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National League statement - 24 June 2024

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Read only some of the comments on here., so apologies if I am repeating. We need the Council to remain firm that they will walk if the Consortium does. The only way out of this is to separate Roots Hall from Fossetts. Ratty should give the Club to COSU, they would pay the debts and we start afresh. Ratty can then contnue trying to screw the Council. Hopefully he has met his match.
 
Shrimpermattp said:
I read that as - if Ron sells to the JR et al, then we won’t have the pay for £1m bond and we all can move on. I read it as forcing the Rats hand?
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It ok in itself but there is a WUP and it’s going to be some the court will take into consideration- in particular they will not like for one second any suggestion of this bond being paid in advance of settling creditors who absolutely come first in the eyes of the court? Even if good intent it makes it very very messy - and the timing bizarre?
 
It’s not the nl fault they have to have so many teams been able to see the season out we can’t they are fed up with all the crap our club has gone through as we are other clubs have gone by the wayside the more the deal dragged on it looked bad
 
kentblues said:
But when does the bond need to be paid? If it’s just before the season starts it’s one thing, if it’s now it’s another? In fact how can they release the statement with no attaching dates/timelines- clearly drafted by the same people who drafted the league rules…
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Ye it’s hard to know for sure. Presumably it will be appealed to buy time, that’s what we always do.
 
It isn’t good news but a bond is much closer to a loan (that will be repaid at a future date) than a payment (unless we default). It’s the NL’s form of insurance. They aren’t saying you have to pay us 1 million to play in the National league next year without the repayment aspect.
 
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Would be nice to see a statement from other NL Teams asking the NL why they are not trying to help rather than almost push us out of business.

I still cannot fathom this from the NL.
 
Gremlin said:
Something doesn't smell quite right about this, particularly with no mention of a deadline or any penalty for non-compliance.

I wonder if the consortium have got the NL onside and have requested they give the rats a bit of a hurry-up.
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Exactly this I believe
 
Think about it from the perspective of any other club.

You've got a team very capable of beating teams in the league, being funded unsustainably by a potential owner. If that potential owner pulls funding mid-season and the club goes bust, you end up with half the fixtures getting 3 points, and half the league sticking with the results played. (Or however they would resolve the issue...)

Come the end of the season, if you had lost points against this club and missed out by 3 points, you would all come on here and post, '**** the National League / FA for not taking action to ensure they were running sustainably to finish the season'.



I can't see the bond actually being paid. I can see Ron taking it to the final hour and then selling to JR/Consortium to avoid the bond being required.
 
Tribal Chief said:
Yes, but what are the consequences if he doesn’t pay or doesn’t sell? The council still need their houses and Ron still owns the land. I don’t see any council saying that they won’t allow housing to be built because the landowner ****ed over the football club. This is an unnecessary and irresponsible move by the NL. They have been consistently harsh to SUFC. And I reiterate - **** the NL.
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If the timing of paying the bond is before the season starts then it forces the sales to complete before then. In isolated potentially a good thing. But the timing and the fact we have a WUP in a couple of days does on the face of it support your viewpoint…
The deal would never close before the WUP so much better allow the club to a get adjournment and then produce their ultimatum. Instead this make adjournment less likely (not to say it can’t happen..)
 
kentblues said:
If the timing of paying the bond is before the season starts then it forces the sales to complete before then. In isolated potentially a good thing. But the timing and the fact we have a WUP in a couple of days does on the face of it support your viewpoint…
The deal would never close before the WUP so much better allow the club to a get adjournment and then produce their ultimatum. Instead this make adjournment less likely (not to say it can’t happen..)
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We really need the WUP to be withdrawn.
 
1 million pound bond or what ? They have a meeting about it…. There is some way to go before we’re finally sunk. Another example of how the dithering when in sight of a deal means the deal gets overtaken by events. From the credit crunch all those years ago when everything was lined up to this time when an election and the leagues exasperation complicate what seemed fairly straight forward 7 months ago. The Martins are not business geniuses playing a blinder they are trying to be so clever they are tripping over their own shoelaces they forgot to tie up.
 
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