Sunderland Finance (1 Viewer)

Nick

Administrator
Looks like they have just secured a loan against their club, stadium and training facitilies



If they don't get promoted, they may be properly fucked.
 

ccfc92

Well-Known Member
Looks like they have just secured a loan against their club, stadium and training facitilies



If they don't get promoted, they may be properly fucked.


Don't their parachute payments stop this season too?
 

pastythegreat

Well-Known Member
Hope to fucking god they dont go up. They'll be following Bury straight out the trap door if this gamble fails.


Sent from my SM-N960F using Tapatalk
 

block16

Well-Known Member
If we beat them they’ll have a huge mountain to climb psychologically and points wise for Autos. Would love to see it
 

oldskyblue58

CCFC Finance Director
The thing i would be concerned about is that the security given is many times the loan of £10m .......... it is disproportionate

Also who are FPP Sunderland? Seems it was only incorporated in September 2019 by three USA residents. They say the same ownership of the club remains but the charge effectively gives FPP control of the assets - split the assets from the liabilities ..... now where have i heard that before. It looks like they now control the properties and the shares Madrox has in Sunderland Ltd and following on from that the Sunderland Ltd shares in Sunderland AFC
 
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ccfcway

Well-Known Member
is this any different to whats happening to us ?

(apart from the fact we don't have any assets)
 

MusicDating

Euro 2016 Prediction League Champion!!
The thing i would be concerned about is that the security given is many times the loan of £10m .......... it is disproportionate

Also who are FPP Sunderland? Seems it was only incorporated in September 2019 by three USA residents. They say the same ownership of the club remains but the charge effectively gives FPP control of the assets - split the assets from the liabilities ..... now where have i heard that before. It looks like they now control the properties and the shares Madrox has in Sunderland Ltd and following on from that the Sunderland Ltd shares in Sunderland AFC

Gonna cost £10m to fix the lift apparently - EXCLUSIVE: Charlie Methven discusses Sunderland’s investment, transfer window & scouting plans

But they're now debt free! - Stewart Donald explains the consequences of Sunderland's FPP loan deal

As you say OSB, it smells of deja poo...
 

Brighton Sky Blue

Well-Known Member

'There are some confidentiality [agreements] around it but I will explain it as best I can, very simply the money has come in and it is secured against everything that Madrox owns.'
 

oldskyblue58

CCFC Finance Director
The statements from the directors are the usual kind of thing from football directors to their fans. There are a lot of words but says little...... quite patronising

Why if they have their own resources do they need an outside loan? Makes me think that they dont have the resources, given the security on offer the loan of £9m isnt a large figure.
Why does it need to be secured on all Sunderland assets? The Stadium alone has a value of £93m in the 2018 financials but the £9m is secured on much more than that.
What has been done with the £9m lent to Madrox? If their company madrox lent the money on to Sunderland ltd and Sunderland AFC then that would be a debt wouldn't it so cant be debt free (given the football club didnt have any loans outstanding in the 2018 financials)
It is a bit disingenuous to say they remain fully in control when there are conditions, risks and securities from a third party.
Also less than transparent saying ask FPP their intentions, its the Sunderland directors intentions people want to know about and they have just secured all club assets to cover a debt for another part of the group

Interesting to that Sunderland Ltd which owns Sunderland AFC Ltd state
upload_2019-11-14_10-57-0.png
Rent remains within the group though i suppose
 

Brighton Sky Blue

Well-Known Member
The statements from the directors are the usual kind of thing from football directors to their fans. There are a lot of words but says little...... quite patronising

Why if they have their own resources do they need an outside loan? Makes me think that they dont have the resources, given the security on offer the loan of £9m isnt a large figure.
Why does it need to be secured on all Sunderland assets? The Stadium alone has a value of £93m in the 2018 financials but the £9m is secured on much more than that.
What has been done with the £9m lent to Madrox? If their company madrox lent the money on to Sunderland ltd and Sunderland AFC then that would be a debt wouldn't it so cant be debt free (given the football club didnt have any loans outstanding in the 2018 financials)
It is a bit disingenuous to say they remain fully in control when there are conditions, risks and securities from a third party.
Also less than transparent saying ask FPP their intentions, its the Sunderland directors intentions people want to know about and they have just secured all club assets to cover a debt for another part of the group

Interesting to that Sunderland Ltd which owns Sunderland AFC Ltd state
View attachment 13427
Rent remains within the group though i suppose

He goes on to say that if he fails to repay then the Americans would gain control. What would they likely do with it in such a case?
 

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