New details of FPP's investment in Sunderland AFC revealed - and what the loan could mean in the long-run
New documents have emerged at Companies House revealing further details of FPP Sunderland’s investment in Sunderland AFC.
The group, which consists of businessman Glenn Fuhrman, John Phelan and Robert Platek, invested an eight-figure sum - believed to be around £10million - into the club last month.
And new documents have now confirmed that the money provided to the club via the FPP group has taken the form of a loan.
FPP Sunderland have invested into Madrox Partners, Stewart Donald’s holding company which owns the football club, with the money then passed into the club accounts.
And as part of the agreement, charges have been registered at Companies House against Madrox Partners and Sunderland Limited.
While the 45-page document makes for some complex reading - the essence of it is simple.
Essentially, the money provided to the club by FPP Sunderland is secured against the club’s assets - namely the Stadium of Light and Academy of Light - and the majority shareholding held by Madrox.
And if the money is not repaid, then FPP Sunderland will take control of the football club and its assets.
There is no timescale mentioned in the documents as to when the money has to be repaid.
The charge is signed by both majority shareholder Donald and fellow director Neil Fox, while Marcello Liguori has signed on behalf of FPP Sunderland.
The full document can be viewed online via the Companies House website.