SUFC: The Future SUFC up for sale

[WestyReturns]

I think it’s been sold already, hence why the radio silence because of a NDA.

The last thing a buyer would want is counter offers coming in which is what this statement is designed to achieve.

 

[thenobster]

Everyone is assuming Ron's 'toast'. But, what if there was a silent investor? That option is still there.... not one we wish to happen. But its there.........

 

[bluethroughandthrough]

Ron was always in it for the real estate. It's his background. A 25 year journey was probably longer than what he hoped! Perhaps conciliatory maybe despondent. Regardless he has the asset and now he wants a return on the one thing he can earn from.

 

[KiwiRob]

Yeah but he is conveniently missing the point that building the stadium gave him the opportunity to build the flats which is where he will make his money. The fact he may “ loose” money selling the club and stadium is a red herring.

Yes, I noticed the victimhood angle. No one made RM buy ownership of the club! And I am unsure whether RM's claim that he will not get back his $25 million investment in the club over many years is actually accurate. If the Fossetts Farm stadium move comes off, the Chairman stands to make a great deal more through the housing development than he has invested in Southend United.

 

[Kat_r]

Happy that he's willing to listen to offers for the club, yeah for a fee that nobody will be able to afford when the club owns zero assets.

Remember on zoom, remembering that he LOVES the club, that he wants his £14/15m back that he put into the club. Horse sh%t, rent that he charged the club each year for an asset that was stripped from it.

For me this is an absolute **** press conference, literally nothing has changed and neither will it because nobody will buy the club for what he wants.

He’s still building rh and ff. he just wants somebody else to fund the club and the buy the stadium off of him

 

[Kat_r]

So the stadium isn't for sale, the development isn't for sale.
What is actually being sold here?

A club with potential revenue streams from the stadium I suppose.

Trouble is till the development is finished whoever owns the club will be sinking money into it with no profit
And then be asked to buy the stadium from rm

 

[LeedsSUFC]

If he truly loved the club he’d have just focused on the new stadium. Not the property side
Imo all he ever wanted was planning permission approved to show to a new owner the council would approve flats. That alone will mean he’s very wealthy. And as @Dubai insinuated something has already been done.

Ron could never afford to build the stadium alone, that has always been obvious.

Prior to 2008 financial crash, he had most things in place. Planning, bank loans, blueprints. But the financial crash happened and the banks withdrew their funding.

Don’t forget, at the time, we were in the Championship, signing players on fairly large contracts. We also pushed for promotion the season after relegation which cost us a bit as well.

In regards to the stadium post-financial crash, retail units were no longer viable. New funding was provided and agreed for housing years later. Before the housing element can begin, Boots & Laces needs to be torn down, which is happening now.

In the space of 15 years, we’ve had the airport extension, the airport boom (which attracted Hilton hotels), and then crash, which has led to Hilton pulling out.

To say building a stadium is easy is very harsh on RM in my opinion. I think the fairest argument is somewhere between, he didn’t have enough experience to deliver such a huge project (incompetence?) and he was unlucky financially (two once in a lifetime financial events within 13 years of each other… Possibly a third one now.)

Those two are no excuse for running the club into the ground. He should’ve sold when Sturrock took over with 3 players registered to the club, and we raised money in 2009/2010.

 

[Kat_r]

Ron could never afford to build the stadium alone, that has always been obvious.

Prior to 2008 financial crash, he had most things in place. Planning, bank loans, blueprints. But the financial crash happened and the banks withdrew their funding.

Don’t forget, at the time, we were in the Championship, signing players on fairly large contracts. We also pushed for promotion the season after relegation which cost us a bit as well.

In regards to the stadium post-financial crash, retail units were no longer viable. New funding was provided and agreed for housing years later. Before the housing element can begin, Boots & Laces needs to be torn down, which is happening now.

In the space of 15 years, we’ve had the airport extension, the airport boom (which attracted Hilton hotels), and then crash, which has led to Hilton pulling out.

To say building a stadium is easy is very harsh on RM in my opinion. I think the fairest argument is somewhere between, he didn’t have enough experience to deliver such a huge project (incompetence?) and he was unlucky financially (two once in a lifetime financial events within 13 years of each other… Possibly a third one now.)

Those two are no excuse for running the club into the ground. He should’ve sold when Sturrock took over with 3 players registered to the club, and we raised money in 2009/2010.

Gosh he’s the most fortunate perennial victim I’ve ever seen
I’d have more sympathy if he didn’t just lose us our best player and paid staff on time. He’s clearly got the money, the company handling the potential sale do not come cheap.

If he’s selling before the stadium is built, who’s going to buy?
If we believe rm the club is making a loss and will do until the new stadium is built

Rons then going to ask whoever has bought the club to then buy the stadium off of him

Who in their right mind is going to do that?
The maser somebody extremely wealthy looking for a play thing called a football club to exert more power in the west for their backward misogynistic ideology

 

[Medway Blue]

That was another thing I picked up from recording of the presser.

He referred to the board of directors and the role that they would play in the process two or three times.

It was a surprise to hear that from an owner who has essentially run the club as an autocracy for a decade and a half, and who generally sees the board of directors as being ceremonial and something to sideline rather than empowering them to help hold him to account. I can't remember the last time that they were mentioned as actually having a role or a say in anything.

 

[tommy tucker]

When derby was sold they was in an embargo .When scunthorpe was sold they was also in an embargo .Both clubs was in dire stratights .We are at present in that position AS to be in an embargo and in debt .So with thoes two to mind I am sure the club can find an invester to buy the club and end Rons so called leadership .

 

[Ian Benjamin]

Why would you then publicly put it for sale though?

I think he has probably moved the shares in to a New Co which is 100% clean. There is a huge Stamp Duty saving by purchasing shares rather than physical assets, and no one is going to buy any of Ron’s historic companies as most likely will contain loads of skeletons. So I think this is just a way of facilitating a share sale to aid a buyer.

 

[Holy Joe]

That was another thing I picked up from recording of the presser.

He referred to the board of directors and the role that they would play in the process two or three times.

It was a surprise to hear that from an owner who has essentially run the club as an autocracy for a decade and a half, and who generally sees the board of directors as being ceremonial and something to sideline rather than empowering them to help hold him to account. I can't remember the last time that they were mentioned as actually having a role or a say in anything.

Wasn't lockett involved in the process to appoint King Kev et al

 

[Holy Joe]

Everyone is assuming Ron's 'toast'. But, what if there was a silent investor? That option is still there.... not one we wish to happen. But its there.........

Possible, but I think more likely the other way round ie Ron becomes the silent investor - he's clear he doesn't want to run the club anymore

 

[Ian Benjamin]

The other potential positive is that if a deal can be done - the phasing of Fossets could be changed to make sure they build all 4 sides at once.

 

[Sentinel]

So let me clarify this, Ron Martin keeps Roots Hall, the training ground, Boots & Laces and the Fossets Farm development. He keeps the housing and retail and will lease the new stadium to the club.

So what is for sale?

As far as I can see it is the name only and a place in the national league. With no accounts filed for three years the club must be at least £10m in debt.

I think this proposed sale is one step closer to a phoenix club.

 

[sufc4life21]

Yes, I noticed the victimhood angle. No one made RM buy ownership of the club! And I am unsure whether RM's claim that he will not get back his $25 million investment in the club over many years is actually accurate. If the Fossetts Farm stadium move comes off, the Chairman stands to make a great deal more through the housing development than he has invested in

From the footballing point of view ie the club he won't make his money back hence why he is happy just to sell the club outright. I don't really know how much he going to make from the housing front but would of thought its near 100 million. I look at this situation think everyone wins..... Ron sell up and still makes his money from property without having keep funding football club, the club gets fresh start and cash injection which will put the club on stable footing and we move forward.

 

[Kat_r]

From the footballing point of view ie the club he won't make his money back hence why he is happy just to sell the club outright. I don't really know how much he going to make from the housing front but would of thought its near 100 million. I look at this situation think everyone wins..... Ron sell up and still makes his money from property without having keep funding football club, the club gets fresh start and cash injection which will put the club on stable footing and we move forward.

do you not find it a bit warped how he says he’s spending his son’s inheritance on the club whilst on his way to generating 100million for his family?

 

[Kat_r]

So let me clarify this, Ron Martin keeps Roots Hall, the training ground, Boots & Laces and the Fossets Farm development. He keeps the housing and retail and will lease the new stadium to the club.

So what is for sale?

As far as I can see it is the name only and a place in the national league. With no accounts filed for three years the club must be at least £10m in debt.

I think this proposed sale is one step closer to a phoenix club.

Yeah I was thinking it’s not the best deal for a buyer. What angers me is how rm was smirking knowing he’s on his way to great riches even pretending he’s spent the family inheritance on the club whilst knowing he’s about to make his family rich

The hilarity is when he comes up against somebody who understands business what’s he’s offering is a joke.

 

[Kat_r]

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.

Bingo. But surely @StanCollymore would do everything to not not let this happen given his previous comments about suitable ownership?

 

[Kat_r]

I read that to say in an ideal world he'd like to sell the club and the stadium as one entity but he won't, because he won't get all his money back.

Sorry, how much a month do you think the flats are going to generate in rent for Ron?

How many units times the rent. The money will more than easily be recouped.