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For people wondering why the EFL would want such a guarantee from existing Madrox/ #SAFC shareholders: they can't sign off on a change in ownership without a guarantee the club will continue in business (used to be for 12 months, now appears they want 24).
Current trio would retain 41% of the club, so should expect to provide 41% of future capital. It appears they haven't committed to doing so. Why?
Also worth considering: a month ago SD reported as saying #SAFC at risk of admin, so how can he now guarantee his share of funding?
Also worth considering: a month ago SD reported as saying #SAFC at risk of admin, so how can he now guarantee his share of funding?
It all comes back to greed and a desire to enjoy the rewards while undertaking little to no risk. They got in the door with the club's money and now apparently want to ride on KLD's coattails. If they were selling up in full - like they said they would - there'd not be an issue.
Last month the club was strongly rumoured to be trying to access a pot of money that is only available if they can show they'd go bust without. They can't claim that if they commit to this guarantee. Is that a factor? It shouldn't be but I wouldn't put it past them.
If it sounds like a total mess that's because it is. It shouldn't be this complex or drawn out and it shouldn't still be going on. But greed complicates and they want their future pound of flesh.
This is why #DonaldOut meant exactly that. They need to go for good.
This is why #DonaldOut meant exactly that. They need to go for good.
