Breaking News When will the takeover go through? Council / Citizen Housing agree new Heads of Terms 26 June

[Jedi Shrimper]

Ultimatum laid down.

Come in Ratty your time is up.

 

[NZamba Legend]

Just reading the council letter again and isn’t the deal not only contingent on BOTH Citizen Housing and the Martins accepting it. What if the Martins agree and Citizen Housing don’t.

Citizen are the Martins aren’t they? But yes, I wouldn’t rule out such a scenario.

 

[Holy Joe]

So what if the Martins let’s the club go bust and gamble on the Government over ruling the council? Could COSU buy the stadium out of administration.

The stadium won't go into administration - it's not owned by the club

 

[Spaceman Spiff]

I think they know that realistically, this development won't happen smoothly if the club dies

The fans will put as many obstacles in the way as we possibly can

Cllr Cowans letter, taken at face value, makes it clear that if COSU walk (either because Ron delays, or because SUFC has died) then the rats can forget Fossetts. It ain’t happening.

 

[Spaceman Spiff]

Citizen are the Martins aren’t they? But yes, I wouldn’t rule out such a scenario.

Citizen Housing is ratty junior’s company I think.

 

[NZamba Legend]

Cllr Cowans letter, taken at face value, makes it clear that if COSU walk (either because Ron delays, or because SUFC has died) then the rats can forget Fossetts. It ain’t happening.

But realistically it will happen, eventually. The council will have government housing targets and Ron owns two bits of land and wants to build houses on them.

 

[kentblues]

Yes, the reference to 2021 is just in terms of residential mix, etc.

They've essentially laid out exactly what their external advice says will get through DD and audit, and stand a good chance of passing planning. Any other offers or proposed changes by the Martins are a waste of time. It's this or nothing.

Yes I think ref to 2021 minus the stadium is a bit misleading- for example I don’t think this means the stadium at FF isn’t replaced by the extra housing. As you say mix and weren’t the financial terms (e.g. lease length) different?

It’s not just the Martins agreeing but the Dellals and CRBE- you would hope everyone is kind of their in principle prior to this letter being sent- as has been suggested..

 

[Tinks]

At last someone has the balls to actually put this rat family in a corner and it is them no longer calling the shots.
This leaves the Rats in a corner where they can no longer manipulate or deceive people as has been there way for many years.

This was Cllr Daniel Cowan reply to someone asking regarding the financial commitment the council were being asked -
“ in personal terms it would be agreeing to a fixed rate mortgage that you can just about pay if nothing goes wrong and hoping that rates change in your favour in future”

Maybe it is not what we all want to hear as this really is becoming D Day now but as I said earlier we are all tired and weary from all of this and it needs putting to bed so we can all finally move on.
FWIW I have no idea how this is all going to pan out

 

[Cricko]

https://twitter.com/x/status/1801896844684890225

View attachment 32274

Cornered the rat at last! Great work by the council.

 

[THE SEVENTIES NORTH BANK]

The good news is that there is a deal that will almost definitely pass through. The 2021 development deal, minus the stadium. Also the financial terms were different. The Martins and Citizen need to focus on that and accept. The current deal is over. It doesn't pass. Yes, they will not get all the apartments built they have put in for, but it's still a massive development, and the time for being too greedy is over. They will still make Millions. It will still get Ron Martin out of the debt hole he has dug, and more importantly, save Southend United. Over to you, Ron, Jack and Citizen.

 

[kentblues]

But realistically it will happen, eventually. The council will have government housing targets and Ron owns two bits of land and wants to build houses on them.

Quite possibly but they would need to find new partners/buyers and the process wouldn’t be accelerated- so probably 2-3 years of delays. And however dressed up SCC are likely from a planning point of view be more disposed towards what is effectively their own planning application

You would think if it flies for the Martins, Dellals and CRBE then a positive outcome is likely. But it’s not just the Martins

 

[kentblues]

Citizens Housing is jointly owned by Jack and the Dellals - together they are the developers

 

[Spaceman Spiff]

Corned the rat at last!

View attachment 32275

Is that like corned beef, but a Baldrick style rat variety?

 

[Jim Levenstein]

Surely that’s a good sign. Ron will have to agree otherwise he is bankrupt

 

[meerkat54]

Quite possibly but they would need to find new partners/buyers and the process wouldn’t be accelerated- so probably 2-3 years of delays. And however dressed up SCC are likely from a planning point of view be more disposed towards what is effectively their own planning application

You would think if it flies for the Martins, Dellals and CRBE then a positive outcome is likely. But it’s not just the Martins

Yes I would think the backers CBRE would surely lean on the Martins. Especially if the owes them circa 45 million.
The council statement is now a game changer for us one way or the other.

 

[SS9_Shrimper]

To add a bit to what Tribal Chief has said; one of my parents is a labour councillor and has pretty much said this morning that Martin has agreed to the most of the councils terms but with one little sticking point to iron out. Not sure how big this is though. Should be workable.

The filth is cornered.

 

[in the know]

Yes I think ref to 2021 minus the stadium is a bit misleading- for example I don’t think this means the stadium at FF isn’t replaced by the extra housing. As you say mix and weren’t the financial terms (e.g. lease length) different?

It’s not just the Martins agreeing but the Dellals and CRBE- you would hope everyone is kind of their in principle prior to this letter being sent- as has been suggested..

Sounds to me that the council can see and are fed up with the Martin's constantly trying to get a bit more out of the originally agreed deal with property types and lease lengths, and have put a stop to it by resetting the rules of engagement formally.
Feels like that side of it is going to be sorted, but there's still the issue of the Martin's providing security to the consortium before more wages or WUPs are paid off.

 

[Smiffy]

A COSU statement backing what SCC have said would be good as well. Plus vociferous fan backing and we have a three pronged attack on the rats.

 

[Hampshire Shrimp]

Finally, which I have been saying for a while, SCC have had enough of the family demands and greed! Had the gonads to tell him what they will accept take it or leave it?

That is the only way to deal with them, so through pure greed they have been scaled back to the original plan.

Well done SCC

 

[overseas shrimper]

I'm quite happy with this update.

Cards are on the table. Take it or leaving. With a nice little warning of no way back if COSU walk.