Sale of Southend United to Justin Rees and his consortium

[Flinty]

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£20m contribution for RH redevelopment….it’s not just a lick of paint planned then !

 

[fredheim_holm]

getting his own son to cough up as well, what a rat he really is

Probably due to Jack having funds onshore that he can easily use, I'd imagine it's just a way to minimise the tax burden and that Jack won't be out of pocket overall.

 

[kentblues]

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For all the absolute pain, if this is how the club in the end changes hands, and Ron's tenure ends, then its a cracking deal for the club going forward providing an excellent platform for the future. Really is. BUT let's see. So much in this process has ended up being not the case, or at least not quite as it seemed.

 

[rararblue]

I, for one, will be wishing Ron, all the best with regards to developing Fossett Farm.
20 million!

 

[kentblues]

I, for one, will be wishing Ron, all the best with regards to developing Fossett Farm.
20 million!

@Sherrif would be best to advise but suggest a lot could be done with that if spent wisely.

 

[Userorange]

Rees and chums don’t appear to be throwing that much cash at this. Administration anyone?

Going into administration doesn’t stop the electricity being cut off either I wouldn’t have thought.

 

[Leeboy]

And new North Bank will be called the ?

The ‘I SAVED THIS CLUB YOU PEASANTS RON MARTIN IS GOD’ Stand

 

[Flinty]

Rees and chums don’t appear to be throwing that much cash at this. Administration anyone?

Going into administration doesn’t stop the electricity being cut off either I wouldn’t have thought.

If they are paying all the debts off I would suggest that’s a fair chunk of cash !

 

[Jack_23]

Rees and chums don’t appear to be throwing that much cash at this. Administration anyone?

Going into administration doesn’t stop the electricity being cut off either I wouldn’t have thought.

Or they just don’t want to pay off someone else’s debts……

 

[Leeboy]

Rees and chums don’t appear to be throwing that much cash at this. Administration anyone?

Going into administration doesn’t stop the electricity being cut off either I wouldn’t have thought.

ummm inheriting debt?

 

[Sparte]

£20m! Wow, I'm amazed they've pulled that off (in principle), guess that shows just how big the windfall will be at FF.

The development will eventually stretch from Waitrose right across to Jones Memorial Ground, it’ll be massive! As will the traffic queues getting in and out of Southend…

 

[Target man]

It's my 50th this Saturday, so an announcement that a deal is completed, club saved and RM is gone, would be a dream gift!!

 

[leeblue]

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These figures make no sense

 

[Userorange]

If they are paying all the debts off I would suggest that’s a fair chunk of cash !

Where does it say they are paying them off. Obviously they will have to service those debts one way or another.

 

[kentblues]

These figures make no sense

They only make sense if FF can goes ahead with no stadium and maybe extra housing. Then it makes lots of sense for both (indeed all) parties- however, I would be pleasantly surprised, to put it very very mildly, if Ron passed on the club on quite such a positive basis. Hence, I, and I am sure most others, will await the actual detail if it actually happens.

 

[Beefy]

For all the absolute pain, if this is how the club in the end changes hands, and Ron's tenure ends, then its a cracking deal for the club going forward providing an excellent platform for the future. Really is. BUT let's see. So much in this process has ended up being not the case, or at least not quite as it seemed.

Obviously contingent on him ever getting FF off the ground though. But also creates a deal where achieving that is in the interests of him, the Football Club and the Council.

 

[Shrimper]

So Ron still needs to agree it? Squeaky bum time

 

[bazzashrimper]

I said £20m the other day. I think at the press conference he said something like he would sell the stadium for £20m but it will cost £40m to build.

Great news if true. The club benefits from its name being used for FF housing

 

[SeldomSeenShrimper]

One big issue with this ...

Rhymes with Con

 

[Holy Joe]

getting his own son to cough up as well, what a rat he really is

It's probably as his son is director or RH and the FF development companies - and he was probably gifted those by Ron anyway!

Additionally I'd imagine the 20m for Rh development is coming from the FF companies not Ron