Article in Yellow Advertiser

[Napster]

Couple of new snippets:

pay the pfa loan and the embargo ends
we are helping sainsburys build their store
ron is happy with situation

http://www.yellowad.co.uk/tn/Sport.cfm?id=24194&headline=Chairman%20moves%20to%20ease%20fans%27%20fears

 

[palexander]

“I shouldn’t really be here, but I need to be,” he says.

Then buggers off on holiday a week later...

 

[Smiffy]

This comment is interesting:

“We are in a partnership with Sainsbury’s. The role is that of facilitators – we are helping them to build their store and they are helping us to build our new stadium."

Could it be then, that Martin Dawn will arrange and help with the building work at RH, in return for a whacking great loan from Sainsbury's to build the stadium?

 

[Onion_Bag_Dave]

That is actually not a bad article as it goes. But it is really a bloody surreal one ‘the darkest hours come before the new dawn’.

What is going on, is it Enid Blyton, Shakespeare and a hint of James bond meeting up and creating the weirdest, strangest and most odd article ever written.

“I shouldn’t really be here, but I need to be,”

'Ron what are your plans and what souvlaki will you indulge in on your travels to Ancient Rome? '

'If I told you that, I'd have to kill you' Ron Martin said as he stroked his beard, clutching at a pair of lovely breasts, sniffing incense smoke as the sunset set in north for a change.

What a completely strange article. I think I have found my new favourite newspaper.

 

[Neil_F]

Some of this is pure fantasy. RM can compare our budget to any other club he likes; the fact is our budget for the second half of the year was 100% out.

We had no cash and didn't pay the players but the budget was £x million so we should have stayed up according to RM. We got relegated because the players weren't paid - end of story. Yes, ST looked like a broken man at the end and it probably filtered through to the players but it was RM that got us to that point.

I admire your optimism, pboreham, but I don't understand how we get through next month if we get through this one. All of the season ticket money has gone, the TV rights cash will be used to pay back the PFA, the Bailey cash will be used to settle other debts. How will we pay staff and HMRC in August???

 

[Onion_Bag_Dave]

Some of this is pure fantasy. RM can compare our budget to any other club he likes; the fact is our budget for the second half of the year was 100% out.

We had no cash and didn't pay the players but the budget was £x million so we should have stayed up according to RM. We got relegated because the players weren't paid - end of story. Yes, ST looked like a broken man at the end and it probably filtered through to the players but it was RM that got us to that point.

I admire your optimism, pboreham, but I don't understand how we get through next month if we get through this one. All of the season ticket money has gone, the TV rights cash will be used to pay back the PFA, the Bailey cash will be used to settle other debts. How will we pay staff and HMRC in August???

Sainsbury's!

 

[Neil_F]

Does anyone understand the financing structure for the stadium? Sainsburys as far as I can work out will part fund it through the RH purchase but they aren't going to pay for the whole thing. I can see them paying over the odds for RH to ensure that the mov happens but no more than that.

Even if the money does appear from somewhere, who is going to own the stadium and the associated revenue streams from the retail outlets? Have we ever been told and has it all now changed?

 

[Neil_F]

Sainsbury's!

But will the judge accept that? HMRC petitioned the judge to put us in administration even if the debts were settled. They argued that we are insolvent, which is true, and entirely dependent on third parties, whih is true.

Our submission was that Sainsbury's had agreed to meet our debts "as they fell due." That is confirmation that they won't be handing over a lump sum but what does "debts" mean here? Are they going to fund every liability for the next two years, including paying the players?

RM is going to have to present to the court a contractual agreement stating that Sainsbury's will effectively underwrite the club. At that point we will know the full details of this deal and who gets what from it.

 

[Onion_Bag_Dave]

But will the judge accept that? HMRC petitioned the judge to put us in administration even if the debts were settled. They argued that we are insolvent, which is true, and entirely dependent on third parties, whih is true.

Our submission was that Sainsbury's had agreed to meet our debts "as they fell due." That is confirmation that they won't be handing over a lump sum but what does "debts" mean here? Are they going to fund every liability for the next two years, including paying the players?

RM is going to have to present to the court a contractual agreement stating that Sainsbury's will effectively underwrite the club. At that point we will know the full details of this deal and who gets what from it.

They way I see it is...

If we weren't developing a new stadium we wouldn't be dependent on third parties.
If we wanted to stay at Roots Hall we would just be paying our debts off blah blah.

Your point about the players being paid by JS, I would like to know the answer aswell.
I presume that the PFA is going to be paid off by the Nicky Bailey sell on clause. That isn't relying on third parties. That is good business.
We have cut 2 mill out of our expenditure, I presume a large some of that was Adam, Macca, Barnard, Francis and other players are can't remember.
Isn't nearly every stadium development funded by third parties?

I look forward to your third point.

Aslong as HMRC get their money, they are happy bunnies.
It might be a massive **** up but we seem to be ticking over. Especially when JS will start to make us tick over. When that happens hopefully we can buy some new balls, and cones with Ron's money!

 

[palexander]

Some of this is pure fantasy. RM can compare our budget to any other club he likes; the fact is our budget for the second half of the year was 100% out.

We had no cash and didn't pay the players but the budget was £x million so we should have stayed up according to RM. We got relegated because the players weren't paid - end of story. Yes, ST looked like a broken man at the end and it probably filtered through to the players but it was RM that got us to that point.

I admire your optimism, pboreham, but I don't understand how we get through next month if we get through this one. All of the season ticket money has gone, the TV rights cash will be used to pay back the PFA, the Bailey cash will be used to settle other debts. How will we pay staff and HMRC in August???

As Onion says, the ONLY way I can see SUFC surviving short term now, is Sainsburys - its as simple as that, there is no other way.

Yes, we have cut the wage bill and other outgoings, but at the end of the day, we are in the **** and have no cash flow.

If Sainsburys can stump up £Xm as a short/medium term financing option, then I am positive we can compete.

If not, well, doesnt bare thinking about - which is why I like thinking about Option 1!

 

[jamesmut2000]

That article reads better than anything ever written by the Echo- maybe they should be tapping up the journo that wrote it!

 

[Beefy]

That article reads better than anything ever written by the Echo- maybe they should be tapping up the journo that wrote it!

Indeed, although I'm slightly biased as I went to school with the guy who wrote it 20+ years ago. He was a ncie lad then and looks to have turned into a good journalist since.

I wish Ron would stop going on about what a massive budget and set of resources we had last season. I can only presume when comparing our resources to Swindon and Millwall last season that he's referring to the wage bill (as we didn't spend a penny on transfer fees unlike both of those clubs). But a big wage bill doesn't help us when it's completely unbalanced like ours was with a small number of players, including just one centre-half, on big money. Plus when that big money isn't paid that isn't going to help either. I understand the point that he's making but he's making it very poorly and won't convince anyone.