Ron strikes gold again ......

[Jam_Man]

Did we ?? Or did we merely take an advance payment for something we had contracted to sell to them ?

What were and are the terms and conditions relating to the transaction ? I don't know, you don't know.

To an extent, I think the future of the club is predicated on the detail of the contracts in place between Sainsbury and various Roncos. We/he might have got very lucky with Sainsbury's apparent cooling off .... or there maybe problems a plenty in the pipeline.

Until things became clear, speculation, whilst it might be fun, is largely pointless.

It obviously was deemed as meant to be part of the sale but it ended up on our balance sheet as a debt, so it wasnt a gift, it had to be paid back.

What remains to be seen is if that amount actually does still need to be, it may be written off by Sainsbury.

If that happens it does not mean we have 5 million in the bank though before someone jumps on that!

 

[onceknownasrab]

Could you define the term schmuckish?
Is it a racial term?
Is it a common expression?

I think you will find that Jam Man was suggesting the poster was a bit of a penis. Its a good, historic Jewish term and though dated it is a common term. Clearly very appropriate still in the modern era. Personally I think its a super word that sounds the same as it means. :smile:

 

[Mick]

I think you will find that Jam Man was suggesting the poster was a bit of a penis. Its a good, historic Jewish term and though dated it is a common term. Clearly very appropriate still in the modern era. Personally I think its a super word that sounds the same as it means. :smile:

Thanks, onceknownasrabbi

 

[onceknownasrab]

Thanks, onceknownasrabbi

Nice one. :smile:

 

[Trucking shrimper]

I always though that schmuck was the term for the discarded piece of foreskin after a circumcision, hence it being regarded as an insult. I may be getting mixed up with something else though!

 

[dbailey3]

I always though that schmuck was the term for the discarded piece of foreskin after a circumcision, hence it being regarded as an insult. I may be getting mixed up with something else though!

That's something like schmeckel isnt it?

 

[chapperzUK]

That's something like schmeckel isnt it?

Didn't he used to play in goal for Man U?

 

[onceknownasrab]

I always though that schmuck was the term for the discarded piece of foreskin after a circumcision, hence it being regarded as an insult. I may be getting mixed up with something else though!

They don't charge for circumcision but they always accept the tips. :smile:

 

[MK Shrimper]

I always though that schmuck was the term for the discarded piece of foreskin after a circumcision, hence it being regarded as an insult. I may be getting mixed up with something else though!

From Wiki, it's just the the whole old chap, not it's balaclava.

 

[Trucking shrimper]

They don't charge for circumcision but they always accept the tips. :smile:

I thought they donated them to Mr Porkies to make scratchings!

 

[Trucking shrimper]

From Wiki, it's just the the whole old chap, not it's balaclava.

I think it depends on where you look, urban dictionary has it as both!

 

[wally4pm]

They don't charge for circumcision but they always accept the tips. :smile:

It would be no skin off my nose if they did. :smile:

 

[Rayleigh boy]

Yeah he must be relieved to have gotten rid of players on a free who could have commanded decen transfer fees. So we had zero outgoings in the first season in league 2 then? Apart from all those players we signed and an ex Prem manager, those are expensive right?

So he has lowered the wages because of the lower income, all part of his plan right? Makes sense, I mean if he was making money from that then surely he wouldn't give the manager a bigger budget for the next season, no don't be daft.

"Yeah he must be relieved to have gotten rid of players on a free who could have commanded decen transfer fees."

Good point - players contracts are assets and he did lose out on this -

the players signed by sturrock were largely free agents (+ blair ?) and cheap as chips compared to the established pros

The football club and possible profits budgets from it and all that were a minimal concern compared with..........

5 MILLION QUID from SAINSBURYS .....

 

[Rayleigh boy]

He could have cut all the costs he did and remained in league one and still receive the extra revenue from being there.

Your theory is somewhat flawed.

I don't think the additional revenue from lge 1 compared to lge 2 is all that much or that any football revenues were significant at all ....

By not paying players and completely undermining Tilson he saved himself loads of cash and in effect tore up/invalidated all contracts so had no liabilities for when 5 MILLION arrived.

If we had survived in lge 1 it probably would have been the same situation - mass clear out and pretend to be broke -

Thank you for patience with me - I know its tedious but I always thought RM cavorting around the law courts was a complete fabrication of the situation - WTF didn't HMRC bury him ?

 

[bazzashrimper]

We had £3.2m of debt which was a liability for when the £5m arrived.

Getting relegated cost us something like £600k a season in tv revenue alone. Add sponsorship, gate income etc and it's probably about a million. I would expect that squeezing some of the players out on frees, for fees and keeping the rest in situ would have been cheaper than losing out in that regard.

 

[THE SEVENTIES NORTH BANK]

I don't think the additional revenue from lge 1 compared to lge 2 is all that much or that any football revenues were significant at all ....

By not paying players and completely undermining Tilson he saved himself loads of cash and in effect tore up/invalidated all contracts so had no liabilities for when 5 MILLION arrived.

If we had survived in lge 1 it probably would have been the same situation - mass clear out and pretend to be broke -

Thank you for patience with me - I know its tedious but I always thought RM cavorting around the law courts was a complete fabrication of the situation - WTF didn't HMRC bury him ?

I've never been so confused by a poster. Congratulations Rayleigh.

 

[Jam_Man]

I don't think the additional revenue from lge 1 compared to lge 2 is all that much or that any football revenues were significant at all ....

By not paying players and completely undermining Tilson he saved himself loads of cash and in effect tore up/invalidated all contracts so had no liabilities for when 5 MILLION arrived.

If we had survived in lge 1 it probably would have been the same situation - mass clear out and pretend to be broke -

Thank you for patience with me - I know its tedious but I always thought RM cavorting around the law courts was a complete fabrication of the situation - WTF didn't HMRC bury him ?

Again, rather flawed as he tore the contracts up some 6 months or so after receiving and spending most of the money.

I have gone through the figures many times over the last 5 years, including the post you actually replied to and every time you raise the 5 million we received.

We did have liabilities and spent half of the money well before we were relegated.

Read this : http://www.echo-news.co.uk/news/8312868.Sainsbury_s_puts___5m_cap_on_its_Blues_bailout/

Here is a nice easy to read couple of paragraphs to highlight it

Evidence drawn up by the club to defend the administration application detailed how Sainsbury’s has agreed to lend a maximum of £5,071,711 to Roots Hall Limited, which owns the current ground and will in turn lend cash to the club.

However, the document showed nearly £3million of this had already been used since November (2009), clearing earlier tax debts. Another £240,000 is due to be spent by next week (Aug 2010) clearing another tax bill and the Charterhouse debt, meaning the club has about £1.8million left from Sainsbury’s to deal with debts and taxes over the next 12 months.



We didnt receive 5 million in one go, most of it was received well before we were relegated, we paid the tax bill in November 2009, per this article : http://www.southendstandard.co.uk/news/7986523.Blues_backed_by___3m_Sainsbury___s_guarantee/http://www.southendstandard.co.uk/news/7986523.Blues_backed_by___3m_Sainsbury___s_guarantee/

So Ron went to court over these debts just as a ruse? The justice system and HMRC submitted winding up orders just for Ron as part of his fabrication? . Hmmn...

You ask why HMRC didnt bury him, simple, because we paid the bills using the money we got. Its all there in black and white.

We never received 5 million in one go, we never had 5 million sitting in our bank account. It really is that simple.

 

[Bobby dazzler]

Again, rather flawed as he tore the contracts up some 6 months or so after receiving and spending most of the money.

I have gone through the figures many times over the last 5 years, including the post you actually replied to and every time you raise the 5 million we received.

We did have liabilities and spent half of the money well before we were relegated.

Read this : http://www.echo-news.co.uk/news/8312868.Sainsbury_s_puts___5m_cap_on_its_Blues_bailout/

Here is a nice easy to read couple of paragraphs to highlight it

Evidence drawn up by the club to defend the administration application detailed how Sainsbury’s has agreed to lend a maximum of £5,071,711 to Roots Hall Limited, which owns the current ground and will in turn lend cash to the club.

However, the document showed nearly £3million of this had already been used since November (2009), clearing earlier tax debts. Another £240,000 is due to be spent by next week (Aug 2010) clearing another tax bill and the Charterhouse debt, meaning the club has about £1.8million left from Sainsbury’s to deal with debts and taxes over the next 12 months.



We didnt receive 5 million in one go, most of it was received well before we were relegated, we paid the tax bill in November 2009, per this article : http://www.southendstandard.co.uk/news/7986523.Blues_backed_by___3m_Sainsbury___s_guarantee/http://www.southendstandard.co.uk/news/7986523.Blues_backed_by___3m_Sainsbury___s_guarantee/

So Ron went to court over these debts just as a ruse? The justice system and HMRC submitted winding up orders just for Ron as part of his fabrication? . Hmmn...

You ask why HMRC didnt bury him, simple, because we paid the bills using the money we got. Its all there in black and white.

We never received 5 million in one go, we never had 5 million sitting in our bank account. It really is that simple.

You take all the fun out of it !

 

[rlb999]

As I've said before, our empire is built on debt. Fortunately Ron is so tied up in our mess personally that he can't allow the ship to sink - if we go pop, he goes pop too. If he can pull the redevelopment deal off, he can clear the debt and exit with his reputation intact. We'll be left with a football stadim - sorry 75% of a football stadium - that we can't afford the upkeep on. If we can't find another benefactor, that's when the real fun will start.

 

[fbm]

As I've said before, our empire is built on debt. Fortunately Ron is so tied up in our mess personally that he can't allow the ship to sink - if we go pop, he goes pop too. If he can pull the redevelopment deal off, he can clear the debt and exit with his reputation intact. We'll be left with a football stadim - sorry 75% of a football stadium - that we can't afford the upkeep on. If we can't find another benefactor, that's when the real fun will start.

Pretty much every football club is built on debt. You can't lay that at Ron's door. It's a football problem, not a Ron problem.

And don't get hung up on the 3 sided ground thing, that's been covered before. It will NOT be Ron's intention to have 3 sides for long. It's the 4th side that will provide most of the income stream.

And the whole FF development relies on footfall. The biggest footfall will be thousands of people for SUFC home games. I've said it before and I'll say it again, it is absolutely not in Ron's interests to let us flounder. For the benefit of the development he needs at least a semi successful club playing in the stadium. The retail park can't survive with an empty white elephant of a stadium just rotting away. These are all perceived fears rather than actual ones.