Breaking News New COSU Member & Investor - Shivaas Gulati

[Blues ‘n’ twos]

Exciting times ahead

 

[Holy Joe]

Not wanting to speak for @thenobster, but as @Yorkshire Blue says, if something seems too good to be true, it generally is.

That being said, does anyone know who holds the controlling share, if there is one at all?

Not quite sure what you mean by controlling share. Originally we were told no one in COSU owns more than 50%, so no one person can dictate anything. Company filings has shown that both Justin and Jason own, I think it was, between 30% and 50% of COSU each.

 

[tottenham541]

Should be interesting come January or even more so pre season, see if we sign many players for££££s

 

[gatecrasher]

If any of us had decent money behind us we would want to be part of helping/ running the club. I don't see this as a bad thing.

Investment to help support the club get back to a point where we can be self sufficient, which is in my opinion achievable, certainly at league one and league two level, above that level now sadly you need to be someone's plaything to compete.

 

[Wickford Blue]

I’m wary of this news. I think Anton Johnson getting involved was initially welcomed, I think Vic Jobson getting involved was initially welcomed, I think Martin Dawn buying out Jobson was initially welcomed so you’ll understand why I’m going to be cautious.

I actually really liked that we were owned by, one member aside, a local consortium of people who had grown up in the area and had Southend in their blood.

I’m wary of a board that half are based in Amsterdam, Hong Kong and Seattle. Are they going to have their finger on the pulse? I’m wary of a consortium where there are massive wealth disparities.

If I’m being honest I don’t like the idea of being a billionaire’s play thing and I don’t like the idea of us being someone’s investment. I get that that is the world we live in but I’m not going to celebrate it.

Hopefully he is a good addition, hopefully the consortium have done their DD but I’ll wait to see how this turns out before celebrating. Sorry for being cynical but when something is too good to be true there’s usually a reason why…

Yea I would be worried in case we had a Board and Chairman where we are just a Plaything.........but if that Board is all worth Millions and not a Chairman that needed to have the club as a way of making millions for themselves by running the club into extinction surely wouldn't that be more of a worry.........oh hang on didn't we just come from that situation??

 

[stewart]

Not wanting to speak for @thenobster, but as @Yorkshire Blue says, if something seems too good to be true, it generally is.

That being said, does anyone know who holds the controlling share, if there is one at all?

didnt one of the posts say JR had 70% off the shares and was looking to off load some to reduce his payouts a little , If so then JR must hold the controlling share .Anyway i believe this happening is good for the club and the aim of COSU is still to regenerate RH and hopefully make the club self sustaining ,yes it will take time ,probably wont happen in my life time as im now 78 years old but will happen and we will make it back into the EFL and eventually the championship . Be patient !!

 

[Danshrimper]

Not wanting to speak for @thenobster, but as @Yorkshire Blue says, if something seems too good to be true, it generally is.

That being said, does anyone know who holds the controlling share, if there is one at all?

What seems too good to be true? I know people have jumped to (probably incorrect) conclusions about silly money being pumped in. But there is no indication that this is the case. In fact there is no evidence anywhere online as to the sort of wealth Gulati has.

 

[Smiffy]

https://twitter.com/x/status/1854959182283231356

 

[Holy Joe]

didnt one of the posts say JR had 70% off the shares and was looking to off load some to reduce his payouts a little , If so then JR must hold the controlling share .Anyway i believe this happening is good for the club and the aim of COSU is still to regenerate RH and hopefully make the club self sustaining ,yes it will take time ,probably wont happen in my life time as im now 78 years old but will happen and we will make it back into the EFL and eventually the championship . Be patient !!

No, no one owns over 50% of shares of COSU - I assume that is still the case after this guy has joined

 

[annie1954]

Dunno, all sounds a bit suss. Only time will tell. Hopefully no money laundering going in

it`s being so happy that keeps you going .

 

[JD]

Pretty sure this is about business acumen (tech) and not some rich guy pumping some money in.
From day 1, COSU has been about building a sustainable club.
Someone pumping £££’s in for big money players doesn’t do that.

 

[Strykr]

11 consortium members, no-one has yet mentioned that we could save on wages by selling the first team players and using the consortium instead.
Self sufficient overnight.

Thank me later.

4-4-2?

 

[Tommy2holes]

Pretty sure this is about business acumen (tech) and not some rich guy pumping some money in.
From day 1, COSU has been about building a sustainable club.
Someone pumping £££’s in for big money players doesn’t do that.

I'd be interested to see how tech will benefit the club greatly. Beyond streamlining and potentially improving the matchday what exactly else can tech do for the club.

Just a genuine question. We are a national league football club not a cutting edge city based start up.

 

[Shrimp and two veg]

Looking forward to an injection of tech, already we've gone from mushrooms growing in toilets to touchscreen pads in the West stand, leaps and bounds in month 3.
Wifi and under chair heating in the West stand would deffo improve my customer experience lol, but to take control of tech and take us forward with perhaps ticketing, socials and the other aspects he spoke about will definetly push us along. I see this as encouraging of course, more importantly i see this as Justin leaving no stone unturned and having the ability to deal with everything that needs doing.

 

[Strykr]

I'd be interested to see how tech will benefit the club greatly. Boyond streamlining, and potentially improving the matchday what exactly else can tech do for the club.

Just a genuine question. We are a national league football club not a cutting edge city based start up.

Chat GPT: whats the beat formation to play against Tamworth?

 

[Chrisb]

COSU have cleared the club's historic debts so I suspect that the investment that had been made is to chip away at a %age of that bill.

Brown and Rees also own >75% of COSU so the other interesting point will be to know how that pie is now sliced with a new member.

I am sure it is fair to assume that the complexities and delays to the takeover meant that COSU invested more than was originally planned just to keep the club afloat. The debts may well have been more than first estimated too. It seems that this additional investment hasn't been rushed into, we don't know how much it is - I think Justin has shown us that he cares for the club and if someone is willing to join COSU and help us then I think we should trust his judgement, along with the other COSU members, I doubt they have unlimited available funds.

 

[ms brush]

But Ron said no-one was interested in buying the club.

This is great news and we clearly have a team of directors that combine a love of the club and business accumen.

The point was that no-one was interested in buying from him or his business practices. With him finally gone, the sky's the limit!

 

[BoyWonder2]

I am sure it is fair to assume that the complexities and delays to the takeover meant that COSU invested more than was originally planned just to keep the club afloat. The debts may well have been more than first estimated too. It seems that this additional investment hasn't been rushed into, we don't know how much it is - I think Justin has shown us that he cares for the club and if someone is willing to join COSU and help us then I think we should trust his judgement, along with the other COSU members.

Correct.

A number of people/companies that were owed money under RM, and had wrote it off as a “it’ll never happen” suddenly got on the phone once the takeover had gone through and got their money back. As COSU are men of their words, they paid it back or agreed payment plans.

Obviously, well entitled to demand their money back but it certainly wasn’t budgeted for initially.

 

[Holy Joe]

Correct.

A number of people/companies that were owed money under RM, and had wrote it off as a “it’ll never happen” suddenly got on the phone once the takeover had gone through and got their money back. As COSU are men of their words, they paid it back or agreed payment plans.

Obviously, well entitled to, but certainly wasn’t budgeted for initially.

Debts must've been in the accounts though right - or was the accounting fraudulent?

 

[THE SEVENTIES NORTH BANK]

No, no one owns over 50% of shares of COSU - I assume that is still the case after this guy has joined

You are correct.