Sale of Southend United to Justin Rees and his consortium

[Holy Joe]

.

Anyway, what do we know now?

We know 2 sources have come forward as interested parties since March.

1. KIMURA
2. SOME AUSTRALIAN CHAP

Also have the Tara Brady bid

 

[BoyWonder2]

Any hint of positivity for us squire? Could do with even a smattering of not so bad news when the Shrimpers are involved

To be honest, I’m staying out of it.

Surely we have to be sold, the alternative doesn’t bear thinking about.

I’ve heard pretty much every eventuality of this. Some confirming what’s been said, some denying what’s been said. Ranging from we are doomed, to it will be fine. I’m taking everything with a pinch of salt. All I do know is IF a deal happens, it won’t be till the 11th hour, it’s the RM way.

All I know is, I’m going to be spending all week trying to convince my three and a half year old to come to his first ever Southend United match. As it stands, there aren’t many more chances I’ll get to do that, and I won’t be able to with my youngest.

 

[Hampshire Shrimp]

I`m not sure that Ron really wants to sell, only he knows that, but I am certain that he will not want the club to be liquidated and here`s why;

If a football club is liquidated, it means that the club is unable to pay its debts and has to sell off its assets to pay off the creditors. The proceeds from the sale are then distributed among the creditors according to their priority. If there is any money left after paying off all the creditors, it goes to the shareholders of the club 1.

In case of liquidation, the owner of the club is not necessarily investigated. However, if there are any allegations of wrongdoing or misconduct on the part of the owner, they may be investigated by the authorities.

For example, if there are allegations of fraud or mismanagement, the owner may be investigated by the police or other regulatory bodies 2.

It’s worth noting that football clubs are subject to various regulations and rules that govern their operations. These rules are designed to ensure that clubs operate in a fair and transparent manner and that they are financially stable. If a club fails to comply with these rules, it may face sanctions or penalties from the relevant authorities .

I would be amazed if he was investigated that they didn`t find anything untoward?

So being investigated by the POLICE or Regulatory bodies will scare the sh*t out of him!!?

 

[dusterman]

To be honest, I’m staying out of it.

Surely we have to be sold, the alternative doesn’t bear thinking about.

I’ve heard pretty much every eventuality of this. Some confirming what’s been said, some denying what’s been said. Ranging from we are doomed, to it will be fine. I’m taking everything with a pinch of salt. All I do know is IF a deal happens, it won’t be till the 11th hour, it’s the RM way.

All I know is, I’m going to be spending all week trying to convince my three and a half year old to come to his first ever Southend United match. As it stands, there aren’t many more chances I’ll get to do that, and I won’t be able to with my youngest.

Will do so with my 5-year-old. Wanted to wait until 7-8 ideally but someone has put pay to that. Second may not even know SUFC as he’s not arriving until November.

 

[SUFC2008]

How much is our debt OVERALL?

 

[overseas shrimper]

How much is our debt OVERALL?

Why? Are you paying?

 

[NZamba Legend]

How much is our debt OVERALL?

We have a Klarna pay in three on a Jeckyll Stone Island hoodie

 

[SUFC2008]

Why? Are you paying?

been saving for ages

 

[kentblues]

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.

He co funded a software company that grew to 170 staff and then was sold to a major player? All you need is Google. By the way the company he founded was, when it was sold, as far as I can see bigger than Kimura (notwithstanding access to finance for a sporting purchase is a different consideration)

 

[Target man]

He co funded a software company that grew to 170 staff and then was sold to a major player? All you need is Google. By the way the company he founded was, when it was sold, as far as I can see bigger than Kimura (notwithstanding access to finance for a sporting purchase is a different consideration)

Good work. Couldn't find much on Google but you've done my work for me!

No excuses then, both have funds to purchase the club so it's clearly Ron holding out .....

 

[Ron Manager]

He co funded a software company that grew to 170 staff and then was sold to a major player? All you need is Google. By the way the company he founded was, when it was sold, as far as I can see bigger than Kimura (notwithstanding access to finance for a sporting purchase is a different consideration)

Yep. It’s not a company that would be well known to the average man or woman in the street here in Oz but a quick 5 minute search told me everything I needed to know that he’s a serious person with a track record of success.

Whether or not he genuinely is interested in saving our club none of us know of course.

 

[L0311 Liberty 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.

Cricko is this right? Is his wife on the SUFC payroll?
If this is correct why have I only just heard this after all these years? Why has this not been questioned relentlessly in meetings and by the media? Like most I think I'm struggling to grasp the complexities of the web of finances (or lack thereof )surrounding the club, so when I hear something like this I'm going to bite down hard on it. What is her role?

 

[Booma]

To be honest, I’m staying out of it.

Surely we have to be sold, the alternative doesn’t bear thinking about.

I’ve heard pretty much every eventuality of this. Some confirming what’s been said, some denying what’s been said. Ranging from we are doomed, to it will be fine. I’m taking everything with a pinch of salt. All I do know is IF a deal happens, it won’t be till the 11th hour, it’s the RM way.

All I know is, I’m going to be spending all week trying to convince my three and a half year old to come to his first ever Southend United match. As it stands, there aren’t many more chances I’ll get to do that, and I won’t be able to with my youngest.

I’m with you on this one, I wanted to wait a couple of years, but the last game we’ll be able to go to is Rochdale (local to me) away, so even if he doesn’t last the whole 90 minutes. At least I can say we’ve been….

 

[Booma]

Cricko is this right? Is his wife on the SUFC payroll?
If this is correct why have I only just heard this after all these years? Why has this not been questioned relentlessly in meetings and by the media? Like most I think I'm struggling to grasp the complexities of the web of finances (or lack thereof )surrounding the club, so when I hear something like this I'm going to bite down hard on it. What is her role?

It’ll be for tax/taking money out the club. My partner was on the payroll of my company. Dividends, and a monthly salary helped with the amount of tax we paid as a household

 

[WestyReturns]

It’ll be for tax/taking money out the club. My partner was on the payroll of my company. Dividends, and a monthly salary helped with the amount of tax we paid as a household

Same here although she does do some admin ....however Mrs Martin shouldn't be getting dividends as they're ment to be profit share payments.

 

[Booma]

Same here although she does do some admin ....however Mrs Martin shouldn't be getting dividends as they're ment to be profit share payments.

Exactly, not sure the club has turned a profit? Some of the other entities may have done?

 

[L0311 Liberty Shrimper]

It’ll be for tax/taking money out the club. My partner was on the payroll of my company. Dividends, and a monthly salary helped with the amount of tax we paid as a household

So in the Martins case they will be benefitting personally from a tax point of view, at the expense of monies coming into the football club via ticket sales and merchandise? Or am I oversimplifying it?

 

[Booma]

So in the Martins case they will be benefitting personally from a tax point of view, at the expense of monies coming into the football club via ticket sales and merchandise? Or am I oversimplifying it?

Potentially, if they are both on the payroll then they both may have a salary and are able to expense to the company (SUFC Ltd). I’m not in the know, just an opinion.

Merchandise is another matter, I have a friend who worked for a premiership rugby club, the kit manufacturer got all the money from the kit sales. there were bonuses for the club for selling x number of shirts. The club shop was owned and funded by the kit manufacturer so separate from the club.

 

[Target man]

Yep. It’s not a company that would be well known to the average man or woman in the street here in Oz but a quick 5 minute search told me everything I needed to know that he’s a serious person with a track record of success.

Whether or not he genuinely is interested in saving our club none of us know of course.

Sadly, the only thing left is hope.

 

[Jassyfa2]

Has Justin actually come forward and said he is interested in buying the club? Or could this be an excuse by Ron if the club goes out of business?