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FPP to take full control

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

  1. Blond Bombshell

    Blond Bombshell Well-Known Member

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  2. ROKER PARK

    ROKER PARK Well-Known Member

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    Pearly surely?
     
    #2402
  3. Bob Cheval

    Bob Cheval Well-Known Member

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    The way I see it is that SD was struggling beforehand to finance the club but was hoping for a windfall with a promotion and sale. Now, with no match day revenue but the same wage bill, he is going to be burning cash. Personally, I seriously doubt there was a realistic chance of a new buyer coming in and paying £40m. But no there is absolutely no chance. So FPP, who were already in prime position, are now the only game in town. The only negative is that they will have just seen a lot of their wealth take a hit from the stock market collapse but the costs of running SAFC are tiny for them.
     
    #2403
  4. Smug in Boots

    Smug in Boots Well-Known Member

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    They were interested in taking over a L1 club and, since the start, have invested time, effort and money.

    Apart from the virus, which is temporary, nothing much has changed.

    I doubt very much whether Donald's actions have made his position better or put them off SAFC of which he's a brief moment in our history.
     
    #2404
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  5. Kittenmittons

    Kittenmittons Well-Known Member

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    But that's what I was saying before, is he burning cash? He's only lost 3 matchday revenues, much of which is tied to season ticket revenue that already came in. Yes that may be a reasonable sum, but is it enough? Given we were projected to make a £5m profit this season, I don't think it will have ruined him at all.

    You have to factor in that we're in an unusual situation (for us), because 90% of our first team squad have no contract from July. That means if there is uncertainty in football, Donald can sit tight. I think I read we have 9 players contracted from July? That's before he may look for ways to cut all non-playing expenses in the current climate. He will have options he is not taking now regarding player wages, and some paths will come from above his head at the EFL eg: player furloughs and the like.

    Upshot? I think the chances of him moving soon are slim. I doubt he's paying out anything unmanageable on the players and staff he has currently. A surprising amount of our expenses are matchday related.

    The FPP situation is slightly different, because they'd be risking a lot of money (and they seem careful with cash) in an unknown. It's one thing to find yourself in a pretty **** situation and make the best of it, it's another to actively buy in.

    They may come on board one day, but I'd say that day is further away now than it was even at Christmas. Their world is burning, they don't have time for the role you're suggesting mate, from speaking to other high net worths. I'd be stunned if they're willing to do any of this without even being able to travel over, it says everything about how precarious the current situation is.
     
    #2405
  6. wtdog

    wtdog Well-Known Member

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    Promotion offers very little financial wise, its Premier or nowt
     
    #2406
  7. kingkeane

    kingkeane Well-Known Member

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    I think you'll get a shock as to how much trouble SD is in financially. Not just safc but his other businesses because of the current situation. Fan pressure will be even more unbearble and if he's not signing players it will turn nasty. Be very surprised if he's still the owner by next season.... whenever that is.
     
    #2407
    Last edited: Mar 21, 2020
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  8. Kittenmittons

    Kittenmittons Well-Known Member

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    I think it'll be the opposite mate. Yeah, he's disliked enough to make his exit very desirable for people, but there is no actual reason for this to prompt a quick exit unless someone - against all logic - is now offering an acceptable price. Like I said, he won't lose much between now and July. After that, he'll have a number of options and possibly more clarity on what football will attempt to do in September.

    If he's not signing players, I'd support that 100% and so should you. Anyone signing players right now is an absolute moron.
     
    #2408
  9. Smug in Boots

    Smug in Boots Well-Known Member

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    It might have helped if he hadn't issued a statement saying that was the reason we wanted a quick exit.
     
    #2409
  10. Kittenmittons

    Kittenmittons Well-Known Member

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    Sorry, I meant CV-19 doesn't materially change things in the near future. We know his stance on trying to leave at some point, but it's clear that it will be on his terms.
     
    #2410
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  11. Smug in Boots

    Smug in Boots Well-Known Member

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    That's where we disagree.

    His terms have changed so often I'm not even sure if he knows what they are ...

    ... I haven't a clue.
     
    #2411
  12. kingkeane

    kingkeane Well-Known Member

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    we’ll see. Regarding players there will be a window and whenever that is there’s no excuse not to sign them. The club isn’t sustainable in league one. Scrimping and scraping isn’t the way. If he’s not investing in players when the time is right to do so he should not have purchased the club. We’ve already seen that in January.
     
    #2412
  13. Kittenmittons

    Kittenmittons Well-Known Member

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    Under normal circumstances, nobody would disagree. I've said similar, but the reality is more complicated.
     
    #2413
  14. Smug in Boots

    Smug in Boots Well-Known Member

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    In my opinion there's one basic question here.

    If, as has been constantly repeated, FPP have no interest it owning the club why would they impose that option as a condition of the 'loan'? If they definitely don't want to own the club why on earth would they put themselves in that position?

    Is having a veto, on who Donald can sell to, really necessary in order to provide a loan ...

    ... I'm not in finance so have no idea but it seems bizarre to me.

    There are loads of so called supporters, on RTG, who insist FPP have never had any interest in a takeover. They make that claim based on zero information and blithely ignore someone like Alan Nixon who insists the Americans are still very much 'at the table'.

    It puzzles me why some supporters seem so desperate for this not to be the case.
     
    #2414
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  15. Agent Black Cat

    Agent Black Cat Well-Known Member

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    Any further updates from your sources Smug?

    Mad Bob (post on RTG last night 5pm) suggested there were two parties close to completing all their checks. Does he know CM and / or SD personally?
     
    #2415
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  16. kingkeane

    kingkeane Well-Known Member

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    Interesting it's being reported Dell's interest in Derby is similar to FPP. It's another loan secured against the club.
     
    #2416
  17. Smug in Boots

    Smug in Boots Well-Known Member

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    Since his 'certain facts' have fallen apart I've lost interest in what he says tbh.

    His last claim was that Donald paid back the loan ages ago but that appears to be untrue.

    Then there was the 'definite German takeover' that seems to have vanished into thin air.

    I'm sure he knows people at the club but it all sounds a bit like training ground gossip to me.

    I only have two credible sources who can give me info plus one very wealthy fella who has no interest in football but hears things 'by accident'. He just happens to use a professional group who also do work for the Americans. He's not the kind of person I could ever ask for infomation but it sometimes comes out in conversation.

    The other two are 'working people' one of whom is in the legal profession and the other in finance. The legal fella was involved with the due diligence and feasibility studies so his info was very exciting at first but virtually dried up now.

    The one who's involved in finance has quite a sum riding on the Americans taking over and putting their plans into action. You'll remember there was talk of redeveloping the area around the ground, etc. Obviously, if that was to happen, there would be lots of work to do and lots of people paid to do that work. He's already invested a chunk of money into a scheme that would return a large amount but his investment could be worthless if the Americans walk. I doubt any other buyer would carry out the proposals for the SOL and AOL. That's all I can say about that. He's the fella who I can ask if there are any developments but, as you can imagine, he's a bit touchy about things and I can't keep asking the same question.

    I thought I had a good contact, at a national newspaper, who is a woman with a name you might recognise. I used to pass her loads of celebrity gossip, and genuine info, when I was involved in security on the French Riviera, and also get her into the top parties and events. I never took a penny off her and thought she'd reciprocate but the info she got from 'the sports desk' turned out to be mostly nonsense. One of the few things she got right was that junior reporters use forums to instigate arguments then use the backlash as clickbait quotes. "Outraged Sunderland supporters claim striker Will Grigg has a coconut for a head" ... that kind of shyte.

    Sorry for the long ramble but I've had loads of pm's and texts, etc so this is a general answer covering everything I've been asked.

    Nixon is right, as far as I've been told, the Americans are still at the table and still have millions invested.

    I'll let you know more if anyone tells me first. otherwise I'll leave it to Nixon, Hetherington, etc.
     
    #2417
    Last edited: Mar 25, 2020
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  18. 6inarow

    6inarow Well-Known Member

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    I would say the money spent by the Americans for the surrounding area feasibility studies will now possibly be enhanced and look like money well spent after last week Sunderland council announced that the footbridge from the VAUX site is going to go ahead. They announced that they are spending £6 million on feasibility studies, where to put it, design and planning etc. Since the FPP interest was announced last year and subsequent loan I have always found it really coincidental (maybe adding 2+2 and getting 5) that Sunderland generation of the VAUX site had secured massive backing after 20 odd years of nothing. Maybe some people had talked to people - this is what we will do on this side of the water as long as you spend money on the other side - I don't know maybe i'm grasping a bit too tightly to a bit hope.
     
    #2418
  19. Agent Black Cat

    Agent Black Cat Well-Known Member

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    Thanks Smug. It’s clearly a waiting game, most likely an extended waiting game now. I just hope this gets sorted well in advance of the start of next season, whenever that may be.
     
    #2419
  20. Smug in Boots

    Smug in Boots Well-Known Member

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    I know this has gone on forever but you may remember I said the Americans wanted to do all kinds of things involving 'burger alley', Sheepfolds, the footbridge, etc but mainly by encouraging other people to spend money. It's the classic domino effect whereby various bodies improve an area which subsequently increases the value of their investment.

    Perhaps this is part of it, I've no idea tbh.
     
    #2420
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