Sale of Southend United to Justin Rees and his consortium

[Shrimperjohn]

Further to my earlier post this is another Facebook update . I am not ITK at all just copying what someone has picked up in listening in to the council debate . It could be different of course..

motion passed! Not 100% sure what it means, but the way I read it, Southend have agreed to supply funds to cover SUFC through the period until a buyer can be found - be it the Australian co-op or otherwise!

 

[Wingnut]

just been confirmed

 

[Holy Joe]

Further to my earlier post this is another Facebook update . I am not ITK at all just copying what someone has picked up in listening in to the council debate . It could be different of course..

motion passed! Not 100% sure what it means, but the way I read it, Southend have agreed to supply funds to cover SUFC through the period until a buyer can be found - be it the Australian co-op or otherwise!

Is it April fools day

 

[dusterman]

Further to my earlier post this is another Facebook update . I am not ITK at all just copying what someone has picked up in listening in to the council debate . It could be different of course..

motion passed! Not 100% sure what it means, but the way I read it, Southend have agreed to supply funds to cover SUFC through the period until a buyer can be found - be it the Australian co-op or otherwise!

Yeah, reading between the lines it seems to be that they are loaning the debt (to the Trust) to get the deal done which is interesting. Seems to be larger mechanics at play to me.

 

[NZamba Legend]

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

Agree. Ron left things to the last minute on 23rd August to the extent that he didn’t pay it at all and we lost 10 points. Sometimes the worst does happen.

 

[Shrimper]

Just need Ron to accept...

 

[Gridelet's contact lens]

Sorry, no, that suggested amendment was withdrawn. What was agreed was an amendment that the Council would reconvene in special Council Meeting should the Council be in a position to step in the close a financial gap to support the Club.

 

[Wingnut]

so its down to the trust then fingers crossed

 

[Mr Browns Ghost]

I am of the opinion that Ron doesn't want to sell completely but to have other investors alongside so he can fullfill his goal at FF.
It seems that Justin cant or wont be the outright investor so in the meantime we are all sweating on the outcome.But I understand Justin has said he won't let the club die.Yet again as supporters we are all left in the dark,just wish someone would say something to reassure the fan base what is happening

You understand he has said he won’t let the club die ??? Go on ? When did he sit you down and say that ?? Ffs

 

[tommy tucker]

We be nice for the city council to loan the shrimpers trust the money al be it a bridging loan .But how does that get rid of Ron unless the HMRC debt is payed off .Then hopefully a buyer will step in febt free .

 

[CornishShrimper]

Use the 2m to buy the club off Ron for a quid, pay off the debt, then sell to Kimura for a quid.

Job done.

 

[leeblue]

We be nice for the city council to loan the shrimpers trust the money al be it a bridging loan .But how does that get rid of Ron unless the HMRC debt is payed off .Then hopefully a buyer will step in febt free .

Let's play imaginary figures, say the aussie needs another million to get the deal over the line and the council pass a motion to lend the trust that million to get the deal over the line then one would presume the deal is done and ratty slag goes away

 

[Chrisb]

The Rat is probably about to put his price up.

 

[Danshrimper]

Use the 2m to buy the club off Ron for a quid, pay off the debt, then sell to Kimura for a quid.

Job done.

No, that wouldn’t be job done. Ron would still own both RH and FF.

 

[Holy Joe]

Use the 2m to buy the club off Ron for a quid, pay off the debt, then sell to Kimura for a quid.

Job done.

How is the £2m loan from the council paid back?

 

[CornishShrimper]

No, that wouldn’t be job done. Ron would still own both RH and FF.

Petition for RH to be an asset of community value? Compulsory purchase order?

 

[CornishShrimper]

How is the £2m loan from the council paid back?

Promise them a slice of the upcoming property development on the Roots Hall land of course!

 

[tommy tucker]

Unlike Rat Ron I'm sure if the council loaned the trust 2 million pounds over a period of years .You can be sure the trust would pay it back But if they loaned it to the rat they would never see it again

 

[tommy tucker]

If the loan is passed to save our club The next move would be to remove Ron .let the creep keep Fossetts As long as he agrees to sell of roots hall

 

[Billy Bests boot laces]

The Rat is probably about to put his price up.

That would really tarnish his relationship ( if any? ) with the Council, who would hopefully make his planning applications difficult?.