Sale of Southend United to Justin Rees and his consortium

[GIBBO]

Justin is an arsenal fan.

Hopefully, got Ron to his box. Got his firm in the box. Went all Tony Tucker / Pat Tate on him. Ron signed the deal as a result. We have new owners.

I've dreamt this last night

 

[Hawkwell Blue]

Its far far from a straightforward process and yes RM could try and put the club into administration.

An administrator will attempt to steer the club through to new ownership but there is absolutely no certainty that they will be able to generate enough funds to pay the day to day running costs nor is anywhere close to a given that their judgment won’t be that creditors are better served by insolvency as opposed to allowing either a CVA or selling the club to a new ownership group and forming a New Company

And that’s just the start of things you have a whole stack of things to navigate such as the charges taken against everything of worth . You have the issues of where to play because the club doesn’t own RH . Any NewCo would have to convince the administrators that they have sufficient funds to trade enough funds to Frank any security HMRC insist on and then you have to convince the NL .

Being in administration as we know brings with it an automatic 10 point deduction as well as a prolonged embargo Possibly for another two years ( that’s the time that Wigan are having to endure)

Any NewCo will have to ensure Football Creditors are paid in full and come to agreement with other creditors to pay I believe around 25% of the total debt over a 2 year period or 33% over 3 years.If that can’t be agreed there will an automatic relegation as a minimum.

Going into Administration guarantees absolutely no certainty to a future at best its going to be a particularly challenging going forward if for no other reason because of the ownership issues around RH and of course the myriad of issues that haven’t been addressed over the last few years.

I don’t mean to be so negative but I can see no great grounds for celebration if Administration does happen. Is it a better outcome that Insolvency? Without doubt it is in the short terms but past that short period is the big concern

Thank you for that, not great is it but then hope has pretty much run out know. Appreciate your reply. Utbs.

 

[CC51DAS]

FBM, you may well be right that the JR offers are not 'reasonable', If I was buying a business from Ron Martin. given what he has done to this club and the money that will be needed for a long-term rebuild, I'd also offer him nothing for his pile of **** and ask him to cough up out of all the lovely profits he and his sons stand to make on their FF empire. I'd tell him its th best deal he's going to get.

So you may have a point - but would you agree that if the fanbase was to unite in a campaign to put JR under pressure to increase his offer he might well think sod this I'm off?

 

[tommy tucker]

10 days left or maybe 9 if they turn the lights off at the hall .Its so sad to think the club i have supported from a lad of 10 may wel soon not be around anymore .My mates that have passed away must be turning in there graves to think what one person has done to our club .

 

[rshepp]

RM would be laughing. Even at that press conference he was suggesting having to lose £20m out of the FF to build a stadium (minus a sale price).

An earlier poster suggested that if your house is run down then that is taken into account for the sale price. Agreed. The fundamental difference here is that the whole FF development, which is the money maker, is enabled because of SUFC. This is why Ron bought SUFC. If Ron doesn’t do this deal (and to my mind drop SUFC more like £20m out of his profit) then he shouldn’t be allowed to make build the flats. It’s such a shame there isn’t more land like FF in Southend - JR could just buy that, do the deal with the council - take the money for himself and the club. This would properly screw the rat leaving him with £30m of debt on land that is no longer viable to build on - so his £40m valuation hits the floor and he’s done.

Anyone know if it’s feasible to build a stadium where those training pitches are? And build training pitches just outside of Southend?

Exactly what I have been thinking.
A small stand,, covered terracing around.
Changing rooms.
A good place for a new beginning should the club fold.

 

[West Stand]

FBM, you may well be right that the JR offers are not 'reasonable', If I was buying a business from Ron Martin. given what he has done to this club and the money that will be needed for a long-term rebuild, I'd also offer him nothing for his pile of **** and ask him to cough up out of all the lovely profits he and his sons stand to make on their FF empire. I'd tell him its th best deal he's going to get.

So you may have a point - but would you agree that if the fanbase was to unite in a campaign to put JR under pressure to increase his offer he might well think sod this I'm off?

Whilst I too have no idea if protests of the nature we have witnessed have had any effect on RMs decision making I have absolutely no doubt that those that feel so angry so impacted at least feel they are making a difference.

Without knowing the details of the offer made to RM we can to a degree read between the lines (thank God I am not he) but the bottom line is RM is a seasoned property developer and having witnessed how a significant number deal with public attacks, abuse and threats it tends to very much becomes water off a Ducks Back to the vast majority the only KPI they have is measured by way of £s

Thats why I am so concerned not because of any sense of guilt kicking in but because I just can’t see what would motivate RM to in effect give RH away as opposed to a profit either he or his sons will unlock if they keep hold of RH

 

[Tangled up in Blue]

Anyone else getting a 404 error when they try to access the OS? Could be those rumours about our media staff not being paid are true.

 

[Napster]

Anyone else getting a 404 error when they try to access the OS? Could be those rumours about our media staff not being paid are true.

No- maybe you've not paid your bills?

 

[West Stand]

Exactly what I have been thinking.
A small stand,, covered terracing around.
Changing rooms.
A good place for a new beginning should the club fold.

And that almost certainly would although RH stadium to become derelict and after 5 years it being a Brownfield give the green light for an application to redevelop the whole site as housing

 

[Tangled up in Blue]

No- maybe you've not paid your bills?

Think I'm up to date thanks.

 

[Shrimper]

Someone said this before but I'm assuming the Seaway site is a no go for a Stadium?

Still think Queensway would be best

 

[Paulie Walnuts]

Whilst I too have no idea if protests of the nature we have witnessed have had any effect on RMs decision making I have absolutely no doubt that those that feel so angry so impacted at least feel they are making a difference.

Without knowing the details of the offer made to RM we can to a degree read between the lines (thank God I am not he) but the bottom line is RM is a seasoned property developer and having witnessed how a significant number deal with public attacks, abuse and threats it tends to very much becomes water off a Ducks Back to the vast majority the only KPI they have is measured by way of £s

Thats why I am so concerned not because of any sense of guilt kicking in but because I just can’t see what would motivate RM to in effect give RH away as opposed to a profit either he or his sons will unlock if they keep hold of RH

Agreed the rat has no really feelings for anyone except a pound note which is why many (rightly) have gone down the avenue of making it clear that any future investments that him and his family are involved in will have serious pushback from us fans.

If he believes we are serious (100/% we are) then this will make it think again before any decisions that would destroy our club anymore and that includes administration and death.

We should need SBC and the authorities so let him know the same and he will then be forced to stop ****ing about.

 

[Cricko]

Shrimpers Trust​

etnSpdsoro92i77gah120g4tiil7l91cchgf6h1145gfm4t67a9ht9670lm6 ·

https://www.facebook.com/?ref=logo#
Ron Martin has now added The Times to the people he is lying to
https://t.co/HsVuAqkHtD

 

[rshepp]

Whilst I too have no idea if protests of the nature we have witnessed have had any effect on RMs decision making I have absolutely no doubt that those that feel so angry so impacted at least feel they are making a difference.

Without knowing the details of the offer made to RM we can to a degree read between the lines (thank God I am not he) but the bottom line is RM is a seasoned property developer and having witnessed how a significant number deal with public attacks, abuse and threats it tends to very much becomes water off a Ducks Back to the vast majority the only KPI they have is measured by way of £s

Thats why I am so concerned not because of any sense of guilt kicking in but because I just can’t see what would motivate RM to in effect give RH away as opposed to a profit either he or his sons will unlock if they keep hold of RH

Relatively cheap to start at practice ground.
Although in Rochford.
As a community project it could bring in revenue almost all year.
We must bear in mind that RM is probably hardening his stance due to the protests. They will do nothing to bring him on side.
I do not wish to lose my club but he has his finger on the money.
No harm in looking at alternatives.

 

[in the know]

I seem to recall the plans included a 4g training pitch to be added at a later stage which would enable more income to be gained.

 

[rshepp]

I seem to recall the plans included a 4g training pitch to be added at a later stage which would enable more income to be gained.

Absolutely.
Is there a time limit on the use at the moment?

 

[rshepp]

Absolutely.
Is there a time limit on the use at the moment?

If RM gave 1 acres at the bottom of FF. There is the parking sorted.

 

[Supershrimper]

Anyone else getting a 404 error when they try to access the OS? Could be those rumours about our media staff not being paid are true.

I'm getting the same on both bing and chrome. Seems to be an issue with the desktop site as mobile is working fine.

They did introduce a new website last week (Thursday?) so may be slight teething issues from the introduction of that.

 

[Leeboy]

working fine for me on desktop

 

[mark387]

working fine for me on desktop

Same working fine for me