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SUFC: The Future It's DONE! COSU Own The Club.

Our hopes and visions for the rebirth of Southend United, plus any plans published by the consortium for discussion
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SOUTHEND UNITED FOOTBALL CLUB LIMITED(THE) charges - Find and update company information - GOV.UK

SOUTHEND UNITED FOOTBALL CLUB LIMITED(THE) - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity
find-and-update.company-information.service.gov.uk find-and-update.company-information.service.gov.uk

Companies House shows three Charge Deeds from March / April 2023- Mezcal Investments, South Eastern Leisure UK, and RootsHall Limited. From memory they totalled about £15m.
 
Yorkshire Blue said:
£38m is easy to come up with as the accounts show the club lost somewhere between £1.5m-£2m each year of RM’s tenure.

That’s now an amount that the Consortium will need to fund each year until they have us back at break even.

I think there are **some** cost savings (the legal fees are astronomical and are almost entirely racked up by misrunning the club; not having to pay penalties for late payment etc) and there is potentially some growth in income to be had (e.g. boost in season ticket sales, more sponsors, better food and drink etc) but I think we’re still looking at seven figure losses for the next couple of years and that doesn’t factor in the need for capital investments.
Click to expand...

Call me sad but ........... I find the calculations relating to the actions & finances for the club for the next couple of years to be very interesting. I would love to see the back of an envelope calculations as to how the club is going to get onto an even footing.

Obviously good results on the pitch/attractive football/high league positions normally means more income but one can't rely on that & I can't see the consos gambling on promotion by pumping in a load of dosh for players.
 
Rattus Norvegicus said:
Call me sad but ........... I find the calculations relating to the actions & finances for the club for the next couple of years to be very interesting. I would love to see the back of an envelope calculations as to how the club is going to get onto an even footing.

Obviously good results on the pitch/attractive football/high league positions normally means more income but one can't rely on that & I can't see the consos gambling on promotion by pumping in a load of dosh for players.
Click to expand...
You’re sad
 
Rattus Norvegicus said:
Call me sad but ........... I find the calculations relating to the actions & finances for the club for the next couple of years to be very interesting. I would love to see the back of an envelope calculations as to how the club is going to get onto an even footing.

Obviously good results on the pitch/attractive football/high league positions normally means more income but one can't rely on that & I can't see the consos gambling on promotion by pumping in a load of dosh for players.
Click to expand...
They won’t be spending loads on players’ wages, that’s for sure. The immediate target I’d say is to raise cash by improving catering/facilities and non match day revenue. Martin totally neglected that side of things of course, by selling us the Fossetts dream and telling us we had to move to make money. It wasn’t in his interests to make staying at RH sustainable.
 
Sammy Shrimper said:
More importantly, will Ron Martin now write off these charges?
Click to expand...
The agreement as I understand it is for the charges to be transferred to FF upon planning permission and then Roots Hall freehold will transfer to the consortium. In the interim we have a long peppercorn lease 25yrs which is also to be extended for £1 to ensure that the consortium have sufficient confidence to invest in Roots Hall
 
Hadleigh Blue said:
The agreement as I understand it is for the charges to be transferred to FF upon planning permission and then Roots Hall freehold will transfer to the consortium. In the interim we have a long peppercorn lease 25yrs which is also to be extended for £1 to ensure that the consortium have sufficient confidence to invest in Roots Hall
Click to expand...
That’s Roots Hall, but i’m concerned about Southend United Football Club Limited, which has £15m of Charges. Ron Martin is a financial shyster!
 
Sammy Shrimper said:
That’s Roots Hall, but i’m concerned about Southend United Football Club Limited, which has £15m of Charges. Ron Martin is a financial shyster!
Click to expand...
I guess the consortium are the chaps to ask, however I can only assume they have entered into the agreement with eyes WIDE open and will have written into contract anything that would put them or the club at risk. Let’s face it your not going to overlook £15m.
 
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