Sky Bet EFL 2019/20

[Lineker]

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Sunderland’s chairman, Stewart Donald, has described his decision to borrow £9m from a group of United States-based investors as a “win-win” scenario for the League One club and claims he and his co-owners, Charlie Methven and Juan Sartori, are shouldering all the risk.

Donald acknowledges that defaulting on the loan would hand control of Sunderland to FPP – a company established by three American billionaires, Glenn Fuhrman, John Phelan and Robert Platek, with links to Michael Dell, of Dell Computers – but said he had made the arrangement for the club’s long-term good.

When FPP put €12m into Sunderland last month Donald presented it as an investment but no fresh stake had been taken and the money was a loan to Madrox, the holding company which owns the club. The money is secured against assorted assets including the 49,000-capacity Stadium of Light and the Academy of Light, a state-of-the-art, Premier League-calibre training ground.

It initially appeared a high-risk remortgaging but Donald, talking to BBC Radio Newcastle, conceded that, were he and his co-owners to default on the loan, Sunderland would simply fall under the control of FPP.

The Americans would gain a club relegated from the Premier League in 2017 after a decade in the top tier for a bargain £9m, and the current owners would lose the money they have put into Sunderland since buying out Ellis Short in a complicated £40m deal last year.

“The investment we have got – or loan, if you want to call it that – is into our holding company Madrox, and that owns Sunderland in its entireity,” said Donald. “The money is secured against everything that Madrox owns.

“So the only exposure, in reality, is for Juan, Charlie and I, because if we don’t make good on the repayment, all that basically happens is – what quite a lot of Sunderland fans want, I think – is that the guys who have lent us the money will have control of Madrox. We’d lose the money that we have invested, that would go into the ether, and the American investors would get the lot.

“They have invested into us, we will invest that money in Sunderland, and if we don’t invest it well or if we don’t make any repayments on the terms we have agreed, then it defaults to them. It’s a win-win for the club. Sunderland has got no debt; the ones that have the debt is ourselves to the Americans.”

Sartori, a Uruguayan businessman, owns 20% of Sunderland, Donald has a 74% stake and Methven a minority holding. The chairman is confident they will not lose their investment. “It won’t be defaulted,” he said. “We can get the money. Juan could put the money in tomorrow, I could put the money in. I could have asked Juan –who indeed offered – to put in the same amount of money as FPP but the idea was to get these guys.”

Donald talked of FPP potentially investing in business throughout the north-east and dismissed suggestions he and his co-owners were “chancers”, out to make a fast buck.

“One thing that isn’t fair, that isn’t right, is that we have come here as chancers to cash in and take the money,” he said. “We could have quite easily walked away with £30m-plus profit in the summer – we’ve had a lot of people interested in the club – but we chose not to do that because the idea was to bring in quality investment. The Americans involved are globally reputable, they have wonderful connections.”

[Adam]

What could possibly go wrong.

[GA!]

In case you're wondering why Michael Jolley got the sack from Grimsby. From Grimsby Telegraph:

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A recording featuring former Grimsby Town manager Michael Jolley angrily blasting Radio Humberside in an expletive-laden rant has emerged on social media – and it may have even played some role in his exit.

Jolley was raging after the 4-0 home defeat against Leyton Orient last month – which turned out to be his penultimate league game in charge.

 

In the audio recording of the conversation following the game, Jolley can be heard confronting presenters Matt Dean and John Tondeur.

As well as hitting out at perceived negativity, Jolley also says ‘Have you seen our fxxxing budget? Have you seen our budget? Do you know where we fxxxing should be?’

BBC Radio Humberside broadcaster David Burns said on Twitter yesterday: ‘Aah, now the secret recording at GTFC seems to have emerged’.  And added  ‘I'm sure there are bigger issues, however I hear it was a big factor in his downfall.’

Jolley and Grimsby Town parted company by mutual agreement on Friday.

In the recording, Jolley starts by giving his general assessment of radio coverage to presenter Matt Dean, before getting more personal.

He said: “You are a fxxxing disgrace as a collective. Outrageous. The fxxxing negativity around this football club.

“You are antagonistic, confrontational.  You’re an absolute fxxxing disgrace of a journalist.

“Do your fxxxing research. Ask a straight question. You try your fxxxing best? You are antagonistic, fxxxing patronising, arrogant.

“This fxxxing radio station gives us no fxxxing positive coverage whatsoever.”

He later adds: “You’ve got no boxxxcks. You are snide, going behind people’s back.”

He also points out: “You people could be going to fxxxing Braintree. Or fxxxking Borehamwood.”

The exchange took place in the press room at Blundell Park - before the actual press conference had started. It was recorded in secret by an unknown party and leaked on social media over the weekend.

 

Ah dear. And the Chairman's comment on the incident:

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Grimsby Town director John Fenty has lifted the lid on the series of events that led to Michael Jolley’s departure as manager.

Mr Fenty confirmed that a four-minute off-the-record rant at Radio Humberside presenters after the 4-0 home defeat to Leyton Orient started the ball rolling that led to Jolley’s exit.

Jolley blasted Radio Humberside presenters Matt Dean and John Tondeur, and also criticised their colleague David Burns, in an expletive-packed tirade – which was recorded and later brought to the attention of club directors.

Fenty – speaking in a video interview on the club’s official website -  said the outburst was enough to merit disciplinary action. But Jolley ‘could only see it going one way’ and agreed settlement and the parties reached a mutual agreement that the Town boss would leave.

Fenty said he was particularly  concerned about Jolley's comments about the club’s budget. He also said that while he accepts that tempers can flare, ‘the scale of eruption’ from Jolley was too much.

In the video, Fenty says: “The club and personnel at the club haven’t bathed themselves in glory.

“We had this issue following the Leyton Orient game where we lost 4-0 and tempers flared up.

“It’s fair to say a little bit of a rant took place between the manager and particularly BBC Radio Humberside.

“In that context, which was a few weeks ago now, the board of directors knew nothing of it.

“Roughly ten days ago it surfaced that there was a video in play, there was a recording of what happened.”

Mr Fenty also added that Radio Humberside had complained about the rant.

“After listening to what was said, it is matter of fact that the club would need to take disciplinary proceedings,” continued Fenty

“That began with a form of investigation. That’s how it all came to light.

“There was an altercation down the tunnel as well, which I won’t go into as the investigation found that one quashed and reasonably answered.

“But there was a need for a disciplinary hearing that was due to be heard last Friday.

“Michael came to me on the Wednesday morning and his view was he knew where this was going. We saw an opportunity for a compromise agreement of leaving on mutual grounds.

“He wasn’t sacked. We are really disappointed with the whole affair.

“On a personal level I was particularly concerned and disappointed there was mentions to the budget and goading the press - suggesting they should have said something about the budget in the past.

“I find that a strange comment. However, when things aren’t going well on the field it is a pressure cooker and we do give allowance to things that erupt over.

“On the scale of eruption, it’s clear that the football club had to go through a disciplinary process and anybody that thinks otherwise needs to think again.

“I’m not suggesting that it would have concluded in gross misconduct and then dismissal – but at the end of the day Michael assumed that it would only go in one direction and sought mutual settlement which we arrived at.”

On Radio Humberside, Fenty added: “I was shocked and stunned. It was a serious tirade.

“I have had my problems with Radio Humberside in the past. They do needle, they don’t look for positive elements  and they do certainly position things so it gets people the sack.

“However when you have just lost 4-0, that is not the time to pick a fight with the local radio station.”

 

[Cymbols]

*GrimsbyLive 

#onbrand

[Szumi]

Apparently PSG's oil owners are in big talks with Leeds about buying the club. 

[Lineker]

Quote

Charlton owner Roland Duchâtelet has agreed to sell his stake in the Championship club to East Street Investments.

The 73-year-old Belgian’s unpopular spell in charge of the Addicks will come to an end if the deal is approved by the Football League.

East Street Investments chairman Matt Southall said in a statement: “We are privileged to take ownership of such an historic club and it is incredibly exciting to be part of the process of building a fresh future for the fans, loyal club staff and players of Charlton Athletic.

“While we may be the club owners, truly we are only the custodians. The true spirit of this football club rests with the fans, it is nothing without them. Their support throughout some difficult times both recently and in the past has been inspirational and we intend to build on that loyalty.

“Our priority will be immediate contact with fan groups in order that their views play a major role in the club going forward. We believe the football side of the club is in excellent hands with Lee Bowyer and what he and the players have achieved following promotion has been outstanding. We will do everything possible to support Lee’s vision and ambitions.

“We would like to thank Roland Duchâtelet, his team and the directors for helping to facilitate a quick and smooth sale. They leave the club with solid foundations on which we can invest and build.”

[Lineker]

Cunt in cunt shocker:

The former Macclesfield manager Sol Campbell wants the club to be wound up because debts have not been paid, a judge has heard.

Judge Catherine Addy was told on Wednesday that Macclesfield owed a “very large” amount of tax and owed Campbell more than £180,000.

Tax officials have asked for the club to be wound up and Campbell, who is now the manager of Southend, supported that application, lawyers told Judge Addy.

The judge was given updates on the League Two club’s debt problems at a hearing in the specialist Insolvency and Companies Court in London. She said Macclesfield should get time to clear debts and said the case would be reconsidered on 18 December.

Barrister Raj Arumugam, who represented HM Revenue & Customs, asked the judge to make a winding-up order. He did not say how much tax Macclesfield owed but the judge said the sum was “very large”.

Barrister Philip Currie, who represented Campbell, said Macclesfield owed his client about £182,000. He said Campbell also wanted the club to be wound up.

Barrister Sam Hodge, who represented Macclesfield, told of money transaction difficulties. He said there had been issues moving “large sums” from a director’s account in Spain. Mr Hodge said a payment made to HMRC had “bounced back”.

The judge said if “banking transaction problems” continued she wanted them to be explained in detail in writing.

Addy earlier adjourned a case involving Bury until 18 December. Lawyers representing HMRC had made an application to wind up the club.

I get wanting that considerable sum (although is it? If you used to be a top-level international footballer?) of money owed - but you're pushing for a community to lose its football club and dozens and dozens of people to be put out of a job - right before Christmas. 

 

Tory scum.

[Bobfoc]

Sol Campbell owns properties worth an estimated combined £50 million. He wouldn't even notice an extra £180,000. To want to take away people's livelihood for the sake of slightly boosting your already unnecessarily vast wealth is greed and nothing more.

[Just Joe]

I wanna fucking die

[Lineker]

Macclesfield have been docked six points for the non-payment of wages and failing to fulfil their fixture against Crewe.

[hugobomb]

Macclesfield postpone their next match after getting a "zero capacity" notice

 

The EFL has already threatened "serious consequences" if the match doesn't go ahead

[GA!]

This screams of stitch-up. Why are EFL so interested in fucking over these clubs?

[lanky316]

Get rid of them, put in the big boys reserve teams.

[GA!]

Toro Rosso FC

[Adam]

We've only gone and done the double over Fergie. Peterborough are comfortably the league's top scorers, and we've beaten them 2-0 and 3-0. Merry Christmas indeed.

[FestiveJack]

Good win against Cheltenham, hopefully our games in hand will help us push on. 

[Arjen Robben]

Not sure how we've just gone and beaten the team joint top who haven't lost at home all season. Three wins in a row 

[DavidMarrio]

Absolute stonking goal 

[MDK]

Pick that one out

[GA!]

Grimsby have announced Ian Holloway as their manager. Happy New Year! I think this could be the first time we've ever had a manager with previous Premier League experience.