National League statement - 24 June 2024

[amsemp]

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.

If they relegate us with another embargo and an even bigger points deduction as part of their ‘sanctions’, we’re still their problem in the NLS. So I can’t understand why they’ve not pragmatically assessed the situation and tried to help. Rather than just walk in, throw a hand grenade on the table and walk out again.

 

[Holy Joe]

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.

Yes and remember the appeal judge saying the points deduction was harsh!

 

[Tommy2holes]

If they relegate us with another embargo and an even bigger points deduction as part of their ‘sanctions’, we’re still their problem in the NLS. So I can’t understand why they’ve not pragmatically assessed the situation and tried to help. Rather than just walk in, throw a hand grenade on the table and walk out again.

They do seem to hate us

 

[Westcliff DGS]

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

It does seem a lot, what does it cost for a club to play in the league for a season, wages, policing costs, ravel costs they must be adding these sums together and trying to make sure we can complete the season by having that. I have no idea i am guessing

 

[Tribal Chief]

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.

Of course Ron is to blame. But the NL didn’t have to do this. They have ****ed us. So **** them.

 

[Booma]

It’s a good job we’ve got a spare million kicking around the club to put into this bond. The NL clearly have no confidence in us completing the season, so are chancing their arm and taking what they can get out of us.

This bond (if paid) will hinder the club even more, reducing cash flow to pay staff, essential bills, sign new players. It’s absolutely f****d us

 

[Tribal Chief]

Maybe Shearer and Lineker can stump up £500k each.

 

[Wickford Blue]

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

But did they have to Post a £1,000,000 Bond? The NL have just plucked a number form nowhere with no precedent and no substance!

 

[Yorkshire Blue]

I think this is the leagues way of trying to bring this sorry saga to a close one way or the other, they are trying to force both sides into a corner to complete a deal before there is nothing left to argue over.

Not so much forcing us into a corner but a dead end.

Ditto, looking for a positive, using the ‘if COSU walk away so do the council’ Martin has no place to go now …sign the club over or everything, including his and his son’s dream goes with it

The Consortium don’t want him to sign over the club until the charges are released, otherwise they’ll be liable for £18m of debts. The charges won’t be released until the property deals are progressed.

I feel the National League are very clear in their message to RM and Co "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" So, the consortium take over to the satisfactory requirements of the League, the bond is released back to the Club,

The bond will never be paid.

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…

It doesn’t matter whether it needs to be Wednesday or the evening of the season. It’s not going to be paid.

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.

The rat can’t give the club to COSU because it is mortgaged to the hilt. The Rat needs his property deal to proceed so he can switch the security from the club to the Fossetts development.

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.

That bond is never going to be paid.

It’s closer to nail in the coffin than a loan.

 

[Suomi Shrimper]

This is either:

- a genius intervention designed to apply the final, decisive amount of pressure to the Martins to stop fannying about and complete the sale (possibly without the precondition of a fully-agreed Fossetts deal with the Council?); or

- the most ill-timed, poorly thought out act of sabotage by a major organising body in British sporting history

They've either saved us or ****ed us, and we all have to clench our cheeks until we find out which...

 

[xekyn92]

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.

I don't really consider an embargo that prevents you from acquiring more players to be particularly punitive when you repeatedly fail to pay the ones you already have.

A single 10 point deduction is also pretty minimal when you consider the magnitude of our financial failings and the frequency of which we've been subjected to HMRC winding up petitions. We've been teetering for years now and I'm shocked at how lenient the punishments have been all things considered, there's been multiple other occasions where additional points deductions or expulsion from the NL altogether wouldn't have been entirely unjustified.

Yes the £1,000,000 is extremely heavy-handed and all but guarantees the demise of the club, but they've clearly had enough of the circus that Ron has created. While I can understand why their past punitive measures do not come across as patient or good natured, it's honestly a miracle we haven't ended up at this point sooner.

 

[Tribal Chief]

This is either:

- a genius intervention designed to apply the final, decisive amount of pressure to the Martins to stop fannying about and complete the sale (possibly without the precondition of a fully-agreed Fossetts deal with the Council?); or

- the most ill-timed, poorly thought out act of sabotage by a major organising body in British sporting history

They've either saved us or ****ed us, and we all have to clench our cheeks until we find out which...

You can stop clenching. They have ****ed us.

 

[RHB]

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

Keep posting buddy, your opinions are valued by the majority on here, and we have always welcomed rival supporters provided they post within our rules. Lets face it, without us @Colchester and proud! would have had no purpose in life years ago!

 

[borientater]

It does seem a lot, what does it cost for a club to play in the league for a season, wages, policing costs, ravel costs they must be adding these sums together and trying to make sure we can complete the season by having that. I have no idea i am guessing

They can already see we are losing £2.4 million a year

 

[bazzashrimper]

But did they have to Post a £1,000,000 Bond? The NL have just plucked a number form nowhere with no precedent and no substance!

Indeed.

 

[Shrimper95]

You can stop clenching. They have ****ed us.

Have you heard anything from any of the consortium?

 

[amsemp]

Any chance season tickets miraculously come on sale in the next few days and there’s a Collin, GSM, Kensdale and Cardwell fire sale?

 

[Boreham Shrimper]

Any chance season tickets miraculously come on sale in the next few days and there’s a Collin, GSM, Kensdale and Cardwell fire sale?

If that were to happen surely the 3 amigos would have to walk? As much as Kev loves the club, he could leave with his head held high knowing there was nothing more that he could do.

 

[Smiffy]

Any chance season tickets miraculously come on sale in the next few days and there’s a Collin, GSM, Kensdale and Cardwell fire sale?

Sounds a lot like Administration.

 

[Blues4LifeDan]

You can stop clenching. They have ****ed us.

This really doesn't bode well if you're saying this