Takeover
- Thread starter Monkey Hanger
- Start date
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Everyone who said that when he took over were shot down in flames, life comes at you fast lads !!
Safc88
Striker
You dont but you do need a good scouting setup which we certainly dont
Vauxie
Striker
Its not confirmef
leerik_canamole
Winger
I don't want some rich Arab coming in, to me that's not football. I want the club to be self sufficient and slowly making progress year on year. Building up the youth and buying the right players.
If he's got us being self sufficient as he claims, then I'm happy to give him another year or two to get the rest of it right.
Plenty other teams have spent a couple of years down there before bouncing back, like sheff utd, so I'm still positive things will change.
If he's got us being self sufficient as he claims, then I'm happy to give him another year or two to get the rest of it right.
Plenty other teams have spent a couple of years down there before bouncing back, like sheff utd, so I'm still positive things will change.
Vauxie
Striker
Sad thing is it is football these days.
I believe he has us stable so for me the next step would be the likes of a rich arab stepping in
Any with any sense, not sure if you've watched the latest series of STID but I think it is in the 4th episode he actually states himself that to continue he will have to acquire investment or sell for the club to continue, from where I'm sitting he hasn't received any investment so it's time to sell he is unable to take the club any further
I presume all the people that are happy for him to stay are quite happy to spend each coming season in league one or worse
Ask a Man City fan. I’m sure after this I could handle watching their team like. Must be awful winning trophies every season knowing deep down your owner is from another country
Mr B
Winger
So if he sells Maddox for £13m, he walks away with a small profit and the new owners acquire the club at a reasonable price. Once promoted, the new owners repay the £25m to the club from Maddox to allow for Championship investment and they end up with a debt free Championship club for a snip of £38m. Sounds reasonable to me.
deleted user 785
Striker
Change under these blokes? The only glimmer of hope is having Dave Jones on board but I fear his forward thinking ideas will be met with resistance from Donald and his band of dinosaurs[/QUOTE]
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flusheding
Striker
You can look at how the deal was done, written down on paper, and say "this amount was handed over to this person in this way" and technically there is a sum of 40m involved.
This seems to be where Donald digs himself a million holes, he often frames things as essentially true but but can be read or explained multiple other ways. I wouldn't be surprised if he said our seats were installed by contractors. He contracted out the work, they just happened to be fans who weren't paid anything but hot dogs.
Personally I don't seem him as maliciously lying when he does that sort of thing, I reckon he just tries to show off a little bit. Other people take it as him being a giant conman who bullshits all the time.
If Ellis keeps the club a little bit longer before selling, he'd be using the 25m parachute payment to pay the SBC debt, but instead of that happening Donald is using the parachute payment to clear the debt so then the club is "debt free" and Ellis walks away with a nice headline.
I take the anger to Donald to be that he personally didn't pay 25 million to clear the debt and then use the parachute payment for other things, but if you're using that argument what you're actually just saying is you're angry that right now Donald is not pouring double figure millions into the club out of his own pocket to help. So why get so angry about that? Just say you don't think he's rich enough and you want a sugar daddy who pays in more than the club actually makes in profit, aka not self sustaining.
Ellis is the one who dictated the terms of sale. Donald hasn't hood winked Ellis or used money than Ellis didn't know about. Ellis isn't sitting there going "fuck, I thought Donald was paying me personally, I could be 25 million richer if only I knew the parachute money was there for me to ask for too"
(This is how I process the money issue in my head)
Ellis says to Donald "there is a 25m debt that SAFC have to SBC, I want to leave the club debt free so you need to pay it" Donald responds "I'll pay it with the parachute payment, so don't worry, that debt is cleared for when you leave" Ellis is happy and Donald has just had to spend a certain amount of previously unassigned money coming into the club on a specific outgoing. As far as Donald is concerned that's all part of the payment arrangement/figure, even though it's SAFC money. So it's 40m, Ellis is happy with his headline, SAFC as a club has used its own money to pay off a long standing debt it always had to pay off.
Grumpy Old Man
Striker
The loan is to Madrox. The money was put into the club by way of an increase in share capital in November. It's possibly easier to think of the security over the club's assets as being like you acting as a guarantor for a mate's loan.
That omits the problem of the FPP loan if the buyer isn't them. There's a £9m hole in there, either to be paid by the new owners, or Donald. So it's going to cost any new owners at least £22m upfront, plus however much of the £25m they put back in over time.
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North Yorks Mackem
Winger
I see. Thank you.
So he didnt buy the club for 40 million like he said he did then?
flusheding
Striker
See my post above, 40 million is part of the transaction fee.
So he isn't factually wrong is he?
He definitely wasn't clear about it though.
Essentially there is nuance to the whole situation, and you can either agree with that or choose to ignore it. Whichever way you go will dictate how you paint Donald as a person.
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North Yorks Mackem
Winger
Am I right Donald took out a 25 million loan (borrowed against parachute payments), to pay short, who then wiped the remaining debt off. Donald then transferred 25 million of the clubs money to Madrox? Not unreasonable to think this is basically the parachute money paying the loan off that they used to buy the club?
Grumpy Old Man
Striker
No. Short took out a £25m loan from SBC to Drumaville, effectively moving the last £25m of the loan to Sunderland into Drumaville. This was paid by moving £25m of the parachute from Sunderland to Drumaville via Madrox. It's the passing of the money thorough Madrox that created the accounting problem which could only be resolved by treating it in Madrox's books as an increase in the cost of investment. This has been the source of the endless argument and confusion. With hindsight, it would have been better for Short to have just said "OK, I've done what I can. The last £25m in the club's books is down to you" and let it be paid with the parachute from the club. Most people wold have understood that, both from a consideration of Short's position, and in understanding the use of the parachute to pay an obvious club debt.
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Wansbeck Viking
Winger
But....but....he’s a nice bloke.
L
Lexingtongue
Guest
Aye, basically every time Reiver got his knickers in a twist he would go off on one and drag Pancho into arguments that were totally unrelated to him.
Grumpy Old Man
Striker
Aye, basically every time Reiver got his knickers in a twist he would go off on one and drag Pancho into arguments that were totally unrelated to him.
Riv's problem, and we've told him about it many, many times in the pub before matches, is that he won't let go. He's worse than a dog with a bone.
Mr B
Winger
Very true, I was going on the assumption that the £9m loan/investment hasn’t been touched and could simply be paid back so took it out of the reckoning.
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