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Saints sold to Sport Republic

Discussion in 'Southampton' started by - Doing The Lambert Walk, Jan 4, 2022.

  1. Saints FC 76

    Saints FC 76 Well-Known Member

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    Covid exemptions for Djokovic and Le Tiss to get entry to the directors box? <laugh>
     
    #241
  2. Saints FC 76

    Saints FC 76 Well-Known Member

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    Is Dragan Solak classed as our owner though? As far as I understood it, Kraft and Ankersen own Sport Republic, the company that now owns Saints, and Solak is their lead investor? I presume it is a Dragon's Den (no pun intended) type situation where Dragan puts up a certain amount for a certain percentage, while Kraft and Ankersen own and direct the company and are more involved?
     
    #242
  3. Itchen Masack

    Itchen Masack Well-Known Member

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    I think it does matter. Especially next time Broja scores and celebrates with the Albanian double eagle...
     
    #243
    ChilcoSaint likes this.
  4. oldstocktonsaint

    oldstocktonsaint Well-Known Member

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    A fedora is also required, with a feather. Or is that going too far? Nah, go for it.
     
    #244
    Lemons and Oranges likes this.
  5. Le Tissier's Laces

    Le Tissier's Laces Well-Known Member

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    Hey, Lincoln is a good egg really. He may have slightly skewed ideas regarding Ralph, but I’m pretty sure he wouldn’t want Semmens out. That’s utter madness.

    I mean, seriously, it disturbs me that there are actual people that exist, and purport to support our club, that think like that. Bizarre.
     
    #245
  6. Archers Road

    Archers Road Urban Spaceman

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    And Billy the Fish in goal
     
    #246
  7. tomw24

    tomw24 Well-Known Member
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  8. Ronnie Hotdog (MLsfc)

    Ronnie Hotdog (MLsfc) Well-Known Member

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    #248
  9. RSS

    RSS Well-Known Member

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    Not unexpected, but good to hear. Had to be dealt with sooner rather than later.
     
    #249
  10. SaintsFan86

    SaintsFan86 Well-Known Member

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    This is fantastic news for the longevity of the club, Wiping out majority of the debt is brilliant.
     
    #250

  11. Dark Lord SFC

    Dark Lord SFC Well-Known Member

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    That will be a very good idea as we are paying a ridiculously high interest rate on this loan (9%) which means circa £7m interest payment per annum, that’s nearly two Charlie Austin’s
     
    #251
  12. SaintsFan86

    SaintsFan86 Well-Known Member

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    Doesn't that kick In to effect from the 5th year? I think they will have it long gone before then. Don't forget wr only took it out 2 years ago.
     
    #252
  13. SaintMarv

    SaintMarv Well-Known Member

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    No there is also Laces <laugh>
     
    #253
  14. shoot_spiderman

    shoot_spiderman Power to the People

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    Interesting to see that despite the headlines we are now ‘owned’ by two Danes

    Bought with their money not leveraged from debt

    Martin Semmens has been central to the deal and is certainly no Turkey voting for Christmas

    “They think the same as we do” :emoticon-0148-yes:
     
    #254
  15. Schad

    Schad Well-Known Member

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    The payments on the principal* kicks in at that time, the interest would be ticking from day one.

    *It's actually always been unclear to me whether it was a term loan repayable starting in 2025, or the whole lot of £78.8m has to be paid by 2025. The wording in our accounts reads as if it's the latter. In any instance it was a loan taken out with the expectation that it'd be someone else's problem to deal with, heh.
     
    #255
  16. Lemons and Oranges

    Lemons and Oranges Well-Known Member

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    New Chant? "Two Charlie Austins, that's nearly two Charlie Austins"...
     
    #256
  17. SaintsFan86

    SaintsFan86 Well-Known Member

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    Which is probably why GAO sold so cheaply, Makes sense if it is the latter.
     
    #257
  18. RSS

    RSS Well-Known Member

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    Yeah nobody won from taking that loan out, but it was also necessary for us to keep on keeping on. Sure they would have been trying to sell up before needing to pay it back, but at the same time they would have known that meant selling at a much bigger loss. It is what it is though. Covid + owners with no money to spend isn't going to equal a positive outcome.
     
    #258
  19. Schad

    Schad Well-Known Member

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    That, and I suspect that we're going to find out that much of that loan has already been spent to keep us solvent. We not only had no easy way to pay it back, we were going to struggle mightily to even fund operations until it came due.
     
    #259
  20. shoot_spiderman

    shoot_spiderman Power to the People

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    Here’s a couple of quotes ...

    “The reason this one was successful was because we believe in their plan, and they believe in our plan. In the short term, it gives us security and clarity. In the long term, it gives us something to work towards that will make a real difference.”

    Asked whether Sport Republic has borrowed money against the club to purchase Gao’s stake, Semmens responded emphatically: “We wouldn’t have done a deal that way. Could we have done? Absolutely. But the risk is too high.

    “We would only do the deal with equity investment. They have done it with their own money, and that is so important to the club’s future.”
     
    #260
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