robm

Think ours for the relegation season was £25million

breaking down the latest (16/17) SAFC accounts. It's pretty scary reading if you are a mackem. Even with Short wiping out the loan I wonder if he has settled all the outstanding owed on players which looks like £21 million for next year with £3million coming in.

You could be right https://www.sunderlandecho.com/sport/football/sunderland-afc/stewart-donald-will-be-majority-shareholder-as-duo-emerge-as-managerial-frontrunners-1-9146808 Stewart Donald will become a majority shareholder in Sunderland should the EFL approve his purchase of the club from Ellis Short. Donald has agreed a deal to front a consortium of international businessmen and it is understood he will be the main investor with other parties taking a more minor role. The Eastleigh owner is preparing for a hands-on role in the club and will make appointing a new manager his first priority after the dismissal of Chris Coleman on Sunday morning – with Chris Wilder and Michael Appleton believed to be leading contenders Donald’s personal wealth significantly exceeds the £8.4million figure mooted in recent days but he is determined to make the club more sustainable financially. The latest club accounts will underline the scale of that challenge with Ellis Short continuing to fund significant monthly losses. Sunderland’s revenue streams will be affected again by relegation to League One. Donald has always been a visible presence at Eastleigh and is likely to adopt the same approach on Wearside as he looks to turn the club’s fortunes around. Michael Appleton. Michael Appleton. The appointment of the right manager will be key, with Wilder, Michael Appleton and Mick McCarthy among the bookies’ favourites. The former two are well known to the new regime and they are certain to be under consideration, depending on their availability. The Echo understands that the pair are by no means the only names in the frame at this early stage, however. Wilder has enjoyed two hugely successful years in charge of Sheffield United but recently raised doubts over his future as the Blades endure a protracted takeover process of their own. Wilder oversaw Oxford United’s return to the Football League before taking over at Northampton Town and winning the League Two title. His move to boyhood club Sheffield United brought an end to the club’s long exile in League One and they have been in play-off contention for much of this season. The 50-year-old admitted last Saturday that he was considering his future. He said: “This is my city, my football club. I have worked extremely hard to get in this position, I am ambitious. I believe in the ability of myself and my staff. “I want to go forward with this club, but I can’t do it all on my own. If it stays the same, I don’t think anybody would be surprised if I didn’t question where my career was going. “I want to progress my career, the careers of the staff and the players – and most importantly give the supporters some hope we can have a genuine football club with a strategy and plan to move forward.” Appleton is assistant to Claude Puel at Leicester City but during his time in charge of Oxford United oversaw promotion from League Two and two runs to the Checkatrade Trophy final before narrowly missing out on the League One play-offs. At the time of his departure he said the chance to return to coaching in the Premier League was too good to turn down. No appointment is likely until EFL approval is granted, with Donald hopeful that will come quickly and allow him to begin what will be a significant summer of rebuilding. Kevin Phillips has been heavily linked with the role, but, at this stage, there is little prospect of a managerial rookie being appointed.

From the comments

Pardew wouldn't even come out of the dugout at the games near the end. No way would he dare come back.

When the pitchside clocks were removed it seemed to kill it.

"Not during the match but......had a very strange experience at the station. On the steps down to the platform six guys who had seen my City shirt and were just a foot behind me started singing "We clap with our hands, we clap with our hands.." I thought they must be Newcastle (despite being fairly legible) but ended on "Coventry City, we clap with our hands". I noticed some Police at the bottom of the stairs just as it was intensifying and thought "mmm, Coventry City, if only there was the slightest of things I could nit pick at in that strutting stormtrooper of a well organised football club", resulting in a medley of "We are Premier league....we own our own ground.....we won the league" etc. Got down to the platform and there's a crowd of lads ahead of me, I say to them "Can you believe this, Coventry fans trying to take the piss out of us?". To my surprise they were Geordies but backed me up straight away.."Coventry? Didn't they lose 6-2 to Yeovil on Monday?" I replied loudly, "yeah and then to the local girl guides team on Wednesday" which brought applause and laughter from the platforn, police and all. The Chaventry fans went to their platform shouting something about my hair loss as 6 on 1 had become 6 on 51. Got talking to the Geordies about our clubs, a great bunch. Banter from them, a team that have just beaten us would have been expected, a comment on clappers fair enough, but from random Chaventry fans only here for a connection, when their club is a million miles away from being where we are at, a very strange and lucky for me the other lads were pro Leicester (went on to say how much they respect our achievements) or it could have ended differently! Coventry! Enjoy the clapping with hands at your consolation goals vs Yeovil (and St Agatha's under 14's)!" Canny

I wouldn’t. I mean I expect things to happen quickly, but I suspect running a bath will be a lot quicker than the completion of the takeover. You can certainly go out and buy some fresh Dove and Tresemme though.

This. Was a great night. Whole stadium was rocking.

On this note would it make sense for them to go into admin this season when they're all but dead but not quite? Get the penalty this season rather than next. I have no pretense to be a financial expert, but what I have gleaned is... It is currently costing Short £20m per season to keep the club afloat and he wants rid as soon as possible. He is willing to virtually give the club away to anyone willing to take on the club and its other £30m of debt secured against the parachute payments, writing off the remaining debt owed to his company. Administration would allow Short to simply walk away, the administrators would look to find a new owner, who would be liable to pay the secured creditors (including the £30m) and 30% of what is owed to the unsecured creditors (including Short's company). Going into administration before the 22nd deadline would mean that the club doesn't end going into next season with a points deduction, which would almost certainly lessen the chances of finding a buyer. Unless I'm completely wrong in the above (which is a distinct possibility) if relegation is still looking inevitable on the 22nd there may be significant benefits for Short in pulling the plug and putting the club into administration. The external debt is £68million secured against the parachute payments isn't it? The rest of the debt is owed to Short so he would be writing his own money off which doesn't make sense to me. Makes perfect sense - he's had enough. He was trying to sell it for a quid (which is effectively the £68million JB was talking about). That's why they can't be sold, because that's a big pile of cash for a fucking shite club staring at League 1. And yeah, it's only mortgaged, but they're bleeding cash. Administration is the smart move if they're punished this season not next - if they wait until next season having been relegated with Premier League wages still on the books then they're completely fucked. But he could easily write his own debt off anyway by converting it to shares as I understand it without the points deduction. He can't write off the external debt so what does he gain?

On this note would it make sense for them to go into admin this season when they're all but dead but not quite? Get the penalty this season rather than next. I have no pretense to be a financial expert, but what I have gleaned is... It is currently costing Short £20m per season to keep the club afloat and he wants rid as soon as possible. He is willing to virtually give the club away to anyone willing to take on the club and its other £30m of debt secured against the parachute payments, writing off the remaining debt owed to his company. Administration would allow Short to simply walk away, the administrators would look to find a new owner, who would be liable to pay the secured creditors (including the £30m) and 30% of what is owed to the unsecured creditors (including Short's company). Going into administration before the 22nd deadline would mean that the club doesn't end going into next season with a points deduction, which would almost certainly lessen the chances of finding a buyer. Unless I'm completely wrong in the above (which is a distinct possibility) if relegation is still looking inevitable on the 22nd there may be significant benefits for Short in pulling the plug and putting the club into administration. The external debt is £68million secured against the parachute payments isn't it? The rest of the debt is owed to Short so he would be writing his own money off which doesn't make sense to me.

;D

This is a very valid point. I think they'll leave it as late as possible, as you never know what will happen, but I can really see that if they're looking likely to go down they'd do it this year rather than next. Right before the cut-off date. Won't happen this season. No benefit for either Short or the loan company. This time next year if they have the same board then it would be nailed on. Apart from the loan secured on the parachute money all the rest of the debt is to short. So why would he go into administration?

Would be fucking mint. Pity he wasn't on the last one to chin Wise

The first reply The whole thread is great.

Come back you t*** . Sorely missed. Meh, that's not even his name any more. ?

Come back you twat . Sorely missed.

None. No way would I consider supporting them no matter how bad Newcastle get and they will be the same. Shields is getting plenty of Sunderland supporters though.

What various consortiums? There is PCP and some made up shite by Ashley to try to get her to bump up her bid.

Excellent tonight. Better performance than I thought he was capable of. Ran out of steam a bit at the end but really good.

Won't be for me as I'll have washed my hands of the club. It'll be dead to me. Same for me. Really think that Ashley needs to be getting some stick now. I know it's tricky with the potential new owners but I think he is getting away with murder again.

I think Ashley must be taking the offer seriously after all the fuck ups he's made with the club. Yet again we are looking like being in a relegation fight without big spending. This could be his best chance to get his money out for years.

Funny was thinking exactly this vintage car metaphor today. He's a chancer who is trying to get top money for something which needs major spending to be worth his valuation.