RTG

Trouble is in the current climate and add in confused, annoyed fans comments like yours which could well be entirely accurate and correct will only stoke the fire

 

Being very simplistic wouldn't they just reduce their offer by any potential debt ?

Anyway it's all hyperthetical neither you nor I know the full details but I'm sure we will find out in the fullness of time, it's not going to keep me awake tonight that's for sure

 

I haven't posted so much recently, over the road, but when I do post, I try to be constructive in any criticism of the ex manager's tactics, or the glaring lack of quality in our play.

I suppose some, would construe my posts, as repetitive, or even negative, but, I post, because I 'm concerned at what I see on the pitch, which tbh, is pretty poor, and has been poor since November/December, of last season.
What I won't do, though, is dish out personal abuse, about Ross, or the players.
Criticism is one thing, but for me, personal abuse, is unwarranted.

 

That could potentially be an issue of negotiation. That's my point overall, that because he hasn't paid this back yet (despite having the money to by his own admission) it is still on the table and could cause issues for a new owner if Donald doesn't want to/feels he shouldn't have to pay it

 

Just one question
How do you know that he hasn't paid it back?
Hang on second question
How do you know that he personally had it?

Clearly you have your opinion on this matter and nothing I say is going to change your view so if you don't mind we shall leave it there.
I need my beauty sleep, but as my wife would say there aren't enough hours in the day to make me beautiful
Goodnight

 

1. The last information from SD or CM said that it hadn't been and that it would be a point of discussion in any takeover (June RAWA notes)
2. He said as much in the Roker Rapport podcast numerous times on May 28th -
   - 1:56:29 if the timestamp doesn't work for you.

Goodnight!

 

What i'm struggling to understand as frankly it's over my head.

If SAFC owed SBC 20 million and that money was transfered to Madrox to pay the debt what's the issue? The debt was SAFC's wasn't it?

If Madrox own SAFC then all SAFC's assets theoretically belong to Madrox so can't they utilise them as they see fit?

If Madrox had payed the debt using their own money then wouldn't SAFC have then owed Madrox 20 million?

As i said, it's over my head.

 

1. The debt was acquired by Madrox as part of the takeover. The debt had previously been Ellis Short's and was used because Donald did not have £40m cash (by his own admission)
2. They can. This is about whether the best use of the club's money, at a time when we are not flush with cash, is to be loaning it to our owners and replacing it with debt that they have no repayment schedule for.
3. No. It would have meant that the parachute payment money would have simply remained in the club and we would have the amount owed as a cash reserve, earning interest today.

 

Would it have been earning more interest than the interest owed if Madrox had borrowed the money from a 3rd party?

If not then wouldn't make sense to do it they way that they supposedly have?

 

Finding this forum was like a breath of fresh air
Football supporters debating football in a civilized manner on a football forum
Whatever next

 

There were at least two other options for that debt btw:

The debt could have been bought by Madrox and then refinanced by Donald so that he had less interest to pay during the period he paid it off.

or

he could have paid the £20m he had in the bank to Short, leaving a £5m outstanding balance. This could have either sat on the books of Madrox unpaid (around £425k of interest per year that Donald would need to pay), refinanced (for a better interest rate) or paid off over the course of the year. In a worst case scenario, the club could have loaned Madrox £5m.

Both of these options are a net £20-25m benefit to SAFC, as the club's money would not be used.

 

The confusion here appears to be that SAFC was not responsible for paying that debt. If SD had borrowed £25m (a stretch in fairness) from somewhere else, the interest would be irrelevant to us as a club as it would not be accrued by SAFC. That debt is Madrox's responsibility. We have simply loaned them the cash to pay off their own debt.

What makes it difficult to stomach for me is that according to Donald, there is no schedule for that money to be paid back, and he controls both of the parties involved in the transaction.

 

Good question to be brought up to him, shame he's no longer on twitter.

You will have to get yourself along to the next talk in and see what he says.

 

The problem with KM and GOM is they both bring something to the table but each needs taking with a pinch of salt.

GOM has a hell of a lot more experience and doesn't venture beyond common sense. He's more of an old Volvo estate.

He's cautious to the point of hiding information he can't fully explain or would cause bother (the missing £20m) so there's a feeling that he might be protecting others instead of giving the full picture.

Now, KM, he's more of a Ford Escort modded by a 17 year old. Loud, impressive range of knowledge but about as safe as a Turkish surgeon.

Where GOM hides knowledge KM uses it as a deadly weapon even when he doesn't fully understand what it means. He caused chaos last time talking about parachute payments and unidentified transactions in the accounts and again this time.

The fallout from his invisible dossier of evidence generated plenty of abuse towards Stewart Donald and counted towards Roger pappering his slacks then threatening to close the site.

With that in mind, both are canny sources of information

 

They’ll adjust the purchase price if they write down the debt as it’s not hidden. It’s either a lot more complicated than I think or you’re making it more complicated than it is

 

It's possible that Donald could ask them to absorb some of his debt as part of their purchase.

After all, the previous owner got him to do it

 

I have a money box worth £1 that had £10 in it and I want you to buy it for £11. Now I’ve taken £5 out of it and I still want £11 for it - is that what you’re saying

 

Yes, in a nutshell.

 

Some people are saying 'over the road', or words to that effect, when talking about RTG. Shouldn't it be 'round the bend', because generally that's where it sends you!