National League statement - 24 June 2024

[Jon h]

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

You’ve probably got good intentions but this a Southend fan forum page not the yours … we’re days away from loosing our club how about u stick to the scum up the a12

 

[Wickford Blue]

There is precedent. The National League have done it to Wrexham n

Not a million - Wrexham was £250,000

 

[bazzashrimper]

We are all frustrated. Imagine if you were in for £3.5m already and they do this

 

[amsemp]

We are all frustrated. Imagine if you were in for £3.5m already and they do this

Honestly I just feel so bad for COSU. Imagine being left with no choice but to walk away. The club the majority of them love essentially dies on their watch and they’re £3.5m out of pocket which Ron Martin sees the benefit of. It’s the stuff of nightmares.

 

[Billy Bests boot laces]

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

How much was wanted from Gateshead, they struggle to get crowds of 1,000?.

 

[xekyn92]

It's the end of the club, there is zero chance the consortium will pay that, nor should they. At this point they'd be daft not to simply walk away and cut their losses.

While it does feel like the NL has dealt the killing blow here, I honestly cannot blame them for it, any animosity from the fans should be directed firmly towards Ron. The sale to COSU should have been concluded months ago, the NL have been extraordinarily patient with us over the last couple of seasons as we've repeatedly failed to pay our players, staff and other creditors. They've clearly run out of patience & goodwill towards us, frankly we're deserving of neither after Ron has continuously delayed and moved the goalposts regarding the sale of the club.

It sucks, but it is what it is, there's only one person to blame for this situation. COSU offered the club a lifeline and Ron squandered it through his own greed, the club absolutely could have survived had he not overly complicated the sale by making it contingent upon his ridiculous and unrealistic real estate developments. Instead the club will wind up as collateral damage when COSU inevitably walks away from this mess altogether.

 

[Sleaford Shrimper]

Not a million - Wrexham was £250,000

Correct but that was 13 years ago. Gateshead were demoted to National League North in 2019 for "financial irregularities" according to Wikipedia.

 

[Colblue]

You’ve probably got good intentions but this a Southend fan forum page not the yours … we’re days away from loosing our club how about u stick to the scum up the a12

I have very good intentions, I do not want to see you guys and girls lose your club.
Your plight is more important than rivalries, they can wait for better days, all my posts on here are as a football fan not a col u fan

 

[Yorkshire Blue]

Might not make any difference after Wednesday

Yep. I was confident that we’d still exist Thursday as everyone wanted the deal done and nobody wanted to be the one to pull the plug. Instead the NL has seemingly done it. I’m dumbfounded.

Anyone in this thread who has (or will subsequently) call out the NL for this need to give their head a wobble. Same as when we got points off, embargo's etc.

Its OUR fault. Not theirs.

It’s a horrendous misjudgment from the NL that makes the takeover more likely to now fail than proceed.

It puts pressure on COSU not Ron.

I had no issue with the points penalty last season but this is sabotaging the takeover.

So if an ownership agreement with the Consortium is made to the satisfaction of the league, then no Bond required. In someways this pushes Martin to get the deal done, it’s clear the league don’t want him involved any longer

It pushes COSU to walk.

So COSU pay the 1 million and get it back once the takeover am I wrong?

Whilst this is the only way the bond would be paid, what sense is there in COSU stumping up £1m that they will lose if the deal doesn’t proceed?

It’s punishing COSU not Martin.

 

[Hooly]

How much was wanted from Gateshead, they struggle to get crowds of 1,000?.

They were fined £3,500 in 2019. Not sure about anything else.

 

[borientater]

Could we not offer to pay the £1M once we get the £20M from Ronald

 

[amsemp]

Yep. I was confident that we’d still exist Thursday as everyone wanted the deal done and nobody wanted to be the one to pull the plug. Instead the NL has seemingly done it. I’m dumbfounded.



It’s a horrendous misjudgment from the NL that makes the takeover more likely to now fail than proceed.

It puts pressure on COSU not Ron.

I had no issue with the points penalty last season but this is sabotaging the takeover.


It pushes COSU to walk.

Whilst this is the only way the bond would be paid, what sense is there in COSU stumping up £1m that they will lose if the deal doesn’t proceed?

It’s punishing COSU not Martin.

Agree with all of that. As I said, tone deaf timing to the point it seems intentional. Feels like the club was on the edge of the ledge with everyone trying to talk us down. And the NL have just dared us to jump.

 

[SUBBlue]

National League Statement: Southend United - The Vanarama National League

The National League has this evening released the following statement regarding Southend United Football Club.

www.thenationalleague.org.uk

I’d like to know where they pulled that figure out of the air from.

Probably they have a blank exercise book & write the rules in crayon as they occur to them

 

[amsemp]

Could we not offer to pay the £1M once we get the £20M from Ronald

If we ever get the £20m, it will be years down the line. The bond is security for the NL that we’ll fulfil fixtures this season. If we put up the bond, it has to be pretty soon.

 

[Southchurch shrimper]

Cannot see COSU paying this, if they do it’s effectively committing them to continue running & funding the club whilst rat prolongs the sale. There would have to be some iron clad guarentees that the sale would complete in x amount of weeks, but presumably everyone expected that to be the case 6 months ago! This just plays into the rats hand again, he doesn’t care about potential sanctions.

 

[Holy Joe]

Agree with all of that. As I said, tone deaf timing to the point it seems intentional. Feels like the club was on the edge of the ledge with everyone trying to talk us down. And the NL have just told us to jump.

I think they've given us a shove

 

[borientater]

I’d like to know where they pulled that figure out of the air from.

I think they have a blank exercise book & write the rules in crayon as they occur to them

Think they’ve charged £1 per lie Ron had told them over the last couple of seasons

 

[* ORM *]

Right announcement, wrong timing. This should have been issued months ago with a reasonable deadline to raise funds or complete ownership. That would have focussed the parties.

 

[amsemp]

I think they've given us a shove

Yeah you’re probably right. I know they hate us but **** me.

 

[Tommy2holes]

It's the end of the club, there is zero chance the consortium will pay that, nor should they. At this point they'd be daft not to simply walk away and cut their losses.

While it does feel like the NL has dealt the killing blow here, I honestly cannot blame them for it, any animosity from the fans should be directed firmly towards Ron. The sale to COSU should have been concluded months ago, the NL have been extraordinarily patient with us over the last couple of seasons as we've repeatedly failed to pay our players, staff and other creditors. They've clearly run out of patience & goodwill towards us, frankly we're deserving of neither after Ron has continuously delayed and moved the goalposts regarding the sale of the club.

It sucks, but it is what it is, there's only one person to blame for this situation. COSU offered the club a lifeline and Ron squandered it through his own greed, the club absolutely could have survived had he not overly complicated the sale by making it contingent upon his ridiculous and unrealistic real estate developments. Instead the club will wind up as collateral damage when COSU inevitably walks away from this mess altogether.

What patience and good will are you referring to?

Last year we were hit with an embargo and a 10 point deduction.

We haven't even started this season and they are demanding a £1,000,000 bond. An unprecidented amount in the history of the national league.

If that's good will, I'd hate to see them have an off day.