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FPP to take full control

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

  1. sheepman

    sheepman Well-Known Member

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    #2561
    smithy in nl likes this.
  2. Hedley_safc

    Hedley_safc Member

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    Lots of buzz over the road about a news article In the chronicle tomorrow or Saturday, the pms are getting thrown about.... Please be good news
     
    #2562
    Blond Bombshell likes this.
  3. Dave_39

    Dave_39 Well-Known Member

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    Bob knows **** all man FFS he bullshitter
     
    #2563
  4. Ozzymac

    Ozzymac Well-Known Member

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    Well Flash looks like he's had the PM so hopefully he might share
     
    #2564
  5. Iansun

    Iansun Well-Known Member

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    It's the old pm bollocks
     
    #2565
    Dave_39 likes this.
  6. 6inarow

    6inarow Well-Known Member

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    It sounds like an article is going to be released concerning the loan, it sounds like its getting paid back but over installments from what I can decifer
     
    #2566
  7. Blond Bombshell

    Blond Bombshell Well-Known Member

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    The end of the dream. Boom goes the monorail
     
    #2567
  8. Ozzymac

    Ozzymac Well-Known Member

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    Who needs a monorail, i want to see a travelator <party>
     
    #2568
    Blond Bombshell likes this.
  9. Kittenmittons

    Kittenmittons Well-Known Member

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    Yeah although it's not automatic, they are obliged to do it in a timely manner (off the top of my head I don't recall a specific time) and they'd needlessly be causing issues by bot doing so.

    @smithy in nl they can't sell without FPP's permission, that is right. As above, the charge sheet (which you can find in the Madrox filing history on companies house) has a few covenants that relate to it. Obviously, the likelihood would be that at least one of FPP or a new buyer would object, which would mean that Donald would need to pay it back.

    Once it's paid back Donald is free to do as he pleases again.
     
    #2569
    Roppa and smithy in nl like this.
  10. Kittenmittons

    Kittenmittons Well-Known Member

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    Hi, anywhere I can read about this?
     
    #2570

  11. 6inarow

    6inarow Well-Known Member

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    #2571
    Kittenmittons likes this.
  12. Roppa

    Roppa Well-Known Member

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    Well bob has admitted he got the loan bit wrong,apparently it’s all in the chronicle today or tomorrow.
     
    #2572
  13. Comfy

    Comfy Well-Known Member

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    Still wouldn’t believe the chron
     
    #2573
  14. 6inarow

    6inarow Well-Known Member

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    From Bob on RTG, @Kittenmittons @Bob Cheval @Smug in Boots
    Privvy to any of this?

    this to answer most of it, I IMHO was led to believe that the loan/investment was being paid back, you will see from todays statement how things have changed, I was not made privy to some of it. so sorry for that.
    I understand the finance situation will show what its cost us since day 1 with the 3 amigos. and how we are the only club in div 1 and 80% of the championship with no debt and a decent bank balance, inc the repayable short term LOAN as it is now deemed/ called.
    The other bit i now understand is way different to what most know about or we think is happening.

    Sounds interesting - the last bit
     
    #2574
    Last edited: Apr 3, 2020
    Kittenmittons likes this.
  15. Smug in Boots

    Smug in Boots Well-Known Member

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    Not at all mate, I've heard nothing about the loan being short term and can't see the point of it in that case tbh.

    As for "... I IMHO was led to believe that the loan/investment was being paid back".

    This is where Bob goes wrong. He was shouting at people, and calling them idiots, for disputing that the loan had already gone back.

    He was so insistent that I asked the question and was met with a terse NO!

    This suggestion that we're in great shape, debt free and money in the bank is nonsense imo ...

    ... if that were the case we wouldn't be in the mess we're in and borrowing money.
     
    #2575
    sheepman, ISOE II, alan reed and 2 others like this.
  16. Kittenmittons

    Kittenmittons Well-Known Member

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    Bob seems to be speaking in riddles about something and I can't make head nor tail of it. I'm going to guess that he's referring to the club accounts though, which are due this month.
     
    #2576
  17. Dave_39

    Dave_39 Well-Known Member

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    he trying to cover his arse for be found out lying IMHO there mate
     
    #2577
  18. flandersmackem

    flandersmackem Well-Known Member

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    In STID 2 Donald admitted from the onset that he pretty much couldn't finance the club and it needed inward investment, but he still wanted to keep control. The club is financially crippled with Donald, our outgoings are not sustainable with things as they are. He either sells up....quick...or I can see (especially under the current CV circumstances ) SAFC going into financial meltdown. Donald simply does not have the clout. He banked on promotion first time round...it didn't happen.
     
    #2578
  19. Sunderpitt

    Sunderpitt Well-Known Member

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    I assume this is correct Donald has to repay loan before he sells. Will the new buyers give him a loan to do this? It s bank?
     
    #2579
  20. Confucius

    Confucius Well-Known Member

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    This, he even said it would cost £25m if we were to spend a second season in League One.
     
    #2580

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