COSU Statement - Friday 7th June

[wiggy]

Trust looking at plan B for Blues' future if needed

THE Shrimpers Trust have been working towards securing a Plan B for Southend United's future.

www.echo-news.co.uk

Good news surely that the ST are looking at a plan B if the Consortium pull out?

Never gonna get another structure like the consortium...nice wealthy blokes and supporters as well!!!!

 

[Barling Magna]

Just give up man - you're 70 (71?)- do you still need this sh-it?

I'm 70 and whilst I don't need any more sh it than when I was younger I certainly need to pi ss more regularly....

 

[meerkat54]

Council want and were originally happy with more affordable housing. RM then changed it, wants more out of it with higher spec higher returns.
New council aren't having it despite fans being led to believe there was cross party agreement, and now there's no time to sort it before the AGM and WUP. Without capital security for cosu in the form of money or property in a form of a trust, we are no more.

What can the offer as security, for the consortium to continue?

 

[dusterman]

What can the offer as security, for the consortium to continue?

His weathered old scrotum on one of those sweet mini guillotines? Would love that.

 

[SUBBlue]

His weathered old scrotum on one of those sweet mini guillotines? Would love that.

Why is it weathered? Do u think he’s a naturist & bears the brunt of the UV rays on his ratty little nut sack until it resembles saddle leather?

Sorry I’ve been down the pub…

 

[rigsby]

Reading between the lines, there are two keys points to these statements:

1) The council don’t think this will be resolved anytime soon, and certainly not in the timeframe that JR wants.

2) For the consortium to hang around (keep paying bills), they want a legally binding agreement with Ron/Jack that whatever they put in now, without owning the club, will be paid back in due course. And without that guarantee, they’re off.

That’s about the long and short of it.

This is the most important bit on this thread so far..

No Southend fan should trust any councillor regardless of what colour rosette their wear. Of course a new regime will dismiss the previous idea. Then we have a general election which will end up changing the plans again. More social housing, road access etc.

There never was any realistic chance of switching 500 houses in an acceptable time for us fans or COSU. So going forward our only option is number 2 on GBJ's list.

Unless of course you want to go back to Kimura and a new stadium at FF.

The good news is this can be sorted.

 

[dusterman]

This is the most important bit on this thread so far..

No Southend fan should trust any councillor regardless of what colour rosette their wear. Of course a new regime will dismiss the previous idea. Then we have a general election which will end up changing the plans again. More social housing, road access etc.

There never was any realistic chance of switching 500 houses in an acceptable time for us fans or COSU. So going forward our only option is number 2 on GBJ's list.

Unless of course you want to go back to Kimura and a new stadium at FF.

The good news is this can be sorted.

How? What security can he provide?

 

[shrimpereeee]

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?

 

[rigsby]

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?

They need COSU as much as we do.

 

[Holy Joe]

They need COSU as much as we do.

Only in terms of timing. The council will still engage with developers over building at FF, even with no club, it just won't be urgent.

 

[Sleaford Shrimper]

Not least on SZ….

Sorry, @Yorkshire Blue, I'd missed your quoted previous post. My purpose in posting was really to illustrate that, in all probability, it would be, at best, very difficult for Southend City Council to prevent an alternative redevelopment of Roots Hall by invoking the terms of the restrictive covenant. Your quoted, more detailed previous post adds greater substance to that opinion.

 

[tommy tucker]

NOW is this yet another council back sliding We must rember all to well the seaway project one muinte it was a goer .Then after a long period of deliberation the council decided the project was going to cost to much so they dropped it . Now again fossetts farm housing project was given the green light .Only for the council to do there DD and yet again they back tracked on the deal .Yes we all know the problem is also a very greedy family But im sorry but i dont trust southend council either .

 

[SeaSideDoughnut]

Only in terms of timing. The council will still engage with developers over building at FF, even with no club, it just won't be urgent.

Presumably that would need to go through the same planning process and have the same opportunity for Southend residents to reject? I was surprised by a poll here that so many are outside of Southend but surely there's enough to so it down until Ron's completely potless? Likewise with any development on Roots Hall, when was the planning last submitted? It must have been some time ago and possible need resubmitting?

 

[yogi bear up the cagire]

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!

 

[Holy Joe]

Presumably that would need to go through the same planning process and have the same opportunity for Southend residents to reject? I was surprised by a poll here that so many are outside of Southend but surely there's enough to so it down until Ron's completely potless? Likewise with any development on Roots Hall, when was the planning last submitted? It must have been some time ago and possible need resubmitting?

Absolutely, even this scheme will need planning approval.

From memory, I suspect planning on RH has another 12 to 18mths until expiry - although with no stadium at FF the conditions are impossible to meet, so would need an amendment at the very least

I was careful in my wording regarding council engagement at FF with no club around, it's quite possible they wouldn't engage with Ron on a leasing scheme, but would with a different developer, ie, Ron sells up. Although they wouldn't be able to stop him getting a leasing/financing deal elsewhere and applying for planning.

 

[meerkat54]

The way i evaluate the 3 party’s in this triangle is as it was a pantomime.
1/ COSU = Cinderella
2/ SCC. = the pantomime ugly sisters
3/ family = the heinous villains ( they are behind you)
Just a lighter take on our precarious position. Got to admit I’m a bit exhausted with our continuing fight.
The light at the end of the tunnel is almost extinguished now.

 

[dusterman]

Why is it weathered? Do u think he’s a naturist & bears the brunt of the UV rays on his ratty little nut sack until it resembles saddle leather?

Sorry I’ve been down the pub…

He’s 100% a **** out type bloke.

 

[kentblues]

I think Cllr Cowan said if the club were not a consideration rather than weeks the FF process would take years (2 years or more).
The cost of a 2 year delay to the Martins would far outweigh the cost of underwriting costs for COSU many times over- interest on all the borrowing and risk of something happening that sinks it all together.

The issue is they are potless. A personal guarantee from someone who is potless is worthless. COSU will want it backed by a charge over an asset. What I don’t understand is why the Dellals wouldn’t underwrite this as co-developer, clearly they could easily do so if they wanted to. And probably if underwritten by the Dellals a charge would not be necessary?

 

[Supa Shrimpa]

Have you noticed the Jul 23 accounts have just been submitted for Thames Plaza Plc. Bank loan of £28.9m showing. Wonder if that has any relevance to the whole situation.

 

[Crowstone Crevette]

The way i evaluate the 3 party’s in this triangle is as it was a pantomime.
1/ COSU = Cinderella
2/ SCC. = the pantomime ugly sisters
3/ family = the heinous villains ( they are behind you)
Just a lighter take on our precarious position. Got to admit I’m a bit exhausted with our continuing fight.
The light at the end of the tunnel is almost extinguished now.

Oh no it isn't!