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Sunderland Finance (1 Viewer)

  • Thread starter Nick
  • Start date Nov 13, 2019
Forums New posts

Nick

Administrator
  • Nov 13, 2019
  • #1
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.
 
Reactions: SkyBlueDom26

jordan210

Well-Known Member
  • Nov 13, 2019
  • #2
what happened to them become the richest club in the world with the guy from Dell or something.
 

ccfc92

Well-Known Member
  • Nov 13, 2019
  • #3
Nick said:
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.
Click to expand...

Don't their parachute payments stop this season too?
 

pastythegreat

Well-Known Member
  • Nov 13, 2019
  • #4
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
 
B

block16

Well-Known Member
  • Nov 13, 2019
  • #5
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
  • Nov 13, 2019
  • #6
Decent review of their finances here

Sunderland AFC's 2018 Finances - Back to Back - FINANCIAL FOOTBALL NEWS

Seem to be in a deep hole and team performance is not helping

I wouldnt expect the 2019 or 2020 figures to be any better

The charge strikes me as a protection measure, which must mean the directors/owners are seriously concerned
 

MusicDating

Euro 2016 Prediction League Champion!!
  • Nov 13, 2019
  • #7
jordan210 said:
what happened to them become the richest club in the world with the guy from Dell or something.
Click to expand...

This is that 'investment' - Sunderland: US consortium invests funds in League One club definitely not a loan though...
 

jordan210

Well-Known Member
  • Nov 13, 2019
  • #8
MusicDating said:
This is that 'investment' - Sunderland: US consortium invests funds in League One club definitely not a loan though...
Click to expand...

So not the billions that some said would make them the riches club in the world
 

oldskyblue58

CCFC Finance Director
  • Nov 13, 2019
  • #9
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
 
Last edited: Nov 13, 2019

ccfcway

Well-Known Member
  • Nov 13, 2019
  • #10
is this any different to whats happening to us ?

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

eastwoodsdustman

Well-Known Member
  • Nov 13, 2019
  • #11
pastythegreat said:
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
Click to expand...
And they’ll blame us for it.
 

ccfcway

Well-Known Member
  • Nov 13, 2019
  • #12
eastwoodsdustman said:
And they’ll blame us for it.
Click to expand...

we have our own issues to worry about
 

MusicDating

Euro 2016 Prediction League Champion!!
  • Nov 13, 2019
  • #13
oldskyblue58 said:
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
Click to expand...

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...
 
B

Brighton Sky Blue

Well-Known Member
  • Nov 13, 2019
  • #14
pastythegreat said:
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
Click to expand...

Really is playing with fire. Hope they're 'ready to go' as and when the shit hits the fan
 
B

Brighton Sky Blue

Well-Known Member
  • Nov 13, 2019
  • #15
MusicDating said:
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...
Click to expand...

'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
  • Nov 14, 2019
  • #16
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

Rent remains within the group though i suppose
 
Reactions: Sky_Blue_Dreamer
B

Brighton Sky Blue

Well-Known Member
  • Nov 14, 2019
  • #17
oldskyblue58 said:
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
Click to expand...

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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