FPP to take full control

The only reason for FPP to ask Donald to write off the debt would be if they were going to buy Madrox

 

I can see the beads of sweat forming on SD’s forehead as we speak. Who could gain from this being leaked and who would have access to the accounts to leak them??

 

Change FPP to "Any Buyer"

 

Agree but the club have said it was FPP

 

A disgruntled staff member perhaps.

 

So the debt owed by Sunderland AFC Ltd to Madrox has been waived.
Madrox no longer has a debt due to it from SAFC Ltd but the value of its shares in SAFC Ltd has increased by the same amount.
So anybody buying Madrox wouldn't really care about an inter-company debt.
Whether it exists or not, the value of Madrox is the same.
And would a gift from Madrox to SAFC bypass the FFP rules somehow?
Just thinking out loud.

 

All of which is reasonable, but in response:

If you gave me £100 to pay your electricity bill, and I agreed to pay it back because there was a benefit to me in paying the bill, would you ask me for the £100? Or if I then said that the debt didn't exist, would you feel aggrieved?

And on the second point, it is more that this wasn't a realistic option from the moment Donald came on board, because of the way Short railroaded it into his own company (Drumaville).

We can all agree the £20m may have helped pay something off, but ultimately, Donald agreed to pay it back and is now removing any legal obligation to do so. If you think that's a non-event at this point in our history, where £20m or even £10m would likely have a huge impact on our future, then sorry, I respectfully disagree. Understand what you're saying though.

 

Totally agree with you about this. As I think we've discussed before, either club and the NE as a whole should be a massive draw for billionaire owners. Unfortunately, neither club has been run to reach its potential and the NE doesn't do a great job of selling itself.

 

Very few from madrox or Safc would have access to them. They would however be made available to potential buyers as part of due diligence I would have thought.

 

And this, in its way, is yet another opportunity for them.

They can make money from the region away from the clubs due to the complete lack of foresight, particularly on Wearside.

 

Yes.

I think the information originally came from Mark Campbell, and someone at the club has leaked the accounts because they're concerned. That's my guess. I'm sure there are good people in SAFC who are troubled by the way we're run.

 

Interesting article. I'm not disputing that the valuation is too high. I'm just saying that this Mail article everyone is getting so upset about doesn't really tell us anything we didn't already know.

 

Agreed.

 

And Mark Campbell comes across as someone who can be trusted?

 

Agree, read some of the posts on the other channel and noticed someone having a go at grumpy old man, who I find to be one of the decent, knowledgeable and level headed posters

 

No. Not at all. Again, I haven't said that, just giving myself opinion of where some of this info is coming from.

 

It will be very interesting to see if Donald puts out a further statement this weekend in response to The Times and Daily Fail articles. Likely further detail on how they plan to put the £20.5 back into the club.

This has probably already been said, so apologies if so, but I assume this is why the sale price is set at £35-£40, as they would plan to put the cash back in at the point of sale. Unless they said **** it! We will just keep it.

Probably good for FPP takeover as the £11.5 put back into SAFC by Madrox must include the FPP loan.

 

If he was smart he wouldn’t, as it will be full of contradictions and gaping holes.

He’s not smart. So he will.

Baffles how he has been so successful in business.

 

Excellent article this. Some of the details will inevitably be wrong as in any external assessment, but I think he's got the jist of it right. I'd love to know where the FPP money is. It went into the club, but it would be possible to get it out again if it hasn't been spent.

The only thing I can't get my head around is FPP spending $12m on a loan to us, but not going up by just a few million (which in their world is peanuts) to get the full asset, if that's what they wanted to do. That's why I think there's some chicanery at work by all parties in this and a number of businessmen are playing games to try and inflate their own wallets from our misfortune.

 

I'll ask this again. Has it ever been proven as fcat that this is the sale price that SD is asking? There have been a lot of assumptions from various people as to what they realistically expect it to be but has it ever been confirmed as fact?

If it hasn't then i'm afraid that people are totally getting their knockers in a knot about nowt.