SUFC: The Future SUFC up for sale

[Yer Blues]

He didn't actually say that though..


Chairman Ron Martin, along with the Board of Directors, announced that Southend United Football Club Ltd (“Southend United”) is commencing a formal process to explore the sale of the Club or bringing on board new investment partners.

To be fair, its pretty standard terminology is instances such as this. Manchester United used similar language in their announcement:

United to explore strategic alternatives

The Board of Directors announces a process designed to enhance the club's future growth.

www.manutd.com

 

[Yorkshire Blue]

They appear to have ZERO experience of SOCCUR ! Please correct me if I am wrong

https://twitter.com/x/status/1636749122270052354

A subscription is required (but worth it IMO) but they have plenty of UK football experience.

I’d be intrigued by what US interest there is. Wrexham has given the NL a higher profile than L1 or L2, possibly even the Championship. There are US investors out there who own stakes in various sports clubs including minor league baseball sides with attendances similar to our own.

No with the parties appointed to conduct the sell, they will want a % cut!

I wonder if the buyer or seller pays the agent’s fee?

But we all know with him there's no chance he will write off the debt. Someone who really does love the club would.

He has written down the debt several times before (including most recently when the Dutch investment was being discussed). Now how much he writes off would be a matter of negotiation.

 

[Somerset Ex-TTB]

We’d all have loved shot of RM, but his golden egg is FF. He won’t be fully out of the picture until that is built, or almost there.

I don't like the guy, but I wouldn't have advocated shooting him.

 

[Pak66]

Any purchaser will want to see up to date accounts as will current share holders

 

[hlane17]

General Sports Worldwide |

generalsportsworldwide.com

 

[rootshall rambler]

Or as someone else has just observed on Facebook ……



”Everything’s fine. The team’s doing fine. The funding’s fine. The embargo will be lifted any day. The foundations to the new stadium are imminent. Accounts will be filed soon. We’re in credit with HMRC. His lawyers are paid in full. KM is signing a 10 year contract. All the staff are paid. There’s a pot of gold for transfers. So cough up for your season tickets in confidence.“

…so stop bloody Discussing all you doubting Thomas ‘s !!

 

[kentblues]

According to the Athletic https://generalsportsworldwide.com/ is

"The estate agency for buying and selling football clubs"​

Significant international player in the industry.

 

[secondalibi]

Club for sale?? The perfect opportunity for Hugh Jackman to take on his arch rival Ryan Reynolds!

 

[fredheim_holm]

My assumption is that if Ron doesn't go through with a sale he'll be left with a sizeable fee from GSW, so him appointing them shows he's serious about a sale.

Whether they find a buyer at a price he's ok with it another matter.

All in this is great news, better than if he'd sold to a dodgy mate of his behind the scenes (e.g. Skally). Let's just hope we can find someone who isn't entirely nuts (only enough to buy us) and has deep enough pockets to fund the club.

 

[Floval Flyer]

Really true. It's almost a fashion accessory for a wealthy American with any British conections.
But as you rightly point out there are many investors that are simply fronts for huge money laundering operations who are more than happy to buy out debts of millions and pay £1 and continue making an operating loss while plowing millions of dirty money in and extracting far less but cleaner money. They have no interest in the club's wellbeing or fans.

Ron, there’s a yank on the phone. Wants to know if you wanna swap for a profitable car wash and launderette? Plus a barrel of cash…

Hold the line Mr White

 

[Pak66]

Latest news...... Mr Martin has been scanning the Web and finally found the Americans who bought London Bridge. Mr Martin thinks he has found the perfect buyer for SUFC.

 

[Shrimper]

Ron will sell the club and use that money to complete Fossetts Farm

 

[Ian Benjamin]

There's not much to sell! It's only worth what someone us prepared to pay, I hope Ron realises that!

Agreed - if he is just selling the Club, does that really need big swanky American advisors? What is someone going to pay £1-2m? Can’t be worth much more than that!

 

[stewart]

I just posted in another thread that i heard a rumour that SUFC are in talks with a very very rich person from a middle east country , dont know fro which country but he is an Arab person wanting to buy out the club, Now before you get your knickers in a twist i dont know how much truth there is in this, but for myself i truly hope this is true. So please dont ask me how ive heard this, just be patient and pray for the salvacion of SUFC.

 

[mattytheshrimper]

Would love to know the price tag Ron wants for selling the club! Considering the debt etc etc etc surely it can't be that much at all?

Will the new owners let the club own the land again?????

 

[Evening Echo]

Martin has been in charge of the Shrimpers for the past 25 years

Read more on this story


Help with Echo links

 

[Callum]

Ron sells the club and England to win the euros next year oh happy days

 

[ColinMorrisWalksOnWater]

anybody still got their old share certificates ?

Sure have

 

[TSG]

anybody still got their old share certificates ?

Yep, do you want to make an offer?

 

[Maidstone Shrimper]

I don’t understand some people.

The Club is now up for sale, as I read it, just the Club. The stadium etc could be at a later date, probably once it’s done and dusted so RM gets two lump sums. A smaller one for selling the Club now, and a large one down the line when the stadium is sold.

One of the things people were demanding was that RM outlined some sort of exit strategy. Isn’t that exactly what this is?

The debate about whether people would actually buy the Club can now be answered. The people that claimed they don’t know if anyone wants to buy their house until it’s put up for sale comes into effect here. There is a big For Sale sign outside Southend United. Yes, there is a financial web with all the relevant companies that own what, but this is the clearest indication in 25 years that RM wants out, so that can only be positive.

I’m expecting a post from Stan. That’s not ITK, just a guess now things are in the open. Those arguing that Stan should join us on the picket line as it’s better than working from within (a bit like those knocking the trust for something similar) will now come back with their tails between their legs in an ideal world, but of course they won’t.

This is really encouraging news. We’d have loved a new owner today, but that wasn’t realistic. I’d heard whispering since before Christmas that RM was looking for a way out. Personally, I see this as win win.

We’d all have loved shot of RM, but his golden egg is FF. He won’t be fully out of the picture until that is built, or almost there.

It is a step forward. I think people were just expecting something more as Ron's vanity thought it would be worthy of a press conference that would be of interest to the national press! Hence the general reaction of being underwhelmed.