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National League statement - 24 June 2024

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This feels like the end now, more so than ever. We've ridden our luck (or should I say Ron has) to get to this point but now, I just don't see how we get through this. That said, a big **** you to the National League who have done absolutely nothing to help us or the situation we find ourselves in thanks to Ron. Joke of an organisation. And of course, **** YOU RONALD.
 
Cricko said:

National League Statement: Southend United​


 9 minutes agoBy Tom Scott

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

The National League continues to be concerned about Southend United Football Club’s ability to fulfil its financial obligations for the forthcoming National League Season.

The Club has for several months been the subject of a winding up petition (a further hearing of which is scheduled for this week) and, on 20 June 2024, filed its accounts for the year to 31 July 2023 which underscore and amplify the concerns expressed previously by the League.

Accordingly, the National League has today advised Southend United Football Club that as a result of the Club’s failure to provide the League with detailed, objective and independent evidence that the Club has sufficient funds to meet its financial obligations for the forthcoming National League season, and in light of previously-expressed concerns (underscored by the most recently-filed accounts), the Club will be required to post a bond of £1million, which will be held in escrow to the order of the League.

The bond shall remain in place until the sooner of (i) an ownership agreement with the consortium currently in talks with the Club being successfully concluded, to the satisfaction of the National League and the FA; or (ii) the Club demonstrating, to the satisfaction of the National League, that is has sufficient financial resources within its own means to meet its financial obligations for the forthcoming Season.

In the event that the Club fails to post the Bond in accordance with the requirements that have been communicated to the Club, the National League Board will meet again to consider further sanctions against the Club.
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Might not make any difference after Wednesday
 
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Spaceman Spiff said:
This feels apocalyptic, but perhaps it isn’t. The Martins can’t string everyone along forever. Basically the League are saying to the Martins “ok, you want to cling on and hope for court adjournments - well, we’ll put a stop to that unless you pay us a million quid or sell up to the consortium”. There will of course be a deadline but I didn’t see it in the statement?

Hopefully, this was known to the consortium and is part of the wider strategy to keep the rats in a corner and cut of all avenues of escape.

Otherwise, it’s **** your pants time. ☹️
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Maybe but means the suggestion that the plan was an adjournment on Wed is wide of the mark. That option becomes a non-starter
 
Some go nail a copy of this to Ron's head for me... many thanks every Southend fan #ButILoveTheClubYouFuckingIdiot
 
MisterStubbs said:
This feels like the end now, more so than ever. We've ridden our luck (or should I say Ron has) to get to this point but now, I just don't see how we get through this. That said, a big **** you to the National League who have done absolutely nothing to help us or the situation we find ourselves in thanks to Ron. Joke of an organisation. And of course, **** YOU RONALD.
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I get you're hugely frustrated and annoyed, as we all are, but we can't blame the NL. They have to safeguard their league. The only 'joke' is us as a club thanks to Ron. We've been a laughing stock for years. Since being in the NL, we've not paid staff, players or our bills. This kind of thing was always going to happen. In their eyes, why would they take the risk of letting us enter their league when there is no solid foundation that this hell will finish? Like COSU, they want a guarantee that we can fulfill our obligations as a member of their league. Only one person/family to blame here.
 
Well we know Ron won’t / can’t pay it. No club means no development. This really leaves Ron no option but to take the deal offered by the Council and somehow he needs to raise the £1m pretty quick. For me this is on him to sort not the consortium. He has far more to lose.
 
You would think the only way out is to settle the WUP and convince the league appropriate support in place to fund the club which will require guarantees/collateral via the Matins/their partners

The judge on Wed will no doubt be aware of this and it does not improve the chances of an adjournment
 
It really is ****e from the NL.
They know the issues and how COSU are trying to buy the club they could have at the least given us some Lea way to sort out all of this mess which has been caused by one person
NL do seem to hinder and not help and if they know our financial affairs and that WE HAVE NO money why sent that limit as a bond
 
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