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COSU Statement - 25th June 2024
- Thread starter Smiffy
- Start date
OldBlueLady
Junior Blues Coordinator⭐⭐🦐
Some things never change!!!
gatecrasher
Newbie
As an exile ( I live in Wales) and I know there will be many others in a similar situation. Is there anything we can do to financially show more support to the club and COSU should we come out the other side. Obviously a season ticket is not feasible, but other than buying merchandise what else could anyone suggest?
Swiss Tony
End of the pier show ⭐⭐🦐
Absolutely Scott, can’t wait to get the show on road.
Spaceman Spiff
Spiff sets his ray gun to ‘liquefy’ ⭐🦐
Speak for yourself!
Chrisb
Forever Blue⭐⭐🦐
As above, this was my understanding too - is it not correct ?
AlfaShrimper
Head Coach
I was just saying this actually! We need to back them financially as much as possible
That is the only argument i can find for COSU to not do the deal.
Suomi Shrimper
First XI
Next time you're in town for a game, do hospitality instead of getting a regular ticket. That's an extra £60+ that goes directly to the club.
I went (coincidentally) for Chris Powell's first game and it was a great experience, you are very well looked after. I imagine the standard will rise even further once COSU are in charge.
kentblues
Director⭐
Yes a balance sheet elsewhere is going to look even uglier (assuming no bad debt provision) but it has no immediate cash impact probably. So can be managed whilst the property deal happens. And all assets (FF & RH) have been safely moved long ago to entities with stronger balance sheets and that aren't at risk and don't hold the club debt?
The Club/RH/Training Ground being tied togerther worked for both parties for different reasons. Necessity means for both parties the lesser of two evils is now needed?
Anyway we speculate because its a forum (thats what its for) but in this instance for once we haven't long to wait and find out..
overseas shrimper
Life President⭐🦐
A miracle?
overseas shrimper
Life President⭐🦐
That's your default, so what's your point?
Blues ‘n’ twos
Newbie⭐
IF this happens, IF, how much more would you be prepared to pay, for one season only, on your season ticket to show support?
Richard Hearn
Coach⭐
If this takeover goes ahead on these terms I think all we Southend supporters will have to temper our expectations for at least the coming season. Until more revenue streams can be found COSU will have to cut their cloth very carefully. Even if the embargo is lifted there may not be much spare cash to get in any more bodies anyway.
I think that we are all going to have to be very patient and just be glad there is still a club to support.
I think that we are all going to have to be very patient and just be glad there is still a club to support.
shrimperjon
President
100% this
THE SEVENTIES NORTH BANK
Life President⭐⭐🦐
TrueBlue, this is Bob, he's just joined the consortium. This is his reaction when I told him about your offer.
He said, ''Yeah, yeah yeah, I've heard it all before.'' ''Let's see if he's a man of his word.''
When can he meet up with you?
Ron wasn’t so much refusing to sell but is unable to sell until the agreement for lease was agreed.
The deal will have been to sell the club debt free (i.e. free of secured debt; the £0.5m winding up order is incidental here).
There are therefore two possible scenarios
1. COSU will now take on the secured debt. This would be extremely brave.
2. COSU will only proceed if Ron releases the charges first, however it is unclear whether Ron is now able to do so. I would expect that the security Ron has over SUFC for Mezcal forms part of the security for whoever lent Ron money in the first place.
Thor1
Striker
I think the fans would owe the consortium a big favour given many times over by their support shown through the turnstiles if they can get the deal through. They have my utmost respect.
In the context of the NL statement regarding the bond I see this as a totally unjustified action and nothing short of football vandalism and they have my utmost disrespect and belong in the gutter with the Martins.
In the context of the NL statement regarding the bond I see this as a totally unjustified action and nothing short of football vandalism and they have my utmost disrespect and belong in the gutter with the Martins.
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