Sale of Southend United to Justin Rees and his consortium

[Jmayhew32]

I'm sure the money put into escrow by JR can be used by the club (not Ron) to pay any WUP debts.

Surely this is only necessary though if the deal isn't to go through prior to 4 October. Unless JR is saying the deal can't go through until the WUP is cleared?

 

[Holy Joe]

Parents "busy" over xmas lol

Santa emptying his sack

 

[Yorkshire Blue]

sounds like Ron has finally met his match with an honest, KNOWS WHAT HE IS DOING businessman

Did you miss the bit about it being “repayable by RM”?

 

[TrevorFitzpatrickHattrick]

How would this work?

Escrow is putting money into the hands of a third party to hold pending the fulfilment of a condition.

I’m not sure how that applies to this.

If the money is held in escrow it can’t be used to pay off HMRC.

At most it can be used a proof of funds if we’re seeking another extension.

Heard that it would be used as proof of funds to satisfy the courts that:

a) they're available.
b) potentially enable an extension to be granted while the sale of the club/assets completes.

I hasten to add that these are rumours I've heard from a few folk I trust, nothing more. I'm also aware as @kentblues points out that HMRC is merely one slice of the club's debt pie.

 

[in the know]

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!!

I think there's a great chance of that

 

[LeedsSUFC]

should re-name RH to The Kevin Maher / Darren Currie / Mark Bentley Legends Stadium

The Kevin Maher stand

I’ll chime in here, if we’re recognising club legends, Paul Sturrock deserves equal credit.

He single-handedly put together a whole squad from scratch, who were registered the day before the season began. He delayed non-league football by 11 years.

He also led that team to Wembley & missed out on automatic promotion by 1 point.

Legend in my eyes. I hope the new owners can invite him back so we can celebrate him properly.

 

[kentblues]

Heard that it would be used as proof of funds to satisfy the courts that:

a) they're available.
b) potentially enable an extension to be granted while the sale of the club/assets completes.

I hasten to add that these are rumours I've heard from a few folk I trust, nothing more. I'm also aware as @kentblues points out that HMRC is merely one slice of the club's debt pie.

And for the period of any further adjournment Kev and the team remain royally screwed in case all parties have, as is usual, overlooked them...probably they are nearing the end of what realistically they can cope with given the NL's absurd restrictions....and who is going to pay nPower the day before? All out in the wash I guess.

 

[Napster]

Legend in my eyes. I hope the new owners can invite him back so we can celebrate him properly.

I fear he's a bit unwell.

 

[Maldon Shrimper]

All sounds very encouraging but it's not over until the fat lady sings or in our case the Rat signs on the dotted line

 

[in the know]

If you want to pre-order a half decent Aussie beer to drink a toast to our new Aussie owner with should this actually happen then Stone & Wood Pacific Ale is available to order online.


Just not Fosters or XXXX people, have some standards

'The Original' Pacific Ale (24 x 330ml)

A hand-crafted pale ale from Stone and Wood in Byron Bay, Australia, Pacific Ale gets its name from the brewery's home next to the Pacific Ocean. Made with a combination of Australian barley and wheat this is a hazy, bready beer with juicy, fruity notes created by Galaxy hops.

stoneandwood.co.uk

would love to see spitfire sold on draft at the ground. Not only a decent bitter and lager but embodies the players staff and supporters fighting spirit in this hopefully ending soon saga

 

[Lester Bangs]

Really ? So how did we get in this mess in the first place ?

By Ron running the club down so he could cash in on his property development dream.

Some might call it deliberate mismanagement but I couldn’t possibly comment.

 

[hlane17]

I think there's a great chance of that

I really hope the sun finally shines on us. We've put up with years of this dreadful saga.

 

[Blues4LifeDan]

So just for some clarity, is JR proposing to take on (pay) all of the other debts too? We don't just owe HMRC next week, that's only £275k of it. We owe over 1.5m more to creditors too. For the WUP to be withdrawn, we have to pay all debts. So is it 50:50 for all of the debts or only 50:50 for the HMRC debt?

 

[RHB]

I heard the sticking point was the fact that RM wants the new East Stand to be named The Ron Martin stand

Not even in jest eh?

 

[tommy tucker]

It sounds as if mr reed is one swewed cookie .Where as the rat man lead Kamra up the garden path .Some how i donrt think he will get away with it again .Lets hope this deal is finaly going to get done And the club can move forwards .

 

[Yer Blues]

It sounds as if mr reed is one swewed cookie .Where as the rat man lead Kamra up the garden path .Some how i donrt think he will get away with it again .Lets hope this deal is finaly going to get done And the club can move forwards .

Where can one buy a swewed cookie?

Is it sweet or savoury?

 

[danbowen]

It sounds as if mr reed is one swewed cookie .Where as the rat man lead Kamra up the garden path .Some how i donrt think he will get away with it again .Lets hope this deal is finaly going to get done And the club can move forwards .

Someone is already on the Fosters....

 

[DCC]

Has anything been said by the potential new owners about their plans for the football side of things - this being Southend United Football Club after all?

It’d be interesting to hear of their plans for timing to get back up the leagues - we all want to get out of this league as soon as possible and start pitting ourselves against the Harrogates and Salfords of this world don’t we?

 

[dusterman]

Has anything been said by the potential new owners about their plans for the football side of things - this being Southend United Football Club after all?

It’d be interesting to hear of their plans for timing to get back up the leagues - we all want to get out of this league as soon as possible and start pitting ourselves against the Harrogates and Salfords of this world don’t we?

G’day sir. This season mate. Bonza.

 

[ec2shrimper]

I was just about to say that it's my son's birthday tomorrow too!

It’s also my 54th birthday tomorrow ! Hoping for good news on the sale to celebrate