National League statement - 24 June 2024

[amsemp]

Looks like the only way out of this is to lodge an appeal, ask for an adjournment and pray to God that both are accepted and that this buys enough time for the deal to be concluded. COSU were willing to pay to get rid of the WUP (well at least some of them were) but they aren’t paying this.

Adjournment under the circumstances has to be the way out of this. And maybe this is the NL’s way of applying yet more pressure to getting this sorted out. If they don’t allow an adjournment in the current situation then the NL will have some blood on their hands if (and I hope it’s if) this club goes under.

 

[Boreham Shrimper]

Looks like the only way out of this is to lodge an appeal, ask for an adjournment and pray to God that both are accepted and that this buys enough time for the deal to be concluded. COSU were willing to pay to get rid of the WUP (well at least some of them were) but they aren’t paying this.

This is the only way forward that I see. The issue I think will be proving to the judge that tangible progress has (yet again, but really this time, honest ) been made. The difficulty I see is that the requirement to post 1m bond which we clearly don't have if you take a glance at the latest accounts changes the picture significantly.

 

[Wickford Blue]

But how many other clubs in NL could post a £1 million Bond.....Braintree. I don't think so! This is just such an extraordinary and unreasonable request and sanction! NL are being real idiots and would be interesting to see this challenged in the courts!

 

[Colblue]

No surprise that NL have made this statement although timing is odd as I thought it might happen after the court hearing.However more pressure on the Martin's to agree to get this done.The council have made there position clear will the Martins respond or continue to drag there feet if they do I dread to think what will happen

I actually disagree, for COSU this is very good timing. Tribal Chief has just said the majority of consortium were happy to pay WUP but no way would they fund this extra £million.
This allows them to reflect on the way forwards knowing all cards are on the table. Imagine if they paid the £500k only to find out about the million bond a day or two later

 

[Tribal Chief]

I know you have connections, is this just your opinion or have you been told this out of interest?

A bit of both. Haven’t spoken to anyone since the NL statement, but I know paying the WUP was a hard sale for many consortium members, and they are really hoping for an adjournment.

 

[Pak66]

@CllrDanielCowan Ron Martin, Julie Martin, Jack Martin and Tom Martin will pay for this. Thanks to them I’m in tears!!!! TIME TO RIOT AT THEIR OWN HOUSE GUYS!

No no no that not as per ShrimpersTrust Board protocol. At a time like this we need to sit on our hands and just make sure that we continue working with all parties and make sure we keep it between board members only

 

[Tommy2holes]

I actually disagree, for COSU this is very good timing. Tribal Chief has just said the majority of consortium were happy to pay WUP but no way would they fund this extra £million.
This allows them to reflect on the way forwards knowing all cards are on the table. Imagine if they paid the £500k only to find out about the million bond a day or two later

If they paid the winding up petition it would meet the requirement of the bond ie the club can meet it's obligations.

There would therefore be no need for a bond. It's not paying the WUP that has created a need for a bond in the first place.

 

[Thundersley Blue]

If The Consortium are handed the Club and can prove they have the funds to get through the season then the Bond won't be required. It had been reported many posts ago, that we were in dialogue with the League, so COSU might have been aware of the League's intention.

 

[Pak66]

Protest group light up your
Proceed at pace,
Show due diligence to adjacent properties

It is gone dead in the water. Please contact Shrimpers Trust for further stay at home don’t rock the boat instructions

 

[Colblue]

If they paid the winding up petition it would meet the requirement of the bond ie the club can meet it's obligations.

There would therefore be no need for a bond. It's not paying the WUP that has created a need for a bond in the first place.

I think you have that wrong, the conditions are ssle of club to consortium is completed or club can prove it has the funds, verified independently to complete the season.
Paying the WUP on its own won’t nullify the bond

 

[Tommy2holes]

I think you have that wrong, the conditions are ssle of club to consortium is completed or club can prove it has the funds, verified independently to complete the season.
Paying the WUP on its own won’t nullify the bond

Of course not but continuing to pay all bills, wages and WUP will.

We are currently at 2 out of 3

 

[Pak66]

Ron’s house must be worth a couple of million assuming it is paid for.

Keep up house is mortgaged to the limit

 

[Tommy2holes]

Keep up house is mortgaged to the limit

I would love to see an episode of can't pay we'll take it away at the martins.

Ron's car being towed away and TVs being unplugged.

 

[Colblue]

Of course not but continuing to pay all bills, wages and WUP will.

We are currently at 2 out of 3

The league are asking for proof funds are there to pay wages and bills every week of the season, hence the bond as they don’t think the club can, the fact that bills are being paid at the moment is irrelevant as they know it’s not club paying them at this moment in time

 

[amsemp]

I would love to see an episode of can't pay we'll take it away at the martins.

Ron's car being towed away and TVs being unplugged.

Ron getting aggressive as the Eastwood money is discovered in the attic.

 

[Holy Joe]

We don't need to pay anything - we can take the other punishment instead!


Not much to add from other posters, seems a really odd move from the NL. Why £1m, why now, why not other loss making clubs? What did they see in the accounts that alarmed them versus season before accounts?

 

[Morty01]

Is £1 million too much?

 

[Holy Joe]

Is £1 million too much?

Yes, by about £999,999.99

 

[Danshrimper]

Appeal - No Precedent so cannot use us as example. In no league in the world as I can find has a club been made to post a Bond!

There is precedent. The National League have done it to Wrexham and Gateshead before.

 

[Tommy2holes]

There is precedent. The National League have done it to Wrexham and Gateshead before.

For how much. I bet it was nowhere near a million