loki679 Posted November 13, 2019 Share Posted November 13, 2019 So they bought the club using the marrachute payments and about £8m of their own money. Have so far 'loaned' themselves £10m from the clubs money and have just pocketed another £12m secured against the club to 'fix the lifts'? They're already £14m up, fucking hell Link to post Share on other sites More sharing options...
SteV Posted November 13, 2019 Share Posted November 13, 2019 So they bought the club using the marrachute payments and about £8m of their own money. Have so far 'loaned' themselves £10m from the clubs money and have just pocketed another £12m secured against the club to 'fix the lifts'? They're already £14m up, fucking hell Yeah, but is the club self-sufficient? If it's not, and it certainly wasn't anywhere near that when they took over, someone's footing those losses, and they mount up pretty quickly. There's a reason they need to go up or get shot of it come the end of the season... Link to post Share on other sites More sharing options...
Disco Posted November 13, 2019 Share Posted November 13, 2019 So they bought the club using the marrachute payments and about £8m of their own money. Have so far 'loaned' themselves £10m from the clubs money and have just pocketed another £12m secured against the club to 'fix the lifts'? They're already £14m up, fucking hell Yeah, but is the club self-sufficient? If it's not, and it certainly wasn't anywhere near that when they took over, someone's footing those losses, and they mount up pretty quickly. There's a reason they need to go up or get shot of it come the end of the season... Be surprised if it's anywhere near being self sufficient and one of their main income streams vanishes next year. Link to post Share on other sites More sharing options...
SteV Posted November 13, 2019 Share Posted November 13, 2019 So they bought the club using the marrachute payments and about £8m of their own money. Have so far 'loaned' themselves £10m from the clubs money and have just pocketed another £12m secured against the club to 'fix the lifts'? They're already £14m up, fucking hell Yeah, but is the club self-sufficient? If it's not, and it certainly wasn't anywhere near that when they took over, someone's footing those losses, and they mount up pretty quickly. There's a reason they need to go up or get shot of it come the end of the season... Be surprised if it's anywhere near being self sufficient and one of their main income streams vanishes next year. Exactly, and if anybody thinks these two are hanging round to keep footing the bill the way Short did, they've got another thing coming. Link to post Share on other sites More sharing options...
Guest covmag Posted November 13, 2019 Share Posted November 13, 2019 Sunderland till we die Soon Link to post Share on other sites More sharing options...
Consortium of one Posted November 13, 2019 Share Posted November 13, 2019 Yeah, they've turned on him completely... https://www.readytogo.net/smb/threads/donald-on-bbc-newcastle.1493883/page-2 Link to post Share on other sites More sharing options...
Sima Posted November 13, 2019 Share Posted November 13, 2019 Some still think this as a shrewd move by FPP and they always want to take the club on board for a lower price. When they have control of the club, then the extravagant spending will start. Of course, the far more likely scenario is that these two dafties default and FPP start charging them extortionate rental fees. Link to post Share on other sites More sharing options...
Guest covmag Posted November 13, 2019 Share Posted November 13, 2019 Yeah, they've turned on him completely... https://www.readytogo.net/smb/threads/donald-on-bbc-newcastle.1493883/page-2 Might ring in Link to post Share on other sites More sharing options...
Unbelievable Posted November 13, 2019 Share Posted November 13, 2019 Oh dear. Absewlewtly huge split in their fans too. Some have finally turned on White English Don and Charlie Thatcher but some still adore them for their politics and views of us. Hang on, didn’t their PR guru claim in an interview last week this wasn’t a loan and not a penny would have to be repaid..? Edit: hang on #2, from what I’m reading this contract is against the club’s parent company rather than the club itself. Could even be the two charlatans are using it elsewhere than to put into the club, or am I missing something. All sounds quite fishy the way this is unfolding. Best case for them the Americans take control and put a plan in place to revitalise the club. Any other scenario and this nudges them closer to the abyss. Link to post Share on other sites More sharing options...
Unbelievable Posted November 13, 2019 Share Posted November 13, 2019 Another example of unfit people taking over a football club and abusing their position for their own benefit (or at least trying to) . Aye its funny because it is the Mackems, but a good example of the way the sport is turning to shit. Link to post Share on other sites More sharing options...
Wolfcastle Posted November 13, 2019 Share Posted November 13, 2019 I just get the horrible feeling they're lucking out again and getting someone to cover their loss making and financial dope them higher than their natural level. Getting investment for no reason at all. All the more so because we're being held back by our b*stard and how good NUFC and the area could be by comparison to them. I'd take my chances on both outfits punching their weight (club size, income, support) Link to post Share on other sites More sharing options...
Disco Posted November 13, 2019 Share Posted November 13, 2019 Yeah, they've turned on him completely... https://www.readytogo.net/smb/threads/donald-on-bbc-newcastle.1493883/page-2 Going down like a fart in a lift, sounds like he’s struggling to remember what yarns he needs to spin as well as it being on Radio Magcastle. Link to post Share on other sites More sharing options...
xLiaaamx Posted November 13, 2019 Share Posted November 13, 2019 I just get the horrible feeling they're lucking out again and getting someone to cover their loss making and financial dope them higher than their natural level. Getting investment for no reason at all. All the more so because we're being held back by our b*stard and how good NUFC and the area could be by comparison to them. I'd take my chances on both outfits punching their weight (club size, income, support) Thats because Donald and Methven are constantly spinning things this way. Whenever anyone digs deeper on their words and dealings, It always turns out they've been peddling shit. Sartori was meant to be the rich saviour last year. Link to post Share on other sites More sharing options...
Stifler Posted November 13, 2019 Share Posted November 13, 2019 Aren’t the FA or EFL complaining about Derby selling their stadium to get around FFP? If they throw the book at Derby, they could very well throw the book at Sunderland. Link to post Share on other sites More sharing options...
Unbelievable Posted November 14, 2019 Share Posted November 14, 2019 I still can’t get my head around this deal. This from an article posted a few pages back: Asked what they were getting for the money they've put into the club, the Black Cats' executive director said: "I do not want to speak for them and their intentions, but obviously I am delighted they have decided to support us and we can now put their money to good use for the club. "The terms of the deal are confidential between the two parties, but Sunderland won't ever have to pay any money back. If they don’t ever have to pay any money back, why is the “investment” secured against their assets? And why also the statement that it was irrelevant to the club, when it evidently isn’t. I’m starting to think they may have ended up with worse owners than even wor own fat overlord, the poor souls. Link to post Share on other sites More sharing options...
mickthemagpie Posted November 14, 2019 Share Posted November 14, 2019 Perhaps the money is to build the hotel 'The Don' mentioned awhile back. Think the figure mentioned for that was £10 million. Link to post Share on other sites More sharing options...
TK-421 Posted November 14, 2019 Share Posted November 14, 2019 'The Don' was on Totalsport last night explaining this 'investment' deal... first time I've heard him speak, and he sounds very much like David Brent. He claims Sunderland fans should be happy with this 'investment' as all the risk is on Maddrox, the company he and Charlie Methhead own. So if they don't repay the 'investment', then the club in its entirety default to FPP, and it becomes "the takeover with new american owners that Sunderland fans were so excited about in the summer". By the time he'd finished, the SAFC fans forum member was right up his hoop again. Link to post Share on other sites More sharing options...
mrmojorisin75 Posted November 14, 2019 Share Posted November 14, 2019 'The Don' was on Totalsport last night explaining this 'investment' deal... first time I've heard him speak, and he sounds very much like David Brent. He claims Sunderland fans should be happy with this 'investment' as all the risk is on Maddrox, the company he and Charlie Methhead own. So if they don't repay the 'investment', then the club in its entirety default to FPP, and it becomes "the takeover with new american owners that Sunderland fans were so excited about in the summer". By the time he'd finished, the SAFC fans forum member was right up his hoop again. without reading the details sounds like he's loaned £10m or whatever and intends to pay that back via promotion/sale of the club when it's more valuable again? same plan as when he took it in the first place Link to post Share on other sites More sharing options...
1964 Posted November 14, 2019 Share Posted November 14, 2019 I might be a bit thick on such matters but how is the entire risk on Maddrox? They have £10m of the Americans money and if they don't repay the Americans get Sunderland. That's like saying I'll take £100 of your money but if I don't pay it back you own this dog turd. I've still got your £100 and you've got a dog turd Link to post Share on other sites More sharing options...
TK-421 Posted November 14, 2019 Share Posted November 14, 2019 'The Don' also confirmed that they (Maddrox) had a 2 year plan when they took over Sunderland. Year 1 - make the play-offs... year 2 - Promotion. So it seems they are pinning their plans/hopes on promotion or bust this season, and it'll be very interesting to see what happens if (hopefully when) they don't go up. Link to post Share on other sites More sharing options...
Minhosa Posted November 14, 2019 Share Posted November 14, 2019 'The Don' also confirmed that they (Maddrox) had a 2 year plan when they took over Sunderland. Year 1 - make the play-offs... year 2 - Promotion. So it seems they are pinning their plans/hopes on promotion or bust this season, and it'll be very interesting to see what happens if (hopefully when) they don't go up. That doesn't tie up with what he said when he took it over as, from memory, all bets were on an instant promotion. Link to post Share on other sites More sharing options...
Disco Posted November 14, 2019 Share Posted November 14, 2019 He's a pathological liar. So is Charlie Thatcher. They desperately need to spin some yarns about being attacked by mags, a brown person or that Diane Abbott is stopping them buy Harry Kane. Link to post Share on other sites More sharing options...
Danh1 Posted November 14, 2019 Share Posted November 14, 2019 Surprisingly he made a positive comment about our fans last night on Total Sport, must be a Mag. Link to post Share on other sites More sharing options...
Unbelievable Posted November 14, 2019 Share Posted November 14, 2019 I might be a bit thick on such matters but how is the entire risk on Maddrox? They have £10m of the Americans money and if they don't repay the Americans get Sunderland. That's like saying I'll take £100 of your money but if I don't pay it back you own this dog turd. I've still got your £100 and you've got a dog turd Link to post Share on other sites More sharing options...
Paully Posted November 14, 2019 Share Posted November 14, 2019 Surprisingly he made a positive comment about our fans last night on Total Sport, must be a Mag. No way?! What?! Link to post Share on other sites More sharing options...
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