SO when will the takeover go through?

[Firestorm]

One of the councillors told me a few years back that he couldn't attend more than 5 games a season or he would be unable to vote.

Seems strange that a self confessed football hater, a seaso at West Ham or Col U can laugh and vote no...... But a Shrimper is not allowed to vote

Thats it Rigsby, I knew I had seen it somewhere ....

 

[rigsby]

Ron doesnt own RH - so it wouldn't be sold to settle Ron's debts

Yes I know that and his debts are spread across number of companies.

Some posters on here don't understand what the word Limited means in a company name. So was really pointing out that even IF Ron or some Insolvency accountants are to sell RH it certainly wont be given away for £1.

Neither will the SBC hand it over as the mythical 'community asset'. You can't compulsory purchase land les than its market value. Yes they might hint at that on the trail for your vote but there are to many people from central government down to those that get offended by the parking around RH 25 times a year. They would block SBC wasting money on a football club.

Now even if I'm wrong and all the above happens in our favour. Who amongst us thinks if COSU can't pull off the deal with Ron then your City council will........Not a chance.

The way forward as I see it is pressure on Ron. He needs this deal
Pressure on the council to not delay things over needles paperwork that they already know the answers too (been there myself)
Show large amount of support for COSU. After all unlike some fans on here they have held their nerve.

 

[kentblues]

A meeting won’t complete the due diligence, nor make it say what we need it to say, nor convince the consortium that they should throw away millions more. He wants to score some cheap political victory and get a good sound bite for his social media.

What he said was that having spoken to the council officers to himself find out the status and what was holding things up, he would update the consortium then us. So rather than assume he will be every bit as bad as went before let’s see what the output is. The fact the consortium are in the dark as to status and progress is not an acceptable position.

Of course if again we get soundbites and gibberish you will have been proved right and nothing has changed…let hope not

 

[tommy tucker]

I dont wish any ill will on any person .But i would make an exception on Ron martin HE should suffer the pain he is putting the club and the fans through .

 

[kentblues]

Roughly co-inciding with the leagues AGM I assume?

If it's not done by then and it will be 2 weeks even from agreement then, yeah, not looking good

The league AGM would decide nothing. As before any league action would involve a pre-season deadline that would be long after the WUP.

 

[Barry.C]

"Perhaps one of the most frequently asked questions, due diligence can take anything from 30 days to 6 months. The length of time will vary by company type, size and of course the complexity of the potential deal."

Complex deal ?

 

[Holy Joe]

I’d have thought so yeah.

Really? What probability would you put on it?

I'd say there's a chance, but very low probability they'd kick us out at the AGM

 

[kentblues]

Yes I know that and his debts are spread across number of companies.

Some posters on here don't understand what the word Limited means in a company name. So was really pointing out that even IF Ron or some Insolvency accountants are to sell RH it certainly wont be given away for £1.

Neither will the SBC hand it over as the mythical 'community asset'. You can't compulsory purchase land les than its market value. Yes they might hint at that on the trail for your vote but there are to many people from central government down to those that get offended by the parking around RH 25 times a year. They would block SBC wasting money on a football club.

Now even if I'm wrong and all the above happens in our favour. Who amongst us thinks if COSU can't pull off the deal with Ron then your City council will........Not a chance.

The way forward as I see it is pressure on Ron. He needs this deal
Pressure on the council to not delay things over needles paperwork that they already know the answers too (been there myself)
Show large amount of support for COSU. After all unlike some fans on here they have held their nerve.

Correct and RH would pass to the charge holder CRBE on behalf of whoever.
The question would be valuation- as a dilapidated stadium or development site. Less as the former and then the only customer is the club and the only return would be leasing to the club.
In theory they can only get rid of the club and build by providing another stadium. In theory.
So I would imagine there is plenty of skin in the game for CRBE to plot a way forward. In the short term they would almost certainly negotiate a lease with the club. Which would need to be 10 years.

 

[kentblues]

"Perhaps one of the most frequently asked questions, due diligence can take anything from 30 days to 6 months. The length of time will vary by company type, size and of course the complexity of the potential deal."

Complex deal ?

Also according to the resources applied and the effectiveness of project management

 

[dusterman]

Really? What probability would you put on it?

I'd say there's a chance, but very low probability they'd kick us out at the AGM

According to many on here by the AGM date the deal will be dead in the water so it’ll be inconsequential. I think we’ll know by end of this week how ****ed we are, next week latest.

 

[Jmayhew32]

It's so hard to be optimistic at the moment. JR & Co are clearly reaching the end of their very long tether. Just pray that something will come out soon that will enable this deal to progress. The other route doesn't bear thinking about!

 

[Smiffy]

Really? What probability would you put on it?

I'd say there's a chance, but very low probability they'd kick us out at the AGM

Yeah, we wouldn't get booted on June 8th at the AGM itself.

They will however say x (sale, RH lease, accounts etc) needs to be done by x date (probably mid-late July) and if not, you wont get a license to participate in the NL. Plus I suspect another warning of impending points deductions etc.

As we almost fell foul of that warning (by literally minutes) last summer, I'd rather not we tried the same tactic again. The NL board are gagging to kick us out.

 

[Liam AAS]

In the Echo today it says that Daniel Cowan was locked in a meeting with Council officers last night to attempt to answer the questions posed by the Fan Protest Group so let's hope there is a statement from him sometime today.

loooooool

 

[Liam AAS]

Is there a real risk of us being kicked out of the league at the AGM because of this?

COSU are, currently, paying for things that are operationally required. Ron is Chairman of SUFC in name only, Tom and Justin are de facto running the club. If there are requirements from the NL then they will look at whether or not it is their responsibility to meet them.

 

[Liam AAS]

And I think at least three of those Tara Bradys (and Justin may be one of them) are coming to that realization and have had enough. They are aware that they will have to write off an awful lot of money, but at least if they pull out now, that loss doesn’t get any bigger.

Show your workings.

 

[Mr Browns Ghost]

And I think at least three of those Tara Bradys (and Justin may be one of them) are coming to that realization and have had enough. They are aware that they will have to write off an awful lot of money, but at least if they pull out now, that loss doesn’t get any bigger.

Horrendous I assume you too have heard that some of the original 10 are about to possibly crumble ? And who could blame them

 

[Mr Browns Ghost]

Unfortunately this is where my head is at for the moment. Once he gets a sniff that FF will be approved with no stadium I think we are well and truly in the . He has now brought himself a year to get his ducks in a row transferring out any assets to family members, luxury of no debtors chasing him as they are all waiting for ‘the sale’ …wouldn’t surprise me if it ends up being a ‘friendly debtor’ that finally winds us up ….he is playing everyone for his ‘families’ gain.

I hope I’m so wrong but it all seems to be heading that way

I am also going to say this and please forgive me this is nothing against the current group of legends trying to buy us. They too need this 20 million id be surprised if the 3:5 million they have put in themselves is personal wealth and possibly borrowed some how too .. they are not of huge wealth even as a collective … hence why I just can’t see this happening , they are doing absolutely everything they can… but you would need millions to ride over this Pratt Martin and just get on with it, and unfortunately it’s millions they don’t have … the only way this would work is is a NASH type character rocked up who is happy to lose 20-30 million but unfortunately people with that sort of money are not normally stupid enough to waste such resources , even the Wrexham lads would have pulled out of this **** show … the sad facts here we are doomed and it’s not the councils fault

 

[kentblues]

Bit of info re what has been happening here- also note Cllr Cowan is meeting ST this morning. See the conversation that followed the original tweet so see the trail.

https://twitter.com/x/status/1793216117306974242

 

[Mr Browns Ghost]

I don't think the consortium have any interest in investing in a phoenix club.

Correct

 

[Rob1920]

Also clarity on how much is needed to pay the WUP please

If it was as little as £250k I would be well pis.ed if our club went under for that sum, when all 4 actors in this could surely club together to knock out £62,500 each !!

Some councils even fund their local club and rent or let the ground cheaply !!

"Empowering local communities through asset ownership is an increasingly relevant option, as is aligning community needs and council priorities with the comprehensive network of asset owning community sports organisations.

Councils have a key role to play in helping communities to take ownership of local assets and creating a local network capable of delivering services, whilst protecting the local sport and leisure landscape."

1. Protects jobs that are at risk from facility closures. Provides training and business opportunities.
2. Can reverse economic decline of an area and attract investment. Can act as leverage, enabling further investment to be negotiated.
3. Instils a renewed sense of pride and confidence in the community. Provides local people with a meaningful stake in the future development of the place in which they live and / or work and builds long-term support from the community.

Supporter ownership of spectator sports clubs and social value​

The enhanced social value created from community ownership of spectator sports clubs has been discussed and evidenced to great extent including in Supporters Direct The Social and Community Value of Football report (2010). Supporter ownership creates greater local control, transparency and confidence to local stakeholders not least to supporters and councils that the club is being run for benefit beyond a small and often unrepresentative group of shareholders.

Councils’ recognition of a club’s local value and support for community ownership is often activated when a club is in financial trouble with key assets, such as if the stadium is at risk. Many councils are taking a more progressive approach to community ownership, supporting the club before it is at risk to create a partnership that helps the club and council to deliver their objectives. A great example is Chesterfield FC where Chesterfield Borough Council and Derbyshire County Council lent money to the club’s charitable trust for it to take majority control of the club.

Cmon Southend Council you can do it FFS get that DD done soon, at a minimum

Its entirely possible that COSU would, if it came to it, pay off the WUP at the last minute despite what's been said. I wouldn't blame them for keeping this entirely to themselves, i.e., no hints to IKT's or anyone outside their group, because we all know if Ron & the Council got wind of it, its the perfect excuse for them to keep delaying & moving goalposts knowing COSU will pick up the tab in the meantime. These guys aren't stupid. Its quite possible there's some brinkmanship going on behind the scenes.