SO when will the takeover go through?

[Sussexshrimper]

It would be very like Ron to decide if he doesn't get what he wants then nobody does. Interesting week ahead!

Yes because ronald martin is a narcissist of the highest order ..i have been going since 1977 and at one stage travelling from brighton to watch over a 10 year period. Ronald marrin do the right thing for once dont bury a club that is part of me and many others ....dont you ****in dare

 

[Thundersley Blue]

The most confident I have felt in a long time that the takeover will complete. The Martins simply now have nowhere to go. Either they agree or will never get planning permission to build at Fossetts.

The £20 million, well I am pretty sure The Consortium have a Plan B. Justin said at the Cliffs, if you don't see property built at Fossetts then no money would be forthcoming. COSU and POSU are made up of shrewd business men. They will definitely have a Plan B.

 

[Paulie Walnuts]

Correct, and due to FF being on green belt, the only reason it was getting the go ahead in the first place was due to our stadium.

Ron will own two pieces of land, but he won’t be able to do much with one of them, (aside from sell it).

You would have to be a very brave man to buy that land if the local football club went bust because of the ******* who previously owned it.

They would also be under no illusion the difficulty on getting any decent planning permission to build on because of the many thousands who would oppose so much as a Wendy house being pitched up.

In short, there are plenty more far less complicated land investments to get involved in for this type of property merchant and those two clowns know it.

 

[Wise Head]

Perhaps I’m reading this new deal wrong. The 2021 planning permission involved building the first part of the stadium before any properties at FF could be occupied. This cost equated to around £20 million. I am assuming that as no stadium has to be built then that money can be transferred to the consortium for RH at the same time in the FF build schedule. As long as planning permission is given on the land on which the stadium was due to be built is given in the same timescale as the stadium would have taken to be built then the Martins would be no worse off. They could only have started building at RH once the stadium at FF had been completed.

 

[SUBBlue]

It would be very like Ron to decide if he doesn't get what he wants then nobody does. Interesting week ahead!

You’ve got to hand it to Ratty, he’s a clever one alright.

Manages to get a group of wealthy men to foot the bill for millions of £ whilst running his company for months on end & pay the debts whilst he retains full ownership & doesn’t spend another penny towards it.

I’m sure he’ll have something else up his sleeve.
not convinced this will end well for Southend United.

 

[AndyH]

You’ve got to hand it to Ratty, he’s a clever one alright.

Manages to get a group of wealthy men to foot the bill for millions of £ whilst running his company for months on end & pay the debts whilst he retains full ownership & doesn’t spend another penny towards it.

I’m sure he’ll have something else up his sleeve.
not convinced this will end well for Southend United.

Really don’t think he’s that clever, if he is, it’s bad news.

 

[wiggy]

So is it possible Roland can skip free of this latest decision or is it final?

 

[Uncle_Rons_Teapot]

Final. The be all and end all.

Now or never

 

[Ian Benjamin]

It’s good that Ron accepts that but i think the more significant ones here will be Citizen and CBRE. Are they onside with this?


Yes, the debts secured by RH. The Martins would default and their creditors would call in their security.

If it becomes clear that RM won’t take the deal, then CBRE could appoint an administrator to take control of the companies and sign the deal themselves. The Creditors might see this as the best way to get some of their money back.

 

[Linda Loan Shark]

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.

BBC say they have declined to comment

 

[Tommy2holes]

BBC say they have declined to comment

Probably for the best until they know what the decision if from the Rat family

 

[Holy Joe]

If it becomes clear that RM won’t take the deal, then CBRE could appoint an administrator to take control of the companies and sign the deal themselves. The Creditors might see this as the best way to get some of their money back.

RM would have to default on his loan first. We have no idea of the terms of the loan.

 

[SunSea&Shrimpers]

Super Danny Cowan at the wheel. He’s taking no s**t from the rat family

 

[Colblue]

Surely this isn’t the imminent good news Tribal Chief and others were alluding to yesterday?
Yes it’s good that is seemingly backed in to a corner, but the only important result here is the continuation of SUFC as an entity, I’m not seeing the good news, taking that desired outcome in to account, there are too many things needing sorting by Friday to meet the COSU list of 3 demands. The fact you all think the £20 million to upgrade RH is at risk also now is even more of a worry

 

[Bearded Shrimper]

being a bit cynical, i expect **** Martin knew this was coming and has agreed, and this is slightly for show. this won't be the first they've heard of it.

the letter says model minus stadium so that's probably to do with the types of property, the mix, how much affordable, lease length, cost, stuff like that, but with more of them filling the hole where the stadium was to go.

it sounds like here's a decent deal, now don't do anything stupid like rejecting it and you get your money

 

[Che's Left Foot]

being a bit cynical, i expect **** Martin knew this was coming and has agreed, and this is slightly for show. this won't be the first they've heard of it.

Exactly. Making it public leaves the rat dynasty with nowhere to go.

No more goalpost shifting. No more moving in the shadows.

They know the deal. COSU know the deal. We know the deal. This is it.

Cash in ratman. Take your chips and pi$$ off out of the casino.

 

[Redbridge Blue]

I wonder if Cllr Cowan's reference to planning being the “release trigger for funds to redevelop Roots Hall” is an indication that the Council are looking to wrap up the £20 million pound payment in a Section 106 agreement?

 

[Sammy Shrimper]

I wonder if Cllr Cowan's reference to planning being the “release trigger for funds to redevelop Roots Hall” is an indication that the Council are looking to wrap up the £20 million pound payment in a Section 106 agreement?

I suspect that’s the only way, and the payments will be linked the phasing of the development.

 

[Shrimpergonzo]

being a bit cynical, i expect **** Martin knew this was coming and has agreed, and this is slightly for show. this won't be the first they've heard of it.

the letter says model minus stadium so that's probably to do with the types of property, the mix, how much affordable, lease length, cost, stuff like that, but with more of them filling the hole where the stadium was to go.

it sounds like here's a decent deal, now don't do anything stupid like rejecting it and you get your money

Yes, Cllr Cowan confirmed to me on Twitter that the property mix was agreed last week (I think confirmed this at the protest last weekend).

What is going back to them now is the financial and legal terms. I wouldn’t imagine there will be too many surprises in there either.

I would assume (and hope) that the Council play with a pretty straight bat (more than the family would anyway!) and will have shown their workings too.

They’ve sent the terms today and made it clear they’re non-negotiable and the consequences of the consortium walking away.

Let’s hope they see sense and do the decent thing. It would be a nice gesture if they did it on Monday so we can all be put out of our misery, but I’m not holding my breath that it will happen until close of play Friday (or even beyond).

For those panicking about the content of the update, most of it is clarifying what has already happened (eg failing due diligence) - the new stuff is the final deal being put to and family and the ultimatum to agree to the terms proposed today by Friday or accept the consequences.

All eyes on the now!

 

[Benfleet A1]

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

Marinated in a puddle, until it's dead.