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FPP to take full control

Discussion in 'Sunderland' started by Whiteleas Wanderer, Jan 19, 2020.

  1. Guinness Guzzler

    Guinness Guzzler Well-Known Member

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    I'm no expert but sadly I'd think the latter. I'm assuming they'd have bought Madrox or Sunderland Limited but FPP Sunderland would have been the company they'd have kept the shares in. Someone much brighter than me will no doubt give a better reply soon mind, just can't see this being a positive although I'd guess it does mean a sale to someone is close (they'd likely only get rid of the company when they know for certain they aren't buying, which is likely when they agree someone else can have it)
     
    #921
  2. SAFC CLUD

    SAFC CLUD Well-Known Member

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    Doesn’t look good
     
    #922
  3. HeatonMackem

    HeatonMackem Well-Known Member

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    They could still buy the shares either personally, or via another company e.g. the american company FPP Sunderland. But Like GG said, it's suggests FPP will not takeover - I doubt they would think it's a good idea to hold the shares in a UK company, then to change their minds and hold the shares in America.
     
    #923
  4. HeatonMackem

    HeatonMackem Well-Known Member

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    #924
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  5. Evil Jimmy Krankie

    Evil Jimmy Krankie Well-Known Member

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    I’ve said time and again that Sunderland have been mismanaged for decades. You’re probably just about old enough to remember when we tried to buy the league in the 1950s. That didn’t work. It has been all downhill since then. Alan Brown was brought in. He got us relegated. He managed it again a few years later.

    It’s only my opinion as a relative youngster but I still think we are a big club. They make it bloody hard year on year to keep me from losing that opinion though.
     
    #925
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  6. Nacho

    Nacho Well-Known Member

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    God knows what's happening but it certainly seems like something is.
     
    #926
  7. Ned Doig

    Ned Doig Well-Known Member

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    Could there be a takeover of Madrox by FPP people and therefore FPP sunderland no longer be needed??
     
    #927
    Nig likes this.
  8. Wibble

    Wibble Well-Known Member

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    I'd say it means they are off
     
    #928
  9. Guinness Guzzler

    Guinness Guzzler Well-Known Member

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    Thats the only straw I'm clinging to. Again, don't understand how it works, but if the loan is to Madrox, and all Madrox owns is SAFC, I'm guessing they could just buy Madrox and that stops Donald and co being responsible for paying it back, it basically ends up that it was an initial payment on the purchase. Not sure if that makes sense or if there'd even be any benefit in them doing it, but like I say it's a straw to clutch for a few minutes at least
     
    #929
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  10. The Norton Cat

    The Norton Cat Well-Known Member

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    It certainly looks like something is happening. But why the dismay at the possibility that its not FPP? Why does it matter if they buy us? It could mean that someone else, someone with more of a background in football is going to takeover.
     
    #930
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  11. Wibble

    Wibble Well-Known Member

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    Pie in the sky
     
    #931
  12. The Norton Cat

    The Norton Cat Well-Known Member

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    Why's that then?
     
    #932
  13. HeatonMackem

    HeatonMackem Well-Known Member

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    It could be but they wouldn't have set up FPP Sunderland Ltd unless it was the best way to take over. I guess if they were originally going to buy safc shares from Madrox, but are now just buying Madrox shares, they could just use Madrox as the holding company and not bother with FPP Sunderland.
     
    #933
  14. Wibble

    Wibble Well-Known Member

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    Pure guess work, reading it.
     
    #934
  15. Ned Doig

    Ned Doig Well-Known Member

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    Maybe as previously mentioned it's a way to write off the loan?? Who knows!
     
    #935
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  16. Guinness Guzzler

    Guinness Guzzler Well-Known Member

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    That's my hope. FPP Sunderland was set up first when they intended buying Sunderland limited and keeping the shares in FPP. Then things change and they invest (loan) to Madrox initially. Now they could buy Sunderland limited as intended but the loan would still need to be repaid by Madrox. So either they do that and pay £10m more so Donald can pay the loan off, or they simply buy Madrox which is already set up as a vehicle to hold the Sunderland shares. I just don't think there'd have been any rush to shut FPP Sunderland down though, they could have done that any time, so I'm guessing the much more likely scenario is we're being bought by someone else
     
    #936
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  17. Lucky19672

    Lucky19672 Well-Known Member

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    The RR speculation about Sartori could tie in with the strike off.

    They may not need the vehicle that is FPP, either pulling out completely or acquiring Madrox under a different guise.

    All up in the air.
     
    #937
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  18. Think it’s because any other buyer is unlikely to be as well heeled as FPP.
     
    #938
  19. Ned Doig

    Ned Doig Well-Known Member

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    Do you think they'll still be getting snippets considering they were involved in the post Boxing Day statements?? I'd doubt it.
     
    #939
  20. The Norton Cat

    The Norton Cat Well-Known Member

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    Well, yeah. Like I said, its speculation. Its not inconceivable though. He already owns part of the club and has a family background in owning football clubs.
     
    #940

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