Grumpy Old Man
Striker
@Gaz also think if it’s true Donald used the parachute payments to buy the club.
If he puts 5/6 million in to keep us going in the next few year. If he gets even 35 million in the next few year he’s made 30 million profit. It’s eye watering really
This needs some correction. At the last accounting date, he'd personally put in £11.2m (director's loan to Madrox, of which £9.1m went to Short, and the rest into the club). Sartori was owed £3m (which went to Short). The only profit Donald can make is from any surplus from either the sale of Madrox itself, or from Madrox selling its shares in Sunderland and any surplus being distributed to its shareholders after all the creditors have been paid off. The much quoted £37.1m was Madrox's cost of investment before it acquired new shares in Sunderland last November (paid for using the FPP loan). The £37.1m can only be justified on the basis of full replacement of the £25m to Sunderland; to the extent that this has yet to happen, the price is unjustifiable. Any sane buyer will know this. It's difficult to know precisely where we are at the moment, because it's so long since the date of the last published accounts. By my estimates, the amount put back into the club by the turn of the year had reached £13.5m (of which Madrox borrowed £9m). So if he's asking for more than £25.6m for Sunderland, he's looking to make a wholly unjustified, and unjustifiable, ptofit.
If Donald was to sell his shares in Madrox, his break even point is whatever is owed to him by Madrox at the time of the sale. Anything higher than that, in my view, is unjustifiable. You may think he deserves to make a loss; I wouldn't necessarily argue, but he's probably not psychologically ready, or even financially able, to do that yet.