SUFC: The Future Consortium and Ron exchange contracts... so when will they be signed??

[dusterman]

They're obviously not hugely concerned if they're willing to put that amount of money in. There is zero risk that this won't go through.

0.95, surely?

 

[sufc4life21]

They're obviously not hugely concerned if they're willing to put that amount of money in. There is zero risk that this won't go through.

Wouldn't say zero chance. We have 10 consortium members who own equal amount of shares, I'm guessing each member would of put in 150k to meet 1.5 million to pay some debts which were required to be paid. If the council continue to drag there heels the actual deal is left in limbo so they could in theory walk away not losing a great amount, 150k in the football world isn't a great deal to lose. Given the majority are Southend based and fans you would think they would see it through.

 

[Holy Joe]

Wouldn't say zero chance. We have 10 consortium members who own equal amount of shares, I'm guessing each member would of put in 150k to meet 1.5 million to pay some debts which were required to be paid. If the council continue to drag there heels the actual deal is left in limbo so they could in theory walk away not losing a great amount, 150k in the football world isn't a great deal to lose. Given the majority are Southend based and fans you would think they would see it through.

I don't think their share ownership has been declared, beyond no one owns more than 51% and JR has the biggest holding. Assuming money contributed is inline with their share ownership, then some are likely to be in for alot less than 150k so far

 

[The Original Tribal Chief]

I will reiterate my point. Zero chance this doesn't go through.

 

[Holy Joe]

I will reiterate my point. Zero chance this doesn't go through.

Ron can't back out?

 

[The Original Tribal Chief]

Ron can't back out?

He can but he will bankrupt himself. No way he does that. Ron might be a **** but he isn't a fool.

 

[Cricko]

He can but he will bankrupt himself. No way he does that. Ron might be a **** but he isn't a fool.

Purely out of interest, how will he bankrupt himself when nothing is in his name anymore?

 

[RHB]

Will council elections in May get in the way - is their a date in advance where council business like this will stop/slow? I know planning applications continue unaffected during elections, but this isn't a planning matter (yet)

It's the 5th of February today. Local elections are over two months away.

 

[mark387]

He can but he will bankrupt himself. No way he does that. Ron might be a **** but he isn't a fool.

If there is absolutely zero chance of it going through why the hold up in the first place?

 

[sufc4life21]

I don't think their share ownership has been declared, beyond no one owns more than 51% and JR has the biggest holding. Assuming money contributed is inline with their share ownership, then some are likely to be in for alot less than 150k so far

Fair play, I thought they owned equal share with no dictator as such. The council do need to get on with it, they can't just think that now the club is saved they can take laid back approach. Just get it finalised and let's move forward.

 

[The Original Tribal Chief]

Purely out of interest, how will he bankrupt himself when nothing is in his name anymore?

He will have zero income coming in from these various companies. And then he will become personally bankrupt.

 

[The Original Tribal Chief]

If there is absolutely zero chance of it going through why the hold up in the first place?

Bureaucracy. That's all.

 

[mark387]

Bureaucracy. That's all.

Is that because of the web of bollocks Ron created? as this step doesn't seem to be a factor in any other club sale I've seen

 

[Cricko]

He will have zero income coming in from these various companies. And then he will become personally bankrupt.

Do you not think now that Jack is in control that the rat does not have any influence over him, especially with regard to FF.

 

[The Original Tribal Chief]

Is that because of the web of bollocks Ron created? as this step doesn't seem to be a factor in any other club sale I've seen

No, it's because the club's previous owner planned to move to a new ground and build houses at the old location, and the buyers want to keep the old ground. That's the unique situation here.

 

[The Original Tribal Chief]

Do you not think now that Jack is in control that the rat does not have any influence over him, especially with regard to FF.

Jack won't take a slash without Ron's approval

 

[Cricko]

Jack won't take a slash without Ron's approval

Exactly my point. As others have alluded to. The Rat is in a win win situation imo atm, no bills to pay, still owns RH with planning and can take whatever time him and junior rat suits them to get exactly the deal THEY want regardless of the time frame.

The only people under pressure are the consortium guys.

I might be wrong of course but the longer it
drags on the more it costs them.

 

[Richard Hearn]

150k isn't a great deal to lose.

In which case is there anyone who would like to 'lose' something similar to that amount in my direction?

 

[Holy Joe]

He will have zero income coming in from these various companies. And then he will become personally bankrupt.

House is in wife's name, Roots Hall in Jack's. Most of FF is in Jack's/Delanis (?). Only the club is stil in his name? What does he lose?

 

[Cricko]

House is in wife's name, Roots Hall in Jack's. Most of FF is in Jack's/Delanis (?). Only the club is stil in his name? What does he lose?

The club is now in the consortium's hands on paper they are now liable for all the debts.

The only things outstanding are the transfer of RH and the new training ground.