Breaking News Monies paid to HMRC..Now on the OS

[the_goat]

BB, your forgetting one salient point which I think should be taken into account. We don't know for sure where this money has come from and on what terms and time scale this short term loan, if that indeed what it was, has been made possible. It's perfectly feasible that all monies coming into the club are intrinsically linked to any future property developments made by the club and that the repayments aren't due until FF and it's ancillary revenue streams are fully on stream, thus making any such repayments all the easier for the club to bare.

How do we know that the £2.1 million that's been made available to pay off the HMRC debt hasn't been part of a much larger financing deal that's been in the making for months? It's perfectly possible that the money is part of the overall finance deal that's been done to supply the funds for the development of Fossetts Farm, and if that is indeed the case then it's no doubt been budgeted for in the overall plan.

If so many people are so up in arms about where this £2.1 million has come from and that in their opinion it's just staved off the inevitable then why aren't these same people absolutely apoplectic about the money that Fosstets Farm is going to cost and ultimately have to be paid back?

I really don't get this whole 'glass is half empty' attitude so many supporters seen to have.

Phil

An intelligent, sensible, and POSITIVE post.

 

[Benfleet Blue]

BB, your forgetting one salient point which I think should be taken into account. We don't know for sure where this money has come from and on what terms and time scale this short term loan, if that indeed what it was, has been made possible. It's perfectly feasible that all monies coming into the club are intrinsically linked to any future property developments made by the club and that the repayments aren't due until FF and it's ancillary revenue streams are fully on stream, thus making any such repayments all the easier for the club to bare.

How do we know that the £2.1 million that's been made available to pay off the HMRC debt hasn't been part of a much larger financing deal that's been in the making for months? It's perfectly possible that the money is part of the overall finance deal that's been done to supply the funds for the development of Fossetts Farm, and if that is indeed the case then it's no doubt been budgeted for in the overall plan.

If so many people are so up in arms about where this £2.1 million has come from and that in their opinion it's just staved off the inevitable then why aren't these same people absolutely apoplectic about the money that Fosstets Farm is going to cost and ultimately have to be paid back?

I really don't get this whole 'glass is half empty' attitude so many supporters seen to have.

Phil

Bielzibubz I can understand your reasoning behind this BUT SUFC does NOT own Roots Hall and nor will it own Fossetts Farm.

We struggle to fill a stadium of around 11,000 BUT are supposed to be moving to a stadium with a capacity of 23,000. Are we to believe that SUFC will NOT be charged rent for the new facility?

We have never been informed as to what revenue streams SUFC will receive from Fossetts Farm development and if the deal to raise the money was part of a much larger overall plan, unless the lender is prepared to write off the 2.1 million loan, then the club is no better off financially, it has merely changed it's creditor from HMRC to a third party.

Unless the workings are explained then this is currently the situation, whether or not you like it.

Our squad is now smaller than most non league clubs and quite truthfully is pathetic with no numbers, depth or back up. Tilly and Brush have worked wonders with their hands tied, my hat is off to them.

When everyone was frantic about the events of the past 2 weeks, with the possibility of administration of SUFC, a consortium emerged with a promise to effectively save the club, pay off it's debts and make funds available to Tilly to get extra players in.

Their commitment was shown and their interest was, whether you admit it or not, THE FUTURE OF SUFC.

My question is whether RM really has the interests of SUFC at heart or whether, as a property developer, his sole interest is the development of Fossetts Farm and the ultimate profits that will bring in.

So if you don't get the 'glass half empty' attitude of many supporters then I can only state that the next few weeks or months will show who's interests RM really has at heart.

If you believe, by switching the loan source and the transaction being part of a larger plan, then things are all rosy thats your prerogative, but do look at the real position of SUFC at the moment, look at the squad, look at the players such as Lee Barnard and ask yourself if he has had problems being paid and is good enough to move to higher levels, why would he sign a new contract. If the same situation applies to Tilly and Brush, and it probably does, and they have families to support, then it probably means the Club would be in breach of their contract and they could walk at any time. Imagine just how difficult it is for Tilly and Brush to motivate a drastically depleted squad that isn't being paid or is being paid late.

Are things rosy ?

I think not.

Will the loan being paid off by a third party change the situation.

Who knows ?

Lets just wait and see.

 

[Mad Cyril]

In the current financial climate I doubt it is particularly easy to get a £2.1 million loan to pay of a tax debt without the lender being pretty sure they are going to get their money back.

 

[A Century United]

When everyone was frantic about the events of the past 2 weeks, with the possibility of administration of SUFC, a consortium emerged with a promise to effectively save the club, pay off it's debts and make funds available to Tilly to get extra players in.

Their commitment was shown and their interest was, whether you admit it or not, THE FUTURE OF SUFC.

I'm sorry, how can I constantly be abused for my Rose Tinted Glasses when statements like this are being made? We have absolutely no evidence of what the Consortium's intentions and reasons for bidding were except the minimal amount they snuck into the Echo. To say, based on that, that

Their commitment was shown and their interest was, whether you admit it or not, THE FUTURE OF SUFC.

is so rose-tinted as to be risible.

 

[BLUEBLOOD]

Exactly ACU, all those of us with rose (blue) tinted specs are decried and mocked .. yet the anti-brigade continue to churn out the same old boring arguments

I give up sometimes

 

[philtalkin]

The only difference between the consortium and Ron is that the money effectively 'loaned' by the consortium should be written off when we are unable to pay it back.

Whereas Ron, will expect the club to stand on its own two feet and will at some point refuse to write off any debts owed to his other companies. At this stage he will sell up, take his money and run.

Unless we have missed it, the full list / names of consortium members has not been announced and, more importantly whether they are genuine SUFC fans. Even if they are unable to attend every game, you would expect every single one of them to have been season ticket holders for quite a number of years.

Why don't they all come forward?

 

[superblue24]

Hopfully at least 3 new faces.

We are only allowed 4 more loan deals this season.....Any one club can have only 10 loanees per season in total....We have had 6.

 

[BLUEBLOOD]

We are only allowed 4 more loan deals this season.....Any one club can have only 10 loanees per season in total....We have had 6.

See Hoolys thread about loans

 

[Jam_Man]

My question is whether RM really has the interests of SUFC at heart or whether, as a property developer, his sole interest is the development of Fossetts Farm and the ultimate profits that will bring in.

Why cant he want both ?

If he was interested solely in maximising profits the plans for the stadium wouldnt be so ambitious.

Id say 100% of people on this board would have been surprised at 22,000 capacity yet Ron Martin decided that was what the club needed. He could easily have got away with a 16,000 capacity 4 stand stadium like Col U if he was out to just make money.

Im convinced he wants to progress the football club and the new stadium allows us the possibility to do that, and for him to make a profit.

 

[TrueBlue]

Why cant he want both ?

If he was interested solely in maximising profits the plans for the stadium wouldnt be so ambitious.

Id say 100% of people on this board would have been surprised at 22,000 capacity yet Ron Martin decided that was what the club needed. He could easily have got away with a 16,000 capacity 4 stand stadium like Col U if he was out to just make money.

Im convinced he wants to progress the football club and the new stadium allows us the possibility to do that, and for him to make a profit.

16,000 is too small for our club

 

[Rusty Shackleford]

160,000 is too small for our club

I agree wholeheartedly

 

[grassroots]

Right, i am not a business man, nor do I (like 99.99% of the posters on here) know exactly how the money has been raised/paid etc - but, IT HAS BEEN PAID.

As I have said before, football as a whole is on the verge on going bankrupt, not just southend !! We were in debt when Ron saved us, and we remain in debt now , we are a small club, yet 50% of people on here and in the ground, due to recent success on the pitch, believe we now should have much larger expectations. Our average gate is around 7,500, which, on the basis of an average ticket price of 15 quid, is only GBP 112,500 per game (which is less than some footballers take home EACH F**KING WEEK) !! it is a sign of the bad times, all clubs face, when ONE footballer, could himself settle the debt of an entire football club.

Ron has gained finance to pay a debt, full stop. Do I trust Ron, I dont know, I dont know him - but we have to rely on him at these times, because he holds our furture in his own hands. He owns the club and also the ground (fyi without a ground we cant play football matches !!), yet fans on here have been abusing him, slagging him off, is this not a dangerous stance to take, because he could just think "f**k it, I dont need this" !!

Don't get me wrong, I am not saying "lets all follow Ron with everything he says and does", I just think we need to add support in these very difficult times - constructive critism and concerns are part and parcel of freedom of speech, but some of the threads and comments have been quite frankly ridiculous !!

As I have said in another thread, we have supporters over the past 18 months saying l
"lets buy him, him him and him, Ron is not supporting Tilly, blah blah", however as indicated above, the money we generate does not support this, so there must be financial assistance from else where.

This is not a post that is pointing fingers, however when Tilly has been supported in the market, money has been wasted on signings such as Paytner and Foran, money clubs like Southend can ill afford to lose. As I have said in all other threads, I love Tilly, so this is not a bash at him, just a case in point !!

I know this post will get shot down and I'll prob be burdened with neg rep, however, i feel it needed to be said. I am nt wearing rose tinted glasses, I dont think that ron is the new messiah, and I do realise that we are not out he woods yet, however as I stated above, neither is football as a whole (again you can also count Chelsea ( the "loan" from roman), Man Ure, Liverpool, Newcastle etc etc ) - but we need to realise where our bread is buttered and who is holding the knife.

So we can head into next week with the same points as we had last week ( a positive ), and we can hopefully have the transfer embargo lifted and allow Tilly to enter the loan market (where I personally feel he excels) (another positive) - we should be able to survive in this league (which is fine by me at the moment, stability and continuity is the key for long term success) for this season - which we all need to be realistic should mean that things a little brighter than they have been recently.

BUT IT WILL STILL BE A LONG HARD SLOG !!

AS ALWAYS, UTB's !!!!

(PS I am a long term supporter and season ticket holder of 25 years, so I have been through the tough times as well )

The two highlighted points are the reason for the negativity. When RM and his crew took over were in the sh*te to the tune of £4.5m ish, but the club owned the ground and Boots and Laces. After 10 years or so in charge, the Club is even further in the red, but now RM and Co own all.

I'll believe in our saviour if and when he comes up with the goods and clears our club of these debts and secures its future - so far he seems to be working with borrowed money against future developement profit.

Who is actually working solely FOR the club with this issue - as far as I can see no one.

 

[Pubey]

SSN have just covered the story

 

[weststander]

We are only allowed 4 more loan deals this season.....Any one club can have only 10 loanees per season in total....We have had 6.

EErrrr we are allowed 12 short term (up to 93 days) and 4 long term loans a season.

I make it that we've had 2 long terms (sawyer and mvoto) and 4 short term (Heath, White, Friend, O'Donovan). So by my reckoning we have 8 short Term and 2 long term loans left, plenty for Tilly to work with i'm sure.....