way he said certain things are with the EFL it sounded to me like there’s other things still being ironed out

No reason why KLD couldn't be getting his personal clearance in place while everything else is finalised. The EFL will already have reviewed the club's 20/21 budget for FFP purposes, so any changes consequent to a takeover would fall under routine monitoring.

Question ... hypothetically if KLD bought out madrox .... legally could he try and sue them as debtors for the £20m they borrowed and wrote off?

How legal was the seld loan and written off debt

No. Everything was legal. Where you stand on it is a moral issue, not a legal one.

 

[Deleted member 30053]

I heard from someone at the club just after the loan (at the time Donald was denying it was a loan) that it was at 8.5% interest. So Nixon may not be far off with his figures here.

I remember getting shouted down by clappers for saying that you either provide a loan in order to charge interest or make an investment in order to make a return on your investment and that FPP wouldn’t simply be “investing in Donald” by gifting him £10m that could just be repaid at will because he was such a nice investable man. Once the loan was secured against the stadium it was clear they had him over a barrel and could just bide their time. Interested to see how it plays out now.

 

[Gaz]

Nixon “The person can do the directors and owners test. Doesn’t mean he has to do the deal if he doesn’t agree with the numbers.”

Reading between the lines of his tweets he doesn’t sound convinced anything is agreed imo

 

[KittenMittens]

No surprise.
I still reckon our club may be owned by FPP by the end of the season. Which would be a good thing in the long run.

I really don't think it will mate, and if it did happen that they took advantage of administration, I would now question their motives if the only way they could be persuaded to take on shares in us was via exploiting a financial catastrophe, rather than preventing us getting to that stage.

FPP have stoically refused to buy us for over a year. They made a decision in September of 2019 and have stuck to it through numerous opportunities to change their mind and many public attempts to sell by Donald. They have also used the model between FPP and us as the basis for other investments via MSD, which indicates that they see value in the football finance market, rather than ownership.

They've again put another nail in the coffin now by saying they want to tie off their interest. This isn't aimed at your post, but do I wonder how many more nails need to go in before people stop believing they're going to swoop in as white knights, despite overwhelming evidence that they won't?

I don't like Donald, so this isn't me 'supporting' him. He has done much wrong over his first 2 years and I've been very, VERY vocal about that even when the majority of fans didn't want to believe it. I want him gone as much as anyone before he does more damage, but FPP's never-ending 'takeover' has caused a rift in our fanbase, it has plunged us into limbo, and it has left us (unfairly) comparing everyone with something that is almost certainly not going to happen because of their choice and nobody else's. In my opinion, it is not healthy for us as a fanbase to constantly pine for the FPP opportunity that has gone, instead of being happy about what can and will happen in future with other people.

 

[TeamOfTalents]

I think SD needs to wake up. He has a a way out via KLD, but if he wants to hang on to shares for a big pay day can see FPP taking over by default.

 

[The Cabbage]

Has the club been broadly ‘doing the right things’ recently in terms of structure and appointments? Yes.

Do I believe that the Donald regime has either the intelligence or the funds to be the driving force behind such appointments? Not in the slightest.

Will i relax until this incompetent dope and his awful chums are nowhere near decision-making at this club? Not a f***ing chance.

So much conflicting information about - both in what people are saying and what is actually happening. I’m gonna refuse to get too positive or too negative until we’ve got something really concrete. I’d suggest everyone else does the same for now.

 

[Moderate Power]

Has the club been broadly ‘doing the right things’ recently in terms of structure and appointments? Yes.

Do I believe that the Donald regime has either the intelligence or the funds to be the driving force behind such appointments? Not in the slightest.

Will i relax until this incompetent dope and his awful chums are nowhere near decision-making at this club? Not a f***ing chance.

So much conflicting information about - both in what people are saying and what is actually happening. I’m gonna refuse to get too positive or too negative until we’ve got something really concrete. I’d suggest everyone else does the same for now.

Sensible comments.

 

[The Cabbage]

I really don't think it will mate, and if it did happen that they took advantage of administration, I would now question their motives if the only way they could be persuaded to take on shares in us was via exploiting a financial catastrophe, rather than preventing us getting to that stage.

FPP have stoically refused to buy us for over a year. They made a decision in September of 2019 and have stuck to it through numerous opportunities to change their mind and many public attempts to sell by Donald. They have also used the model between FPP and us as the basis for other investments via MSD, which indicates that they see value in the football finance market, rather than ownership.

They've again put another nail in the coffin now by saying they want to tie off their interest. This isn't aimed at your post, but do I wonder how many more nails need to go in before people stop believing they're going to swoop in as white knights, despite overwhelming evidence that they won't?

I don't like Donald, so this isn't me 'supporting' him. He has done much wrong over his first 2 years and I've been very, VERY vocal about that even when the majority of fans didn't want to believe it. I want him gone as much as anyone before he does more damage, but FPP's never-ending 'takeover' has caused a rift in our fanbase, it has plunged us into limbo, and it has left us (unfairly) comparing everyone with something that is almost certainly not going to happen because of their choice and nobody else's. In my opinion, it is not healthy for us as a fanbase to constantly pine for the FPP opportunity that has gone, instead of being happy about what can and will happen in future with other people.

Agreed. I’ll take almost anyone over Donald but I’d far rather kld than FPP now.

 

[Duncan H]

I remember getting shouted down by clappers for saying that you either provide a loan in order to charge interest or make an investment in order to make a return on your investment and that FPP wouldn’t simply be “investing in Donald” by gifting him £10m that could just be repaid at will because he was such a nice investable man. Once the loan was secured against the stadium it was clear they had him over a barrel and could just bide their time. Interested to see how it plays out now.

Playing the long game and knowing he d fuck himself . They would have seen the mess of the club and knowing someone like him would just dig himself a bigger hole

 

[martinlumley]

Article says the paperwork is with the EFL but despite the whole thing being filled with quotes there's no quote for that confirmation.

It also says Storey isn't a credible buyer but again no quote in relation to that whatsoever bar Rodwell sating they won't comment on potential buyer.

Bizarre.

Edit: He does say certain documents are with the EFL (don' t know what these are) but it was one sentence sandwiched between a load of adverts so missed it.

I'm sure Rodwell is quoted in the ( Hunter/Chronicle) article as saying that documentation has been lodged with EFL ?

 

[one armed boxer]

Rodwell says those decisions were made and implemented solely by the current board, but admits he would be 'astonished' if an incoming regime tore up that plan.

He said: "The reality is that the decision to remove Phil [Parkinson] was made by the board of Sunderland.

"The appointment of Lee [Johnson] was made by the board of Sunderland, and the decision to bring in Kristjaan [Speakman] was made by the board of Sunderland.

"Those are the facts.

"We've tried to keep spinning plates but sooner or later you have to make some big decisions

"I think the calibre of people we have brought in in Lee and Kristjaan speak for themselves, and I would be astonished if any new ownership group came in and decided that they could get better or that they weren't for them, I would be amazed.

"But this is football, and bonkers things happen all the time."

But the itk’s were adamant this was all done by the incoming owners, and stated this a number of times. So either they are lying or rodwell....

 

[samaistonsrightfoot]

I'm sure Rodwell is quoted in the ( Hunter/Chronicle) article as saying that documentation has been lodged with EFL ?

Already added the edit. The quote was on its own between two massive ads so I missed it.

He also specifies certain documents. Not sure whst needs to go to EFL or at what stage but that doesn't sound as final as waiting for signoff etc.

 

[Ghandi Floss]

I really don't think it will mate, and if it did happen that they took advantage of administration, I would now question their motives if the only way they could be persuaded to take on shares in us was via exploiting a financial catastrophe, rather than preventing us getting to that stage.

FPP have stoically refused to buy us for over a year. They made a decision in September of 2019 and have stuck to it through numerous opportunities to change their mind and many public attempts to sell by Donald. They have also used the model between FPP and us as the basis for other investments via MSD, which indicates that they see value in the football finance market, rather than ownership.

They've again put another nail in the coffin now by saying they want to tie off their interest. This isn't aimed at your post, but do I wonder how many more nails need to go in before people stop believing they're going to swoop in as white knights, despite overwhelming evidence that they won't?

I don't like Donald, so this isn't me 'supporting' him. He has done much wrong over his first 2 years and I've been very, VERY vocal about that even when the majority of fans didn't want to believe it. I want him gone as much as anyone before he does more damage, but FPP's never-ending 'takeover' has caused a rift in our fanbase, it has plunged us into limbo, and it has left us (unfairly) comparing everyone with something that is almost certainly not going to happen because of their choice and nobody else's. In my opinion, it is not healthy for us as a fanbase to constantly pine for the FPP opportunity that has gone, instead of being happy about what can and will happen in future with other people.

I didn’t mean through administration. I meant in Donald being no longer able to fund the club, thus, them taking over.
They obviously have an interest in football (Robert Platek having recently taken over a Danish club), and their loans to other clubs sound a lot different to what they’ve done in regards to Sunderland.
The simple fact is they 100% wanted the club, obviously ran a mile once they seen the ridiculous price, the books, and spent time with Donald/Methven. Then offered a loan with the view to either get it back with interest, or even better, the club for far less than quoted.
I’m sure you know far more than me when it comes to financial matters, but I’m just reading between the lines from what’s gone before, and from speaking to others who know far more than I.

 

[Howard the Duck]

Agreed. I’ll take almost anyone over Donald but I’d far rather kld than FPP now.

If he is responsible for the new ‘vision’ for the club and the remit and instruction that Speakman says he received then even more so for me.

But the itk’s were adamant this was all done by the incoming owners, and stated this a number of times. So either they are lying or rodwell....

Or the people providing them with their information are.

Considering Methven is likely to be the source for a lot of them then I know where my money lies.

 

[Wayne The Punk]

I have no idea wtf is going on any more, about an hour ago I thought Donald was fucked because FPP wanted the money back if he sells and he is losing £1 million a month. Now people chuntering on about him applying for the second stage loan and f***ing up our transfers in January, just thought about that, he will never do that, it would reduce his selling price. I suspect good old Stewie is perspiring a little at the moment. Good