Sale of Southend United to Justin Rees and his consortium

[palexander]

thats fine ..... you probably feel uncomfortable facing the facts...

Are they "facts"? Where did you get the figures?

 

[tommy tucker]

IMO, council & Firth & Dudridge all write letters to say, 'We think sale is happening, but if not the council can back the club financially'. It doesn't mean the council will actually pay anything, but it gives 'confidence'.

Ron gets adjournment because HMRC see a path to getting paid.

What part of no more Adornments do you understand Pay up by the 4th or no more club Surly even Roland rat understand that Or is he really that thick that he didn't understand what the judge told him

 

[Supershrimper]

What part of no more Adornments do you understand Pay up by the 4th or no more club Surly even Roland rat understand that Or is he really that thick that he didn't understand what the judge told him

Just the bit highlighted in bold

 

[bazzashrimper]

The alternative though is that if the club is wound up its likely the supporting creditors will see nothing.

They can't enter into any agreement at the moment but they can say that IF the petition is dismissed then we will accept £x a month for a period of time..

Yup. Exactly. Being wound up loses them the money. HMRC do it to set a precedence to everyone. Can’t imagine that Emerson’s would want that…

 

[Hadleigh Blue]

Yep, agree entirely. The 2 mil for debts or 4.5 for RH is a drop in the ocean, especially if a loan.

Southend council faces its biggest financial challenge in history https://www.bbc.co.uk/news/uk-england-essex-66783944

Really not too sure we should be considering council assistance at this time

 

[Jai]

Southend council faces its biggest financial challenge in history https://www.bbc.co.uk/news/uk-england-essex-66783944

Really not too sure we should be considering council assistance at this time

This doesn't look great, but are we talking about different pots here? Capital spending and services?

 

[bazzashrimper]

It’s also not as simple as rescuing a football club. It’s saving 100 jobs of people in the area who work for the club, supporting pubs and food around the ground (possibly more jobs, rent which can no longer be paid to the council etc).

Any support needs to lead to sustainability - but it may cost more to do nothing

 

[Hadleigh Blue]

This doesn't look great, but are we talking about different pots here? Capital spending and services?

I agree in part, but of course the voting public (and especially those who don’t follow footy) do not always get down to the detail and would simply see that their roads are full of pot holes, the bins are not collected as often, and local services are ever more stretch, yet the council have money to prop up a mess created by a wealthy property developer, I can’t see that getting voted through.

 

[Paulie Walnuts]

Southend council faces its biggest financial challenge in history https://www.bbc.co.uk/news/uk-england-essex-66783944

Really not too sure we should be considering council assistance at this time

The timing of this story is a bit strange isn't it?.

 

[Colchester and proud!]

Southend council faces its biggest financial challenge in history https://www.bbc.co.uk/news/uk-england-essex-66783944

Really not too sure we should be considering council assistance at this time

Yes this is the sort of situation our daughter was talking about, she says balancing the books at Sutton council is impossible they are constantly robbing Peter to pay Paul, that sounds familiar…….

 

[Rayleigh boy]

Are they "facts"? Where did you get the figures?

very rough and ready approximations

season tickets average GBP 250 x 3000 = 750k

the sponsorship/ad figure (which surprised me - but is in line with previous figures from published accounts) ) was given me by a contact at 700k

We know the club has robust revenue - it is in the published accounts on companies house.

1.4 million pounds coming into the club so far in 2023 ..

I have heard running costs estimated at GBP 125k per month - this sounds very light to me but I have no insight to offer ..

Ron Martin has done a great job in mugging the fans .....

 

[edwardss2]

Southend council faces its biggest financial challenge in history https://www.bbc.co.uk/news/uk-england-essex-66783944

From the long-term budget document which is signed off by the Chief Financial Officer: "There are also serious exceptional risks which, if they crystallise, could significantly impact the Council’s reserves, and leave its financial standing seriously in question."

It is worth noting that a lot of the capital reserves are hypothecated as well. It is not just a pot of cash you can 'dip' in to.

 

[tommy tucker]

Yes this is the sort of situation our daughter was talking about, she says balancing the books at Sutton council is impossible they are constantly robbing Peter to pay Paul, that sounds familiar…….

So its ok for your council to help help you build your stadium But its not ok for our council to try and help save our club Pots and kettles i say to you

 

[tommy tucker]

Are colchester not paying rent to there council then .When i worked in colchester council offices I beleve i was told you dont own you stadium .But you do pay rent for it .And your council is also strapped for cash .

 

[Hadleigh Blue]

So its ok for your council to help help you build your stadium But its not ok for our council to try and help save our club Pots and kettles i say to you

I think it is very different for a council to invest in new build ventures that have a budgeted return through multi-use etc - such as the community stadium, to applying a very expensive sticking plaster over a deep financial wound created by someone who happens to also be relying on the councils assistance with planning elsewhere. All seems very murky!!

 

[tommy tucker]

I think it is very different for a council to invest in new build ventures that have a budgeted return through multi-use etc - such as the community stadium, to applying a very expensive sticking plaster over a deep financial wound created by someone who happens to also be relying on the councils assistance with planning elsewhere. All seems very murky!!

Hardly murky the only thing that is murky is our chairman Or should i say what a chairman .If the council wants to help save the club so be it .Dont knock it .

 

[Supa Shrimpa]

very rough and ready approximations

season tickets average GBP 250 x 3000 = 750k

the sponsorship/ad figure (which surprised me - but is in line with previous figures from published accounts) ) was given me by a contact at 700k

We know the club has robust revenue - it is in the published accounts on companies house.

1.4 million pounds coming into the club so far in 2023 ..

I have heard running costs estimated at GBP 125k per month - this sounds very light to me but I have no insight to offer ..

Ron Martin has done a great job in mugging the fans .....

You can't quote "in the published accounts" when the last ones submitted were for period ending Jul 21. Over two years old !

You keep quoting these high revenue figures, but there's more to accounting than just sales. Even if the running costs are £125k per month (which I doubt), Roots Hall is on it's knees and needs fortunes pumping into it.

 

[Colchester and proud!]

So its ok for your council to help help you build your stadium But its not ok for our council to try and help save our club Pots and kettles i say to you

That was years ago, the council were in a different position then and yes we pay rent for that stadium although Robbie Cowling has offered to purchase it off them many times. I hope the council do help your club but things are very different now, councils are under pressure to provide many things from their ratepayers.

 

[tommy tucker]

The council would have to put shows on in there stadium Because if they relyed on the fan base they would go bust Unlike our 5500 at our home games and a good away following A leauge two club cant get many more than 3500 or maybe 4000 is **** poor

 

[Colchester and proud!]

Are colchester not paying rent to there council then .When i worked in colchester council offices I beleve i was told you dont own you stadium .But you do pay rent for it .And your council is also strapped for cash .

Yes that is correct, we do pay rent for it and the council are strapped for cash but not interested in selling it to the club.