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Discussion in 'Sunderland' started by Smug in Boots, Dec 5, 2019.
Less of the bastard eh, I am a known ****
who was that pukka prick ?
Oh I thought that was just on RTG, I thought you’d been downgraded on here lad, my apologies.
Well that was entertaining for a Sunday morning. Not quite up there with Ruiz v Joshua, though, but lively all the same.
Think we just had a glimpse of why RTG is so caustic...no real debate,
At least they were both prepared to jump into the ring ....
... whereas that idiot is only able to talk out of his
Blimey. Seemed like a nice chap...
This thread took a turn there.
Take it your Pukka Pad?
Worra gimp you are..
Because of bell ends like you...
You dint get banned fir lying on here. You do get banned fir targeting individuals and disrupting threads!!!
He's a known ****er mag over on RTG been banned many times.
Keeps coming back under different users or pretending to be a Sunderland fan to have sly digs... pathetic and sad really.
I don’t know the MSD people myself but I have a friend who works for a different private equity firm in Santa Monica. My understanding is that there was a deal. But like any deal, it is subject to due diligence and nothing is complete until it is final. The main issue is that, as I was motivated to say in my original post, SD massively overpaid for SAFC. So the only way a deal could have gotten done would have been for SD to write off £10m or so.
Maddrox is basically worth zero. It has a lot of debt and one asset which is bleeding cash. The correct price for the club was closer to zero plus the parachute payments not £15m plus the parachute payments.
That is the main issue. The MSD guys aren’t going to pay the sort of price that would see SD break-even, let alone turn a profit. The only way SD can get his money back is if SAFC can get into the Championship and then someone probably would be prepared to pay enough to cover the money SD has put in and pay off the debt.
So people should get off SD’s back. His interests are the same as the fans. What I think he has realised is that he doesn’t have enough cash to guarantee promotion and he is already looking at a £10m hit. He can’t afford to lose £20m. So the £10m from MSD is a halfway-house. If that money is enough to get SAFC into the championship, then maybe the club is worth £40m+. That is enough to pay off the debts for Madrox and have a tiny bit left over. If he can’t get the club promoted, then Madrox will be bankrupted and be taken over by the MSD guys.
So MSD will end up taking over regardless in two years. The only question is whether SD loses his shirt or breaks even. The fans should be hoping he breaks even as that would mean promotion.
For MSD, the price is either £10m or £40m, depending on which league they are buying it in. It probably suits both sides. Easier to justify investing fresh capital into a championship side.
So you can all lay off SD and lay off SmuginBoots as well. MSD have given SD a chance to break even which is fair enough, he didn’t pick the club up for nothing - which is the whole issue, he overpaid. And Smug was correct but the sands shifted. The takeover will still happen - just will be a couple of years away.
I have probably said too much. I only created an account as the misinformation about SD was annoying me too much. Will probably delete it now. Feel free to ignore this if you like, not a problem. I am just looking forward to the next series on Netflix, it will be entertaining.
good luck you mad Mackems. It’s been emotional.
Going back to the methven tape,
What has been interpreted as "Uneducated Sunderland fans"
Actually was "MOST Sunderland fans are uneducated in BUSINESS TERMS".
Although a slightly crass supercilious statement, lets face it, how many supporters operate in high rank big business areas ?
As a PR man he maybe good in his circles but us working man are on a different playing field.
Whether or not he feels contempt for us i dont know but he got involved and I would like to think he realises most supporters have at least a modicum of intellect and can debate a subject in a sensible manner without resorting to childish name calling etc.
Oh and all the best to him and his mrs and expectant baby.
The salmon trousered Tory ponce
Anyone unable to see the veracity of what you're saying needs to open their eyes.
You've been one of the most honest people I've ever seen on a forum and it's obvious you have much more to say but can't.
I'm in a similar position although my information came to me by accident whereas I know you're connected.
I'd advise everyone, on this board and any other, to reread everything you've posted.
Thanks for everything, you have my gratitude.
That's fair dos. But if SD is so desperate to get into the championship then why employ a crap recruitment team, have basically no scouting set up, then to top it all off bring in a Moyesesque appointment like Parkinson that the majority of people thought would be an unimaginative, cheap, uninspiring appointment from day one. I actually like Donald and think his intentions are honourable, particularly the off the field stuff. When it comes to the actual football side of it, it's been quite frankly awful. All my opinion of course.
I don't know SD, I don't know MSD, I don't know any of them. Whether SD is capable of getting SAFC into the Championship or not is an open question. All I know is that he isn't a 'chancer', he's put £10m of his own money into the club which is currently down about £9.75m at best and he has basically agreed to hand the club over to MSD and write the whole lot off if he can't get the club promoted.
So all I would say is that he clearly is doing his best and people should have his back, not be on his back. Maybe he isn't as rich as some people would like but from my vantage point, he has sunk a pretty large % of his net wealth into SAFC and all he is currently trying to do is break even before handing it over to MSD. I don't have £10m but I would probably also like to get it back if I had bought SAFC.
But SAFC will be okay. It won't go bust and be liquidated as SD has moved all the debt to Madrox. So if the owner of SAFC goes bust, it gets handed over to MSD. So he has actually done the honourable thing. All he seems to have asked for is a chance to get his money back by earning promotion. Which no one would think is unreasonable.
I suspect the fact that they over-paid in the first place has led to some tension between SD and CM. SD is the one who has money at risk, CM simply had a free option. But CM shares are in Madrox not the club. And Madrox is worth nothing at the moment.
Everyone should chill out. Long-term, SAFC will be fine, they are in a good spot, hard though it might be to see at the moment. SD said he wanted to turn the club around, find new owners who can take it forward and he has basically done that. What I don't think he expected was to take this big a hit financially. But people should look at the MSD loan for what it is - it is effectively SD saying 'I can't risk losing another £10m but if that money is enough to get us up, then I can probably break-even and hand the club over to MSD/FPP. If it isn't enough (or I'm not capable of making it work), then I will take the hit and hand it over to MSD/FPP anyway.'
So my advice if get behind him and the club. His success is your success. The takeover is going to happen, the only question is at what price and in which division. He didn't steal the club, he overpaid. He isn't blocking a deal, he has locked in a deal and given himself a time limit to get it to a better place, I have no idea whether the new manager is a good choice or not. Personally, I thought Ross looked quite promising last season so I would have been inclined to keep him on. No one is the best they will ever be at their job in the firstcouple of years. But it is unlikely SD is making deliberately bad decisions.
I don't really know how much SD is worth but wealth is not the same as having cash on hand. He owns an insurance business but unless he sells it, it is not a liquid asset. It's like owning a house without having a mortgage. You have wealth but that is not the same as having cash on hand. I suspect that is the spot SD is in - he has already emptied the cash coffers. He might still be 'worth' £20m or £40m - who knows. But he doesn't have it in cash. So he has to borrow it.
Didn't he sell his insurance business a few month back and moved his leasing business up here.