Sale of Southend United to Justin Rees and his consortium

[BEERMONSTER]

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 ?

A few suppositions to ponder.
If the use of Trojan was representative of the term Trojan Horse it could indicate a bidder/bidders already inside the club. Now what if it was a very interested TL himself.
Now accepting TL unlikely to have the individual financial capabilities he would obviously need financial partners and time to find them.
Now remember the Rats press conference he referred to TL as someone who deserves reward.
Remember the Rat in reference to the Australian chap said 'We' like him and he is known to TL. We all know JR was with TL at Bromley.
Would a scenario of a consortium, of which TL is the conduit, be of interest to the Rat?
Why not, it's deal which potential benefits him as TL will be focused on saving the Club and will have realistic expectations as to future sustainability and how to move forward with the right people involved with the Club, they wouldn't want as big piece of the Rats pie as others might!
Has the Rat been stringing the sale process out because the preferred bidder has been there all the time?
As I say just some supposition, nothing more or nothing less.

 

[kentblues]

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.

You are correct. But getting the points back will make zero difference to any of this, really it wont. Zero. Truly. And I can happily suffer the valueless stroke it might give to Ron's ego, for the huge boost it will give to the management team and players- who frankly I care about far, far more... As I said it might also make us more attractive to be buyer for obvious reasons and help get a deal done.

 

[Barling Magna]

You're right. In 2011 actually, although he sold part of it in 2015.

 

[Barling Magna]

Yes, you're correct. January 2023 was when the Russian actually sold the club to US investors.

 

[rigsby]

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.

It would give any new owner a bigger confidence boost. They would come in knowing we have chance of promotion this season.

 

[discord]

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

Just what Bury's owner did in a roundabout way and we all know what happened there :(

 

[rigsby]

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.

The Russians drew upon a shortlist of about 20 clubs they felt worth targeting. No big boys, smaller clubs with potential. SUFC were on that list but crossed off due to our catchment area having to many fans of London teams.

Bournemouth was far enough away from the Smoke but with a surounding area of 400,000+

Yes success for them, if you want PL football and all its associated utter nonsense. However not my idea of how and why club should be bought in the first place.

 

[united we stand]

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.

Can you define financial competence?
In 2020 they lost over £50 million trying to get back into the prem.
2022 accounts show debt at over £180 million

Maybe the above is classified as ‘good’ for a championship/premiership club, I honestly don’t know

 

[Somerset Ex-TTB]

The longer and longer that Ratboy has been doing nothing to our club it has been stagnating and the gap between the top and bottom of the football pyramid has got bigger and bigger and bigger.

It’s going to take an enormous investment and about a decade to get back to anywhere near where we were when he took over. Even then we will be 100 times further away from competing in the Championship or top of league one than 25 years ago as the wealth gap has grown that much.

25 years ago going from league 2 to Championship was feasible in a few seasons and then staying there. Now it is virtually impossible.

 

[annie1954]

Regarding individuals saying they think we will be fine. That’s the exact reason we’re in this position. Sleepwalking into oblivion.

Several people said to me on Saturday there’s nothing to worry about Ron always leaves things to the last minute that’s how he works. wish I had there confidence

 

[Alexshrimper]

Seems to be some acceptance that we are done

If

Several people said to me on Saturday there’s nothing to worry about Ron always leaves things to the last minute that’s how he works. wish I had there confidence

Ron has never landed a -10 before though

He’s got the government crawling all over him like a rash and has just been named the worst run club in England

Ron is playing a blinder at ducking us and the rest of his life up

 

[Snowy]

Several people said to me on Saturday there’s nothing to worry about Ron always leaves things to the last minute that’s how he works. wish I had there confidence

The man's and idiot. This is no way to run a football club. If he thinks he can treat football creditor's this same way he does his other businesses then he is sadly wrong. HMRC will wind us up and the NL will issue more points deductions.

As I have said before if he does not want to lower his ludicrous demands from expectant buyers then its all over.

 

[Chrisb]

He’s got the government crawling all over him like a rash and has just been named the worst run club in England

Ron is playing a blinder at ducking us and the rest of his life up

Quite right too, where has that been named ?

 

[Snowy]

Quite right too, where has that been named ?

I remember seeing in one of the daily news papers, it is fact.

 

[jphfitz]

I think @Alexshrimper is talking about this link where government have names three crisis clubs and listed SUFC at the top.

Clicky

 

[ms brush]

If this proposal around fit and proper tests for owners doesnt have Ron selling up, nothing will!

 

[Elmsleigh shrimper]

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.

I think it's something to do with the contrast in our fortunes over the last 15 years or so but the very mention of Bournemouth, Brighton, Brentford and the Premier League in the same sentence hurts. Ups and downs are part of football but the meteoric rise of these old adversaries compared to our sad predicament seems somehow unfair. Still at least it's not Col U beating Man.city!

 

[Southminster Shrimper]

I wouldn't be surprised if Ron thinks he is doing a great job.

The guy needs serious help. For everything we have been through as a team and what he has done, i don't wish him ill health, but i do wish he would f*ck off.

 

[Sussexshrimper]

Ron Martin the whole family of football supporters can see what a useless moron you are! Your killing this club and still believe you are a astute owner who loves sufc with a passion .please ron just **** off ...I don't endorse this following comment but have no doubt if sufc dies ..watch your back

 

[Shrimperjohn]

Facebook extract from one of my friends below. An interesting development…

Live council session now - interesting development. One councillor has chaired an amendment to the current support motion supply 2million to SUFC as a bridge loan to ensure the sale can happen by Oct 4th. Let's see how it goes.. #sufc #shrimpers