SUFC: The Future The regeneration of Roots Hall

[Barling Magna]

Southend United stadium redevelopment moves closer as deal agreed

The development will raise funds to help Southend United redevelop their stadium.

www.bbc.co.uk

 

[Firestorm]

It is.

I wonder how much has already been spent on getting the old girl sorted ?
Will any of that be paid back to wherever it came from the 12M before the rest is put into RH ?

 

[Firestorm]

I suppose that now the contracts are done and dusted POSU could borrow against the future funds should they wish not to wait

 

[Avl1983]

Surely nothing major would be done until we officially own Roots Hall?

 

[ForeverBlue]

I suppose that now the contracts are done and dusted POSU could borrow against the future funds should they wish not to wait

Would you borrow £12 million on the hope that the Martin’s are going to pay you back?

 

[tommy tucker]

Was it not said thar once the housing project was given the green light And cointracts were agreeded and signed off The Martin would hand over the keys to the hall .And the concortium will then own Southend united in full . And ron will no longer own the hall .

 

[Blues4LifeDan]

It is brilliant news for sure!

My only concern is relying on the Martin's to submit planning permission that actually gets passed quickly. To say they don't have a great track record is putting it mildly.

 

[Thundersley Blue]

Was it not said thar once the housing project was given the green light And cointracts were agreeded and signed off The Martin would hand over the keys to the hall .And the concortium will then own Southend united in full . And ron will no longer own the hall .

I believe that will happen when Planning Permission is granted at Fossetts. What has been agreed is only the start.

 

[Avl1983]

So, am I correct in thinking that now this DD has been passed the next step is the actual planning permission? I realise there's potentially loads of stuff after to get the properties built but this is the main bit we need to get Roots Hall back.

 

[Cricko]

I believe that will happen when Planning Permission is granted at Fossetts. What has been agreed is only the start.

When the deal was done the agreed price for RH was 4.5 mill that was set to be paid over 3 years after which RH would be handed over to the consortium. In the meantime there was a lease agreement drawn up with no rental due.

So, am I correct in thinking that now this DD has been passed the next step is the actual planning permission? I realise there's potentially loads of stuff after to get the properties built but this is the main bit we need to get Roots Hall back.

Yes, and the points i have made above.

 

[THE SEVENTIES NORTH BANK]

Consortium leader - Justin Rees (Image: Alan Stanford / Focus Images)


By Christine Sexton. Local Democracy Reporter.

10th March 2025.

A MAJOR deal to build more than 800 homes on Fossetts Farm will trigger the start of £12million in phased payments to revamp Roots Hall and ensure “much-needed” investment can take place.

When Justin Rees and his consortium took over Southend United from former chairman Ron Martin, the group vowed to keep the Blues at Roots Hall and ensure that facilities were brought up to a modern standard.

Now, the completion of DD over the homes deal will lead to the new owners taking control of Roots Hall and receiving £12million in phased payments to carry out a major refurbishment project.
He said “The signing of this deal represents a major step forward and brings us closer to the much-needed investment in Roots Hall.

“Now that this agreement is in place, we can progress our plans to transform Roots Hall into a modern, financially sustainable stadium that supports both our team’s ambitions and the wider community.

“Our focus remains on providing improved facilities for our fans and players, ensuring Southend United is equipped for success on and off the pitch.”

 

[It'sGrimUpNorth]

It is brilliant news for sure!

My only concern is relying on the Martin's to submit planning permission that actually gets passed quickly. To say they don't have a great track record is putting it mildly.

Honest lot, them Martins.
I’d trust them with my life!
Won’t hear a bad word said about them.

 

[Hooly]

I thought the club was due to get £20m from the deal, not £12m. Or did I just make that up?

As @Liam AAS says that £20m was based on the original proposals.

The significant drop in profits that he refers to is, as noted in the 2nd paragraph, because plans shift away from large blocks of flats to being primarily focused on single-family housing. The Rat family are therefore getting less units than the original FF development with the added ex RH units where the stadium was going to be, so as a result they get less money & that reduction flows down to the club.

I believe that with a stadium at FF the council were happy with some higher buildings on that site but without the ground they stuck out too much so they wanted them downsized in terms of height to provide housing thay they believe people want. That's probably too simplistic but it's the gist of the matter.

In one of Justin's previous interviews I think he referred to the cash coming to the club as between £7m or £8m upto £12m so that latter figure may even yet be optimistic.

 

[Liam AAS]

When the deal was done the agreed price for RH was 4.5 mill that was set to be paid over 3 years after which RH would be handed over to the consortium. In the meantime there was a lease agreement drawn up with no rental due.

Yes, and the points i have made above.

I don't think that COSU are paying anything for RH.

 

[Blues4LifeDan]

I wonder how much money COSU have decided will be spent on the much needed, new east stand?

I saw Northampton's newest stand cost around £5-£6m (not including the allusive £10m the council put up to the previous owner). Oldham's cost around £6m too. I think Oldham's is probably the kind of stand COSU would go for. It holds around 2.5k spectators, has a gym, bar, offices and lots of fantastic hospitality facilities.

With the price of materials and inflation and possibly the expensive work of getting rid of the old stand, it may cost £7-8m. Interesting to see if COSU would spend that much out of the potential £12m. Would the £4m that is left over be enough to revamp the rest of the ground? @Sherif H will hopefully give us a guideline.

 

[Cricko]

I don't think that COSU are paying anything for RH.

Unless things have changed since @Liam AAS

In view of the speculation surrounding the sale, and future of the club, I agreed when talking with supporters on Saturday to set down the principal terms we could accept.
It may not be the legacy I wished for the club, but the club’s survival is of most importance. The interested parties have shared the view for a simple deal.

• The parent company will sell its entire shareholding in SUFC (70.6%) for £1.
• Roots Hall stadium £4.5m. This was the purchase price paid 25 years ago.
• We could agree to spread the purchase price of Roots Hall over 3 years with no rent payable in between.
• I am happy to sell the new training ground at cost.
• The money to fund the Club’s debt is not required on day one. The Club assesses the cash required in the short term, including settling HMRC (releasing the embargo), to be about £1m. The balance of debts (around £1.5m) can be spread over a period of time, as we have with many of our creditors.

There has been much misinformation and many inaccurate rumours. I hope this statement clears that up.

STATEMENT: SALE TERMS

In view of the speculation surrounding the sale, and future of the club, I agreed when talking with supporters on Saturday to set down the principal terms we could accept.

www.southendunited.co.uk

 

[Leeboy]

I see our favourite phrase 'DD' is rearing it's ugly head again........ **shudder**

 

[CaptainSmudger]

I thought the club was due to get £20m from the deal, not £12m. Or did I just make that up?

The deal was adjusted down to £12 Million for it all to go through last July.

 

[Liam AAS]

Unless things have changed since @Liam AAS

In view of the speculation surrounding the sale, and future of the club, I agreed when talking with supporters on Saturday to set down the principal terms we could accept.
It may not be the legacy I wished for the club, but the club’s survival is of most importance. The interested parties have shared the view for a simple deal.

• The parent company will sell its entire shareholding in SUFC (70.6%) for £1.
• Roots Hall stadium £4.5m. This was the purchase price paid 25 years ago.
• We could agree to spread the purchase price of Roots Hall over 3 years with no rent payable in between.
• I am happy to sell the new training ground at cost.
• The money to fund the Club’s debt is not required on day one. The Club assesses the cash required in the short term, including settling HMRC (releasing the embargo), to be about £1m. The balance of debts (around £1.5m) can be spread over a period of time, as we have with many of our creditors.

There has been much misinformation and many inaccurate rumours. I hope this statement clears that up.

STATEMENT: SALE TERMS

In view of the speculation surrounding the sale, and future of the club, I agreed when talking with supporters on Saturday to set down the principal terms we could accept.

www.southendunited.co.uk

1) those are Ron's words and therefore about trustworthy as a peado babysitter
2) lots has changed since then, they were the terms Ron laid out. Not the ones that I think were agreed with COSU.

 

[dusterman]

I see our favourite phrase 'DD' is rearing it's ugly head again........ **shudder**

DD that was successful this time, however.