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Old 8th May 2018, 14.07:39   #1-0 (permalink)
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Default Sugar Daddy needed - again?

No, not at Wrexham, but at Eastleigh (in all likelihood.)

It may be old news by now, but an "international consortium of football investors", led by Eastleigh chairman Stewart Donald, will take over at Sunderland subject to EFL approval.

Donald put £10 million into Eastleigh who - remind me? - finished in 14th place - below us - despite the massive investment he made during his 6 years of ownership.

In April, he said “I have put an awful lot of hard work and money into Eastleigh and I have ambitions of getting them in the Championship.
“If for any reason this deal looks different to all the others put on my desk, this club is debt free and run a certain way and there is no way on this earth I would ever jeopardise Eastleigh’s future over making some pounds somewhere else.”

The multi-millionaire arrived at Eastleigh with ambitions of taking them to the Football League. By his own admission he made mistakes in spending too much money and over-paying players to achieve that, while similarly to Short’s approach at Sunderland, he also brought the axe down on a number of mangers rather easily during his tenure.

He says that Eastleigh is debt free - which might well be the case despite his "investment" (that word again.... what does he gain by selling them now?) Unless it means that Eastleigh, like Oxford United, his previous "hobby" were simply stepping stones to greater fortunes for him as a part-owner of Sunderland.

How fast things change when "investors" see a brighter tomorrow elsewhere...

Thank God we don't have that to worry about at Wrexham. Who will pay those inflated player salaries at Eastleigh next season? They may have no debt today, but tomorrow???
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Old 8th May 2018, 14.27:37   #2-0 (permalink)
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Default Re: Sugar Daddy needed - again?

so he put loads of money in, got them promoted several (?) divisions and has left them debt free.

Why is this being sneered at?

An example of a sugar daddy bringing huge benefits to the football club. Imagine what could happen at a proper club like ours, instead of a tin pot outfit like Eastleigh.
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Old 8th May 2018, 14.29:19   #3-0 (permalink)
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Default Re: Sugar Daddy needed - again?

Its just like BTB being needed again though. another injection of additional finances to support the playing budget and bring better players in.

The difference is that we have the fan base doing it whereas some clubs have a sugar daddy.
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Old 8th May 2018, 14.50:40   #4-0 (permalink)
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Default Re: Sugar Daddy needed - again?

The difference with Eastleigh is that without another person willing to put in large amounts (e.g. £10m) they won't be able to honour their contracts or sustain football at this level, debts will quickly mount up and they will likely drop back down the leagues or cease to exist. Our model doesn't rely on a single individual so, in theory, is sustainable in perpetuity.
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Old 8th May 2018, 15.10:46   #5-0 (permalink)
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Default Re: Sugar Daddy needed - again?

From looking at their accounts it seems that the £10m is just what he's put into the club since they were promoted from the Conference South.

So for all his investment he's got them one promotion, mid level in the National league and is leaving them while they're currently losing £2.5m a season. Could be a big clear out this year.

Taking Krux's point of view into account, that type of investment into a club like ours could see us improve exponentially and we'd still be in a decent position if they walked away as long as they didn't call the debt in.

Swings and roundabouts and all that.
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Old 8th May 2018, 15.31:46   #6-0 (permalink)
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Default Re: Sugar Daddy needed - again?

Quote:
Originally Posted by Omni View Post
From looking at their accounts it seems that the £10m is just what he's put into the club since they were promoted from the Conference South.

So for all his investment he's got them one promotion, mid level in the National league and is leaving them while they're currently losing £2.5m a season. Could be a big clear out this year.

Taking Krux's point of view into account, that type of investment into a club like ours could see us improve exponentially and we'd still be in a decent position if they walked away as long as they didn't call the debt in.

Swings and roundabouts and all that.
Love to know where all that money went , sounds like a tax fiddle to me .
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Old 8th May 2018, 15.48:27   #7-0 (permalink)
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Default Re: Sugar Daddy needed - again?

Quote:
Originally Posted by Omni View Post
From looking at their accounts it seems that the £10m is just what he's put into the club since they were promoted from the Conference South.

So for all his investment he's got them one promotion, mid level in the National league and is leaving them while they're currently losing £2.5m a season. Could be a big clear out this year.

Taking Krux's point of view into account, that type of investment into a club like ours could see us improve exponentially and we'd still be in a decent position if they walked away as long as they didn't call the debt in.

Swings and roundabouts and all that.
Thats the key question, but it doesn't seem to be the case here
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Old 8th May 2018, 15.49:28   #8-0 (permalink)
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Default Re: Sugar Daddy needed - again?

Quote:
Originally Posted by Corner Flag View Post
Love to know where all that money went , sounds like a tax fiddle to me .

Massively overpaying wages I'd imagine.

The money was introduced as share capital so the yearly losses have been depleting it although they probably still have about £2.5m left in the shareholders funds if you extrapolate the figures from the last published accounts.

This is why they are debt free, however, if they continue to operate with the same losses of previous seasons they'll be broke by next summer.
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Old 8th May 2018, 15.52:56   #9-0 (permalink)
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Default Re: Sugar Daddy needed - again?

Quote:
Originally Posted by krux View Post
Thats the key question, but it doesn't seem to be the case here
It isn't as all the money he's put in is in the form of shares.

Apparently he's not asking for any money for his shares either so the future of the club depends on the intentions of the new owner and how big his pockets are.

I suppose that's the difference between the likes of Eastleigh and us.

If a sugar daddy pulled out and left us with shareholder's funds of £2.5m, we could cut our cloth accordingly and manage just fine while someone with the fan base of Eastleigh could end up going bust in a couple of seasons if they didn't cut costs dramatically.

Big question is though is why do all the sugar daddies support tin pot clubs?

Last edited by Omni; 8th May 2018 at 15.57:10..
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Old 8th May 2018, 15.59:52   #10-0 (permalink)
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Default Re: Sugar Daddy needed - again?

Quote:
Originally Posted by krux View Post
so he put loads of money in, got them promoted several (?) divisions and has left them debt free.

Why is this being sneered at?

An example of a sugar daddy bringing huge benefits to the football club. Imagine what could happen at a proper club like ours, instead of a tin pot outfit like Eastleigh.
One promotion only, from NL South. It isn't sneering, it's drawing attention to the fact that huge "investment" doesn't necessarily buy success. I think that if we had £10 million over 6 years, we'd show better results - but the most important bit relates to Easleigh's potential cash problem next season. How are they going to afford the wages of the "overpaid" (his words) players taken on board. Without similar "investment" next season, their £2.5 million loss from this season will either cause them to fold, or dump the players for cheap alternatives - with consequences.
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