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Sale of Southend United to Justin Rees and his consortium

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Cricko said:
Why would anybody just buy the club and take on all the debts and future running costs without buying RH?

They would want their heads testing. Maybe the reason RM cannot include RH is because he has borrowed so heavily against the land.

His latest offer seems to point that way..£1 for the club , have all the debts and rent free at RH for 3 years so he can get his act together.
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Thank you, precisely. That’s the point and is the dilemma @cate speculates not at all unreasonably
 
Hazey said:
Seems very worrying that the apparent front runner is still trying to raise investment.
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Indeed. But the real question and one I asked @CRATE is what is the difference that makes this deal (given your point) more attractive than that of the 7? Is one offering to buy the stadium and the other not? Or is one offering the asking price and the other not? As @CRATE points out it might not be a question of £££ alone driving this?
 
shrimper61 said:
If this is true, then why don't the kimura guys reach out to Justin Rees!! kimura stated yesterday in there press release that they have the funding.

Maybe they could work out a deal for a 50/50 share of the club, that could get this buy out over the line.
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Not only do they have the funding but will work with others in a consortium. So it’s an obvious question. We don’t know they aren’t?

Is JR struggling to find partners or it simply in the process of liquidated assets to come up with his share? No idea. We are told only bits, partial information, and the devil always seems to be in the gaps.

If they are both looking to buy the same thing why on earth wouldn’t they be in contact?
 
I would be interested in a poll to see who truely thinks a sale/investment will happen or do most believe we are completely screwed.
 
Cricko said:
Why would anybody just buy the club and take on all the debts and future running costs without buying RH?

They would want their heads testing. Maybe the reason RM cannot include RH is because he has borrowed so heavily against the land.

His latest offer seems to point that way..£1 for the club , have all the debts and rent free at RH for 3 years so he can get his act together.
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And if he doesn’t get his act together you get the added bonus of a dodgy landlord in 3 years
 
CRATE said:
It has been shared (and again it’s complete speculation, I believe), the reason Ron is looking for a investor / partner in Southend United and not an outright buyer is because he knows it will kill his dreams of the redevelopment of the land at Fossetts Farm at which point not only will he not be able to get to his pot at the end of the rainbow with FF, he will also be liable for all the loans against the land relating to it. Which is absolute millions!

Without the need of a football stadium there, because the new owners would not want one. It would mean Ron can’t facilitate his contract with the City council.

This would mean FF would have to go through completely new planning and Ron is aware the struggles he would have passing anything in Southend with the hatred of him by the football fans.

This is why he needs a partner, not a buyer!
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So is the debt on the land at Fossetts now bigger than his debt? Seems like he’s held on too long and got himself in a horrible hole. He can save the club but maybe ron towers comes down. He’s hanging on for someone to bail him out rather than just the club.

I’m far from an expert here, but maybe joining the company that owns Fossetts back to the club, and put that into administration. There will be value in someone buying from there.
 
The Ozzies haven’t got F-ck all funding in place as now. They can’t be considered a viable option in the time frame we have. So in my eyes they are a non runner.
Ron is in such deep sh-t and we are entangled in it with him. Don’t think we even know a fraction of what’s going on with Ron.
As I see it Kimura are the only ones in place to take us over in this time frame. But for some perverse reason Ron would rather us go to the wall.
As I understand it to go into administration with a WUP order hanging over us may not be straightforward. But there will be more posters ITK on this subject.
To me I see us up the per verbal creek without a canoe let alone having a paddle.
 
meerkat54 said:
The Ozzies haven’t got F-ck all funding in place as now. They can’t be considered a viable option in the time frame we have. So in my eyes they are a non runner.
Ron is in such deep sh-t and we are entangled in it with him. Don’t think we even know a fraction of what’s going on with Ron.
As I see it Kimura are the only ones in place to take us over in this time frame. But for some perverse reason Ron would rather us go to the wall.
As I understand it to go into administration with a WUP order hanging over us may not be straightforward. But there will be more posters ITK on this subject.
To me I see us up the per verbal creek without a canoe let alone having a paddle.
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The action is more likely that a sale at that price, whether that’s a fair price or not, doesn’t save Ron.
 
I am not saying I think Crate is lying, but he has the inside scoop on the last group, now on this one? He has direct quotes from Justin Rees?

There is no way if the deal is this far down the road they would still be looking for funds. It would have been a non starter. I stand to be corrected and am happy to be but it does just seem to be strange
 
BenCowell said:
I am not saying I think Crate is lying, but he has the inside scoop on the last group, now on this one? He has direct quotes from Justin Rees?

There is no way if the deal is this far down the road they would still be looking for funds. It would have been a non starter. I stand to be corrected and am happy to be but it does just seem to be strange
Click to expand...

I'm sure it's all in the documentary.
 
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