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

[Paulie Walnuts]

How to make yourself look stupid in one sentence. "There's none so blind as they that won't see."

There's none so blind as they that won't see."- Joan Trotter on her death bed 1970 Peckham.

 

[Hampshire Shrimp]

So now that the family and SCC have negotiated and agreed on a deal that suits both parties, albeit only verbally at the moment, why can`t COSU now be given ownership of the club and be able to move forward?

We now have to go in front of a judge for another Final, Final, Final WUP saying we`ve moved on a bit, nothing is signed and waiting to sign HOT`s and carry out DD?

We get put into this position by the who doesn`t care, doesn`t pay and all for his greed and personal financial gain.

Give the club back to proper ownership, back to the fans, players, managers, staff, etc... and let us finally move on together as one.

We have all been through the mill with this saga for long enough, and certainly need to stay together as one.

The family have got what they wanted, now just move along and let us be able to function as a football club once again.

Up The Blues and good luck all.

 

[Suomi Shrimper]

So now that the family and SCC have negotiated and agreed on a deal that suits both parties, albeit only verbally at the moment, why can`t COSU now be given ownership of the club and be able to move forward?

We now have to go in front of a judge for another Final, Final, Final WUP saying we`ve moved on a bit, nothing is signed and waiting to sign HOT`s and carry out DD?

We get put into this position by the who doesn`t care, doesn`t pay and all for his greed and personal financial gain.

Give the club back to proper ownership, back to the fans, players, managers, staff, etc... and let us finally move on together as one.

We have all been through the mill with this saga for long enough, and certainly need to stay together as one.

The family have got what they wanted, now just move along and let us be able to function as a football club once again.

Up The Blues and good luck all.

Ron could absolutely do this, but he wants confirmation of the Fossetts housing before he relinquishes control of the club. Holding the club hostage gets him that decision quicker and on more favourable terms than he would get if he were developing on any other land in the city.

Handing over the club before the housing deal is approved would require a leap of faith from the Martins similar to that which COSU have made in funding the club for the past 6 months. And I think we all agree on the differences in behaviour, instinct and integrity between the Martins and COSU.

Fingers crossed for this week...

 

[Barling Magna]

Reads to me like they really are fearing the worst. It is good to see that they have everything ready to push the button if it all goes south.

Well done to the Trust. Thank you for working in our interests, you must be shattered. It's a reassuring to know that you are planning for all eventualities including Southend United FC (2025) Ltd. I hope it doesn't come to that though.

 

[TUMBO]

Is anyone able to confirm the process/application of Administration?

As in, lets assume COSU walk away and we were we to go into administration, in simple terms, what happens next?

 

[Flinty]

Is anyone able to confirm the process/application of Administration?

As in, lets assume COSU walk away and we were we to go into administration, in simple terms, what happens next?

I may be wrong, but we would be Liquidated rather than put into Administration I believe. Someone cleverer than me will no doubt advise

 

[jphfitz]

I may be wrong, but we would be Liquidated rather than put into Administration I believe. Someone cleverer than me will no doubt advise

Would have to be voluntary administration on Tuesday is my understanding.

 

[Shrimpergonzo]

Ron could absolutely do this, but he wants confirmation of the Fossetts housing before he relinquishes control of the club. Holding the club hostage gets him that decision quicker and on more favourable terms than he would get if he were developing on any other land in the city.

Handing over the club before the housing deal is approved would require a leap of faith from the Martins similar to that which COSU have made in funding the club for the past 6 months. And I think we all agree on the differences in behaviour, instinct and integrity between the Martins and COSU.

Fingers crossed for this week...

I think the problem is actually that CBRE will not sanction it until there's a new agreement to lease (which will follow once the Council has completed their due diligence). I had this confirmed to me by a member of the consortium a couple of months ago as I asked exactly the same question.

 

[Holy Joe]

I may be wrong, but we would be Liquidated rather than put into Administration I believe. Someone cleverer than me will no doubt advise

If we don't go into administration before the WUP hearing then I think the options for the judge are liquidation, dismiss, or adjourn.

 

[londonblue]

Reads to me like they really are fearing the worst. It is good to see that they have everything ready to push the button if it all goes south.

Maybe just preparing for the worst.

 

[Supa Shrimpa]

Is anyone able to confirm the process/application of Administration?

As in, lets assume COSU walk away and we were we to go into administration, in simple terms, what happens next?

I'm not sure there's much left to administer. The rat has stripped out all the best assets. May well just be liquidated ?

 

[Blues4LifeDan]

I can't imagine in a million years that a judge would adjourn again. We technically even further away from a deal than when we last appeared in court. At least then, due diligence was taking place. The new terms haven't even been agreed and even if they are before Wednesday, no due diligence would have taken place. If I was a judge, I'd be thinking that there is nothing tangible to suggest it will be successful this time. It's all promises and guess work unfortunately.

This whole thing is so surreal. The other day we had reports of season cards getting announced with a possible signing, to liquidation. It's mad.

 

[Colblue]

So now that the family and SCC have negotiated and agreed on a deal that suits both parties, albeit only verbally at the moment, why can`t COSU now be given ownership of the club and be able to move forward?

Probably because unfortunately Ron’s word isn’t worth the paper that the deal will probably never ever be written down on

 

[Tangled up in Blue]

Shrimpers Trust - Members Update - 23rd June 2024
Yahoo/Bandeja de entrada

• 
  
  
  Shrimpers Trust
  De:noreply@shrimperstrust.co.uk
  Para:Phil Spooner
  
  dom, 23 jun a las 20:03
  
  
  

  ​ As we prepare for another important week in the history of Southend United Football Club, the Shrimpers Trust would like to provide the following update to members and supporters. The extensive statements provided by the leader of Southend-on-Sea City Council, Daniel Cowan, over the past fortnight, have set out explicitly where negotiations stand between the Council and the Martin family. The events of Friday afternoon and evening were a cause of great anxiety for all supporters. Despite an agreement eventually having been reached, the Council and the Martin family are still to negotiate a new Heads of Terms, and we are still to find out how the consortium seeking to acquire the club (COSU), feel about developments. We are grateful to Cllr Cowan for the time he has granted to this important and complex deal for the whole city, as well as the future of our football club. Representatives of the Shrimpers Trust Board have been in constant contact with him, including numerous online calls, helping to inform and influence where appropriate. We have also maintained an ongoing dialogue with Justin Rees, the head of the consortium. We believe there is a desire within COSU to be collaborative with supporters and to seek advice and knowledge, even if there may be a natural divergence of opinion at times. We appreciate the commitment they have shown to date, but their continued involvement should not be taken for granted. We have reached out to the general manager of the National League, Mark Ives, to attempt to understand his view of the ongoing situation, although we are yet to receive a formal response and we are therefore reaching out to the league via alternative avenues. We are doing all we can to steer all invested parties towards a positive outcome for Southend United. We are aware there was some disappointment expressed that the Shrimpers Trust did not support protests arranged against the Martin family. We took on board advice from both the Council and COSU that protests would negatively affect the Martin family’s desire to negotiate and would provide a distraction. There has been, and will be, times when protest is the right course of action. We don’t feel this was one of those times. We had a very useful call with the Football Supporters’ Association on Thursday evening, using the benefit of their knowledge and experience to talk through a range of scenarios. Their ongoing support is much-appreciated as we continue to plan for all eventualities, and they have put us in contact with a number of supporters’ organisations who have suffered in similar circumstances in the past. As difficult as it is, we have to be ready for all possibilities over the next few days. Whilst we hope for the best, it could be the case that COSU walk away, collapsing the deal between the Council and the Martin; the deal could collapse of its own accord if the Martins move the goalposts again; the club could be placed in administration or it could be liquidated following the Winding-Up Petition served by Stewarts Law, which is set to be heard on Wednesday. We have put a lot of effort into being prepared for whatever happens. Our priority, as it has always been, is to save the current club and its heritage status within the community. If the club is placed into administration, we will work with the appointed administrator and attempt to plot a path out with interested parties as a matter of urgency. We have also established contact with the relevant authorities should Southend United FC be wound-up on Wednesday and are cognisant of the relevant regulations if we need to establish a phoenix club. This would be a last resort and would involve an intense period of work to ensure participation in the 2024/25 season, but the groundwork has been put in place. Finally, we have worked on a submission to list Roots Hall Stadium as an Asset of Community Value. We believe the application is ready to submit although, to avoid any complications it could cause to ongoing negotiations, we have held off to this point. We will confirm the submission and provide further details in due course. We hope this update has provided some context as to the scope of the work undertaken by representatives of the Shrimpers Trust Board during the past few weeks. The situation is rapidly changing and, even in the course of composing this message, representatives have continued to take calls to further understand what is happening. We will make further comment as the situation continues to evolve over the coming days and weeks. In the mean-time, we value the feedback of our members and you can contact us on info@shrimperstrust.co.uk Finally, we are acutely aware of the worry and stress the current situation is causing. We hope anyone who is struggling with anxiety knows they are not alone. There are people can help, and further details about some of those organisations are available via the websites listed below:" SECE Mind: www.secemind.org.uk Livewell Southend: www.livewellsouthend.com Mind: www.mind.org.uk

 

[Smiffy]

I can't imagine in a million years that a judge would adjourn again. We technically even further away from a deal than when we last appeared in court. At least then, due diligence was taking place. The new terms haven't even been agreed and even if they are before Wednesday, no due diligence would have taken place. If I was a judge, I'd be thinking that there is nothing tangible to suggest it will be successful this time. It's all promises and guess work unfortunately.

This whole thing is so surreal. The other day we had reports of season cards getting announced with a possible signing, to liquidation. It's mad.

I think the only way an adjournment is possibly granted, is if a new HoT is signed, sealed and agreed by all parties in the next 24-36hrs. Plus some serious grovelling by Ron and back up from COSU, SCC, Firth etc.

Anything less than that and I think it's squeaky bum time and reliant on an understanding petitioner(s) and judge (yet again)...

Other options:

*Ron files for Administration in the next 24hrs

*Creditors withdraw their petition

*COSU settle the WUP

*Judge has had enough and brings the curtain down on our 118 year history.

 

[Shrimper]

I assume we'll hear something today?

 

[Tommy2holes]

Here we go again.

How many times have we started a week claiming it to be "the biggest" in the clubs history. The reality, far too many times in recent years than any fan should ever have had to.

I usually have a gut feeling how things will pan out and generally feel pretty confident. I'll be honest, I literally have no clue what will happen this week.

I'd love COSU to settle the debt and release season cards but I fear the worst.

 

[TJC]

I assume we'll hear something today?

Would hope so. This week has to be the week when all becomes clear. Even if we get an adournment, COSU will either have to commit to stay or walk. If the latter, thats it I would imagine, if the former, we still have a good chance.

 

[Ricey]

Here we go again.

How many times have we started a week claiming it to be "the biggest" in the clubs history. The reality, far too many times in recent years than any fan should ever have had to.

I usually have a gut feeling how things will pan out and generally feel pretty confident. I'll be honest, I literally have no clue what will happen this week.

I'd love COSU to settle the debt and release season cards but I fear the worst.

I think that is the general feeling throughout, the situation is so volatile it changes depending on what the Martin’s are doing. As we all know that can change like the wind.

This is the week surely where it genuinely is live or die.

 

[TJC]

I think that is the general feeling throughout, the situation is so volatile it changes depending on what the Martin’s are doing. As we all know that can change like the wind.

This is the week surely where it genuinely is live or die.

Perhaps die or stay on life support is a better fit