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Sunderlands debts were paid off by Short the new buyer didnt want to be lumbered with them.
Our running costs are in the accounts which you can get online. Pretty accurate reporting though horc although im sure Grigg would go for more than a mill.
Sunderlands debts were paid off by Short the new buyer didnt want to be lumbered with them.Our running costs are in the accounts which you can get online. Pretty accurate reporting though horc although im sure Grigg would go for more than a mill.
I would be absolutely amazed if Ellis Short has cancelled the nigh on £70m that was owed to him AND paid off the £70m owed to the bank all to receive just £40mill back from the new owners (a loss of over £100m)
And if you believe the new owners he has agreed to take that £40mill back in stagesI know how it’s being reported but I ain’t buying it. Not for a second. Doesn;t make any sense whatsoever
If the debt is to him then maybe he is happy to lose it just to get rid of the club.
Does seem daft though when you put it into context.
That’s the thing though – it isn’t.
Half of Sunderland’s debt is owed to him whilst the rest is owed directly to a bank.No matter show rich he is, whilst I can see him converting the debt owed to him into something else & cant see him paying off the £70mill owed to the bank just to get £40mill back in dribs and drabs.
It’s insane & something doesn’t sit right with what the new owner is saying about the deal. Other things I’ve read about it would make much more sense
I just have my doubts about this whole takeover melarky , I hope Im wrong. They are a company that lease and buy hotels and looking at last years accounts it’s hardly a company with the so called billions. The board members might be wroth that but that doesn’t mean jack poo if it’s not invested into IEC.
I can see some of the land having a hotel built on it in the not so distant future. Few back handers to the council (as they do) and up it goes. Try getting a 2 stroey extension on your house and you’ll have to contact the Queen to get approval
have a read:
http://www.ientcorp.com/attachment/pdf/1513670174J7gmg.pdfNone of us would be decent supporters if we didn’t have any concerns after what Dave Whelan has delivered.
Wolves fans would have had the same concerns a short while ago when taken over by a Chinese consortium and look at the season they have just had and the rewards they have gained.
One of the worst things that could possibly happen is for us to end up as a non league club again but hey ho who remembers that? It wasn’t that bad really was it!One of the worst things that could possibly happen is for us to end up as a non league club again but hey ho who remembers that? It wasn’t that bad really was it!Oh it was
One of the worst things that could possibly happen is for us to end up as a non league club again but hey ho who remembers that? It wasn’t that bad really was it!
Oh it was[/quote]
No it wasn’t we had some great days, the Manchester United of non league football
I just have my doubts about this whole takeover melarky , I hope Im wrong. They are a company that lease and buy hotels and looking at last years accounts it’s hardly a company with the so called billions. The board members might be wroth that but that doesn’t mean jack poo if it’s not invested into IEC.I can see some of the land having a hotel built on it in the not so distant future. Few back handers to the council (as they do) and up it goes. Try getting a 2 stroey extension on your house and you’ll have to contact the Queen to get approval
have a read:
http://www.ientcorp.com/attachment/pdf/1513670174J7gmg.pdfThe Council in Chorley must be doing ok then. Pull buildings down to build car parks. Leave unsightly buildings to rot. Re-plenish car parks that were already car parks, yet build on green belt land all over the Borough. Promise this that and the other to sweeten residents so they
can build even more houses on amenity areas but don’t deliver anything but promises.
A similar picture all over I suppose.
IGuys, Mr Whelan is a brilliant business man and also the family are true Latics fans. I’m pretty sure he will not want this fabulous club to go into decline. He will have done his very own due diligence to ensure he has sold the club to owners that he himself as a fan is happy with. He undoubtedly has done his homework on these guys.
Like I said, just look at Wolves. They will want to match what has happened there and reap the rewards.
Guys, Mr Whelan is a brilliant business man and also the family are true Latics fans. I’m pretty sure he will not want this fabulous club to go into decline. He will have done his very own due diligence to ensure he has sold the club to owners that he himself as a fan is happy with. He undoubtedly has done his homework on these guys.They can do all the checks they want but once the sales done Whelan has no say what so ever and within reason they can do as they please council permitting. That should be easy enough once they get their bag of HK dollar.
Don’t forget, their main business is leasing so I wouldn’t be shocked at a few pop concerts at the DW.Granted, the board members are very rich men but this IEC is a separate entity from their wealth, a cheap way to get into UK football and what their getting is a club with the ground , training facilities and know how for the Prem.
I just hope I’m wrong with my doubts and Cook gets a chunk of dosh to strengthen the squad.Guys, Mr Whelan is a brilliant business man and also the family are true Latics fans. I’m pretty sure he will not want this fabulous club to go into decline. He will have done his very own due diligence to ensure he has sold the club to owners that he himself as a fan is happy with. He undoubtedly has done his homework on these guys.
They can do all the checks they want but once the sales done Whelan has no say what so ever and within reason they can do as they please council permitting. That should be easy enough once they get their bag of HK dollar.
Don’t forget, their main business is leasing so I wouldn’t be shocked at a few pop concerts at the DW.Granted, the board members are very rich men but this IEC is a separate entity from their wealth, a cheap way to get into UK football and what their getting is a club with the ground , training facilities and know how for the Prem.
I just hope I’m wrong with my doubts and Cook gets a chunk of dosh to strengthen the squad.[/quote]So they will knock down the stadium,training ground and all other land acquired to build hotels at the cost of millions and hope they can turn a profit in a few years. OR they can try to gain promotion and land hundreds of millions guaranteed. Mmm wonder which way they will go.
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