Takeover News/Rumours - Part 42

[Arfa Sleep]

The utter lack of evidence that it was ever actually on?

Other than reports from reputable news organisations, you're very much right.

 

[Grumpy Old Man]

Unless Dreyfus buys them all out completely and forms another vehicle.

That would imply all of Donald, Methven and Sartori selling up completely, which is at odds with everything that's been said to date.

 

[Thatheaderman]

Yes ! We’ve seen nothing and continue to see nothing. The original thread of ‘due diligence’ was back in June/July

Yeah. It's gone on so long it's ridiculous really. Suppoters in the dark and with what's going on with Covid it's starting to turn my gills green this now.

 

[molthemackem]

That would imply all of Donald, Methven and Sartori selling up completely, which is at odds with everything that's been said to date.

Yes, but we don't know anything more regarding the TO/Share redistribution ,whatever you want to call it, save for Nixon's tweet the other day...Dreyfus could well have made a full offer to buy all of the current shareholders out. after doing some further digging. One thing is for sure, if Dreyfus is buying into the Club I cant see him wanting anything less than a controlling interest 51% or above. I know I would want that.

 

[Charmless Man]

Can’t believe we’re discussing the minutiae of a deal that’s not happening mind.

 

[cluffy]

Just logged onto my computer and this thread is always my first port of call. Opened the Christmas thread first instead - don't know if that's a sign of me being festive or giving up on the takeover!!!

I'd love to be able to go a week without checking this thread!

 

[richest]

Holding company isn't losing anything - it's non-trading. The trading losses are all in SAFC. There's an argument about the carrying value of the investment in Sunderland, but you'd only recognise that if any diminution is though to be permanent.

Mm this is confusing for many. Donald is said not to be personally losing money and holding company Madrox isn't you say. So who is losing the hundreds of thousands every month?

 

[Thatheaderman]

I'd love to be able to go a week without checking this thread!

May as well have went months

 

[Grumpy Old Man]

Mm this is confusing for many. Donald is said not to be personally losing money and holding company Madrox isn't you say. So who is losing the hundreds of thousands every month?

SAFC. Any cost to Donald will be in funds he has had to put in. Now that could be regarded as putting money back into the club from the parachute., but it will be in the form of loans to Madrox, which will have to be factored into the deal.

 

[BumbleBee]

SAFC. Any cost to Donald will be in funds he has had to put in. Now that could be regarded as putting money back into the club from the parachute., but it will be in the form of loans to Madrox, which will have to be factored into the deal.

Can't remember who said it - Donald or Methven - that the parachute money would be drip fed back in. I would have thought now was a time it needed to be drip fed.

 

[Iansun45]

I'd love to be able to go a week without checking this thread!

And probably still nowt will have changed

 

[MADBOB THE MAKEM]

That would imply all of Donald, Methven and Sartori selling up completely, which is at odds with everything that's been said to date.

Thats not going to happen and you know that.
The deal is agreed. It is only legals slowing things down over the latest change in the share issue.
I hope you have a great Xmas Ian look after yourself.

 

[Tin Soldier]

Yeah. It's gone on so long it's ridiculous really. Suppoters in the dark and with what's going on with Covid it's starting to turn my gills green this now.

Nothings gone on !

 

[richest]

SAFC. Any cost to Donald will be in funds he has had to put in. Now that could be regarded as putting money back into the club from the parachute., but it will be in the form of loans to Madrox, which will have to be factored into the deal.

So who really owns SAFC which is the loss making company.

 

[Abu Dhabi Red and White]

Thats not going to happen and you know that.
The deal is agreed. It is only legals slowing things down over the latest change in the share issue.
I hope you have a great Xmas Ian look after yourself.

Does it have to go back to the EFL as is that part all agreed?

 

[Grumpy Old Man]

Can't remember who said it - Donald or Methven - that the parachute money would be drip fed back in. I would have thought now was a time it needed to be drip fed.

However, that drip feed will be from Madrox, so Madrox will end up owing Donald. Madrox putting money as loans into the club in turn would be like shovelling manure into a jet engine's fans.

 

[richest]

So who really owns SAFC which is the loss making company.

And if SAFC went bust who would lose out then?

 

[Grumpy Old Man]

And if SAFC went bust who would lose out then?

Everyone.

 

[luvulongtime]

Can’t believe we’re discussing the minutiae of a deal that’s not happening mind.

have a like for that word

 

[Grumpy Old Man]

So who really owns SAFC which is the loss making company.

Ascending the chain, we have Sunderland Ltd (owns 100% of SAFC), Madrox Partners Ltd (owns 100% of Sunderland. Madrox is owned 74% SJD Leisure Holdings Ltd, 20% Avesa Corp, and 6% Dragon PR Ltd. All of these are limited liability entities. What limited liability means is that, in the absence of any personal guarantees, the shareholders in a limited company are not liable for its debts. Bluntly, Stewart Donald is not personally responsible for the debts of SAFC.