Charlie & the Big Don

I think we are seeing that Sunderland may not be the Golden Goose that some were expecting. £10m legal fees and players being sold to cover transfer repayments. If we are getting nervous about only getting Carruthers on loan then Christ knows how the signing of a second rate Turkish defender on a free is going down up there? I'm sure plenty of others will be coming in but they are still some way from tearing up League 1 as expected.
 
  • React
Reactions: Ian
Scotchegg said:
I think we are seeing that Sunderland may not be the Golden Goose that some were expecting. £10m legal fees and players being sold to cover transfer repayments. If we are getting nervous about only getting Carruthers on loan then Christ knows how the signing of a second rate Turkish defender on a free is going down up there? I'm sure plenty of others will be coming in but they are still some way from tearing up League 1 as expected.
Click to expand...

Sounds like our ideal signing 12 months ago. Particularly if he hasn’t played for two years.
 
Foley said:
Sinner what is the view in Sunderland at the moment?

People are presumably perplexed by the £10m legal fees that has suddenly appeared pout of nowhere? Very very odd.

I thought that Sunderland would have thrown their financial weight around and would have already taken a few of the best League one players. It looks like there have been a few leaving, the club are trying to offload more and you have taken on a Turkish Division 2 Centre Back?

Still you are almost evens with the bookies to go up!
Click to expand...
I can't speak for all but in general not too fussed. SD has explained the additional £10m worth of liabilities that have been discovered and he reckons it will be covered by previous owner. If not he will handle it and the loan application is precautionary in case it messes up his cash flow.

We are more excited about getting Sartori on board. Quote from the Big Don:

He (Juan) said that Sunderland could be a top 20 European club in the future. If we can sustain the club and enthuse him and his contacts, then it will be the right sort of benefit to the football club and he will want to compete at a higher level. If we can get his father in law onside and his other contacts, we will hope to compete with a Roman Abramovich or Sheikh Mansour.

Not getting carried away but ambition is no bad thing. We are not looking for capital from Sartori until we get promoted, hopefully in the next two seasons.
 
Scotchegg said:
I think we are seeing that Sunderland may not be the Golden Goose that some were expecting. £10m legal fees and players being sold to cover transfer repayments. If we are getting nervous about only getting Carruthers on loan then Christ knows how the signing of a second rate Turkish defender on a free is going down up there? I'm sure plenty of others will be coming in but they are still some way from tearing up League 1 as expected.
Click to expand...
On the whole we are ok with it. He's good on Youtube! We are sick of old mercenaries.
 
Colin B said:
I see Charlie's at it again. About two and a half minutes into the interview he says "One of the first things I did at my former club was to found the Yellow Army"

Really???
Click to expand...
Colin B said:
I see Charlie's at it again. About two and a half minutes into the interview he says "One of the first things I did at my former club was to found the Yellow Army"

Really???
Click to expand...
Did he not?
 
Sinner said:
I can't speak for all but in general not too fussed. SD has explained the additional £10m worth of liabilities that have been discovered and he reckons it will be covered by previous owner. If not he will handle it and the loan application is precautionary in case it messes up his cash flow.

Mmm.He this is that £TEN MILLION of liabilities 'have been discovered and reckons it will be covered by previous owners but if not ...'
There will have been a Sale and Purchase agreement a legal document that should make clear who pays.
It is the 'if not we will take out a loan' that would worry me.

Interesting that OUFC ground would cost what £12-£15m and yet at Sunderland they can simply take out a loan and don't seem bothered with a £TEN MILLION debt they appear to have missed in Due diligence.
Click to expand...
 
Sinner said:
https://rokerreport.sbnation.com/20...nt-regarding-the-times-finances-article-today

Might(?) make it clearer
Click to expand...

Sure clear as mud really.

There are £10M of liabilities that 'weren't anticipated'. This may not be £10M as Sunderland are going to try and negotiate. And the previous owner may have some responsibility for some of the £10M.

This means that external loans may or may not be required....

Considering that the new owners have been in charge for how many weeks (?) having short cash flow problems already is a little surprising?
 
Foley said:
Sure clear as mud really.

There are £10M of liabilities that 'weren't anticipated'. This may not be £10M as Sunderland are going to try and negotiate. And the previous owner may have some responsibility for some of the £10M.

This means that external loans may or may not be required....

Considering that the new owners have been in charge for how many weeks (?) having short cash flow problems already is a little surprising?
Click to expand...
We shall see - not made much of a stir up here. He has his budget and this £10m sits outside of that, I believe. Not sure there is a cash flow problem but I might be burying my head in the red and white sand.
 
Sinner said:
We shall see - not made much of a stir up here. He has his budget and this £10m sits outside of that, I believe. Not sure there is a cash flow problem but I might be burying my head in the red and white sand.
Click to expand...

CM's first interview ….. I'm sure he said, that HE spent a lot of time doing the due diligence (linked in with some comment about only 4 hours sleep a night). How effective was CM's due diligence work?
 
Two observations.

£3 million for a 20% stake seems low to me. When you consider the size of the club, the players on the books, the stadium and potential, it definitely seems low.

Why would they need to secure a £10 million loan from elsewhere? Just a short while ago, Donald was almost boasting about having tens of millions in the bank, that “many people didn’t think he had”. Well, does he or doesn’t he? If he needs to seek financial assistance from an external soure, it sounds to me like he might struggle to finance a club the size of Sunderland. If he was sitting on £40-50 million in the bank, or whatever it was, surely he could have easily fronted the money short-term and then repaid himself once they offload some of their players, which should be very, very soon.
 
Craig said:
Two observations.

£3 million for a 20% stake seems low to me. When you consider the size of the club, the players on the books, the stadium and potential, it definitely seems low.

Why would they need to secure a £10 million loan from elsewhere? Just a short while ago, Donald was almost boasting about having tens of millions in the bank, that “many people didn’t think he had”. Well, does he or doesn’t he? If he needs to seek financial assistance from an external soure, it sounds to me like he might struggle to finance a club the size of Sunderland. If he was sitting on £40-50 million in the bank, or whatever it was, surely he could have easily fronted the money short-term and then repaid himself once they offload some of their players, which should be very, very soon.
Click to expand...
I agree.A £12m valuation sounds good value for Mr S. IF Sunderland go up (which should be a given)
I too am surprised that £10m needs to be potentially borrowed having read some of the earlier comments.all a little odd.
 
NottsYellow said:
CM's first interview ….. I'm sure he said, that HE spent a lot of time doing the due diligence (linked in with some comment about only 4 hours sleep a night). How effective was CM's due diligence work?
Click to expand...
There would have been professional advisers on the finance and legal side.
The question is who pays for any liabilities that come out of the woodwork? SD doesn't sound sure and so the assumption is that it isn't clear in the agreement (if what is being said is the truth)
Regardless odd that within a month this comes up. What else could be out there (Sunderland have been seen as a basket case for a while)
 
Oh Charlie. Bless him - LOL. I hear he invented the light bulb and Henry Ford stole plans from him to make the Model T.

gif_temp-30.gif
 
Craig said:
Two observations.

£3 million for a 20% stake seems low to me. When you consider the size of the club, the players on the books, the stadium and potential, it definitely seems low.

Why would they need to secure a £10 million loan from elsewhere? Just a short while ago, Donald was almost boasting about having tens of millions in the bank, that “many people didn’t think he had”. Well, does he or doesn’t he? If he needs to seek financial assistance from an external soure, it sounds to me like he might struggle to finance a club the size of Sunderland. If he was sitting on £40-50 million in the bank, or whatever it was, surely he could have easily fronted the money short-term and then repaid himself once they offload some of their players, which should be very, very soon.
Click to expand...
He had to prove he had £50m spare to back up his business plan before he could get EFL approval. Leave the business strategy to him imho.
 
Sinner said:
He had to prove he had £50m spare to back up his business plan before he could get EFL approval. Leave the business strategy to him imho.
Click to expand...
This is a fans forum.
Whilst I am sure that SD will decide on the strategy we are all entitled to question his strategy and strange £10m here and there.
You could always go on the Sunderland forum where I am sure it is all sweetness and love of the new owners!!
 
You must log in or register to reply here.

Similar threads

West Oxon U’s
League One Charlie Methven & Charlton Athletic FC
2 3 4
Replies
76
Views
9K
Yellow River
Yellow River
Essexyellows
General Charlie Chino............
Replies
8
Views
2K
Essexyellows
Essexyellows
Sarge
League One Charlie's mongrels ?
Replies
0
Views
1K
Sarge
Sarge
D
Looks like Charlie has got his wish.
13 14 15
Replies
281
Views
56K
Gary Baldi
Gary Baldi
Y
General Big calls for 22/23
2 3
Replies
45
Views
5K
beyondthefourth
beyondthefourth
Back
Top Bottom