Sale of Southend United to Justin Rees and his consortium

[JAL]

Most buisness deals keep quiet. Untill, it's done n dusted.

No news is good news

Ill refer you to the past 6 months.

 

[Strykr]

Ill refer you to the past 6 months.

i dunno, theres been a gazillion posts of info in the past 6 months and none if it has panned out.

 

[danbowen]

For anyone that was going to watch our plight being discussed at the council meeting tonight, we are at number 17 on the agenda. This means that if the earlier points overrun it might not get heard this week, so don't get your hopes up too much, but there is still a good chance the motion will be discussed.

wonder if that councillor will still have his christmas tree up for his cat to climb.

 

[Dave T]

Some weeks (maybe months) ago I think it was CRATE who mentioned a Trojan horse bidder, It was too cryptic to solve at the time but I believe now that he was referring to Kimura. It seems to me that RM despite giving them sufficient encouragement to spend several hundred thousand pounds on due dillingence moved the goalposts or upped the asking price and since then appears not to want to do business with them. Hence Kimura resorted to the Trojan horse tactic where unknown to RM they are part of the ‘Australian chap’s’ bid.

And now another Australian? bidder is rumoured … has RM gone cold on Justin Rees because he now knows that it includes Kimura ?

 

[dusterman]

This will have zero impact re the WUP. Imagine- we are winding you up-- no you can't because we got our points back. No. It's completely irrelevant to the court. Completely. Getting the points back may make us more attractive to a buyer. But to the court it simply makes zero difference.

The only reason another adjournment will happen IMHO is if a deal has been done and there is sufficient evidence that it gives the court it will complete in short order (and the adjournment would be similarly short).

Re paying it if its because a sale has happened great.

If its him trying to pay it off then HMRC re this WUP is what, £190k now? Can he come up with some sort of agreement with the other creditors? part payment for now? My big worry is a supplier like Emersons can simply join the petition on the day.....and he is not in a position to magic up cash to settle unexpected claims on the day... There again he's found bigger sums before...

The whole thing is a nightmare...

It is a nightmare.

Re the appeal, my concern would be that winning that would give him a confidence boost. He is not afraid of the court, we’ve seen that. They don’t want to wind us up as they won’t get their money. If he again proves or provides minimal details that things will get paid he could get another adjournment. I don’t think, as we found out before, final actually means final. I get Prentis threatened it but it’s just not how it works. If he proves money is coming l, and we know how flimsy that was with Kimura deal, then it’ll be postponed.

It’s whether RM is frightened not us and I don’t believe he is.

 

[dusterman]

Some weeks (maybe months) ago I think it was CRATE who mentioned a Trojan horse bidder, It was too cryptic to solve at the time but I believe now that he was referring to Kimura. It seems to me that RM despite giving them sufficient encouragement to spend several hundred thousand pounds on due dillingence moved the goalposts or upped the asking price and since then appears not to want to do business with them. Hence Kimura resorted to the Trojan horse tactic where unknown to RM they are part of the ‘Australian chap’s’ bid.

And now another Australian? bidder is rumoured … has RM gone cold on Justin Rees because he now knows that it includes Kimura ?

The Kimura link did concern me as the rat clearly wants them to be no part of it. Guess we just won’t know. But I think it’s this secret bid/investor or bust. At every court case RM has proffered titbits that has turned out to be lies with the same and certain SZ users have hinted there’s someone else Martin is in bed with rather than JR.

 

[Linda Loan Shark]

So we now hope on this new bidder some ppl have mentioned that Ron prefers

I reckon Ron makes up these rival bidders so he makes more money then starts ignoring the original bidder. He starts to believe his own lies

 

[defender05]

Often the information will be covered by NDA, a the party leaking are doing so precisely because they can't get the information out directly, but want it out there to advantage their position. In which case the ITK is a post box and we are only hearing what the original source wants us to hear. It's partial.

Of course, as JR shows, its perfectly possible to be named as a potential buyer and so those that want to be hidden in the background are there by choice.

I get that, Kimura used Crate to make sure nothing bad came back on themselves, what I meant was why have a whatsapp group of ITK and then not tell anyone anything? It's like the supports group not saying anything to there members about the online meetings all over again.

 

[jackj13]

So we’re down to 3 options really:

1) He can and will pay it
2) He won’t pay it and will go for another adjournment, a guarantee of this happening is if he did get the ten points back on appeal
3) Doesn’t pay and we’re wound up, this would make his development sketchy and cause many issues for him (let alone angry fans)

Not great is it?

Or options 4 & 5. A deal is agreed in writing but no completed and JR clears the debt. Or a deal is completed and JR clears the debt. In regards to the former. HMRC and the courts don't give a monkeys who owns the club. They just want the debts cleared.

 

[BoyWonder2]

I get that, Kimura used Crate to make sure nothing bad came back on themselves, what I meant was why have a whatsapp group of ITK and then not tell anyone anything? It's like the supports group not saying anything to there members about the online meetings all over again.

I’ve no idea if there is an ITK WhatsApp group, if so, I’m certainly not on it. I don’t actually know anyone on here personally.

Too many times people post information about things be it wages, takeover, transfer talk whatever to just be shouted down. @henry18 posted about a member of staff not being paid and was shouted down for example.

Sometimes it isn’t worth the hassle. Especially at the moment when everything changes by the hour, and so many people are desperate for positive news.

Personally, and not from any official sources, but I think we’ll be fine. Everything I speak to seems to think that way. In fact, I’m running a half marathon around the perimeter of the Roots Hall pitch the morning of the Solihull Moors game as a fundraising effort as part of their Match for Mind. That’s the 21st October, and the people I’ve organised that with aren’t letting on that we could be going under…

 

[Lester Bangs]

Most buisness deals keep quiet. Untill, it's done n dusted.

No news is good news

Most business deals don’t have this level of public interest.

 

[londonblue]

Often the information will be covered by NDA, a the party leaking are doing so precisely because they can't get the information out directly, but want it out there to advantage their position. In which case the ITK is a post box and we are only hearing what the original source wants us to hear. It's partial.

Of course, as JR shows, its perfectly possible to be named as a potential buyer and so those that want to be hidden in the background are there by choice.

Or because they don't exist.

 

[londonblue]

I’ve no idea if there is an ITK WhatsApp group, if so, I’m certainly not on it. I don’t actually know anyone on here personally.

Too many times people post information about things be it wages, takeover, transfer talk whatever to just be shouted down. @henry18 posted about a member of staff not being paid and was shouted down for example.

Sometimes it isn’t worth the hassle. Especially at the moment when everything changes by the hour, and so many people are desperate for positive news.

Personally, and not from any official sources, but I think we’ll be fine. Everything I speak to seems to think that way. In fact, I’m running a half marathon around the perimeter of the Roots Hall pitch the morning of the Solihull Moors game as a fundraising effort as part of their Match for Mind. That’s the 21st October, and the people I’ve organised that with aren’t letting on that we could be going under…

But if the club goes under does it mean you'll have to tunnel your way round?

 

[Southminster Shrimper]

Can we not replace a manager of Man City or something then spend £200 mil on one of our youth players then retire and carry on as Southend with all that money? Or is that only on Football Manager?

 

[Barling Magna]

Well, here's an interesting comparison. In 2008 Bournemouth were in League 2 with a 17 point deduction following falling into administration and throughout their history had been a team fairly comparable to us (although we were in League One at that time).

Figures released today show that Bournemouth spent £295 million nett between 2014 and 2023.

As I read that last sentence again I find it difficult to comprehend. Bournemouth. Bournemouth? How on Earth have our paths diverged so completely over 15 years....?

Appointing Eddie Howe as a manager helped, of course, and he led them up the divisions during his two periods with the club. But the most important factor was the succession of new owners who had money, vision and competence in financial management. Now they even have their own Hollywood connection with Michael B Jordan leading the minority ownership group.

So...... can you turn us into the new Bournemouth please Mr Rees? I'll be happy for us to become an established mid Championship team, so I'm not asking a lot.

Thank you, cobber.

 

[pottster]

Well, here's an interesting comparison. In 2008 Bournemouth were in League 2 with a 17 point deduction following falling into administration and throughout their history had been a team fairly comparable to us (although we were in League One at that time).

Figures released today show that Bournemouth spent £295 million nett between 2014 and 2023.

As I read that last sentence again I find it difficult to comprehend. Bournemouth. Bournemouth? How on Earth have our paths diverged so completely over 15 years....?

Appointing Eddie Howe as a manager helped, of course, and he led them up the divisions during his two periods with the club. But the most important factor was the succession of new owners who had money, vision and competence in financial management. Now they even have their own Hollywood connection with Michael B Jordan leading the minority ownership group.

So...... can you turn us into the new Bournemouth please Mr Rees? I'll be happy for us to become an established mid Championship team, so I'm not asking a lot.

Thank you, cobber.

Didn't they get a Russian billionaire to invest? That sort of thing normally helps.

 

[alansufc23]

Some weeks (maybe months) ago I think it was CRATE who mentioned a Trojan horse bidder, It was too cryptic to solve at the time but I believe now that he was referring to Kimura. It seems to me that RM despite giving them sufficient encouragement to spend several hundred thousand pounds on due dillingence moved the goalposts or upped the asking price and since then appears not to want to do business with them. Hence Kimura resorted to the Trojan horse tactic where unknown to RM they are part of the ‘Australian chap’s’ bid.

And now another Australian? bidder is rumoured … has RM gone cold on Justin Rees because he now knows that it includes Kimura ?

The man's a ****ing snake

I really really HATE RON MARTIN

 

[Barling Magna]

Didn't they get a Russian billionaire to invest? That sort of thing normally helps.

Yes, but he only took over the club in January this year.

 

[Blues4LifeDan]

Yes, but he only took over the club in January this year.

No that was the American investors, of which Michael B Jordan is one I believe.

The russian investment happend 10 years ago. Which is why they bought the likes of Wilson for £3m at the time.

 

[tommy tucker]

Yes, but he only took over the club in January There is 0 chance of any russian taking over any club .Can you see any leauge agreeing to a russian take ove .I guess the invation of another country would put paid to that idear .