Has it not occured to anyone..........

[Bielzibubz]

A number of people have questioned where the £2.1 million has come from and some have also questioned how RM seems to have been able to find the full amount outstanding to HMRC when just a few days ago he couldn't find just 1/3 of that figure. Well, consider this scenario if you will. Perhaps, just perhaps, it was Ron Martins intention all along was to pay in full all monies owed to HMRC and not just the £690.000 stated in the original winding up order and the subsequent administration hearing. Perhaps the deal that has raised this £2.1 million has been in the making for a while now, possibly long before HMRC decided to play hard ball, and for various reasons, credit crunch, recession, FF planning amendments etc etc, has taken far longer than anticipated. Perhaps this is why the clubs board were so quick to dismiss the consortiums offer of a buy out and they knew full well what deal was being struck and with who and also it's likely outcome.

In a number of threads I questioned the reasoning behind why it was so difficult to raise the £690.000 when there was so much at stake for everyone concerned. Substitute that £690.000 for £2.1 million and it now makes a little more sense as to the reasons why. If, as some believe, as indeed I do myself, that the money has come as part of the Sainsbury's financing then it makes a certain amount of sense that they would want any future club debts (£1.4 million still owed to HMRC) that could possibly put their project plans in jeopardy paid up in full. I certainly couldn't see Sainbury's financing any part of the development with such a large debt owed to someone like HMRC. After all lets face it. Certain debts you can stave off and work around but HMRC is not one of those, and I think Sainbury's knew it.

I suspect that Ron Martin has had this deal going through for quite a while now and it's just the timing of a number of things that very nearly put the kybosh on things.

Anyway, that's just my take on things. Unfortunately we'll never know all the in's and out's of what went on behind the scenes and we'll just have to make it up as we go, something some of us on here are quite adept at doing if you ask me but I for one am looking forward to us as supporters being able to put this whole sorry episode behind us and moving on to a bigger and brighter future.

Anyone want to borrow my specs, rose tinted of coarse!

UP THE BLUES

Phil

 

[McNasty]

The chairman could actually tell us where the pennies are from and that would end all speculation. He may state this in the full statement the club may publish at some stage.

Please don't hold your breath.

 

[fbm]

A number of people have questioned where the £2.1 million has come from and some have also questioned how RM seems to have been able to find the full amount outstanding to HMRC when just a few days ago he couldn't find just 1/3 of that figure. Well, consider this scenario if you will. Perhaps, just perhaps, it was Ron Martins intention all along was to pay in full all monies owed to HMRC and not just the £690.000 stated in the original winding up order and the subsequent administration hearing. Perhaps the deal that has raised this £2.1 million has been in the making for a while now, possibly long before HMRC decided to play hard ball, and for various reasons, credit crunch, recession, FF planning amendments etc etc, has taken far longer than anticipated. Perhaps this is why the clubs board were so quick to dismiss the consortiums offer of a buy out and they knew full well what deal was being struck and with who and also it's likely outcome.

In a number of threads I questioned the reasoning behind why it was so difficult to raise the £690.000 when there was so much at stake for everyone concerned. Substitute that £690.000 for £2.1 million and it now makes a little more sense as to the reasons why. If, as some believe, as indeed I do myself, that the money has come as part of the Sainsbury's financing then it makes a certain amount of sense that they would want any future club debts (£1.4 million still owed to HMRC) that could possibly put their project plans in jeopardy paid up in full. I certainly couldn't see Sainbury's financing any part of the development with such a large debt owed to someone like HMRC. After all lets face it. Certain debts you can stave off and work around but HMRC is not one of those, and I think Sainbury's knew it.

I suspect that Ron Martin has had this deal going through for quite a while now and it's just the timing of a number of things that very nearly put the kybosh on things.

Anyway, that's just my take on things. Unfortunately we'll never know all the in's and out's of what went on behind the scenes and we'll just have to make it up as we go, something some of us on here are quite adept at doing if you ask me but I for one am looking forward to us as supporters being able to put this whole sorry episode behind us and moving on to a bigger and brighter future.

Anyone want to borrow my specs, rose tinted of coarse!

UP THE BLUES

Phil

Given everything that has happened in the last 2 weeks that just has to be THE most rose tinted post ever.

Well done.

However, even I cannot imagine that Ron would be actively trying to repay £2.1m of monies when only £660K was being pressed for. Far better business cashflow planning to pay the £660K and wait for winding up orders on the rest before paying them off which gives us very very cheap loan at current interest rates charged by HM R&C which I actually think is 0%.

 

[Bielzibubz]

Given everything that has happened in the last 2 weeks that just has to be THE most rose tinted post ever.

Well done.

However, even I cannot imagine that Ron would be actively trying to repay £2.1m of monies when only £660K was being pressed for. Far better business cashflow planning to pay the £660K and wait for winding up orders on the rest before paying them off which gives us very very cheap loan at current interest rates charged by HM R&C which I actually think is 0%.

But part of my post hinted that perhaps Sainbury's stipulated that in order to get the financing Ron needs all debts had to be cleared with HMRC. Given that scenario and Ron pretty much didn't have a choice regardless of the terms of any deal or the time frame for re-payment. Or perhaps this, you either owe it to Sainbury's with repayment over a period of time through the revenue generated by the new stadium and surrounding businesses or you owe it to HMRC and have to pay up in one lump sum........eventually.

 

[TrueBlue]

But part of my post hinted that perhaps Sainbury's stipulated that in order to get the financing Ron needs all debts had to be cleared with HMRC. Given that scenario and Ron pretty much didn't have a choice regardless of the terms of any deal or the time frame for re-payment.

Have a glass of water turn your xbox on and worry about this another day :)

 

[canveyshrimper]

The chairman could actually tell us where the pennies are from and that would end all speculation. He may state this in the full statement the club may publish at some stage.

Please don't hold your breath.

I've never believed in porcine aviation Ken.

 

[united we stand]

TBH this all sounds totally reasonable to me except , and maybe its me it still isn't 100% clear on whether we had to pay the full amount or just the £660,000

 

[Bielzibubz]

TBH this all sounds totally reasonable to me except , and maybe its me it still isn't 100% clear on whether we had to pay the full amount or just the £660,000

We only HAD to pay the £690.000 but Ron said he's got the money to pay the full £2.1m. If I'm correct.

 

[A Century United]

The chairman could actually tell us where the pennies are from and that would end all speculation. He may state this in the full statement the club may publish at some stage.

Please don't hold your breath.

He may do, or he may be bound by confidentiality clauses by third parties who don't want their rivals to be privy to their financial dealings. We are indeed all fans of SUFC with a deep interest in all aspects of the affairs of the club - but I am afraid that doesn't make us privy (much though some might bemoan that) to every jot and tittle of the behind the scenes dealings that Ron has.

FWIW I think Phil is pretty close to the truth. Ron has always said that he intended to pay the tax money, and that he wanted to avoid administration because he wanted to pay back all the money. There is still a school of thought that says he would have been better off letting us go into Admin and picking through the pieces afterwards, but it seems that he has worked his butt off to do this honourably. Pity that so many are so quick to think the worst of him.

 

[Strykr]

He may do, or he may be bound by confidentiality clauses by third parties who don't want their rivals to be privy to their financial dealings. We are indeed all fans of SUFC with a deep interest in all aspects of the affairs of the club - but I am afraid that doesn't make us privy (much though some might bemoan that) to every jot and tittle of the behind the scenes dealings that Ron has.

absolutely, If anyone delves into the accounts for the last 10-20 years or so, they will see that SUFC has had masive backdated VAT debts and have been shown a high degree of leniency in the past.
in those days before the wonders of t'internet and the zone, aside from backpage echo reports, things like this havent been as much in the supporters scrutiny as they are now. even throughout the jobson era, like many business's the nitty gritty of day to day financial incomings and outgoings have remained behind closed doors, this endless pursuit for complete transparency is only heightened by fans passion rather then just standard paying customers. but in reality complete transparency is unrealistic, decisions are made for better or worse, business plans, forecasts etc to a certain extent have to remain behind closed doors to a certain extent, with regards to maintaining a degree of confidence to potential investors/rivals etc,
not saying this is correct, just reality! im sure bankers could foresee the impending collapse long before joe public got full wind of the extent of the problem.
and closer to home, does anyone really expect RM to release a statement every time he as had a phone call with a potential investor/client only to be knocked back for whatever reason?