COSU Statement - Friday 7th June

[Yorkshire Blue]

The chances of the Martin family offering any security must be slim to none. Why would they take the risk when they have no personal liability for the debts of the football club?

I believe the idea would be that they’d only be responsible for the debts if the takeover didn’t proceed.

In other words: you say it’s a formality and it will get done so you shouldn’t have any objection in providing security that if what you say is accurate won’t get called upon.

 

[Fairport]

It is not impossible that the Martins debts are so high that whatever they make on the FF deal IF it goes ahead may not cover what they owe, hence their efforts to upgrade the proposed housing. Of course, the likely reason for this move is greed though.

 

[Holy Joe]

A personal guarantee is not offering security, so unless someone blinks it looks like it's curtains. I'm normally optimistic on things, but this ain't looking good now.

 

[Yorkshire Blue]

A personal guarantee is not offering security, so unless someone blinks it looks like it's curtains. I'm normally optimistic on things, but this ain't looking good now.

I wonder if Ron speaks for Jack on this?

Ron hasn’t any security worth offering AFAIK.

It’s Jack who can offer worthwhile security.

Will Jack want to see his project crash and burn or will he offer up security?

 

[shrimpereeee]

If the club goes under the Martins are left with development opportunities on both RH and FF. it’s a win win situation for them.

 

[blues exile]

If the club goes under the Martins are left with development opportunities on both RH and FF. it’s a win win situation for them.

Always has been. Once he got his grubby paws on the club it was obvious what his objective was. 'Property developers' are among the lowest forms of human life.

 

[kentblues]

You would hope SCC will make clear that the accelerated process is only continuing if at the same time the clubs future is secured. Therefore whilst COSU point three is indeed between COSU and Ron, such agreement being in place is a pre-condition of moving forward to accelerated timelines.

I would be staggered if ST and COSU aren’t demanding this and SCC should be making same clear to the developers. Nonetheless it would be comforting to confirm this is the case even if it is from “Negotiating for Dummies”.

 

[tommy tucker]

Ron martin if and when the clyb dies .Ireally do hope you die a very painful death all so .But as it is said the devil look after his own RON MARTIN you are the lowest life form any one should know .If you can kill off a football club of so many tears .You dont deserve to proft from that club death . Ireally hope companys you owe monet to hunt you down through the courts .And get you banged up where you belone behind a prison sell .

 

[kentblues]

Martin is the current custodian of the club and as such it his responsibility to pay the bills until such point it is sold. The fact is he can’t afford too which is why COSU are picking up the tab even though they don’t yet own the club.
Any agreement to get the Martins to underwrite this current in limbo expenditure wouldn’t be worth the paper it was written on, COSU will just end up joining the long list of creditors so surely they will want more than just a written agreement he will pay up!
If Ron could afford the agreement he could afford to pay the bills now as is his rightful duty to do so as current owner.

He’s not being asked to pay now but provide security so the cost can be recovered if it doesn’t happen.

If he can’t provide security then it will have to come through a partner in the development- it’s a £500m development so someone somewhere needs to be on the hook. Or no development (for years at least). Including all those lenders and charge holder not getting their money.

 

[tommy tucker]

Ron martin if and when the clyb dies .Ireally do hope you die a very painful death all so .But as it is said the devil look after his own RON MARTIN you are the lowest life form any one should know .If you can kill off a football club of so many tears .You dont deserve to proft from that club death . Ireally hope companys you owe monet to hunt you down through the courts .And get you banged up where you belone behind a prison sell .

Sorry poor spelling due to my anger

 

[shrimpereeee]

Why would the Martins worry about the death of the club and delay? It wouldn’t surprise me if they have buyers, in the form of developers, lined up to purchase both RH and FF with standard overage agreements to secure their windfalls.

 

[rigsby]

Always has been. Once he got his grubby paws on the club it was obvious what his objective was. 'Property developers' are among the lowest forms of human life.

Do you live in a cardboard box?.....Int middle of t road

 

[Bearded Shrimper]

I was wondering. Is It at all likely that the Rat's attention could be focused on the implications of a new Labour government (if elected)? Seing how just a change of Council, at the very least, is going to oblige him to modify his buiding plans, could there be even more dramatic consequences with a change at National level? Could It provide him with a new sense of urgence??? Clutching at straws!

I posted recently that I'd read in the Times Labour are promising to have a target of 40% affordable homes in new development and that Ron might want to make sure he gets this deal over the line while he can just in case...

 

[Sussexshrimper]

You total narcissistic ronald martin ..this is a observation ..be very very careful if sufc die

 

[Mark Corrigan]

Sorry poor spelling due to my anger

Unlike you

 

[Sussexshrimper]

Unlike you

Very true but my anger is the same tommy

 

[Sussexshrimper]

Very true but my anger is the same tommy

Even mark sorry ..see cant even read am so angry

 

[Holy Joe]

I wonder if Ron speaks for Jack on this?

Ron hasn’t any security worth offering AFAIK.

It’s Jack who can offer worthwhile security.

Will Jack want to see his project crash and burn or will he offer up security?

True - you'd think someone involved in the development could have security to offer.

The problem is I don't think the project crashes and burns without the club.

 

[lreed567]

Reading through all these posts recently, it's really sad to see what one person has done too so many. The ups and downs of this takeover have been a lot to handle for some, also turning on each other isn't the way forward, remember alot of people are struggling with this and done are here to vent and some are here because they are worried, I'm sure this has all been said but don't turn on people on here who are dealing with it in there own way, the situation is horrible and nobody has a clue what will happen, we all want the same outcome to start next season under new ownership and start going forwards, and fingers crossed that will come

 

[Blue Yonder]

True - you'd think someone involved in the development could have security to offer.

The problem is I don't think the project crashes and burns without the club.

Ron said he emailed his agreement to the councils new terms yesterday. We’ll find out if that is true I’m sure early next week. If true I imagine it’s because he does believe the developments could crash and burn without the club and the sale of it being concluded.