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Sale of Southend United to Justin Rees and his consortium

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BEERMONSTER said:
Most likely due to RM being so up his own waste shute he wouldn't deal with certain individuals on personality basis, nothing to do with business issues. Maybe in RM delude world he considered this guy as acceptable to deal with.
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Not really what I was meaning.

More how does an Aussie, based in Australia get involved with local Essex based business people to buy an Essex based football club. And why.
 
Awooga said:
He’s a decent guy. Give him as much support as you can.
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I wonder if this Australian guy Justin Rees is part of a collaboration with the Kimura group?
Maybe he has been able to seal a deal and has kept them in the loop to be part of it?

I just hope they pull it off. The rat is cornered, pressure is on now, he needs them now.

If it comes off we need to give them our full support and be patient with the re-build.
 
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So Eighty 20 got bought up by NCS an IT Company in 2021, They took a majority stake. Apparently this left Josh Rees and John Kelly retaining a significant stake, but presumably with Josh Rees leaving
Either way I assume Josh Rees would still retain that stake, A majority stake is often around 80% but could be less. The option for Rees to sell down further his so called significant stake remains open. Getting the funds freed up for him personally would be an issue as it would be for any of us.

Eighty 20 is a small Company with the last reported revenue I saw at $18.4m That's revenue NOT profit. However they have a good reputation and Link with Microsoft in relation to Cloud Computing hence NCS snapping them up

The majority stake purchase by NCS was undisclosed so hard to guess the price paid to Kelly and Rees and potentially other stakeholders, Revenue, Turnover, Debts, assets, net profit, depreciations, Non returning expenditure, future forecasts for profits etc would all have been part of NCS VALUATION

So no doubt Josh Rees is a talented business man and IT expert, perhaps he could at least get the ticketing sorted. !! However not in the Mega rich class, but done very well for himself and hopefully amongst other players in the Consortium invited to join the Wonders of SUFC !!
 
Hampshire Shrimp said:
I wonder if this Australian guy Justin Rees is part of a collaboration with the Kumara group?
Maybe he has been able to seal a deal and has kept them in the loop to be part of it?

I just hope they pull it off. The rat is cornered, pressure is on now, he needs them now.

If it comes off we need to give them our full support and be patient with the re-build.
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Not in the know but I know this. Ron will now consult his inner circle (4 mirrors NSEW) and consider at what offer price does he become better off selling than letting the club fold. I suspect he will sell, bank the cash and as Landlord of RH hopefully see the value rise, but it’s not a given.
 
Barry.C said:
So Eighty 20 got bought up by NCS an IT Company in 2021, They took a majority stake. Apparently this left Josh Rees and John Kelly retaining a significant stake, but presumably with Josh Rees leaving
Either way I assume Josh Rees would still retain that stake, A majority stake is often around 80% but could be less. The option for Rees to sell down further his so called significant stake remains open. Getting the funds freed up for him personally would be an issue as it would be for any of us.

Eighty 20 is a small Company with the last reported revenue I saw at $18.4m That's revenue NOT profit. However they have a good reputation and Link with Microsoft in relation to Cloud Computing hence NCS snapping them up

The majority stake purchase by NCS was undisclosed so hard to guess the price paid to Kelly and Rees and potentially other stakeholders, Revenue, Turnover, Debts, assets, net profit, depreciations, Non returning expenditure, future forecasts for profits etc would all have been part of NCS VALUATION

So no doubt Josh Rees is a talented business man and IT expert, perhaps he could at least get the ticketing sorted. !! However not in the Mega rich class, but done very well for himself and hopefully amongst other players in the Consortium invited to join the Wonders of SUFC !!
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Who the hell is Josh
 
NCS are not shy about spending big to get what they want. I believe they purchased 4 companies including Eight20. One was purchased for $325m and another for $290m. Even an acquisition of half of those 2 figures split between the 2 founders would result in a significant chunk of cheese in their pocket.

One slight thing is NCS was a majority investment into Eight20 rather than an acquisition, but the founders will still have have had to sell shares to make them minority investors.
 
Josh Rees is a local lad we should have signed every season for the last 6 years. Justin Rees is an Australian chap I am led to believe.
 
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