WMS Who Owns Sunderland AFC?

[phunboy]

Elvis?

Sorry to tell you but he died some years back

 

[Grumpy Old Man]

If that’s true you should get him on your podcast

I have nothing to say to him, and less desire to participate.

 

[ilovehorswill]

I have nothing to say to him, and less desire to participate.

He knows what I meant. Sensible opinions, cool heads and reasoned arguments don’t get listeners or clicks. CW is where he needs to be.

 

[samaistonsrightfoot]

I was blaming the errors in the accounts on them, and I pointed them out to CM at the time. As it was, I was being asked to ask questions about things like a share issue that never ever happened.

Fwiw i think you are a good poster but you were very dismissive of any criticism of the old owners.

We've now since got another owner who doesn't appear to have accountants who can file docs.

 

[riffraff]

So long as KLD owns more than 50%, the percentages are frankly irrelevant. What matters is who's on the board and who they are backing. The board controls the strategic direction, not the shareholders, and, if KLD has more than 50% of the shares, he controls who's on the board, Simple as that.

I’d like to know how every pound i hand over is potentially divvied up.

 

[Gaz]

The club is run by the boards of Sunderland and SAFC. Neither Donald nor Methven are on the board, and all the Sunderland board members and an overwhelming majority of the SAFC board are KLD appointees. Methven would probably like to be involved some way; Donald is simply hanging on for a second, bigger, payout.

well Methven is obviously still involved in some way, otherwise he wouldn't be abroad wearing club gear doing whatever it is he was doing

 

[Grumpy Old Man]

I’d like to know how every pound i hand over is potentially divvied up.

In the absence of dividend payments, 100% goes on running the club.

well Methven is obviously still involved in some way, otherwise he wouldn't be abroad wearing club gear doing whatever it is he was doing

That was odd. Harvey was wearing new stuff, but he was in an old shop-acquired polo shirt.

 

[North Yorks Mackem]

@Ghandi Floss one of the things that articles pushes is that there has been a clear change in approach in the club, certainly in terms of what budget we have available and what we are able to subsequently spend on players. Chris W mentions about the signings of Winchester and Stewart, then between then and the summer something appeared to change.

Is there any chance the club is going to be pressed on this tomorrow?

 

[Nelson!]

They've had a year to provide an answer.

But they’re expected to give one at an upcoming meeting, why has he waited until now?

Comes across as just wanting to have a pop in case he misses his chance when they answer the question.

 

[Ghost Patrol]

Astonishing that any of those charlatans are still allowed anywhere near our club. Ffs Sartori put money in SD account to enable him to pass the test to take over.

SD accused our supporters of kidnap. Methven also shows no respect with his comments.
I'm very surprised they haven't sold up. Greed and ignorant pride I suppose.
I'm 100% behind KLD but can't understand why he's let those twats hang around.

 

[riffraff]

None of this is relevant to the new ownership and “journalists”, if that’s what he considered himself, shouldn’t be guided by chips on their shoulders no matter how much they feel it’s justified.

And as stated, this is all irrelevant unless they don’t do what they have said they will do. He couldn’t even wait to find out.

Its how involved the old ownership group are that hes trying to find out. Ynar the ones that organised a pile of problems for him when he pointed out their lies and bullshit. He has every right to have a chip on his shoulder.

 

[Grumpy Old Man]

Fwiw i think you are a good poster but you were very dismissive of any criticism of the old owners.

We've now since got another owner who doesn't appear to have accountants who can file docs.

I was dismissive of some interpretations of the deal, which didn't nearly fit what documentary evidence is available. I didn't criticise cost cutting, though there was misdirection in much of it. Call it nuance.

 

[Gaz]

In the absence of dividend payments, 100% goes on running the club.


That was odd. Harvey was wearing new stuff, but he was in an old shop-acquired polo shirt.

it was odd, but if has any involvement, whatever that might be, it would be nice to know what it is. Same with SD, although i suspect he’s hiding now until he gets his bit money out

 

[riffraff]

None of this is relevant to the new ownership and “journalists”, if that’s what he considered himself, shouldn’t be guided by chips on their shoulders no matter how much they feel it’s justified.

And as stated, this is all irrelevant unless they don’t do what they have said they will do. He couldn’t even wait to find out.

Its how involved the old ownership group are that hes trying to find out. Ynar the ones that organised a pile of problems for him when he pointed out their lies and bullshit. He has every right to have a chip on his shoulder.

He’s asked a question they have already agreed to answer in a meeting. What exactly is the point of that?

To remind them that they’ve promised to answer it would be my guess. It’s not as if theres people involved at safc who have nivver been economical with the truth before is it?

 

[Nelson!]

Its how involved the old ownership group are that hes trying to find out. Ynar the ones that organised a pile of problems for him when he pointed out their lies and bullshit. He has every right to have a chip on his shoulder.

Comes down to the difference between being a journalist and a blogger then I suppose. It’s not particularly professional to let personal gripes guide your writing.

Some people seem obsessed with the idea of CM and SD still having some shares. It seems pretty clear why that happened but that they aren’t really involved much. I suppose he’s got more of a right to be upset about it than most like.

 

[Grumpy Old Man]

it was odd, but if has any involvement, whatever that might be, it would be nice to know what it is. Same with SD, although i suspect he’s hiding now until he gets his bit money out

Madbob has hinted Methven is working on one or two one-off projects. Donald, as you say, just wants more cash for his remaining shares later (presumably at a higher price)

 

[samaistonsrightfoot]

But they’re expected to give one at an upcoming meeting, why has he waited until now?

Comes across as just wanting to have a pop in case he misses his chance when they answer the question.

There's another thread on here talking about it so I'm guessing he's read that then put the piece together with all the facts rather than just a 'will you ask them who owns us as the meeting please?'.

It make's sense to raise the question and the circumstances surrounding it prior to a meeting about it. There's more people talking about it now and more questions being raised off rhe back off it which makes it more difficult for the club to wriggle out of it tomorrow, or gives whoever is asking the question tomorrow more info to respond to their answer if they feel they don't cover it sufficiently.

You are presuming the club will give a full in depth answer tomorrow on the basis they've said they'll answer the question. They may well do (hopefully they do) but as I've said they've had nearly a year to release this and for ever reason they have avoided it. I've got visions of that interview they put on the safc website a while ago just answering every question with 'No'. That's answering a question. Tell's us fuck all but answers it.

Highlighting it prior to a meeting about it makes more sense than a couple of weeks later when the minutes come out when there's months until it can be clarified. Hopefully they are more aware of the importance of it

Madbob has hinted Methven is working on one or two one-off projects. Donald, as you say, just wants more cash for his remaining shares later (presumably at a higher price)

Hasn't madbob also said they whole time the % share is nowt like what it was made out to be? Used the term moving the deckchairs iirc?.

 

[kildaremackem]

Having someone with his smarts and experience in the fan base is a blessing and should not be taken for granted.

he doesnt always help himself though..like in his latest blog he comments on how "late" the budget was set,..but the UK only came out of restricitons in august...no leisure business could be sure what its product was until then.

 

[riffraff]

the club never promised donald et al would not be involved.

I’ve never said the club have. People know D&M are involved. It’s how much % wise that people want to know.

 

[kildaremackem]

I’ve never said the club have. People know D&M are involved. It’s how much % wise that people want to know.

i think its worth knowing that..but as GOM has pointed out...as long as KLD has majority..he can dictate how much the others are involved to a large extent..so if they are involved now its to a huge extent more a fucntionof he wants them involved, and less about their shareholding..

I agree, I'd expect them to appoint someone to represent them tbh. That being said, assuming you're right it does beg more questions. Namely why does KLD want them involved and how long does he want them involved for. My personal opinion on it is that he probably doesn't want them, but they probably refused to sell 100% of the club (as they hope to profit down the line from it) and he still thought it was a deal worth doing. If their shares aren't protected he can invest and slowly dilute them out. If that's wrong and he actually wants them around, well that really wouldn't go down well

the business plan he submitted to the league contained commitments for them to fund the club alongside him...so he must have been expecting them to be involved.