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Sale of Southend United to Justin Rees and his consortium

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Jai said:
Clubs are starting to feel the cost of Covid now. It was kicked down the road for a while but it is biting now for many, including us. Most of our debts are historic, dating back to that time.
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Ours goes way back past that, just look at all the 30+ year old signings we made on huge wages, that hurt us a lot.

COVID was a large hit, but there is many many things that were mishandled during the time we had no CEO and Ron was left to run wild.
 
Sensei Phil said:
I've had some interactions with Justin this morning and this is exactly what I have understood. Administration is a possibility but all parties are doing everything to try and avoid this. However, I am extremely positive that this takeover will be concluded. My first impressions of the guy is that he is what I had hoped he would be. Quite straight, honest and engaging, and as a bonus, he has a great sense of humour - then again, he would need that if he's purchasing our club!! Hopefully we'll avoid Administration, nevertheless, feeling positive about our future under his leadership.
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He's going to need all those qualities to agree payment deals with so many creditors ...some known and some maybe still to be discovered. Let us hope a lot of that is already sorted as he's not got much time left at all.
 
JAL said:
Ours goes way back past that, just look at all the 30+ year old signings we made on huge wages, that hurt us a lot.

COVID was a large hit, but there is many many things that were mishandled during the time we had no CEO and Ron was left to run wild.
Click to expand...

Indeed COVID doesn't explain the numerous WUP we had before COVID. COVID hasn't helped but we were rotting long before
 
JAL said:
Ours goes way back past that, just look at all the 30+ year old signings we made on huge wages, that hurt us a lot.

COVID was a large hit, but there is many many things that were mishandled during the time we had no CEO and Ron was left to run wild.
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plus all the hiring and firing of managers who we had to pay off - Powell, Bond, Campbell, Moseley etc. Bet that wasn't cheap
 
Leeboy said:
plus all the hiring and firing of managers who we had to pay off - Powell, Bond, Campbell, Moseley etc. Bet that wasn't cheap
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Exactly, Ron likes to blame COVID, because I mean, why would he ever blame himself even though its his fault?

There's a chance we could've been much better placed throughout and after COVID if someone was controlling the finances that wasn't him. Imagine Tom if he came in a few years earlier.
 
rshepp said:
If you think we are alone.
The owner of Sheffield Wednesday has told the club that he will not put anymore more money in.
He has been given a bit of stick by fans.
Reading feel that they 'should' get paid. Also in trouble with tax overdue.
A National League North owner has withdrawn funding.
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I didn't say we were - but doesn't answer my question - it's no real consolation that other clubs are also in trouble
 
Ron Martin has squeezed the life out of SUFC. We must remember that no business man or consortium buy a football club out of altruism, they all want a return on their investment. Hopefully our next owner; probably/hopefully Justin Rees and his consortium, are competent and don't kill the goose which lays their golden egg.
 
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