Sale of Southend United to Justin Rees and his consortium

[shrimper61]

Any idea as to what @CRATE was posting about on Twitter last night with Tremaine celebrating something?

I Saw this too last night, Kris Tremaine was celebrating something with his dad, he seem very happy about something, was it anything to do with the club.

Who knows we can but HOPE

 

[Target man]

I Saw this too last night, Kris Tremaine was celebrating something with his dad, he seem very happy about something, was it anything to do with the club.

Who knows we can but HOPE

Tbf, I was that happy when I ordered a Chinese the other night, so don't get too excited.

 

[overseas shrimper]

This is of course the crux of the problem. The income that the club receives from its supporters/loyal fan base/ customers is no where near enough to allow the club to be financially stable and it is reliant on a benefactor to balance the books.

Is football unique where the fans etc whose hobby/ favourite past time, passion is reliant on an outside benefactor to enable the participants to enjoy their hobby?

Since the last watershed in 2010 the club has operated at a loss in each and every year, even after removing the inter company rent and management charges.


2010/11 Loss £1.15m
2011/12 Loss £726k
2012/13 LDV at Wembley Loss 614k
2013/14 Loss £1.267m
2014/15 Promotion Loss £1.812m
2015/16 Loss £707k
2016/17 loss £1.305m
2017/18 Loss £2.339m
2018/19 Loss £1.828m
2019/20 Relegation to L2 Loss £797k
2020/21 Relegation to NL Loss £1.004m


So would 5000 people be willing to put in £200 each extra every year to generate an extra £1m to balance the books - I doubt it.

I don’t buy a season ticket - I live 2 hours away and couldn’t afford the travelling cost to see every game - so the games I don't attend, the club gets nothing from me - apart from maybe a small share of a streaming fee. Guilty as charged.

At the end of July 2017 we owed HMRC £195k probably with no arrears. At the end of July 2021 we owed HMRC 10 times as much £1.95m - and other creditors around £2m.

We have been technically insolvent for years. Whilst SEL has funded in total £15.5 m at the end of 2021 it is £3m + short of the total deficits. This is what RM keeps funding now - the catch ups from prior years as creditors demand their money.

A Ltd Company is a private company and once there is a majority shareholder it’s completely in their hands.

If someone buys SEL/ Ron’s shares the club will be in the same position still reliant on a benefactor. Will supporters pay more for their hobby - I doubt it.

Football finance is a mess, will the Govt actually do anything? - I doubt it - too many vested interests.


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I'm not going to say I think we could have made a profit for the seasons you listed, but I do wonder how much smaller those losses could have been with better recruitment, running of the club and a better mach day experience.

For many of those seasons we sacked managers and signed expensive 'wow' signings that cost a pretty penny and spent more time on the treatment table than the pitch. The food and drink offerings have been awful and sizeable potential income has been lost.

 

[Target man]

I'm not going to say I think we could have made a profit for the seasons you listed, but I do wonder how much smaller those losses could have been with better recruitment, running of the club and a better mach day experience.

For many of those seasons we sacked managers and signed expensive 'wow' signings that cost a pretty penny and spent more time on the treatment table than the pitch. The food and drink offerings have been awful and sizeable potential income has been lost.

A mixture of bad decisions, missed opportunities to explore and increase other income revenues and neglect.

 

[Cricko]

I'm not going to say I think we could have made a profit for the seasons you listed, but I do wonder how much smaller those losses could have been with better recruitment, running of the club and a better mach day experience.

For many of those seasons we sacked managers and signed expensive 'wow' signings that cost a pretty penny and spent more time on the treatment table than the pitch. The food and drink offerings have been awful and sizeable potential income has been lost.

There is noway we should be a loss making club on our crowds.

Maybe if the previous losses did not include planning costs for FF, legal fees, late payment fines,interest charges on loans, paying is wife 60k a year for doing sod all, his admin costs, helicopter flights, personal expenses and credit card payments, etc etc , we would not be in such a state.

I am sure there is more to add to that list.

I have said it before and i still stand by it now..

It is SUFC who have kept RM alive not the other way round.

 

[Somerset Ex-TTB]

There is noway we should be a loss making club on our crowds.

Maybe if the previous losses did not include planning costs for FF, legal fees, late payment fines,interest charges on loans, paying is wife 60k a year for doing sod all, his admin costs, helicopter flights, personal expenses and credit card payments, etc etc , we would not be in such a state.

I am sure there is more to add to that list.
I have said it before and i still stand by it now..

It is SUFC who have kept RM alive not the other way round.

This 100%. Yes there would be losses, but a properly run league 2 club with our crowd levels should not make a loss year after year.

 

[overseas shrimper]

There is noway we should be a loss making club on our crowds.

Maybe if the previous losses did not include planning costs for FF, legal fees, late payment fines,interest charges on loans, paying is wife 60k a year for doing sod all, his admin costs, helicopter flights, personal expenses and credit card payments, etc etc , we would not be in such a state.

I am sure there is more to add to that list.

I have said it before and i still stand by it now..

It is SUFC who have kept RM alive not the other way round.

Yeah, I did think of some of those other things. Maybe we wouldn't be in the black every season, but where we might make a loss, it should be on the marginal side.

 

[Target man]

So asked my cuz in Australia, who is well connected in business and politics, to look into him.

As a former World body building champion, she now runs a succesful business and has a lot of links.

Her response:

Nup. He’s a never heard of businessman - companies aren’t well known either.
Something smells fishy IMO.

 

[danbowen]

So asked my cuz in Australia, who is well connected in business and politics, to look into him.

As a former World body building champion, she now runs a succesful business and has a lot of links.

Her response:

Nup. He’s a never heard of businessman - companies aren’t well known either.
Something smells fishy IMO.

Just a front for kimura?

 

[Southminster Shrimper]

Been away for a while, so remind me who is the reason we are screwed? Is it Crate or Stan's fault?

 

[palexander]

Just a front for kimura?

But why would they need/want one?

 

[Dutch Branch]

So asked my cuz in Australia, who is well connected in business and politics, to look into him.

As a former World body building champion, she now runs a succesful business and has a lot of links.

Her response:

Nup. He’s a never heard of businessman - companies aren’t well known either.
Something smells fishy IMO.

Looks like a smells like a fish so must be a . If this was happening you’d at least expect the potential purchaser or investor to at put out a statement of intent to the clubs fans but NADA

 

[AlfaShrimper]

Any idea as to what @CRATE was posting about on Twitter last night with Tremaine celebrating something?

Probably ****e

 

[Morty01]

I wonder what's happened to a certain twitter wolf recently

 

[TrueBlue]

It’s not jumbo from only fools and horses is he?

 

[geoffmundo]

So asked my cuz in Australia, who is well connected in business and politics, to look into him.

As a former World body building champion, she now runs a succesful business and has a lot of links.

Her response:

Nup. He’s a never heard of businessman - companies aren’t well known either.
Something smells fishy IMO.

More to the point why would someone with no apparent links to the Essex Riviera, or previous Football interests, want to get involved with Southend United..?

 

[AlfaShrimper]

More to the point why would someone with no apparent links to the Essex Riviera, or previous Football interests, want to get involved with Southend United..?

Why would two Hollywood actors want involvement with a Welsh club???

 

[Shrimper]

What happens if we are wound up? -10? Kicked out?

 

[CanveyCastle]

Why would two Hollywood actors want involvement with a Welsh club???

Because they had more sense than deal with an English **** ?

 

[CanveyCastle]

What happens if we are wound up? -10? Kicked out?

Good Night.