-
Welcome to the ShrimperZone forums.
You are currently viewing our boards as a guest which only gives you limited access.
Existing Users:.
Please log-in using your existing username and password. If you have any problems, please see below.
New Users:
Join our free community now and gain access to post topics, communicate privately with other members, respond to polls, upload content and access many other special features. Registration is fast, simple and free. Click here to join.
Fans from other clubs
We welcome and appreciate supporters from other clubs who wish to engage in sensible discussion. Please feel free to join as above but understand that this is a moderated site and those who cannot play nicely will be quickly removed.
Assistance Required
For help with the registration process or accessing your account, please send a note using the Contact us link in the footer, please include your account name. We can then provide you with a new password and verification to get you on the site.
Stadium plans passed subject to earlier payment phasing...
- Thread starter Always a Shrimper
- Start date
Jam_Man
Life President
No the club cant pay rent, at the moment, it may be able to in the new stadium.
What about the conference facilities and hotel that he wants to make money from.
Why did he bother designing such an expensive stadium? Why didnt he just build a basic one like at Col U ?
Your comments still dont make sense, it is not in his interest for the club to go into administration whilst he is owed millions, and once he isnt owned millions we wouldnt have to go into administration.
Yes they would. As Tara Brady said, he is puzzled why some fans think people wouldnt be interested, and Chris Phillips said last week he knew of potential buyers.
Neil 15GB
Schoolboy
The new stadium is not the prize. Anyway I really hope your view of the world is right. SUFC has a long history of Chairman dedicated to the best interests of the football club. Jobson, Johnson ....... Lets hope we are unveiling the Ron Martin Stand in 2 years time . I am not trying to trash the club that I followed for nearly 2 decades, simply saying that, from very close to the issues , the risks are very , very high .
Jam_Man
Life President
No indeed its not, the Roots Hall development is, although Im sure the flats at FF are an attractive part of it as well, if they sell.
Dont get me wrong, I have little confidence in him being able to build a 4 stand stadium, I just dont see the logic in some of your comments.
fbm
Blue tinted optimist⭐🦐
Not as high as doing nothing, and it's unfair to put Jobson in the same bracket as Johnson.
McNasty
Member
But surely the college (Prospects ) and the shops have still got to be sorted so September may be too early for any movement.
fbm
Blue tinted optimist⭐🦐
Care to tell us how close? Because you didn't seem to know that Ron is the major creditor...
Jam_Man
Life President
Whatever happens wont happen by September ?
Im pretty sure I know why you are in the know, but a lot of your comments contradict each other.
One minute you are saying Ron will benefit from rent we cant afford, the next you are saying he will place us in administration, which as he is the one who is owed money doesnt really make any sense, so please do elaborate on how placing us into administration benefits him. The only way I would see that being of help to him is if he owed the 8 million to other people, then administration would relieve him of the debt, but as its money owed to the parent company Im not sure why he would do that?
bluebrian
First XI
Oh good - someone else in the know!!
Suffolk Shrimper In Dorset
Director⭐⭐🦐
oh I do love coming on here to be cheered up. I'm going back to the Tottenham game on ITV
Neil 15GB
Schoolboy
No, no. His debt is accrued unpaid rent on RH. It will a be paid when the development happens. After that why would the club not be placed administration ? The club will only be put in administration when he mAin creditor has been paid. I might be talking crap so please carry on and keep the faith . I am happy to leave it at that and let history decide.
Firestorm
Pedant
As far as I understand The debt is loans made by group companies to SUFC
If it was unpaid Rent it would be shown in the accounts as such, not loans and would only show in the assets of SEL and the other SEL company, where as IIRC it is currently in the accounts of Mezcal, MD and Roots Hall ltd.
However this is only my reading of the various companies accounts and if you can show me where I have misread them I would appreciate it as I do not like to mislead people by spreading misconceptions
A Century United
Highland Exile
He knows that he will never be able to collect that rent. I don't know who has been giving you information but they have been talking out of their arse.
There is one absolute constant in all of this. A lot of people don't like Ron Martin (quite possibly for good reason, who knows?), and seem very keen to see the whole Fossetts Farm project fail, and they are constantly starting rumours and twisting facts to suit their case, and a lot of fans seem only too eager to believe what they hear. The problem is that if they succeed in their aim, we as a club are screwed. I think the fancy term is "Collateral Damage". Well I for one don't want SUFC to become an incidental casualty in a vendetta.
One way I can fight this is using some common sense when I hear all the rumours and predictions of imminent doom. I take everything I hear with a pinch of salt unless there is something to substantiate it, and I tend to pay attention most to posters like Firestorm and Beefy, who have no love of RM but mostly deal in facts and common sense, and who actually take the time to read the accounts and make them accessible to the rest of us.
I also give a certain amount of weight to the fact that Sainsburys are a large and experienced company, with a track record of building both Superstores and Stadiums. I don't think (and of course, this is just my opinion) that they would have become co-developers with Martin Dawn if they didn't think that the whole project would go through, if they believed that SUFC were going bust or would be discarded at the end of the project*, or they thought that RM wouldn't be able to finance his side of the deal once the building started. Over the years, they must have come across many Property Developers with a similar track record to RM - they aren't an innocent wet-behind-the-ears investor just desperate to lose their cash. If they think he can do it (and if they don't, why are they sending out letters with a joint letterhead?) then I suspect (and fervently hope) he can.
*Because Public Image is vital to companies like Sainsburys, and being associated with the demise of the Town's Football Club would look quite bad.
fbm
Blue tinted optimist⭐🦐
Who will pay it because the club owe it and the club won't get anything from the development?
Jam_Man
Life President
A large part of the debt on our books is money Ron Martin's company put in during 2010 to settle the 2 million tax bill and other bills. This money is therefore owed to his company, its not rent.
The fact that that money he put in was the 5 million that Sainsbury gave him means he has to pay it back, or offset it in someway against what they owe for Roots Hall. Now if Sainsbury gave the money directly to SUFC he could play the administration card to get away without paying it back, but it didnt happen like that.
As said before, the main creditor is Ron Martin. He cant just withdraw 8 million from our bank, and if he uses administration to get his money he wont get much of it as he already owns all the assets.
Last edited:
jaffa1
Manager
It was recently claimed that RM has put £10m into Southend United, but I've always doubted how much he has actually contributed/loaned. Sainsbury's have paid £5m of that 10 - agreed? So of the other 5m how much has actually come out of his pocket is it just another case of robbing Peter to pay Paul to pay Sir John, and moving funds from A>B>C Pi squared ? If we/he ever do profit from FF I would be fascinated to see where the money dribbles back to/who is reimbursed etc.
I doubt very little if any of his own personal cash has gone in at all.
Mostly Sainsbury, various director loans and borrowing against bits of land here and there.
ShrimperZone Sponsors
ShrimperZone - SUFC Player Sponsorship
Southend United Away Travel
All At Sea Fanzine
